Market Size of US Wireline Logging Services Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 2.62 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
US Wireline Logging Services Market Analysis
The United States Wireline Logging Services Market is expected to grow at a CAGR of 2.62% during the forecast period.
The market was severely impacted by the Covid-19 pandemic, as global demand for hydrocarbons plummeted. However, the market has since rebounded and is expected to reach pre-pandemic values during the forecast period.
- Over the long term, as demand for natural gas from the power generation and heating sectors increases, it is expected to drive the demand for increasing natural gas production capacity, which is expected to drive the market during the forecast period.
- However, environmental concerns about fracking are expected to restrain shale drilling, which may negatively impact the market's growth during the forecast period.
- The increase in oil and gas discoveries, coupled with the liberalization of the industry, has opened lucrative opportunities for foreign players to invest in the country's studied wireline logging services market.
