Research Reports Global Wireline Services Market Analysis 2014 – 2020

In the mining industry, cabling technologies play an integral role in assessing subterraneous conditions based on which various other operations are planned. Wireline technology is one such method that is employed for lowering assorted equipment and devices into wells for. These devices could be used for a myriad of purposes, including: Reservoir evaluation, intervention, logging, and completion. The wireline services market thus caters to the supply and maintenance of measurement tools and equipment for mining sites. The pressing need for controlling process parameters makes the wireline services market integral to the larger mining operations industry. The global wireline services market stood at US$18,052.1 million in 2013, and is projected to touch US$33,845.2 by 2022, registering a relatively high CAGR of 8.94% from 2014 through 2022.

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With a 70% Share, Slickline Services Dominate Global Wireline Services Market

The wireline services market can be classed into two broad segments based on technology: Electric line and slickline. While the former comprises very strong and heavy wirelines, the latter is typically refers to metal wires ranging in diameters from 0.108” to 0.125”. The other key differentiating factor in these two types of wires is that the electric line features an insulated inner wire that transmits electricity to other connected electric equipment located in the wellbore. Most companies in the wireline services market provide either wireline fleets or individual units installed alongside the drilling rig.

Slickline services are extensively used in mining operations because they help maintain well production levels in the intervention and logging processes. It owes to this aspect that slickline services constitute a clear majority (over 70%) of the total wireline services market, according to 2013 estimates. However, moving forward, the offshore hydrocarbon reserves will open up new avenues for the growth of electric line services.

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Well Completion Application Contributes Highest Revenues to Wireline Services Market

The global wireline services market can also be segmented based on the applications that are predominantly seen in mining operations. These applications include: Well intervention, completion and logging. Well interventions are generally conducted at hydrocarbon wells to gauge whether further drilling would offer any scope for secondary recovery procedures. If the answer is in the affirmative, it means that the well, though mature, may still be able to produce more resources. However, since the number of such wells is low, the well intervention application segment occupied the smallest share within the wireline services market, according to 2013 figures.

On the other hand, well completion processes call for the use of a series of operations that make use of wireline services. Well completion—the process via which a drilled well is equipped to ready it for production-requires a series of operations to be performed that need wireline services. This explains why the demand for wireline services was the highest (64.95% as of 2013) in well completion applications.

Wireline Service Market is the Largest in North America, Trailed by APAC and South and Central America

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The impressive pace at which shale gas exploration and production has been happening in the United States and Canada make the North America region the largest regional market for wireline services. In Asia Pacific, on the other hand, the wireline services markets of Australia, China, Indonesia, India, and Malaysia hold much promise. Likewise, in South and Central America, Argentina’s prospective oilfield investments around 2017 and Brazil’s large offshore oilfields are integral to the growth of the wireline services market here. Companies are also advised to keep track of the MENA and Europe region as lucrative wireline services market in the future.

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