The global wireline services market is estimated to be USD 8.26 Billion in 2016, and is expected to grow at a CAGR of 2.1% from 2016 to 2021. Increasing oil production and aging reservoirs are major factors driving the wireline services market.
The wireline services market is segmented based on wireline type into electricline and slickline. The electricline segment accounted for the largest market share in 2015 and is expected to grow at the highest CAGR during the forecast period. The prominence of the electric line services over the slick line services can be attributed largely to the wide application of electricline for well logging purposes which prove very helpful for reservoir understanding and field development activity.
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The onshore segment is expected to hold the largest share of the wireline service market, by application, during the forecast period
The onshore segment led the wireline services market in 2015, owing to the increasing demand for wireline services across the globe. This segment is primarily driven by high number of maturing fields in onshore regions. Moreover, the ease of mobility is high in onshore regions which allows for multiple usages of wireline services, and is expected to create new revenue pockets for the wireline services market during the forecast period.
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The ecosystem of the global wireline services market starts with the production and manufacturing of iron and steel. The manufactured parts are then assembled by the oilfield service providers to form wireline systems, which are then tested. This stage is followed by supply of the wireline systems to the oilfield operator companies.
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Wireline Services Market Company Profiles Analysis and Forecasts to 2021
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