Transparency
market Research, a U.S.-based market intelligence firm has announced
the addition of a new research report based on the global wireline
services market to its database.states that the global wireline
services market would be worth an estimated US$34.96 billion by
2020. This market, which valued US$19.10 billion in 2014, will grow
at a CAGR of 10.36% from 2014 to 2020 - the report's forecast
period.
The
report studies the global wireline services market based on two major
segments - major application areas of wireline services and prominent
regional markets of the global wireline services market.
The
major application areas of the global wireline services market,
studied by the report, include wireline completion, wireline
intervention and wireline logging. The global wireline services
market is segmented into prominent regional markets as North America,
South America, Europe, Asia Pacific, Africa, and Middle East.
The
global market for wireline services has applications majorly in the
oil-exploration and processing industry where the services are used
specifically for running drilling equipment down the hole, after and
before completion of oil extraction. The major drivers of the global
wireline services market, as cited by the report, include the
voluptuously increasing demand for oil and gas on a global front.
This
enormous demand has pressed industries to extract more oil and gas
from every reservoir, requiring deep exploration. To meet rising
demands, exploration activities have increased enormously, leading to
significant growth of the global wireline services market.
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The
report states that growth of the global wireline services market goes
hand-in-hand with the growth on drilling and completion activities
undertaken by major oil-extraction and processing companies on the
global front. Depending upon the type of oil-reservoir, different
varieties of wireline services are employed. Growth in the
oil-extraction and processing industry thus leads to growth of the
global wireline services market. Rising oil-exploration and
processing activities are expected to further open significant growth
opportunities for the global wireline services market.
Geographically,
the global wireline services market is led by the regional market of
North America. This regional market held the highest shares of
revenues of the market in 2013 owing to the high prevalence of
research and development activities in the region. Favourable
regulations in the North American wireline services market have also
led to significant growth of the overall market.
However,
the mature market of wireline services in North America is expected
to observe stiff competition from relatively newer market of the Asia
Pacific during the forecast period. The market of wireline services
is also observing significant growth in many other regional markets
due to exploration of new oil reserves and oilfields, generating good
growth potential for the overall wireline services market.
About
Us
Transparency
Market Research (TMR) is a market intelligence company, providing
global business information reports and services. Our exclusive blend
of quantitative forecasting and trends analysis provides
forward-looking insight for thousands of decision makers. TMR's
experienced team of Analysts, Researchers, and Consultants, use
proprietary data sources and various tools and techniques to gather
and analyze information.
Our
data repository is continuously updated and revised by a team of
research experts, so that it always reflects the latest trends and
information. With a broad research and analysis capability,
Transparency Market Research employs rigorous primary and secondary
research techniques in developing distinctive data sets and research
material for business reports.
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