North America wireline logging service market share by technology, 2012 – 2022 (USD Million)
- E-line logging segment accounted for over 55% of the revenue in 2014 and is expected to witness substantial rise in demand over the forecast period. It finds more usage as compared to the slickline products owing to its wide application across several E&P activities. Some of the factors responsible for electric line’s increased adoption include its ability to transmit electric data by offering a pathway for communication between the downhole equipment and the surface.
- Cased-hole logging services segment is estimated to account for over 75% of the overall industry by 2022, growing at a CAGR of over 9% from 2015 to 2022. The industry has been developing sophisticated measurements in through-casing applications. Tools such as gamma ray, spectral gamma ray, pulse neutron, and compensated neutron are used for determining water saturation.
- North America dominated the market in 2014 and is expected to grow at a CAGR of over 9% from 2015 to 2022. Potential increase in recoverable resources and completion activities within North America are expected to drive the demand across this region over the forecast period.
- Wireline logging service market share is occupied by companies such as Halliburton, Schlumberger, Weatherford International, Baker Hughes, Nabors Industries, and Pioneer Energy Services. Profit margins of the companies are influenced on the efficiency of their production processes. Hence, major players such as Halliburton and Schlumberger are investing heavily in R&D for improving existing technologies, maintaining their edge. For instance, in 2014, Schlumberger invested USD 1.2 billion in R&D activities, whereas Halliburton invested USD 0.6 billion, Baker Hughes 0.6 billion, and Weatherford International invested USD 0.3 billion, respectively.