Dallas, TX -- (ReleaseWire) -- 06/30/2014 -- The report “Wireline Services Market by Type (Logging, Well Intervention, Completion), & Geography (Asia-Pacific, Europe, Middle East, Africa, North America, South America) - Global Trends & Forecast to 2019” defines and segments the wireline services market with an analysis and forecastof the global revenue.
Browse 71 market data Tables and 27 Figures spread through 160 Pages and in-depth TOC on "Wireline Services Market - Global Trends & Forecast to 2019"
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It is estimated to reach $31.18 billion by 2019, at a CAGR of 10.7% from 2014 to 2019. The latest and highly advanced technology required in the African and Asia-Pacific regions is expected to experience the highest value generation and growth during the next five years.
The wireline services market is likely to grow reasonably in the upcoming years. The long-term drivers of the wireline services market are well known. The relentless depletion of onshore and shallow water fields has compelled oil companies to focus on deep water and unconventional onshore areas where various wireline services are required in order to produce hydrocarbons.
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The major drivers for the wireline services market are increase in theproduction rate,new additionsto recoverable reserves, energy strategy shift toward gas, and energy security by domestic supply. Environmental strict rules and regulations and public outcry are seen as major restraints to the wireline services market.North America holds a major market share in the global wireline services market. Research and development initiatives by the American Government and favorable regulatory conditions have helped the American market grow to this level of being the market leader in wireline services.
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