The global wireline services market is projected to grow at a CAGR of 2.1% from 2016 to 2021, to reach a market size of USD 9.15 Billion by 2021. This growth is attributed to increasing oil production and maturing oilfields.

The report segments the wireline market on the basis of hole type into cased-hole and open hole. The cased-hole segment is projected to dominate the wireline service market and is expected to grow at the highest CAGR from 2016 to 2021.

The wireline service 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.

The report segments the wireline service market based on application into onshore and offshore. The offshore segment is expected to grow at the fastest rate during the forecast period, owing to use of wireline services for well service and completion applications. Asia-Pacific is the key market for offshore applications due to discovery of new reserves in the Gulf of Thailand, Great Australian Bight, Turkmenistan, and South China Sea.

In this report, the wireline service market has been analyzed with respect to six regions, namely, North America, Asia-Pacific, Europe, the Middle East, Africa, and South America. North America is expected to dominate the global wireline service market during the forecast period, owing to the increasing shale gas production and offshore production.

The Middle East market is projected to grow at the highest CAGR from 2016 to 2021 due to the high use of enhanced oil recovery techniques in the region and the high oil production in the region. Qatar, Kuwait, and Saudi Arabia are expected to drive the wireline service market in the Middle East region.

Decline in oil prices could be a restraint for the market. Decline in oil prices has drastically affected the oil & gas exploration & production investments across the globe, leading to a sharp fall in the rate of oilfield services and lowering the revenues from wireline services.

Leading players in the wireline services market include Schlumberger Limited (U.S.), Halliburton Company (U.S.), Baker Hughes Incorporated (U.S.), Weatherford International PLC (Switzerland), and Superior Energy Services (U.S.). New product developments was the strategy most commonly adopted by top players in the market from 2013 to 2016. It was followed by contracts & agreements, expansions, and mergers & acquisitions.

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