Logging
Tools Market Insights
Market Research Future has come up with its latest report on
global logging tools stating that it is proliferating with a higher CAGR by the
year 2021. The market is thus expected to expand in the years to come following
increased investments in oil & gas exploration activities in the recent
time. The oil & gas market has seen an upward stark in the recent times,
which has considerably taken the market to rise with the help of latest logging
tools.
On this note, logging is a practice of making a detailed
record, which may be based either on visual inspection of samples or on
physical measurements made through instruments which includes drilling,
completing, producing, and others. Thus, logging is performed in boreholes for
groundwater, oil & gas exploration, mineral and geothermal exploration, as
well as environmental and geotechnical studies.
Key
Players
Some of the key players in the logging tools market are
Halliburton (U.S.), Royal Dutch Shell (The Netherlands), Schlumberger (U.S.),
Baker Hughes (U.S.), Weatherford (Switzerland) and Hunting Energy Services
(U.S.)
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Global
Logging Tools Market Drivers & Trends
The increasing trend of logging tools and logging tools
market is set to proliferate with surge in oil discovery and some
unconventional resources exploratory activities. With this, usage of real time
data gathering to maximize production is accounted to be one of the major
factors to propel the logging tools market substantially.
In addition, there has been an increase in crude oil prices
which has resulted in investments for practicing production and exploration
activities. Such events are further creating opportunities for new projects to
come that is impacting positively on the logging tools market.
On the other hand, technological advancements have also
broadened the market with improved efficiency in oil & gas field that
enabled activities of deep-water drilling. These require advanced logging tools
and services having high pressure and high temperature. These aforementioned
factors are thus projecting the logging tools market to rise high over the next
five years.
Furthermore, the rise in the number of horizontal wells,
demand for real-time logging, and integrity concerns are going to offer
significant opportunities for logging tools market growth.
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Global
Logging Tools Market Segmentation
In the reports of MRFR, the global logging tools market has
been segmented into technology type and well type.
Based on technology type, the market includes slickline and
E-line.
Based on well type, the market includes land and offshore.
Regional
Outlook
In the reports of MRFR, regionally, the market of logging
tools has covered significant regions of North America, Europe, Asia-Pacific,
South America, Middle East, and Africa.
Among them, North America region is expected to lead in the
logging tools market owing to the presence of major market players who are
paving ways for more exploration activities in well—onshore and off shore
areas. With this, favourable government regulations in North America are also
significantly expecting the logging tools market to proliferate by 2021.
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