Global Well Logging Tools Market Overview
The global well logging tools market is predicted to
have a prodigious growth at 4.50% CAGR over the predicted years (2019-2024).
Well logging is conducted in boreholes that are drilled for oil and gas,
mineral, groundwater and geothermal exploration along with part of geotechnical
and environmental studies. The well logging tools is predicted to witness a
favourable growth with increase in oil discovery and various unconventional
resource exploratory activities. Real time data gathering for maximizing production
is a key factor that is likely to propel the market.
There are ample factors that is boosting the growth
of the well logging tools market. These factors as stated by the Market
Research Future (MRFR) report include growing need for new technologies and
real time logging in shale gas exploration, increasing exploration activities,
increased production in the developing regions and potential boost in
recoverable resources.
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Well Logging Tools Market Key Companies Studied in This Research Report
Are
·
ANTARES Datensysteme GmbH,
·
BÖHLER Edelstahl GmbH &
Co KG,
·
TSL Technology Ltd,
·
Gowell International LLC,
·
Hunting Energy Services,
·
Weatherford,
·
GE Company,
·
Baker Hughes Schlumberger
and
·
Royal Dutch Shell
Halliburton.
Industry Highlights
Logging tools gets inserted into the well for
measuring the electromagnetic, radioactive, acoustic and electrical properties
of subsurface formations. At times these tools are incorporated into drilling
tools while at other times it is lowered in the well for collecting data. With
technological advancements in the well logging industry, countless varieties of
well logs have come up. As increasing number of exploration activities are
taking place, the need for well logging tools is going up as it is a vital part
of well production and drilling activities.
They
need advanced logging tools as well as services that have high temperature and
high pressure. Furthermore, the increase in the demand for horizontal wells,
integrity concerns and need for real-time logging will provide significant
opportunities for the growth of the well logging tools market.
Well Logging Tools Market
Segmentation
MRFR
report offers a wide segmental analysis of the well logging tools
market on the basis of technology,
well type and end-use.
Based
on technology, the well logging tools market is segmented into e-line and
sickline.
Based
on well type, the well logging tools market is segmented into offshore and land
based.
Based
on end-use, the well logging tools market is segmented into metal and mining,
oil and gas and water and wastewater.
Regional Analysis
By
region, the well logging tools market covers growth opportunities and latest
trends across Middle East and Africa, Asia Pacific, Europe and North America.
Of
these, North America will have an upper hand in the logging tools market over
the predicted years. This is due to the presence of key players in this region
that are opening doors for higher exploration activities in off shore and on
shore areas. These favorable government regulations in this region is expected
to proliferate the growth of the logging tools market here. The logging tools
market in the APAC region is predicted to have a favorable growth over the
predicted years. Exploitation of shale resources especially in the US have
increased the demand for rigs of higher specifications to enable drilling long
horizontal wells with well logging tools. Moreover, in the APAC region, about
50 oil and gas fields having collective resources in Southeast Asia is
predicted to get approval for development between 2019-2020.
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About Market Research Future:
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Market Research Future (MRFR), we enable our customers to unravel the
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