Europe Wireline Services Market is expected to reach $4.77 Billion till 2021

Albany, New York, November 16, 2016: A latest report has been added to the archive of Market Research Hub. The report focuses on the European market of wireline services. It is titled as “Europe Wireline Services Market Report 2016”. The report highlights the European market scenario with focus on some key regions including UK, France, Italy, Germany, Spain, Russia and Benelux.

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The report begins with the brief overview of wireline service along with its classification and applications. Wireline services have been used for broad-ranging activities in oil and gas industry. It is the electrical cabling technology used for lowering measurement equipment into the well for intervention process, pipe recovery activities and reservoir assessment. Oil and gas well operators find this technology   dynamic for different processes which includes exploration, production, stimulation, drilling, intervention and completion. These services continues to rise in the oilfield due to the growing cabling needs in the oil and gas industry.

Wireline services market is estimated to reach $4.77 billion by 2021 due to some key factors like increasing global oil and gas exploration owing to its rising demand. Further, the report segments the market by product type and application. On the basis of type it can be divided into: electric line and stick line, whereas, by application it is segmented as- oil exploration, well drilling & others. The well completion segment detained the largest share with more than 60 % in total wireline services.

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According to the report, Europe and Asia Pacific are growing rapidly in terms of market demand. The growing discoveries of reserves and rising requirement to maintain and boost the recovery rates from these hydrocarbon resources are driving the wireline service market. In addition to this, a comprehensive list of key market players along with the detailed study of their current strategic welfares and key financial data are given which enables an in-depth understanding of the competitive landscape. Some of the top players in the wireline services market are:

National Oilwell Varco Inc. Baker Hughes Incorporated Pioneer Energy Services Corporation Schlumberger Limited Halliburton Company Oilserv Superior Energy Services Incorporated C&J Energy Services Incorporated Expro International Group Holdings Ltd. Archer Limited Weatherford International Basic Energy Services Wireline Engineering Ltd.

All of the primary players are trying to invade the markets in evolving economies and are also adopting various strategies to increase their market share. With some new and upcoming technologies, companies have observed rapid technological developments and enhanced the performance which provides cost benefits to the well operators.

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