WIRELINE SERVICES MARKET ANALYSIS

The fluctuations in crude oil prices have significantly restrained the growth of the global wireline services market in recent years. When crude oil prices fluctuate, it creates uncertainty in the oil and gas industry as producers are not sure about future earnings and profits from their operations. This uncertainty leads E&P companies to curb or delay their capital spending on exploration and production activities including drilling of new wells. Since wireline services play a key role in operations such as well intervention, pipe recovery, and reservoir evaluation, any decline in drilling and well completion activities directly impact the demand for wireline services.

Market Opportunities: Emerging markets in Asia Pacific and Middle East & Africa

The emerging markets in Asia Pacific and Middle East & Africa regions offer tremendous growth opportunities for the global wireline services market. These regions are witnessing significant economic development backed by a rising middle-class population with increased disposable income levels.  Countries like India, China, Indonesia and others in Asia Pacific are urbanizing rapidly and investment in digital and telecom infrastructure is a top priority for governments.