Oil Well Logging Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

  • Single User License $3500

Oil Well Logging Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : September, 2020 | Technology & Media | PPT format

Report Digest


Oil Well Logging Market - Snapshot

Well logging refers to the recording of encountered events, depths, and subsurface formations at the time of drilling. Well logs might be done through instruments and gadgets that are taken down into the well or through visual observations. With constant increase in the cost of well digging, particularly offshore wells together with special requirements of digging unconventional reservoirs, oil well logging and formation evaluation is proving to be cost effective. It also improves efficiency in well placement, production, drilling, and completion design thereby driving the global oil well logging market.

Some of the recent trends in oil well logging sector comprise

  • More accuracy in measurement
  • Availability of a wide variety of tool sizes
  • Presence of many deployment options to provide total assessment of reservoir in smaller boreholes

On the parameters of types of log techniques, the global oil well logging market is split into lithology logs, electrical logs, and porosity logs. Image and resistivity logs are the sub segments of electrical logs.

Electrical logs are considered as a significant tool for a petrophysicist. Electrical logs offer a procedure for the calculation of water saturation, based on which the calculation for stock tank original oil-in-place (STOOIP) is done. However, the principal application of electrical logs is to measure the saturation of reservoirs formations.

The electrical logs come with many uses, which are

  • indications of lithology
  • analysis of facies and electro-facies
  • correlation
  • overpressure determination
  • shale porosity determination
  • indications of compaction
  • source rocks investigation

Multiple uses of electrical logs encourage growth of the global oil well logging market.

Oil well logging is considered as one of the most vital procedures for each and every oil well that is drilled across the globe. The well logging helps the oil and gas companies in maintaining a log of several geological formations that are observed while the drilling processes. This helps the companies in analyzing the drilling related data and further offers solutions to reduce the chances of maintenance failure while the drilling procedures. With these advantages, the global market for oil well logging is projected to witness a significant growth over the next few years.

The development of the oil and gas industry across the globe and the rising number of drilling activities are anticipated to supplement the growth of the oil well logging market in the next few years. In addition to this, the strict government regulations and rules for the maintenance of well logging is likely to offer lucrative opportunities for the key players operating in the global oil well logging market in the coming years.

The growing focus of the prominent players on technological developments and the emergence of innovative and effective products are anticipated to accelerate the growth of the global market in the near future. Furthermore, the rising level of competition and the rising awareness among the oil and gas companies regarding the benefits of oil well logging are estimated to stimulate the development of the market and offer lucrative opportunities for the leading players operating in the oil well logging market across the globe.

Global Oil Well Logging Market: Overview

Oil well logging is a primary procedure that helps characterize the subsurface search for hydrocarbons. Currently, well logging has become a routine procedure for every oil well drilled in the world. Logging helps analyze drilling-related data as well as to reduce the chances of maintenance failures while drilling. In the earlier stages of its development, the applications of this process were limited to basic lithologic description and strati-graphic correlation. Today, the global oil well logging market is a crucial part in the analysis of a location in detail such as the characterization of rock facies and depositional reconstruction.

The recent advances in electronics and computer have also helped reduce the costs in the global oil well logging market and facilitated the improvements in the technology. Oil well logging is expected to gain a tremendous demand over the coming years on account of the stabilizing oil extraction industry.

Global Oil Well Logging Market: Top Drivers and Trends

The ever-increasing demand for oil as a fuel in the automotive and other industries is pushing the oil and gas industry to find ways to improve extraction procedures from their oil wells, thereby considerably pushing the global oil well logging market. As the demand for oil and crude-based derivatives increases around the world at staggering speeds, so will the rate of oil extraction, or the functioning of oil wells. This will provide the impetus that players from the global oil well logging market need to evolve their business over a greater number of locations and in a more accurate analytical sense.

The oil well logging process is, however, receiving a somewhat negative perspective from the oil and gas industry, due to its extremely high dependency on the reliability of data generated from any geographical location, a process which is relatively risky and often falls to human errors. This is currently restricting the global oil well logging market. However, the technological advancements in the geographical surveys such as seismic technology and implementation of better and automated technology for well logging brings new opportunities for the global oil well logging market.

The global oil well logging market is segmented on the basis of the types of log techniques, into electrical logs, porosity logs, and lithology logs. Electrical logs are further classified into resistivity and image logs. Resistivity logs are further classified into Latero logs and Induction logs.

Global Oil Well Logging Market: Geographical Analysis

On the basis of geography, the global market for oil well logging market can be segmented into North America, Europe, Asia Pacific, and the rest of the world. In North America, the U.S. and the Canada are the currently high value proponents in the global oil well logging market, providing better opportunities to the existing and new market players in market. In the Asia Pacific region, China, Indonesia, India, and Malaysia are the leading countries currently producing crude oil and thus attracting new investments in the oil well logging market. In Europe, Norway and the U.K. are the key countries producing crude oil. Also, Saudi Arabia and Qatar, being the leading regional producers of crude oil, are where the bulk of all opportunities lie in the global oil well logging market.

Global Oil Well Logging Market: Companies Mentioned in the Report

The key players in the global oil well logging market so far have included Advanced Reservoir Technologies, Inc., Baker Hughes Incorporated, Canadian Sub-Surface Wireline and Production Services, Inc., Cardinal Surveys Company, CL Consultants Limited, Collier Consulting, Inc., and Crosco Integrated Drilling & Well Services Co. Ltd.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?