As onshore drilling gains popularity owing to lower operating costs, adoption increases and this leads to emergence of a number of wells that are ageing. To ensure better productivity from these wells, certain tasks need to be carried out such as change of downhole plugs and removal of wax. And, these require slickline services, helping the market grow considerably over the forecast period. Besides, it is worth noting that the steady CAGR (Compound Annual Growth Rate) will lead to the market presenting its players with great opportunities of growth. This is set to keep the market players active and on their toes over the forecast period of 2018 to 2028.
The global slickline services market is experiencing a slew of moves that are aimed at bringing innovation to the market landscape. Besides, a special focus of players on digital is also noted. It is also quite interesting to note that while the steady CAGR will lead to a number of business opportunities emerging in the market landscape, restraints such as increasing concerns regarding impact of exploration and production activities on the environment, volatile oil prices, and impact of geopolitics will hamper growth to a certain extent.
It is also worth noting here that the global slickline services market is quite fragmented, credit a large number of players marking the playfield. Some of the key ones include the following:
The landscape of global slickline services market is set to ride the wave of a number of a number of growth drivers and trends. The ones that are prominent are outlined below:
In 2019, North America held a major share of the global slickline services market and the trend will continue into the forecast period of the upcoming report. Some of the factors that help the regional market grow as per projections are increase in the number of oil and gas projects – both onshore and offshore – and increase in government initiative and in investments towards exploration and production activities.
It is worth noting here that in North America, two countries hold a considerable sway – United States of America, and Canada.
Besides, players would have a keen eye on growth of South America, that projects a promising outlook for global slickline services market players over the forecast period.
By Location of Deployment
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