Well Logging Equipment Market size shall reach a value of $2x61.4 Million in 2027, growing with a CAGR of 12.13% during the forecast period of 2020 to 2027.
Market Definition / Research Scope
Well logging equipment, also referred to as borehole logging equipment, is used in drilling boreholes for ground water, oil & gas, geothermal and minerals and in environmental studies and geotechnical. Well logging equipment measures properties of geological strata in well digging and traces the data from down-hole using sensor tools plotted in a wells depth. They are also used in collecting, observing, analysing, and recording wellbore returns like liquids, gases and solids during drilling by ore and rock analysis, geochemistry, geophysics, etc.
Well logging equipment can be used to get information on geologic layers like the hydrocarbon zones. It has applications in offshore and deep water oil & gas production and exploration activities, in metal and mining, paints and coating, transportation, energy, textiles, plastic, water injection wells, water production wells, and water observation wells.
The onshore segment dominates the well logging equipment market. Favourable government regulations, existence of top market players, the exploitation of shale resources and large scale mining projects have made North America the market dominator.
The market is fragmented due to the presence of few global and domestic market players. The manufacturers and vendors promote and sell equipment through their online sales websites. Manufacturers are also using strategies like new product development and product quality enhancements to cater for market needs.
Well Logging Equipment Market Growth and Trends
Driving factors for the industry :
•Infrastructural development owing to positive economic growth is expected to drive the overall well logging equipment market growth.
•Rising demand for the use of well logging equipment in different applications like production wells, water injection wells, and observation wells will boost the demand for well logging equipment across the world and drive the growth on a larger scale.
•With unstoppable rise in the cost of well digging, mainly offshore wells together with special requirements of digging unconventional reservoirs, well logging and formation evaluation is found to be cost effective.
•Natural gas is considered as the transitional fuel and is used in many applications like industrial, marine, and transportation, hence increasing the demand for well logging tools will increase as it is an important part of drilling and well production functions.
•Increasing investment opportunities particularly in developing countries such as China and India is projected to boost the well logging equipment market in the upcoming future.
•The rising demand for well logging equipment due to machine upgrade is forcing
the mining corporations towards attaining maximum productivity to offer profitable business opportunities to the well logging equipment market in the coming future.
•Growing demand for well logging equipment in the oil & gas industry, in order to have information about geologic layers like the hydro carbon zones, is anticipated to drive the well logging equipment market.
•The global well logging tools market is projected to grow at a significant growth rate during the forecast period due to potential increase in recoverable resources, exploration and production in the developing regions including Asia-Pacific and the Middle East & Africa.
•The rising level of competition and awareness among the oil and gas companies regarding the benefits of oil well logging are anticipated to stimulate the development of the market and offer lucrative opportunities for the leading players in the oil well logging market across the globe.
•The recent advances in electronics and computer have also helped reduce the costs in the global well logging market and facilitated the improvements in the technology. Oil well logging is expected to achieve a huge demand over the coming years owing to the stabilizing oil extraction industry.
Challenges for the industry :
The well logging process is getting a negative perspective from the oil and gas industry, owing to its extremely high dependency on the reliability of random data collected from any geographical location, because this process is relatively risky and often subject to human errors, limiting the global well logging market and posing as a challenge.
Well Logging Equipment Market Regional Analysis
Well Logging Equipment Market Share and Competition
Key companies operating in this industry are: Century Geophysical, L.L.C., CNPC (China National Petroleum Corporation), GE Oil & Gas, Horizon Well Logging, Hotwell, Keller America, Inc., Mount Sopris Instruments, MXROS, Robertson Geologging LTD, Schlumberger Limited, Felix Technology Inc., DGRT Pty Ltd., and ANTARES Datensysteme GmbH.
Well Logging Equipment Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2020 – 2027)
• Data breakdown for every market segment (2020 – 2027)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Product Type Analysis (Revenue, USD Million, 2020 - 2027)
• Geological Logging Machine
• Comprehensive Logging Machine
Logging Units Analysis (Revenue, USD Million, 2020 - 2027)
• VDSL (Variable Density Sonic Logging) Tools
• CCL (Casing Collar Locator)
• Others
Well Type Analysis (Revenue, USD Million, 2020 - 2027)
• Vertical
• Horizontal
Distribution Channel Analysis (Revenue, USD Million, 2020 - 2027)
• Direct Sales (OEM)
• Indirect Sales (Distributor and Wholesaler)
Application Analysis (Revenue, USD Million, 2020 - 2027)
• Production Wells
• Water Injection Wells
• Observation Wells
• Other
Region Analysis (Revenue, USD Million, 2020 - 2027)
• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United Kingdom
• Russia
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• Middle East
• Japan
• Africa
• Rest of World
Well Logging Equipment Market Companies
• Century Geophysical, L.L.C.
• CNPC (China National Petroleum Corporation)
• GE Oil & Gas
• Horizon Well Logging
• Hotwell
• Keller America, Inc.
• Mount Sopris Instruments
• MXROS
• Robertson Geologging LTD
• Schlumberger Limited
• Felix Technology Inc.
• DGRT Pty Ltd.
• ANTARES Datensysteme GmbH
Available Versions: -
United States Well Logging Equipment Market Research Report
Europe Well Logging Equipment Market Research Report
Asia Pacific Well Logging Equipment Market Research Report
India Well Logging Equipment Market Research Report
