Global Slickline Services Market: Overview
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.
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Global Slickline Services Market: Competitive Landscape
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:
- AOS Orwell Ltd.
- Archer Ltd.
- Baker Hughes Co.
- Expro Holdings UK 2 Ltd.
- Halliburton Co.
- Pioneer Energy Services Corp.
- Schlumberger Ltd.
- Superior Energy Services Inc.
- Weatherford International Plc
- Wellservices BV
Global Slickline Services Market: Key Trends and Drivers
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:
- One major factor is domination of onshore activity, which accounted for a major share in the last few years owing to ease of drilling as compared to offshore. Besides, as crude oil prices recover, onshore projects would see a massive increase in activity, leading to a higher demand for slickline services.
- Move from conventional to digital services, which are perceived as being able to perform more tasks, and provides better control and capabilities of monitoring, particularly of downhole operations, is leading to higher demand in the market, helping it take on a decent trajectory over the forecast period. Besides, it is worth noting that accurate measurement of tension, deviation, and temperature also add to the popularity of digital services.
Global Slickline Services Market: Regional Analysis
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.
- Well Completion
- Well Intervention
By Location of Deployment
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