According to a new market report published by Transparency Market Research “Wireline Services Market - Global Industry Analysis Size Share Growth Trends and Forecasts 2014-2020,” wireline services market was USD 19.10 billion in 2014 and is expected to reach USD 34.96 billion by 2020, growing at a CAGR of 10.36% from 2014 to 2020.
The oil field service companies accommodate the wireline services to the exploration and production (E&P) companies of oil & natural gas. There has been a continuous increase in the exploration and production activities of oil & gas in finding new areas of unconventional resources, which has immensely bolstered the growth of the global wireline services market. These wireline services are required by the oil and gas industries for its entire lifecycle which includes exploration, drilling, completion, stimulation, and intervention. The growth of the wireline services market is directly proportional to the drilling and completion activities around the world.