Global Logging While Drilling Market, By Product (Gamma Ray Systems, Resistivity Systems, Imaging Systems, Others), Application (Onshore, Offshore) – Industry Trends and Forecast to 2029
Market Analysis and Size
There has been a surge in the drilling and completion activities, which largely create demand for the logging while drilling (LWD). Also over the years, the directional drilling technology has largely witnessed high adoption due to its high productivity and ability to acquire the underlying oil and gas reserves. These determinants are expected to contribute to market growth and expansion at the same rate during the anticipated period.
Global logging while drilling Market was valued at USD 0.60 billion in 2021 and is expected to reach USD 1.12 billion by 2029, registering a CAGR of 8.00% during the forecast period of 2022-2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.
Market Definition
Logging while drilling is transporting well logging gear downhole as part of the bottom hole assembly. Logging while drilling (LWD) is also widely referred as Measurement while drilling (MWD) are terminology used interchangeably to describe methods and procedures for collecting down-hole data while drilling without the need to remove drill pipe from the well.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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By Product (Gamma Ray Systems, Resistivity Systems, Imaging Systems, Others), Application (Onshore, Offshore)
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Countries Covered
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U.S., Canada, Mexico, Germany, Poland, Ireland, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Chile, Rest of South America, UAE, Saudi Arabia, Egypt, Kuwait, South Africa, Rest of Middle East and Africa
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Market Players Covered
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Baker Hughes Company (U.S.), Schlumberger Limited (U.S.), Halliburton (U.S.), NOV Inc (U.S.), Weatherford (U.S.), Nabors Industries Ltd. (Bermuda), APS Technology, Inc. (U.S.), Maxwell Downhole Technology (UK), Scientific Drilling International (Texas), PnnPlus (China), TMG Manufacturing (U.S.), Liaoning Tolian Technology development Co., Ltd (China), Hunt & Hunt, Ltd. (U.S.) and Joidesresolution (U.S.)
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Market Opportunities
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Logging While Drilling Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Increased Advantages of Logging While Drilling
It eliminates the necessity for a logging truck in the logging operation. The use of robotic logging technology minimizes logging time and the demand for other types of apparatus. Some of the benefits of robotic logging include reduced NPT, lower energy use, and a faster reaction rate. These advantages are estimated to carve a way for the growth of the Market.
The increasing oil and gas discoveries coupled with the liberalization in the industry will further propel the growth rate of logging while drilling Market. Additionally, globally, increasing drilling and completion activities will also drive market value growth. The riding on the optimism associated with the recovery of crude oil prices, onshore projects are also projected to bolster the growth of the Market.
Opportunities
- Development and Investments
Furthermore, significant investments in research and development activities further extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the various developments by the market players will further expand the future growth of the logging while drilling Market.
Restraints/Challenges
- Lack Of Research And Development
The lack of research and development activities will create hindrances for the growth of the logging while drilling Market.
- Volatile Prices
Also, the volatile oil prices over the recent period, owing to the supply-demand gap, geopolitics and several other factors will prove to be a demerit for the logging while drilling Market. Therefore, this will challenge the logging while drilling market growth rate.
This logging while drilling market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the Market. To gain more info on the logging while drilling market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Logging While Drilling Market
The recent outbreak of coronavirus had a negative impact on the logging while drilling Market as it led to decline in the drilling activities and development that has largely reduced the demand for the oil field services. Furthermore, the severe disruptions in operations due to the various precautionary lockdowns imposed by governments to curb the spread of disease led to huge financial setback for the Market. Over the forecast period, the aforementioned determinants will weigh on the Market's revenue trajectory.
On the brighter side, the Market is estimated to revive as individual regulatory bodies begin to relax these enforced lockdowns. The suspended and cancelled operations will continue and as a result the Market is estimated to expand.
Global Logging While Drilling Market Scope
The logging while drilling Market is segmented on the basis of product and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Gamma Ray Systems
- Resistivity Systems
- Imaging Systems
- Others
Application
- Onshore
- Offshore
Logging While Drilling Market Regional Analysis/Insights
The logging while drilling Market is analyzed and market size insights and trends are provided by country, product and application as referenced above.
The countries covered in the logging while drilling market report are are U.S., Canada, Mexico in North America, Germany, Poland, Ireland, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Chile, Rest of South America as a part of South America, UAE, Saudi Arabia, Egypt, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa(MEA).
North America dominates the logging while drilling Market because of the rapidly increasing oil and gas activities within the region. Asia-Pacific on the other hand, is estimated to show lucrative growth due to the growing hydrocarbons and increased demand for oil and gas in the region.
The country section of the report also provides individual Market impacting factors and changes in market regulation that impact the current and future trends of the Market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Logging While Drilling Market Share Analysis
The logging while drilling market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to logging while drilling Market.
Some of the major players operating in the logging while drilling Market are
- Baker Hughes Company (U.S.)
- Schlumberger Limited (U.S.)
- Halliburton (U.S.), NOV Inc., (U.S.)
- Weatherford (U.S.)
- Nabors Industries Ltd. (Bermuda)
- APS Technology, Inc. (U.S.)
- Maxwell Downhole Technology (UK)
- Scientific Drilling International (Texas)
- PnnPlus (China)
- TMG Manufacturing (U.S.)
- Liaoning Tolian Technology development Co., Ltd (China)
- Hunt & Hunt, Ltd. (U.S.)
- Joidesresolution (U.S.)
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