The fixed-line services market is expected to grow at less than 3% CAGR during the forecast period. Global upstream oil and gas investment in 2018 was about $476 billion, an increase of 6% over the previous year. According to Oil & Gas UK estimates, European oil and gas exploration and production companies are expected to spend about $265 billion between 2019 and 2035. With growing demand for oil and natural gas, growing upstream investment, etc., the global oil and gas sector is expected to drive the number of exploration and production activities, leading the wired services market during the forecast period. However, crude oil prices were very volatile in 2018, fluctuating between $85 and $50 a barrel by the end of the year. This volatility in oil prices remains a growing concern in the upstream industry. Therefore, this is expected to hinder the market during the forecast period.
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Wireline Services Market Segmentation
By Wireline Type
• Electric line
• Slickline
By Service
• Completion
• Well Intervention
• Logging
By Hole Type
• Cased-Hole
• Open Hole
By Application
• Onshore
• Offshore
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