Logging While Drilling Market Emerging Trends, Overview, Share, Global Research, Development, Business Prospects, Companies Analysis, and Forecast 2021-2026 with Prominent Regions and Countries Data

According to the report, the logging while drilling market size is anticipated to be worth USD 5.05 by 2026, owing to the increasing onshore and offshore drilling activities. The market value was USD 2.82 billion in 2018 and is expected to rise remarkably, exhibiting a CAGR of 7.6 % within the forecast period of 2019 to 2026. This information is published in a recent report by Fortune Business Insights, titled, "Logging While Drilling Market Size, Share & Industry Analysis, By Application (Onshore, Offshore (Shallow Water, Deepwater, Ultra-Deepwater)), and Regional Forecast, 2019-2026." The report discusses various growth trajectories of the market in detail.

The global logging while drilling (LWD) market size was USD 2.82 billion in 2018 and is projected to reach USD 5.05 Billion by 2026, exhibiting a CAGR of 7.6% during the forecast period.

Highlights of the Report

The report offers a 360-degree overview of the logging while drilling market, primarily emphasizing on growth drivers, restraints, trends, challenges, and opportunities of the market.
It provides elaborative information about the competitive landscape of the market, names of market vendors, market segmentation on the basis of application, type, and others, and current logging-while-drilling market trends and industry developments.
The report also throws light on strategies such as company collaborations, mergers and acquisitions, product launches, installation of new machinery, and up-gradation of the older versions, investments in research and development, and other strategies adopted by the market players.

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Logging while drilling systems or LWD are used for obtaining real-time formation evaluation while drilling. The production capacity of the borewell to be drilled is determined by its physical properties such as density, conductivity, porosity, resistivity, saturation, and others.

Some of the significant players operating in the logging while drilling market are listed below:

National Energy Services Reunited Corp.
Nabors Industries
Baker Hughes
APS Technology Inc.
Kambi Enterprises Inc.
Scientific Drilling
Halliburton
COSL- China Oilfield Services Limited
National Oilwell Varco
Weatherford
Schlumberger
Key Industry Developments

Some of the key industry developments in the logging while drilling market includes:

July 2019 - A 3D reservoir mapping was introduced by Halliburton. This is a new logging while drilling system that uses advanced reservoir mapping process called 3D inversion for scanning overlooked features such as water zones, faults, local structural variations, and alter the path of optimal landing in a well.

October 2019 - Two drilling service contracts worth USD 67.4 million was given to Weatherford from two major operators in Russia. Weatherford will be providing services such as measurement while drilling (MWD), drilling, Logging-while-drilling, rotary steerable systems (RSS), and geo-data interpretation services in different oilfields in the Western Siberia.

Player's Efforts to Improve Well Performance and Deduct Production Cost Resulting in Huge Investments in Research and Development

Schlumberger, Weatherford, Baker Hughes, and Halliburton, are holding a significant position in the market. The strong presence of these companies in various geographies is a major factor helping them hold dominant logging while drilling market share. Companies are focusing on minimizing the cost of production and performance improvement by investing huge sums into research and development. This is further expected to increase the logging while drilling market size in the forecast period.

Increasing Demand for Energy and Power Activities to Drive Market

Logging while drilling systems or LWD are used for obtaining real-time formation evaluation while drilling. The production capacity of the borewell to be drilled is determined by its physical properties such as density, conductivity, porosity, resistivity, saturation, and others. Thus, logging-while-drilling investigates the actual physical properties of the borewell, which further helps the operator to estimate the rate of penetration, reassess and make changes in the entire process. All the above factors help to improve and fasten drilling activities for both onshore and offshore purposes. Thus, the factors mentioned above are anticipated to promote market growth in the forecast duration.

Additionally, the rise in industrialization and urbanization all over the world is propelling the demand for energy and power activities. The surge in deep-water and unconventional energy and power activities will also help earn high logging-while-drilling market revenues. Furthermore, the accelerating demand for technical expertise for cost-competitive oil and gas production is further expected to fuel the logging while drilling market growth.

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Market Segmentation -

By Application
Onshore
Offshore
Shallow Water
Deepwater
Ultra-Deepwater
By Region
North America (U.S. and Canada)
Latin America (Brazil, Mexico, Argentina, Venezuela, and Rest of Latin America)
Europe (UK, Germany, Norway, Italy, Russia, and Rest of Europe)
Asia Pacific (China, India, Indonesia, Thailand, Australia, and Rest of Asia Pacific)
Middle East & Africa (Saudi Arabia, UAE, Oman, Kuwait, Algeria, Angola, Egypt, and Rest of Middle East & Africa)

North America to Remain Dominant Despite Fluctuating Crude Oil Prices

From a geographical perspective, Fortune Business Insights foresees the global logging while drilling market to be segmented into the regions of Latin America, Europe, North America, Asia Pacific, and the Middle East and Africa. As per current LWD market trends, North America is holding a significant position in the overall oil and gas sector worldwide with market size of USD 1.13 billion in 2018. Despite the fluctuating prices of crude oil, the U.S. is investing huge sums on drilling-related goods and services. Companies having their base in this region are focusing on investing huge sums in drilling activities in the region. The production and exploration activities in the U.S. are stimulated by the continuous demand for oil and gas. Additionally, the market has also been positively impacted by the shale gas revolution, thus making this region emerge dominant.

As per the World Oil Report, there is a 12% surge in the overall drilling activity in the U.S. upto 27, 095 wells in 2017 as compared to the previous year. Thus, the surge in drilling activities in oil and gas reserves is further anticipated to help this region continue dominance in the forecast period as well.

MARKET DRIVERS

Oilfield service companies are strategically planning the overall exploration for cost-competitive production of oil and gas. Various techniques are used to enhance the performance of the well to maximize the production. Logging-while- drilling provides precise formation evaluation which is quintessential in making sensible decisions about the future well operations. It not only helps the operator to get actual information of the well but also reduces the complications involved in the production.

The economic growth across the world is driven by the expansion of industries, growing urbanization, technological advancement, and rising capital expenditure among others. Energy is a vital part of the development process and hence various emerging regions witnessing the significance of E&P activities that anticipated the growth of the market.

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What does the Report Include?

The market report includes quantitative and qualitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers the different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves leading companies and adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to extract information about the current trends and industry developments that will drive the market growth in the forthcoming years.

KEY QUESTIONS ANSWERED:

What is the market size and growth rate of the global and regional market by various segments?
What is the market size and growth rate of the market for selective countries?
Which region or sub-segment is expected to drive the market in the forecast period?
What Factors are estimated to drive and restrain the Europe Prothrombin Complex Concentrate Market growth?
What are the key technological and market trends shaping the market?
What are the key opportunities in the market?
What are the key companies operating in the market?
Which company accounted for the highest market share?

Research Methodology:

We follow a robust research methodology that involves data triangulation based on top-down, bottom-up approaches, and validation of the estimated market numbers through primary research. The information used to estimate the market size and forecast for various segments at the global, regional, and country level is derived from the most credible published sources and through interviews with the right stakeholders.

The Growth rate or CAGR exhibited by a market for a certain forecast period is calculated on the basis of various factors and their level of impact on the market. These factors include market drivers, restraints, industry challenges, market and technological developments, market trends, etc.

Key questions answered in Logging While Drilling Market report:

What will the market growth rate of Logging While Drilling Market in 2021?
What are the key factors driving the global Logging While Drilling Market?
Who are the key manufacturers in Logging While Drilling Market space?
What are the market opportunities, market risk and market over view of the Logging While Drilling Market?
What are sales, revenue, and price analysis of top manufacturers of Logging While Drilling Market?
Who are the distributors, traders and dealers of Logging While Drilling Market?
What are the Logging While Drilling Market opportunities and threats faced by the vendors in the global Logging While Drilling Market?
What are sales, revenue, and price analysis by types and applications of Logging While Drilling Market?
What are sales, revenue, and price analysis by regions of Logging While Drilling Market?
With tables and figures helping analyze worldwide Global Logging While Drilling Market Forecast this research provides key statistics on the state of the industry and should be a valuable source of guidance and direction for companies and individuals interested in the market.

Detailed Table of Content -

Introduction
Research Scope
Market Segmentation
Research Methodology
Definitions and Assumptions
Executive Summary
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Key Insights
Key Emerging Trends - For Major Countries
Latest Technological Advancement
Regulatory Landscape
Industry SWOT Analysis
Porters Five Forces Analysis
Value Chain Analysis
Global Logging While Drilling Market Analysis (USD Billion), Insights and Forecast, 2015-2026
Key Findings / Summary
Market Analysis, Insights and Forecast - By Application
Onshore
Offshore
Shallow Water
Deepwater
Ultra-Deepwater
Market Analysis, Insights and Forecast - By Region
North America
Latin America
Europe
Asia Pacific
Middle East and Africa
North America Logging While Drilling Market Analysis (USD Billion), Insights and Forecast, 2015-2026
Key Findings / Summary
Market Analysis, Insights and Forecast - By Application
Onshore
Offshore
Shallow Water
Deepwater
Ultra-Deepwater
Market Analysis, Insights and Forecast - By Country
U.S.
Canada
TOC Continued...!!!

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