Global Mud Logging Unit Market Size & Forecast 2022 | Key Players: SDP Services Ltd., DHI Services, Inc.

Historically, mud logging units were the most basic type of well log. The mud logger's command, primarily, was to describe the lithology of formation and record depth.

Over the coming years, the demand for these equipment will gradually increase as according to experts, the demand for natural gas is expected to increase by more than 70% by 2025, i.e. from 90 to 156 trillion cubic feet. Also, the greatest demand for natural gas would be coming from emerging economies. Given the current consumption rate, emerging economies in Asia are expected to almost triple.

Historically, mud logging units were the most basic type of well log. Eventually, the scope of mud logging has expanded as additional sensors, such as weight on bit, gas chromatographs and mud pit level indicators, have begun to bring more data into logging units.The mud logger's command, primarily, was to describe the lithology of formation and record depth. Since its commercial introduction in 1939, mud logging units have become a center for monitoring formation responses to drilling process.

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However, sometimes compressed air is used as a circulating medium instead of a mud logger, which is far by most commonly used substance. Thus, an alternative and more accurate name used is "surface logging" and those who carry out the procedure are referred to as pore pressure engineers or formulation evaluation engineers. Primarily, mud logging strives to successfully identify potentially productive sites for drilling by looking for out hydrocarbon-rich formations.

Due to increasing energy consumption, the demand for oil & gas refineries has increased globally, which are required to meet this rising demand. For instance, Russia is the largest producer of natural gas. In Asia-Pacific, Indonesia is the largest producer of natural gas and South Korea, China and India are relatively small consumers of natural gas in the region. The largest producer of natural gas in Africa is Nigeria and Egypt is the second largest producer of natural gas in Africa. In Middle East, UAE and Iran are major producers of natural gas in the region.

Companies are implementing new technologies for these equipment to maintain their position. Most of the big manufacturers are investing in this technology on account of increasing demand from oil & gas sector. Mud logging requires a good deal of diligence and attention and thus, companies are also investing in training of their employees to build their skills in this area.

Regional Market Outlook

The global Mud Logging Unit market is segmented into the following regions - Middle East and Africa, China, India, North America, Latin America, Eastern Europe, Western Europe, Japan and South East Asia. India and China have been dominant in the Global Mud Logging Unit market mainly due to increasing demand from oil & gas industry. In North America, the USA is a prominent market due to the high demand from the natural gas industry. Eastern and Western Europe are also expected to provide moderate opportunities due to increasing awareness about Mud Logging Units. Latin America is also expected to grow with significantly high CAGR due to rising demand from countries, such as Brazil and Mexico. Growth in the Middle East and African region is expected to be considerably less as compared to the other regions.

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Key Players

The key players ruling the global Mud Logging Unit market are Jindal Drilling & Industries Limited, Excellence Logging, Oil Field Instrumentation Ltd., Schlumberger Limited, SDP Services Ltd., DHI Services, Inc., Specialist Services Group, ATCO Group, Weatherford International, Naftagas Offline Services and Geolog.

Brief Approach to Research

FMI will follow a modelling-based approach and triangulation methodology to estimate data covered in this report. A detailed market understanding and assessment of the nature, product type and end uses of the product segments covered in the study is followed by a demand-side analysis to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data is collected at a regional level and consolidated and synthesized at a global level to estimate the overall market sizes.

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.