Logging While Drilling Market Size, Industry Analysis Report By Application (On-shore Application, Off-shore Application), By Service (Rotary Steerable Systems (RSS), Logging While Drilling, Measurement While Drilling and Survey, Motor (MUD Motors)), By T

Global Logging While Drilling Market is valued at USD 10,740 million in 2023 is anticipated to reach a value of USD 15,050 million in 2033, growing at a CAGR of 4.3%. The price of fuel cell electric vehicles is directly proportional to the price of fuel cell technology. In the United States, the 2019 Toyota Mirai costs more than USD 58,500, whereas the 2019 Tesla Model 3 costs less than USD 36,000. The huge price difference between battery electric and fuel cell vehicles is a significant impediment to FCEV sales growth.

Despite technological advancements, directional drilling has remained a hot topic among oil upstream companies due to its applications, which include drilling at various angles in the field and collecting oil. Given the increased output from the end-use sector, as well as the growing shale revolution, the oil and gas logging and drilling industry is expected to have tremendous growth from increased projects over the forecast period.

With the United Nations anticipating a rise in global population from 6.7 billion in 2011 to 8.7 billion by 2035, demand for energy must rise significantly over that time. Population expansion, as well as rising living standards in many developing countries, will drive up energy demand significantly. Over 70% of the increased energy demand comes from developing countries, with China and India leading the way. According to United Nations Organisation (UNO) forecasts, urbanisation will increase from 52% in 2011 to 62% in 2035, reaching 70% globally by 2050.

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The government's restrictions for oil and gas sector development are extremely stringent. On May 22, 2013, for example, the European Union (EU) Parliament enacted a new law on the safety of oil and gas operations. Before beginning any drilling activities in EU waters, oil and gas companies are required by law to submit a detailed study on potential hazards. They must also give internal emergency response plans that outline all available equipment and resources, as well as what steps would be taken in the event of an accident. The new directive also advises all EU member states to develop external emergency response plans for any offshore drilling sites located on their jurisdiction.

Market Segmentation:

The logging while drilling (LWD) market can be segmented based on various factors. Here are some common segmentation approaches:

By Technology: The LWD market can be segmented based on the technology used. Some examples of LWD technologies include resistivity, nuclear magnetic resonance (NMR), acoustic, gamma ray, and imaging.

By Application: The market can be segmented based on the application, such as oil and gas exploration, drilling, and production. LWD technology is used extensively in the exploration phase to gather data about the subsurface formations and reservoirs.

By Location: The market can also be segmented based on the location where the drilling is being performed. LWD is used in various locations, including onshore, offshore, and deepwater drilling.

By Service Provider: The market can be segmented based on the service provider, such as Schlumberger, Halliburton, Baker Hughes, and Weatherford.

By Region: The LWD market can be segmented based on the geographical region, including North America, Europe, Asia-Pacific, Middle East, and Africa.

By Type: The market can also be segmented based on the type of LWD tool used, such as measurement while drilling (MWD), logging while drilling (LWD), and rotary steerable systems (RSS).

Competitive Analysis

Baker Hughes Incorporated, National Oilwell Varco, Weatherford International Plc., Schlumberger Ltd., and Halliburton Company, Nabors Industries Ltd., Cathedral Energy Services Ltd., Jindal Drilling & Industries Limited, and Gyrodata Incorporated among others.

Regional Analysis:

The Global Logging While Drilling Market is further segmented into five major countries- North America, Europe, Asia-pacific, Latin America, Middle East and Africa.

North America to account for the largest market size during the forecast period. Tight oil and shale gas are emerging as an important new source of energy supply in the US and Canada. Technological advancements in drilling such as long-reach horizontal well bores and completion techniques such as multi-stage hydraulic fracturing are increasing the implementation of this service in the North America region.

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FAQs:

Q. What is the growth rate projection for Global Logging While Drilling Market over the forecast period 2022-2030?

A. Global Logging While Drilling Market valued at US $10.74 Billion in 2022 is anticipated to reach a value of US $15.05 Billion in 2030, growing at a CAGR of 4.3%.

Q. Which regional segment accounts for the largest revenue in the Global Logging While Drilling Market?

A. North America to account for the largest market size during the forecast period. Tight oil and shale gas are emerging as an important new source of energy supply in the US and Canada.

Q. What are the key trends of Global Logging While Drilling Market?

A. Increase in energy demand and Stringent regulatory policies are the two major driving forces in the market.

Key Points:

Define, describe and forecast Potentiometers product market by type, application, end user and region.

Provide enterprise external environment analysis and PEST analysis.

Provide strategies for company to deal with the impact of COVID-19.

Provide market dynamic analysis, including market driving factors, market development constraints.

Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy analysis.

Keep up with international market trends and provide analysis of the impact of the COVID-19 epidemic on major regions of the world.

Analyze the market opportunities of stakeholders and provide market leaders with details of the competitive landscape.

Reasons to Purchase this Report:

Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
Provision of market value (USD Billion) data for each segment and sub-segment

Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market

Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region

Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled

Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players

The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions.

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