Well Logging Equipment: Introduction
- Well logging equipment, also known as borehole logging equipment, is used in boreholes drilled for groundwater, oil & gas, geothermal, and mineral exploration, as well as in geotechnical and environmental studies.
- Well logging equipment is used to collect, observe, analyze, and record wellbore returns such as liquids, gases, and solids during drilling, by ore and rock analysis, geochemistry, geophysics, and other methods. Furthermore, well logging equipment is used to trace the data from downhole sensor tools plotted in the depth of a well.
- Well logging equipment is used for measuring the properties of geologic strata through which a well is being drilled.
- The global well logging equipment market is expected to grow at a rapid pace over the forecast period owing to increased demand for well logging equipment in the residential and commercial sector.
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Global Well Logging Equipment Market: Dynamics
Global Well Logging Equipment Market: Key Drivers
- Rise in infrastructure spending due to positive economic growth is expected to drive overall well logging equipment market growth.
- Increasing demand for the use of well logging equipment in various applications such as production wells, water injection wells, and observation wells is expected to boost the demand for well logging equipment across the globe.
- Growing investment opportunities especially in developing countries such as China and India is anticipated to boost the well logging equipment market in the coming years.
- The growing demand for well logging equipment due to machine upgrade, apart from the shifting focus of mining corporations toward attaining maximum productivity is projected to offer profitable business opportunities to the well logging equipment market in the near future.
- Increasing demand for well logging equipment in the oil & gas industry, so as to obtain information about geologic layers such as the hydro carbon zones, is expected to drive the well logging equipment market.
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North America to Hold a Major Share of the Global Well Logging Equipment Market
- In terms of region, the global well logging equipment market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
- North America held leading share of the global well logging equipment market in terms of volume and revenue in 2018 and is projected to continue its dominance through the forecast period 2019- 2027. The U.S. is a key market for well logging equipment in North America due to large-scale mining projects coupled with increase in construction of high-rise buildings in the country that is expected to influence the well logging equipment market in North America.
- Asia Pacific is predicted to be the fastest growing market over the forecast period as compared to other regions due to large scale infrastructure investment projects which are anticipated to accelerate the well logging equipment market in the region.
- Europe and MEA are expected to see enhanced growth of the well logging equipment market due to high demand for exploration and boring along with developments in the mining sector. This in turn is expected to accelerate the growth of the well logging equipment market over the forecast period.
Global Well Logging Equipment Market: Competition Landscape
Key Players Operating in the Global Well Logging Equipment Market
Several local and regional players operate in the global market for well logging equipment. The well logging equipment market is fragmented due to the presence of few global and several domestic players. Most of the manufactures and vendors promote and sell their well logging equipment through their own online sales website. Manufacturers of well logging equipment are adopting key strategies of new product development and enhancement in the quality of product & delivery processes. Key players operating in the global well logging equipment market are:
- Century Geophysical, L.L.C.
- CNPC (China National Petroleum Corporation)
- GE Oil & Gas
- Horizon Well Logging
- Keller America, Inc.
- Mount Sopris Instruments
- Robertson Geologging LTD
- Schlumberger Limited.
- Felix Technology Inc.
- DGRT Pty Ltd.
- ANTARES Datensysteme GmbH
Global Well Logging Equipment Market: Research Scope
Global Well Logging Equipment Market, by Product Type
- Geological Logging Machine
- Comprehensive Logging Machine
Global Well Logging Equipment Market, by Logging Units
- VDSL (Variable Density Sonic Logging) Tools
- CCL (Casing Collar Locator)
Global Well Logging Equipment Market, by Well Type
Global Well Logging Equipment Market, by Distribution Channel
- Direct Sales (OEM)
- Indirect Sales
Global Well Logging Equipment Market, by Application
- Production Wells
- Water Injection Wells
- Observation Wells
Global Well Logging Equipment Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.