- 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
- Hotwell
- Keller America, Inc.
- Mount Sopris Instruments
- MXROS
- Robertson Geologging LTD
- Schlumberger Limited.
- Felix Technology Inc.
- DGRT Pty Ltd.
- ANTARES Datensysteme GmbH
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