USD 8.7 billion
Slickline Services Market Size, Share, Growth Analysis, By Slickline Tools (Pulling Tools, Gauge Cutter), By Deployment (Onshore, Offshore), By Operation (Well Completion, Well Intervention), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG15A2414 |
Region:
Global |
Published Date: November, 2024
Pages:
157
|Tables:
64
|Figures:
69
Slickline Services Market Insights
Slickline Services Market size was valued at USD 8.93 Billion in 2023 and is poised to grow from USD 9.16 Billion in 2024 to USD 11.24 Billion by 2032, growing at a CAGR of 2.60% during the forecast period (2025-2032).
With the continuous technological development in the world, there is a constant demand for the slickline services market. As a result, oil and gas exploration activities have increased dramatically worldwide. The increase in the demand for slickline services in the industry is primarily due to increased exploration activities. Due to low operating costs, mining is frequently carried out on site. To get the most out of this well, many other maintenances and tasks such as waste collection and downhole plug replacement must be completed for maximum production, all these methods require slickline efficient work. Many large companies are now investing heavily in drilling new wells to meet market demand for fuel. For example, ONGC announced plans to drill more than 200 wells in India's Assam state by 2019. This development is estimated to boost slickline services soon, but volatility in crude oil prices hampers market growth.
Expansion of oil and gas exploration and increased focus on oil and gas production from oil-rich fields are the major drivers of the global slickline services industry.
The global slickline services market is expected to grow rapidly during the forecast period. Global exploration and production (E&P) of oil and gas has increased with the expansion of natural gas production. However, the complexity of manufacturing in slickline services may restrain the expansion of the global market.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Onshore
Fastest Growth
offshore
Growth Rate
2.60% CAGR
Global Slickline Services Market ($ Bn)
Country Share for North America Region (%)
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Slickline Services Market Segmental Analysis
Global Slickline Services Market is segmented by Slickline Tools, Deployment, Operation, and region. Based on Slickline Tools, the market is segmented into Pulling Tools, Gauge Cutter, Downhole Bailer, Bridge Plug, and Others. Based on Deployment, the market is segmented into Onshore, and Offshore. Based on Operation, the market is segmented into Well Completion, Well Intervention, and Logging. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Tool
The pulling tools segment will be the largest part of the business and is predicted to grow at the highest rate during the forecast period as these tools are used to host plugins and other live components. All these factors account for the largest share of the traction machine segment in the industry.
A gauge cutter is a type of equipment used in slickline operations in the oil and gas industry. The role of the gauge cutter segment in the slickline service market is critical for various downhole interventions. Slickline facilities typically use a gauge cutter to reduce debris, scale, or other material that may accumulate in the wellbore. This is necessary to ensure proper well operation and to prevent obstruction that could block oil or gas flow.
Analysis by Application
Onshore drilling includes all onshore drilling areas and accounts for 70% of global oil production. Onshore drilling is like offshore drilling but without deep water complications between the platform and the oil. Global oil prices are showing recovery and growing faster, offshore projects are less likely to be started than offshore so onshore projects are likely to grow significantly over the forecast period driven by the prospects associated with a recovery in oil prices.
The role of the offshore segment in the slickline services market is essential to the continued production, safety and integrity of the offshore oil and gas wells. Slickline operations require specialized knowledge and equipment for the challenges posed by offshore environments. Slickline applications play an important role in the oil and gas industry, especially in offshore operations were maintaining and optimizing well performance is paramount Slickline applications use slickline tools that use flexible thin lines or cables or lines to oil and gas wells for various projects.
Global Slickline Services Market By Application
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Slickline Services Market Regional Insights
North America is likely to dominate the slickline services market and is expected to grow significantly throughout the forecast period. The offshore oil and gas industry in North America is becoming more competitive due to efficiencies and factors that are provided due to difficulties caused by offshore drilling. Debt is falling in the US. the government has begun selling U.S.-produced oil and gas. The government has acquired more than 80.9 million hectares by 2021. In addition, recent developments in shale plays, horizontal drilling and fracking have led to significant growth in drilling and completion demand in the country. North America is estimated to hold the largest market share during the forecast period due to rising per capita energy consumption and E&P in oil and gas in the region The rig count in North America is 1,082 in in 2017, up from 2018, according to Baker Hughes International Rig Count, 2019 data Rig count rose to 1,223 for the year. The growth in oil and gas E&P is driving demand for slickline operations while these applications are used in the recovery of downhole equipment and in support of oil and gas production. Additionally, according to the Annual Energy Survey become the largest energy exporter by 2020 due to increase in domestic oil and gas production Also, according to the report, crude oil production is expected to reach 14.0 million barrels per day (b/d) by 2040. Increasing oil and gas E&P is therefore expected to drive the demand for slickline services in North America by 2040.
Another factor positively affecting the industry is the expansion trend driven by expansion of drilling and completion activities in Asia-Pacific to meet the growing energy demand of population Growing oil and gas discoveries, which the industry of freedom around the world, brought new opportunities for players to invest. Another factor positively affecting the industry is the expansion trend due to expansion of drilling and completion activities in Asia-Pacific to meet the growing demand for manpower Growing oil and gas discoveries, with liberalization of the industry around the world, brought new opportunities for players to invest.
Global Slickline Services Market By Region
- Largest
- Fastest
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Slickline Services Market Dynamics
Slickline Services Market Drivers
Growing Demand for Oil
- The major factors driving the expansion of the global slickline service industry are the growing demand for oil and gas and increasing efforts to produce oil and gas in mature production areas. The expansion of oil and gas production can be attributed to improved economic conditions worldwide. Furthermore, according to the same report, the use of natural gas for electricity generation increased from 5,952.8 terawatt-hours (TWh) to 6,182.8 TWh. Production is expected to increase during the forecast period with increase in natural gas production Due to increase in global oil and gas demand and production (E&P) A key factor observed in the global SWL process industry is money closure of increased SWL functional products. Due to the extensive use of these products in the oil and gas industry, most of the industry players are focusing on expanding their production reach.
Increasing Demand for Gas
- Globally, the continued demand for oil and gas is increasing the need for efficient construction and maintenance of oil and gas wells. Slickline operations play an important role in ensuring the efficiency of these wells, thus increasing demand. The slickline service offers a cost-effective solution for routine well intervention and maintenance compared to more complex methods such as wireline or coiled tubing. This cost efficiency is attractive to oil and gas operators, especially in mature fields where production efficiencies are needed.
Slickline Services Market Restraints
High Costs of Oil
- The main limitations identified in the SLS industry are the volatility of oil prices and capital requirements for oil well exploration. Oil prices have plummeted in recent years, eroding oil companies’ profits. Thus, delayed expansion planning will hamper the expansion of SWL services in the coming years.
Environmental Safety Concerns
- Slickline operations require hazardous materials and work in harsh environments, a risk to worker safety and environmental integrity. Code that is stringent and safety standards add complexity and cost to slickline applications, which act as a limitation. New methods of well intervention such as wireline, coiled tubing, and hydraulic workover units (HWUs) provide some application advantages in slickline applications. Competition from these new technologies may have restrained the growth of the slickline services market.
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Slickline Services Market Competitive Landscape
The competitive environment of the global Slickline Services market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. The global market competitive landscape provides detailed information from competitors. Detailed information includes company overview, company financials, earnings, market potential, investment in research and development, new market strategy, global presence, manufacturing regions and locations of production, manufacturing capacity, company strengths and weaknesses, product launches, product expansion and expansion, application authority.
Top Player’s Company Profiles
- Pioneer Energy Services Corp.
- Weatherford International PLC
- National Oilwell Varco
- Halliburton Company
- Expro Group
- Schlumberger Limited
- Reliance Oilfield Services
- Superior Energy Services Inc.
- Basic Energy Services Inc.
- Baker Hughes
- GE Co.
- Archer Limited
Recent Developments
- In October 2021, the National Energy Agency announced several pipeline drilling and exploration projects in the GCC, totaling more than $150 million.It also revealed that multi-year contracts include slickline services, tubular running services and testing services with several domestic oil companies.
- In September 2021, Reserve Link Energy Bhd, a subsidiary of Reserve Link Sdn Bhd, won a contract from Sarawak Shell Bhd/Sabah Shell Petroleum Company Limited to provide slickline equipment and services in Malaysia.
- In April 2021, Beach Energy had announced a termination notice to Diamond Offshore for its yr-long offshore drilling software within the Otway basin in Southern Australia with the semi-submersible Ocean Onyx. This was a result of the logistical difficulties due to the CoVID-19 pandemic. This has driven an increase in the drilling and final touch activities globally, driving the demand for slickline services. In 2021, Saipem was provided new onshore drilling contracts within the Middle East and South America well worth USD 70 million.
Slickline Services Key Market Trends
Increasing Importance of Wireless Applications
- Increasing calls and mobile devices could drive the global industry to slickline services. Furthermore, the increasing importance of wireless applications and increasing consumer trends are predicted to drive the expansion of the industry in the global Slickline applications used in the oil and gas industry is noteworthy due to factors as it is done due to increased activity in the industry. Furthermore, the pipelines, which are of high importance for oil and gas hydraulic fracturing companies, may affect the global steel pipeline industry's expansion soon. These projects improve oil and gas production and operational efficiency over time and costs, which will allow the business to grow more globally.
Slickline Services Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Slickline refers to a single thread of wire or cable that is inserted into the bottom of the well to deliver or receive material from the bottom hole. Hardware parts include plugs, valves, gauges, and other equipment that can be repaired with slickline tools. Slickline operations are part of downhole tool recovery. These services include maintenance, removal of downhole material, completion of flow, installation of hydraulic packers using sealing plugs, etc. In addition, Slickline Services can measure depth and the excavation of a well. Oil prices worldwide are showing recovery and are growing faster, and it is easier to start onshore projects than offshore projects. Thus, based on the prospects associated with rising oil prices, onshore infrastructure will register a significant expansion during the forecast period, thereby boosting the global slickline services market.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 8.7 billion |
| Market size value in 2031 | USD 10.96 billion |
| Growth Rate | 2.60% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Slickline Services Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Slickline Services Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Slickline Services Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Slickline Services Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Slickline Services Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Slickline Services Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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