Slickline Services Market by Application and Geography - Forecast and Analysis 2020-2024

The global slickline services market size has the potential to grow by USD 943.28 million during 2020-2024. The market’s growth momentum will accelerate throughout the forecast period.

This report provides a detailed analysis of the market by geography (APAC, Europe, MEA, North America, and South America) and application (onshore and offshore). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including AOS Orwell Ltd., Archer Ltd., Baker Hughes Co., Expro Holdings UK 2 Ltd., Halliburton Co., Pioneer Energy Services Corp., Schlumberger Ltd., Superior Energy Services Inc., Weatherford International Plc, and Wellservices BV.

Market Overview

Market Competitive Analysis

The slickline services market is currently fragmented. The degree of fragmentation will remain the same over the forecast period. Vendors are innovating and introducing digital slickline services to improve their sales. Superior Energy Services Inc., Weatherford International Plc, and Wellservices BV are a few of the significant market participants. Although the accelerating market growth momentum will offer immense business opportunities to the vendors, environmental concerns related to exploration and production (E&P) activities will challenge the growth of many. To make the most of the opportunities, market vendors should focus more on growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market positions, this slickline services market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of the companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. This slickline services market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of their future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading slickline services companies, including:

• AOS Orwell Ltd.
• Archer Ltd.
• Baker Hughes Co.
• Expro Holdings UK 2 Ltd.
• Halliburton Co.
• Pioneer Energy Services Corp.
• Schlumberger Ltd.
• Superior Energy Services Inc.
• Weatherford International Plc
• Wellservices BV

Slickline Services Market: Segmentation by Region

North America was the largest market for slickline services in 2019. The region is expected to record a fast growth rate during the forecast period. The increase in onshore and offshore oil and gas projects and rising investments and initiatives by governments are driving oil and gas E&P activities in the region. The growing E&P activities are driving the demand for slickline services, which is fueling the slickline services market share growth in North America.

Almost 48% of the overall market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for slickline services in the region. The market growth rate in this region will be faster than that of Europe, MEA, and South America during the forecast period.

Slickline Services Market: Segmentation by Application

Oil and gas E&P companies are significantly investing in onshore projects because of lower operating costs compared with offshore projects. The large-scale adoption of onshore drilling has increased the number of onshore aging wells. These wells require production enhancement activities such as wax removal and change in downhole plugs, which can be achieved with the use of slickline services. As a result, the slickline services market growth is expected to be substantial by the onshore market segment over the forecast period.

The slickline services market growth by the onshore segment is expected to be faster compared with the offshore market segment over the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the slickline services market size.

Slickline Services Market: Key Drivers and Trends

Oil and gas operators are carrying out various activities to enhance the production from mature fields, which is one of the key slickline services market growth drivers. To enhance the production, oil and gas bottom hole equipment and parts require repair, maintenance, and replacement during the life of the oil and gas wells. The workover of wells, which is a well intervention operation, is one of the production enhancement activities that is significantly used. In this method, slickline services are deployed to install and retrieve plugs, pressure regulators, and lift valves; lower instruments that record bottom hole temperature and pressure; and remove sand and paraffin from inside the wells. Therefore, the vendors of the slickline services market is expected to record significant market share growth over the forecast period.

• Vendors are offering digital slickline services that can perform more tasks compared with the conventional mechanical slicklines, which is one of the key slickline services market trends.
• Digital slicklines offer more control and monitoring capabilities of downhole operations compared to the conventional ones.
• The integral coating of digital slickline equipment enables two-way digital communication during deployment, which is done using a standard slickline unit and pressure control equipment.
• Sensors in digital cables measure well deviation, internal temperature, and cable tension and detect shock.
• The slickline services market size will grow at a CAGR of over 5% during 2020-2024. 

Slickline Services Market: Key Highlights of the Report for the Forecast Period 2020-2024

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will accelerate the growth of the slickline services market during the next five years
• Precise estimation of the global slickline services market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the slickline services industry in APAC, Europe, MEA, North America, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of slickline services vendors