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The technological advantages and long-term contract policy is the current trend of the wireline services market.
The leading companies of the wireline services market focus on new product/technology/service launch to enhance their business reach. Thus, the new product/technology/service launch activities seemed to be a trend that was followed by major industry players as their growth strategy.
The companies that lead the wireline services market currently are Schlumberger (U.S.), Halliburton (U.S.), Baker Hughes (U.S.), Weatherford (Switzerland), and Superior Energy Services (U.S.). However, this is a very dynamic market, where one innovation could give a company a competitive edge over the others.
Wireline services require highly skilled manpower and technologically advanced equipment. Safety is a major concern of wireline services as a minor error can lead to the damage of the complete reservoir and equipment set up. Keeping this in mind, the best way for companies to increase their geographic presence and market penetration is through the launch of new and advanced products and technologies. Additionally, the well-known and established brand name of the market has an edge in the wireline services market.
The major service providers are based in North America and focus on other regionsí countries for their market expansion. Hence, investment in these regions through setting up new bases provides the companies a competitive edge to access the local business.
Companies such as Schlumberger (U.S.), Halliburton (U.S.), Baker Hughes (U.S.), Weatherford (Switzerland), and Superior Energy Services (U.S.) have been the most active companies from 2011 to 2013. Most of these market players are present in the North American region and have been actively participating in competitive developments for the wireline services market.
The wireline services market is mainly governed by a few major players and the rest of the market share is divided between small companies. Top players in this market include Schlumberger (U.S.), Halliburton (U.S.), Baker Hughes (U.S.), Superior Energy Services (U.S.), and others.
Wireline Services Market by Type (Logging, Well Intervention, Completion), & Geography (Asia-Pacific, Europe, Middle East, Africa, North America, South America) - Global Trends & Forecast to 2019
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