Logging While Drilling (LWD) Market Size (2024 - 2029)

The logging while drilling market is anticipated to experience growth driven by rising drilling and completion activities worldwide. Despite challenges posed by volatile oil prices due to various geopolitical and supply-demand factors, the market's expansion is supported by increasing oil and gas discoveries and industry liberalization. The onshore segment is projected to dominate the market share, with North America holding a significant portion of the market. Meanwhile, South America is expected to witness the highest growth rate, fueled by escalating oil and gas activities in the region.

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Market Size of Logging While Drilling (LWD) Industry

Logging While Drilling Market Size
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
CAGR 2.00 %
Fastest Growing Market South America
Largest Market North America

Major Players

Logging While Drilling Market Key players

*Disclaimer: Major Players sorted in no particular order

Logging While Drilling Market Analysis

The global logging while drilling (LWD) market is expected to grow at a CAGR of over 2% over the period of 2020-2025. The increasing drilling and completion activities, globally, is one of the major factors driving the demand for logging while drilling (LWD) over the study period. However, the volatile oil prices over the recent period, owing to the supply-demand gap, geopolitics and several other factors has been restraining the growth in the demand for logging while drilling (LWD).

  • The onshore segment is expected to have the maximum share in the market, in 2019. Onshore drilling encompasses all the drilling sites located on dry land and accounts for 70% of worldwide oil production.
  • North America is estimated to hold the maximum share in the logging while drilling (LWD) services market, in 2019. Additionally, the growth rate of the South America region is expected to be the highest during the forecast period, primarily due to the rapidly increasing oil and gas activities in the region, over the forecast period.
  • The increasing oil and gas discoveries coupled with the liberalization in the industry globally, has been leading to creation of new opportunities for the players to invest in. 

Logging While Drilling Industry Segmentation

The logging while drilling (LWD) market report include:

Location of Deployment
Onshore
Offshore
Geography
North America
Europe
Asia-Pacific
South America
Middle-East and Africa
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Logging While Drilling (LWD) Market Size Summary

The logging while drilling (LWD) market is poised for growth, driven by increasing global drilling and completion activities. The onshore segment is anticipated to dominate the market, given that onshore drilling accounts for a significant portion of worldwide oil production. North America is expected to hold a substantial share of the LWD services market, with the United States leading in oil and gas production. The region's growth is supported by the recovery of crude oil prices and the relative ease of initiating onshore projects compared to offshore ones. South America is projected to experience the highest growth rate during the forecast period, fueled by expanding oil and gas activities.

Despite challenges posed by volatile oil prices and geopolitical factors, the LWD market is benefiting from new investments in onshore oil and gas industries and the exploration of unconventional resources. The market is partially consolidated, with key players such as Schlumberger Limited, Halliburton Company, and Baker Hughes Company playing significant roles. The recovery of global crude oil prices and the liberalization of the industry are creating new opportunities for investment, further driving the demand for LWD services worldwide.

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Logging While Drilling (LWD) Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2025

    3. 1.3 Historic and Forecast of Upstream CAPEX in USD billion, by Onshore and Offshore, 2018-2025

    4. 1.4 Historic and Forecast of Offshore CAPEX in USD billion, by Water Depth, 2018-2025

    5. 1.5 Historic and Forecast of Offshore CAPEX in USD billion, by Region, 2018-2025

    6. 1.6 Major Upcoming Upstream Projects

    7. 1.7 Recent Trends and Developments

    8. 1.8 Government Policies and Regulations

    9. 1.9 Market Dynamics

      1. 1.9.1 Drivers

      2. 1.9.2 Restraints

    10. 1.10 Supply Chain Analysis

    11. 1.11 Porter's Five Forces Analysis

      1. 1.11.1 Bargaining Power of Suppliers

      2. 1.11.2 Bargaining Power of Consumers

      3. 1.11.3 Threat of New Entrants

      4. 1.11.4 Threat of Substitutes Products and Services

      5. 1.11.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Location of Deployment

      1. 2.1.1 Onshore

      2. 2.1.2 Offshore

    2. 2.2 Geography

      1. 2.2.1 North America

      2. 2.2.2 Europe

      3. 2.2.3 Asia-Pacific

      4. 2.2.4 South America

      5. 2.2.5 Middle-East and Africa

Logging While Drilling (LWD) Market Size FAQs

The Logging While Drilling (LWD) Market is projected to register a CAGR of greater than 2% during the forecast period (2024-2029)

Schlumberger Limited, Halliburton Company, China Oilfield Services Limited, Weatherford International Plc. and Baker Hughes Company are the major companies operating in the Logging While Drilling (LWD) Market.

Logging While Drilling Market Report Snapshots

Logging While Drilling Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)