Report Description


Forecast Period

2025-2029

Market Size (2023)

USD 5.28 billion

CAGR (2024-2029)

3.2%

Fastest Growing Segment

E-Line

Largest Market

North America





Market Overview

Global Open Hole Logging Services Market was valued at USD 5.28 billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 3.2% through 2029. The global upstream oil and gas investments stood at approximately USD 476 billion in 2019, representing a 6% increase compared to that in the previous year. According to the estimates of Oil & Gas UK, the oil and gas exploration and production companies in Europe are expected to spend about USD 265 billion between 2019 – 2035. Factors, such as increasing demand for oil and natural gas and increasing investments in the upstream oil and gas sectors across the world, are expected to drive the number of exploration and production activities, thereby driving the Open Hole Logging Services market during the forecast period. However, the crude oil prices have been highly volatile in 2018, fluctuating between USD 85 per barrel and USD 50 per barrel by the end of the year.

 

Key Market Drivers

Well Intervention and Completion Activities

The global Open Hole Logging Services market is set to be strongly influenced by the increasing d