$3550
$2840
The Nigeria wireline service market size is projected to reach US$ 292.31 million by 2031 from US$ 189.11 million in 2023. The market is expected to register a CAGR of 5.6% during 2023–2031. The development of high-quality wireline products is likely to remain among the key trends in the market.
Nigeria Wireline Service Market Analysis
The Government of Nigeria has already issued three executive orders for the oil & gas industry that came into effect in February 2024. This includes Oil and Gas Companies (Tax Incentives, Exemption, Remission, etc.) Order, 2024; Presidential Directive on Local Content Compliance Requirements, 2024; and the Presidential Directive on Reduction of Petroleum Sector Contracting Costs and Timelines. This is further expected to make the petroleum sector in Nigeria one of the most competitive sectors worldwide. Further, according to the data released by the US Energy Information Association (EIA), crude oil sales across the country are likely to reach ~US$ 29 billion in 2024. This shows a rise in demand for domestic consumption and international exports, which further boosts the demand for wireline services across the country.
Nigeria is among the world’s largest oil producers; however, the revenue generation from this sector fails to eradicate poverty in the country due to increasing oil theft and corruption. As a result, various companies in the country are focusing on shifting their production process to offshore locations. For instance, in 2018, Royal Dutch Shell reduced onshore oil production and sold a few of its onshore assets to avoid theft, corruption, spills, and unrest that have adversely affected the country's onshore sector for decades.
Nigeria is significantly focusing on conducting oil production activities in offshore locations. In order to support this, the government and several oil and gas operators are making substantial investments in new technologies to generate better production results. In addition, the necessity of transferring drilling and production facilities to offshore locations, along with the consequent difficulties in setting up a plant capable of enduring specific environmental conditions, has resulted in the construction of state-of-the-art and innovative offshore research and engineering centers in the country. Thus, the Nigeria’s significant focus on oil production activities may offer promising opportunities for Nigeria wireline service market
Nigeria Wireline Service Market Overview
The growing oil & gas exploration and production and a rising number of drilling activities are major driving factors for the Nigeria wireline services market. In addition, an increase in initiatives toward well maintenance is anticipated to support the Nigeria wireline services market growth.
The Nigeria wireline services market ecosystem comprises of following stakeholders—raw material suppliers/distributors, hardware assemblies/wireline manufacturers, and end users. A few popular manufacturers are Baker Hughes Incorporated, Halliburton Company, Weatherford International PLC, and Pioneer Energy Services Corp., among others. The first process in the ecosystem of the Nigeria wireline service market is the production and manufacturing of iron and steel. The manufactured parts are then assembled by the oilfield service providers to form wireline systems, which are sent for testing. This stage is followed by the supply of wireline systems to the oilfield operator companies. In addition, almost all the wire-line equipment is manufactured by third parties. The end users of the wireline services are various oil fields, gas fields, and municipal organizations.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Nigeria Wireline Service Market: Strategic Insights
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Nigeria Wireline Service Market: Strategic Insights
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Nigeria Wireline Service Market Drivers and Opportunities
Rising Shift from Onshore to Offshore Rigs
In Nigeria, oil and gas operators who have their respective onshore rigs are focusing on shifting their respective operations from onshore to offshore platforms. A few companies such as Exxon Mobil, Shell, TotalEnergies, and Eni have announced to shift their operations from onshore oil locations in Nigeria due to the rising number of theft and sabotage cases in the onshore oil and gas production facilities. In February 2024, Nigerian National Petroleum Co Ltd (NNPC) shut down its Awoba field due to evacuation issues and crude oil theft incidents. Also, there is a growing number of offshore oil and gas production drilling operations at deepwater locations. A few companies have recently established their respective facilities in deepwater locations for oil and gas production. For instance, after facing security-related challenges, Nigerian National Petroleum Co Ltd (NNPC) restarted its operations in April 2024 from the offshore Madu field with an average of 8,000 barrels per day; it was expected to reach an average production of 12,000 barrels per day by the end of May 2024. Similarly, in February 2024, TotalEnergies, along with its partners, also announced the start of production of oil and gas in the Akpo West field on the PML2 license in Nigeria. Thus, the rising shift from onshore to offshore rigs drives the Nigeria wireline service market.
Rise in Divestment in Onshore Oil Fields and Oil Discovery in Offshore Fields
The Nigerian government is taking several initiatives to boost the participation of third parties in its oil & gas sector. As per the Nigerian Gas Master Plan, the government continues to attract investment in natural gas and other gas-based industries. The plan also includes a wide-ranging gas infrastructure development program that focuses on attracting new investments in the country’s gas processing, pipelines, and petrochemical facilities.
Nigeria Wireline Service Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Nigeria wireline service market analysis are type, hole type, service type and application.
- Based on type, the Nigeria wireline service market is bifurcated into slickline and electric line. The electric line segment held a larger market share in 2023.
- In terms of application, the wireline service market is bifurcated into onshore and offshore. The offshore segment dominated the market in 2023.
- Based on hole type, the Nigeria wireline service market is divided into open hole and cased hole. The case hole segment held a larger share of the market in 2023.
- By service type, the Nigeria wireline service market is divided into well completion, well intervention, and well logging. The well logging segment dominated the market in 2023.
Nigeria Wireline Service Market Share Analysis by Geography
The geographic scope of the Nigeria wireline service market report offers a detailed country analysis.
Nigeria is the largest oil and gas producer in Africa. Two types of crude oil are obtained from the Niger Delta basin: light, medium, and comparatively stable with ~36° API gravity, while the other more massive crudes have 20°–25° API gravity. They are paraffinic and show low sulfur content. Since 1936, Shell has been operating in Nigeria and currently dominates gas output in the country, and the Niger Delta also houses most of Shell's hydrocarbon reserves. Other natural resources in Nigeria, apart from petroleum, include natural gas, gold, iron ore, coal, calcareous, niobium, lead, zinc, and arable land.
Nigeria Wireline Service Market Report Scope
Nigeria Wireline Service Market News and Recent Developments
The Nigeria wireline service market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Nigeria wireline service market are listed below:
- NexTier Oilfield Services, Inc. sold its Well Support Services Basic Energy Services Inc. for US$93.7 million. With this deal, the company aims to create incremental annual savings of US$6 million in selling, general, and administrative expenses and eliminate about US$20 million of annual capital expenditures. Also, the company is focusing on its two business segments: the completions services segment—which consists of hydraulic fracturing, wireline, and pumpdown services—and the well construction and intervention services segment, consisting of coiled tubing and cementing services. (Source: NexTier Oilfield Services, Inc., Press Release, March 2020)
Nigeria Wireline Service Market Report Coverage and Deliverables
The “Nigeria Wireline Service Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Nigeria wireline service market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Nigeria wireline service market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST and SWOT analysis
- Nigeria wireline service market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the Nigeria wireline service market
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
GeopleX, Schlumberger NV, SGS SA, Superior Energy Services Inc, Energy Quest Oilfield Services, Samtex Oilfield Services Nigeria Limited, Greatwall Technology Nigeria Limited, Oildata Wilreline Services Ltd, Melvon Nigeria Limited, and B G Technical Limited are the key market players operating in the Nigeria wireline services market.
Government initiatives for commercialization of oil & gas sector in Nigeria is one of the major factors likely to generate new opportunities for market vendors in the coming years.
Rising shift from onshore to offshore rigs and growing demand for well intervention are some of the major factors driving the growth of the market.
The Nigeria wireline services market is likely to register a CAGR of 5.6% during 2023-2031.
Development of high-quality wireline products is one of the major trends in the market.
The List of Companies - Nigeria Wireline Service Market
- Americold Logistics Inc
- Lineage Logistics LLC
- United States Cold Storage Inc
- Interstate Warehousing Inc
- Newcold Cooperatief
- Kloosterboer
- Arcadia Cold Storage & Logistics
- CTW Logistics,
- Burris Logistics
- VersaCold Logistics Services
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Trends and growth analysis reports related to Nigeria Wireline Service Market
Jul 2024
Spent Nuclear Fuel Waste Management Market
Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Reactor Type (Pressurized Water Reactors (PWR), Boiling Water Reactors (BWR), and Gas-Cooled Reactors, and Others); Disposal Type (Near Surface Disposal and Deep Surface Disposal); and Geography
Jul 2024
Solar PV Inverter Market
Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Product Type (String, Micro, Central), Phase (Single Phase, Three Phase), Connectivity (Standalone, On-grid), Application (Residential, Community, Commercial and Industrial, Utility), Capacity (Below 5 kW, 5 - 15 kW, 15 - 25 kW, 25 - 50 kW, Above 50 kW); and Geography
Jul 2024
Offshore Oil and Gas Pipes Fittings and Flanges Market
Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Product Type (Pipes, Fitting, and Flanges), Material Type (Steel, Alloy Steel, Nickel Alloys, and Copper Alloys); and Geography
Jul 2024
Turboexpander Market
Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Loading Device (Compressor, Generator, and Hydraulic/Oil Brake), Power Capacity [Less than 1 MW (Up to 500 KW and 500 KW to 1 MW), 1 MW to 20 MW, and More than 20 MW], End User (Oil and Gas, Power Generation, and Industrial), and Geography
Jul 2024
Green Hydrogen Market
Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Technology (Alkaline Electrolysis and PEM Electrolysis), Renewable Source (Wind Energy, Solar Energy, and Others), and End-use Industry (Chemical, Power, Food & Beverages, Medical, Petrochemicals, and Others), and Geography
Jul 2024
Thermal Energy Storage Market
Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: Type (Sensible Heat Storage, Latent Heat Storage, Thermochemical Storage), Storage Material (Water, Molten Salt, PCM, Others), Application (District Heating and Cooling, Power Generation, Process Heating and Cooling), and End User (Utility, Nonutility) and Geography