Oil & Gas Downhole Cables - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Oil & Gas Downhole Cables Market is accounted for $1.24 billion in 2019 and is expected to reach $2.38 billion by 2027 growing at a CAGR of 8.5% during the forecast period. Increasing market of oil and gas downhole cables and promising countries of oil and gas downhole cables are the major factors propelling the market growth. However, factor such as drilling in extreme cold or scorching heat is hampering the market growth.
Oil and gas downhole cables are introduced into a well in order to deliver and get back data about circumstances of the wellbore. Oil and gas downhole cables supply power and carry data to and fro from a broad range of downhole instruments, sensors, and electrically powered equipment. These cables are necessary to withstand tremendous conditions such as high pressures and temperatures.
Based on the application, the oil & gas production segment is likely to have a huge demand for fiber optic cables are set to rise at a faster pace. The dissimilar types of sensors, including distributed strain sensors, distributed temperature sensors, distributed pressure sensors, and ocean bottom seismic make use of fiber optic cables. In addition, growing number of oil & gas companies is disposed toward leveraging the benefits of optic installation to develop their operational performance and accuracy.
By geography, North America is going to have a lucrative growth during the forecast period due to rise in discoveries of new oil and gas reserves in the region. Furthermore, growth in the production of unconventional resources, such as shale oil and gas and oil sands, is anticipated to positively impact the oil & gas downhole cables market in North America during the forecast period.
Some of the key players profiled in the Oil & Gas Downhole Cables Market include AFL, Belden Inc., ElandCables, GalaxyWire.com, LS Cable & System Ltd., Marmon Group, Nexans Group, NKT A/S, Prysmian Group, TEXCAN Division of Sonepar Canada Inc., W. L. Gore & Associates, Inc., ABB Ltd., Tratos, ZTT, and TELDOR.
• Fiber Optic Cables
• Tubing Encapsulated Cables (TECs)
• Other Types
• Instrumentation & Control
• Oil & Gas Production
• Power Downhole Equipment
• Data Collection
• Well Monitoring
• Pressure Sensing
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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