Downhole cables are extensively used in the oil & gas industry. The unique construction of downhole cables allows them to be used in a harsh environment. These cables are used for data transmission within the oil & gas industry. Downhole cables are used for various applications within the oil & gas industry including oil & gas production, oil well monitoring, powering downhole equipment, pressure sensing equipment, and data collection.
The global downhole cables market is estimated to progress at ~5.45% CAGR during the forecast period.
The key players operating in the global downhole cables market are Prysmian Group (Italy), Marmon Engineered Wire and Cable (US), SAMPSISTEMI (Italy), Nexans (Denmark), Schlumberger (US), NKT Cables (Denmark), Galaxy Wire & Cable (US), AFL (Australia), W. L. Gore & Associates, Inc. (US), Belden Inc. (US), Eland Cables (UK), ABB (Switzerland), and National Oil Varco (US).
On the basis of installation, the global market has been divided into onshore and offshore. The onshore segment is the largest segment in the market the increase in the investment of upstream exploration activities, especially in North America and Asia-Pacific. Additionally, onshore drilling activities have resumed after a phase of interruption, which would increase the installation of downhole cables that are needed in harsh environments.
On the basis of type, the global market is segmented into tubing encapsulated cable (TEC), fiber optic cable, electrical submersible pump cable (ESP), and others. Tubing encapsulated cable (TEC) is expected to dominate the global downhole cable market as these cables are especially designed to withstand the harsh environments typically associated with oil & gas industry. On the basis of application, the global market has been segmented into oil & gas production, data collection, well monitoring, powering downhole equipment, instrumentation & control, and pressure sensing. Oil & gas production is expected to dominate the global market as downhole cables are extensively used for locating the problems in the well.
On the basis of region, the global downhole cables market has been segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America.
North America holds the largest share in the downhole cables market due to increased upstream spending, which would boost the downhole cable demand in the countries such as the US, Canada, and Mexico.
Increasing unconventional drilling techniques offer opportunity for the downhole cables market. For instance, the US Department of Energy would invest USD 30 million to increase the unconventional oil & gas recovery. All these factors will boost the demand for downhole cable market in the region.
Table Of Contents
1 Executive Summary
2 Market Introduction
2.1 Market Definition
2.2 Scope Of The Study
2.3 Market Structure
3 Research Methodology
3.1 Primary Research
3.2 Secondary Research
3.3 Market Size Estimation
3.4 Forecast Model
3.5 List Of Assumptions
3.6 Limitations Of The Study
4 Market Insights
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