Oil & Gas Downhole Cables Market, By Type (Tubing Encapsulated Cables (TECs), Fiber Optic Cables, an

Published Date: May 2020 | Report Code : EP2063084

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Oil & Gas Downhole Cables Market, By Type (Tubing Encapsulated Cables (TECs), Fiber Optic Cables, and Others (including Hybrid Cables and ESP Cables)), By Installation (Onshore and Offshore), By Application (Oil & Gas Production, Data Collection, Well Monitoring, Power Downhole Equipment, and Instrumentation & Control), By Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America) – Market Size & Forecasting To 2028

COVID-19 Impact : Our team has been closely monitoring the current developments to identify the potential impact of COVID-19 on stakeholders and business processes across the value chain of industries. A special section about COVID-19 will be covered with the report to help companies in defining sustainable strategies.

Domain : Energy

Report Code : EP2063084

Status : Published May 2020

Downhole cables are extensively used in the oil & gas industry as their unique construction of downhole cables allows them to be used in harsh environments. These cables are used mainly for data transmission. Oil and gas downhole cables supply power and carry data to and fro from a wide range of downhole instruments, sensors, and electrically powered equipment. Generally, these cables find applications in oil wells, pipelines, and underwater areas where they are used to drive centrifugal pumps. These cables are required to withstand extreme conditions such as high pressures and temperatures.

FIGURE 1 OIL & GAS DOWNHOLE CABLES MARKET DROC

FIGURE 1 OIL & GAS DOWNHOLE CABLES MARKET DROC, 2020 & 2028

The global oil & gas downhole cables market is driven majorly by factors such as increasing exploration & production of oil and gas and technical developments in drilling activities. The growth in production of oil and gas can be attributed to the improving global economic conditions. Also, growing focus on improving functional and physical properties of downhole cables and increasing deep-water and ultra-deep-water activities are also expected to fuel the growth of this market. However, factors such as volatility in prices of crude oil and changing economic scenarios in the industry are expected to hamper the growth of oil & gas downhole cables market during the forecast period. Furthermore, growing applications of sensors in oil & gas applications can offer significant growth opportunities in the near future.

The oil & gas downhole cables market size is estimated to be USD 1,369.8 million in 2020 and is projected to, register a CAGR of 7.2% to reach USD 2,393.0 billion by 2028.

FIGURE 2 OIL & GAS DOWNHOLE CABLES MARKET BY TYPE

FIGURE 2 OIL & GAS DOWNHOLE CABLES MARKET: BY TYPE, 2020 & 2028

Based on type, oil & gas downhole cables market segmented into tubing encapsulated cable (TEC), fiber optic cable, and others. The others segment includes hybrid cables ad ESP cables. The tubing encapsulated cable (TEC) segment is expected to be the largest market, by type holding a market share of around 42.1% in 2020. This segment is also projected to be the dominante one during the forecast period as these cables are especially designed to withstand the harsh environments associated with the oil & gas industry. Furthermore, these cables can be utilized for data transmission including downhole gauge applications.

FIGURE 3 OIL & GAS DOWNHOLE CABLES MARKET BY INSTALLATION

FIGURE 3 OIL & GAS DOWNHOLE CABLES MARKET: BY INSTALLATION, 2020 & 2028

Based on installation, oil & gas downhole cables Market segmented into onshore and offshore. The onshore segment is expected to account for the largest share of ~75.9% in the global oil & gas downhole cables market in 2020. This market is projected to be valued at USD XX million in 2020 and is poised to grow at a CAGR of 6.0% during the forecast period to reach USD XX million by 2028. The large share of this segment can mainly be attributed to the increase in the investment of upstream exploration activities especially in North America and Asia-Pacific.

FIGURE 4 OIL & GAS DOWNHOLE CABLES MARKET BY APPLICATION

FIGURE 4 OIL & GAS DOWNHOLE CABLES MARKET: BY APPLICATION, 2020 & 2028

Based on application, oil & gas downhole cables market segmented into oil & gas production, data collection, well monitoring, powering downhole equipment, and instrumentation & control. Oil and gas production segment is expcted to account for the largest share of ~32.3% in the global oil & gas downhole cables market in 2020. This market is estimated to be valued at USD XX million in 2020 and is poised to grow at a CAGR of 8.7% during the forecast period to reach USD XX million by 2028. Oil & gas production is expected to dominate the global downhole cables market during the forecast period as downhole cables are extensively used for locating problems in the well.

FIGURE 5 OIL & GAS DOWNHOLE CABLES MARKET BY REGION

FIGURE 5 OIL & GAS DOWNHOLE CABLES MARKET: BY REGION, 2017-2028

On the basis of the region, oil & gas downhole cables market has been segmented by North America, Europe, Asia Pacific, Middle East and Africa, and South America.

North America is the largest regional segment accounting for over 28.7% of the global market. This regional segment is projected to account for a significant market share during the forecast period due to the increasing per capita energy consumption and exploration and production (E&P) of oil and gas in the region. This market is expected to be valued at USD XX million in 2020 and is poised to grow at a CAGR of 4.0% during the forecast period to reach USD XX million by 2028. The market of Asia-Pacific is expected to be the second largest owing to increasing drilling activities due to improving crude oil prices. Additionally, the oil & gas industry in Asia-Pacific is likely to showcase positive trends owing to the rising demand, increasing commodity prices, and ongoing mergers and acquisitions in the region. Moreover, the increased drilling activities in the region by national oil companies is also boosting rig utilization rates, which will boost the demand for downhole cables that are important components of rigs. 

MARKET SEGMENTATION

This research report categorizes the market for oil and gas downhole cables based on various segments and region and forecasts revenue growth and analysis of trends in each of the submarkets. The report analyses the key growth drivers, opportunities and challenges which influence the oil & gas downhole cables market. Recent market developments and competitive strategies such as expansion, product launch and development, partnership, merger and acquisition have been included in order to draw the competitive landscape in the Oil & Gas Downhole Cables Market. The report strategically identifies and profiles the key market players and analyses their core competencies in each type and application of the Oil & Gas Downhole Cables Market.

FIGURE 6 OIL & GAS DOWNHOLE CABLES MARKET  MARKET SCOPE

FIGURE 5 OIL & GAS DOWNHOLE CABLES MARKET – MARKET SCOPE

Key Developments:

  • In May 2020, LS Cable & System was awarded a KRW 66 billion contract for Wisconsin-based, American Transmission Co.’s Straits Cable Replacement Project. LS Cable & System will manufacture, transport and oversee the installation of two new cables for the project.
  • In March 2020, ABB Ltd established a new distribution center to provide its products to the customers on the western part of the U.S.

Major Companies: Prysmian Group, ElandCables, Nexans Group, NKT A/S, ABB Ltd., Marmon Group, GalaxyWire.com, Texcan Division Of Sonepar Canada Inc, LS Cable & System Ltd, Belden Inc, WL Gore & Associates Inc, Ztt International Limited, TRATOS, AFL, Sampsistemi

Market Segmentation: 

By Type:

  • Tubing Encapsulated Cables (TECs)
  • Fiber Optic Cables
  • Others
    • Including Hybrid Cables
    • ESP Cables

By Installation:

  • Onshore
  • Offshore

By Application:

  • Oil & Gas Production
  • Data Collection
  • Well Monitoring
  • Power Downhole Equipment
  • Instrumentation & Control 

By Region:

  • North America Oil & Gas Downhole Cables Market
    • By Country (US, Canada, Mexico)
    • By Type
    • By Installation
    • By Applications
  • Europe Oil & Gas Downhole Cables Market
    • By Country (Germany, Russia, UK, France, Italy, Spain, Rest of Europe)
    • By Type
    • By Installation
    • By Applications
  • Asia Pacific Oil & Gas Downhole Cables Market
    • By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
    • By Type
    • By Installation
    • By Applications
  • Middle East & Africa Oil & Gas Downhole Cables Market
    • By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East & Africa)
    • By Type
    • By Installation
    • By Applications
  • South America Oil & Gas Downhole Cables Market
    • By Country (Brazil, Argentina, Colombia, Rest of South America)
    • By Type
    • By Installation
    • By Applications

Reasons to Buy This Report:

  • Provides niche insights for decision about every possible segment helping in strategic decision making process.
  • Market size estimation of the oil & gas downhole cables market on a regional and global basis.
  • A unique research design for market size estimation and forecast.
  • Identification of major companies operating in the market with related developments
  • Exhaustive scope to cover all the possible segments helping every stakeholder in the oil & gas downhole cables market.

Customization:

This study is customized to meet your specific requirements:

  • By Segment
  • By Sub-segment
  • By Region/Country
  • Product Specific Competitive Analysis

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