Global Logging While Drilling Market is valued at US $10.74 Billion in 2022 is anticipated to reach a value of US $15.05 Billion in 2030, growing at a CAGR of 4.3%.
A well logging technique known as logging while drilling (LWD) evaluates formation characteristics such as the type of rock drilled, water saturation, and formation porosity as drilling proceeds.
To do this, the logging while drilling tool is typically incorporated with the bottomhole assembly, which is situated close above the drilling bit, so that the formation characteristics may be nearly instantly received when the bit drills a hole through it.
Contrary to popular belief, measuring while drilling (MWD) and logging while drilling (LWD) are not the same things. While drilling, information collected from a logging tool aids in identifying the drilled formation, while information obtained from a measurement tool aids in navigating and regulating the well route (useful in directional drilling).
Drillers (whether drilling for oil or water) have been meticulously recording their operations for millennia. Mud logging, which originally consisted of a routine log of drilling depth vs cuttings seen, has evolved to include a variety of technology well logging metrics, including electric logging, SP, induction, and GR. Logging-While-Drilling (LWD), a type of well logging that incorporates the logging equipment into the drill string and administers, interprets, and transmits real-time formation measurements to the surface, was recently developed by scientists and engineers.
By overcoming the difficulties posed by directional drilling for well logging, LWD has completely altered this idea. LWD allows drillers to log wells that are more than 60 degrees inward, which makes driving the tool through the well impossible. This is done by positioning the well logging tools close to the drill bit on the end of the drilling gear. Additionally, LWD supports drillers and engineers in making quick decisions regarding the future of a well and the direction of drilling by giving real-time information.
While drilling is taking place, LWD transmits logging measurements at regular intervals, transmitting data on porosity, resistivity, acoustic waveform, hole orientation, and weight on bit. Pulses via the mud column,
sometimes referred to as mud pulse of mud telemetry, are used to convey data in real time to the surface.
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Key Trends of Global Logging While Drilling Market:
Increase in energy demand
With the United Nations predicting world population growth from 6.7 billion in 2011 to 8.7 billion by 2035, demand for energy must increase considerably over that period. Both population growth and increasing standards of living for many people in developing countries will cause strong growth in energy demand. Over 70% of the increased energy demand is from developing countries, led by China and India. United Nations Organizations (UNO) projections indicate an ongoing trend of urbanization, from 52% in 2011 to 62% in 2035 and reaching 70% worldwide by 2050.
Segmental Analysis of Global Logging While Drilling Market:
Based on Application
- On-shore Application
- Off-shore Application
Onshore segment is expected to dominate the Logging While Drilling market during the forecast period
Based on Service
- Rotary Steerable Systems (RSS)
- Logging While Drilling
- Measurement While Drilling and Survey
- Motor (MUD Motors)
- Others
The rotary steerable system segment is expected to grow at the highest CAGR during the forecast period.
Based on Type
- Conventional
- Rotary Steerable Systems
Competitive Landscape:
Baker Hughes Incorporated, National Oilwell Varco, Weatherford International Plc., Schlumberger Ltd., and Halliburton Company, Nabors Industries Ltd., Cathedral Energy Services Ltd., Jindal Drilling Industries Limited, and Gyrodata Incorporated among others.
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