Downhole cables are specifically designed to be used in the oil & gas industry. These cables are uniquely constructed to sustain in extremely harsh environmental conditions. They are used as sensor cables, instrumentation cables, power and data cables, control cables, and for a lot of other applications. In the oil & gas industry, they are extensively used for data transmission. Market Research Future (MRFR) has launched a report on the global downhole cables and has asserted that the market is likely to reach USD 1,100 Mn at a CAGR of 5.45% by the end of the forecast period of 2019-2024.
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Downhole cables offer various advantages such as the ability to withstand mechanical shock, chemical aggression, and vibration. The key players in the market are continuously engaged in product development, which has resulted in new product launches with better and improved characteristics.
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