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Coiled Tubing Market

Coiled Tubing Market Size, Share & Trends Analysis Report

Coiled Tubing Market Size, Share & Trends Analysis By Operation: (Circulation/Deliquification, Pumping, Logging, Perforation, Others), By Application (Onshore, Offshore), Based on Region, And Segment Forecasts, 2022 – 2029

Published
Report ID : BMRC 1003
Number of pages : 200
Published Date : Jun 2023
Category : Heavy Industry
Delivery Timeline : 48 hrs
Coiled Tubing Market is valued at USD 3.27 billion in 2022 and expected to reach USD 4.74 billion by 2029 with the CAGR of 5.43% over the forecast period.

Scope of Coiled Tubing Market

A coiled tubing (CT) is a long metal pipe which used during oil recovery. Coiled tubes are made from very low-alloy carbon-steel. Coiled tubing is used in a great number of well-intervention applications. In the oil and gas industries, it is used for interventions in oil and gas wells and sometimes as production tubing in depleted gas wells. Coil tubing can perform almost any operation for oiler operations if used correctly. The coiled tubing is injected into the prevailing production string, unwound from the reel and inserted into the well. Coiled tubing is chosen over conventional straight tubing because conventional tubing has got to be screwed together. The usage of coiled tubing has many advantages like well pressure, small trip times and less labor requirement than traditional method.

Coiled tubing market report is segmented on the basis of service, operation, application and by regional & country level. Based upon service, coiled tubing market is classified into well intervention, drilling and others. Based upon well intervention, coiled tubing market is subdivided into well completion, well cleaning and others. Based upon operation, coiled tubing market is classified into circulation/deliquification, pumping, logging, perforation and others. Based upon application, coiled tubing market is classified into onshore and offshore.

The regions covered in this coiled tubing market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of image-based cytometer is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.

By Service

  • Well Intervention

    • Well Completion

    • Well Cleaning

    • Others

  • Drilling
  • Others

By Operation

  • Circulation/Deliquification
  • Pumping
  • Logging
  • Perforation
  • Others

By Application

  • Onshore
  • Offshore

Coiled Tubing Manufacturers:

Coiled tubing Market report covers prominent players are

  • Schlumberger Ltd
  • Halliburton
  • Baker Hughes Inc
  • Archer
  • C&J Energy Services Inc
  • Calfrac Well Services Ltd
  • Key Energy Services Inc.
  • Nabors Industries Ltd (Bermuda)
  • RPC Inc.
  • Sanjel Corporation
  • Superior Energy Services Inc
  • Trican Well Service Ltd
  • Weatherford International Ltd.
  • Others.

Market Dynamics

Rising oil and gas production around the world with increasing penetration of Coiled Tubing (CT) in well intervention services is key factors driving the coiled tubing market. According to Organization for Economic Co-operation and Development (OECD), from 2017, oil demand will reach 104.7 mb/d, up 6.9 mb/d by 2023. Moreover, the need to increase oil and gas production from existing wells is expected to play a key role in coiled tubing market growth. However, stringent government rule and regulation and high cost maintenance will hamper the growth of coiled tubing market. Moreover, due to technological advancements in oil and gas industries for cost-effective services will enhance opportunity in the coiled tubing market during forecast period.

Market Regional Analysis

North America is expected to dominate with the largest market for coiled tubing due to awareness regarding benefits of coiled tubing technology. Specially, U.S. and Canada are the topmost consumers among others in coiled tubing unit in the world. Additionally, presence of expertise, advanced equipment and technologies and increased exploration and production activities are the major factors supporting the regional coiled tubing market growth.

The Europe market has steady growth in coiled tubing over the forecast period. In this region, coiled tubing demand increases due to rising innovation of oilfields. The regional oilfield service companies are focusing towards cost effective solutions such as coiled tubing to gain a competitive advantage over other industry participants and to maximize their revenues.

In the future, Middle East and Africa market for coiled tubing is expected to observe lucrative growth.  These regions become more dominant in terms of conventional onshore oil production. Moreover, increasing investment technologies such as coiled tubing unit manufacturing will enhance the growth of market region during forecast period. 

Report Analysis Details
Historical data 2018 - 2021
Forecast Period 2022 - 2029
Market Size in 2022: USD 3.27 Billion
Base year considered 2021
Forecast Period CAGR %: 5.43%
Market Size Expected in 2029: USD 4.74 Billion
Tables, Charts & Figures: 175
Pages 300
Key Players/Companies Schlumberger Ltd, Halliburton, Baker Hughes Inc, Archer, C&J Energy Services Inc, Calfrac Well Services Ltd, Key Energy Services Inc., Nabors Industries Ltd (Bermuda), RPC Inc., Sanjel Corporation, Superior Energy Services Inc, Trican Well Service Ltd, Weatherford International Ltd., Others.
Segments Covered By Service, By Operation, By Application
Regional Analysis North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, Africa, Rest of the Middle East and Africa
SUMMARY
VishalSawant
Vishal Sawant
Business Development
vishal@brandessenceresearch.com
+91 8830 254 358
Segmentation
Segments

By Service

  • Well Intervention

    • Well Completion

    • Well Cleaning

    • Others

  • Drilling
  • Others

By Operation

  • Circulation/Deliquification
  • Pumping
  • Logging
  • Perforation
  • Others

By Application

  • Onshore
  • Offshore
Country
Regions and Country

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Sweden
  • Netherlands
  • Turkey
  • Switzerland
  • Belgium
  • Rest of Europe

Asia-Pacific

  • South Korea
  • Japan
  • China
  • India
  • Australia
  • Philippines
  • Singapore
  • Malaysia
  • Thailand
  • Indonesia
  • Rest of APAC

Latin America

  • Mexico
  • Colombia
  • Brazil
  • Argentina
  • Peru
  • Rest of South America

Middle East and Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of MEA
Company
Key Players
  • Schlumberger Ltd
  • Halliburton
  • Baker Hughes Inc
  • Archer
  • C&J Energy Services Inc
  • Calfrac Well Services Ltd
  • Key Energy Services Inc.
  • Nabors Industries Ltd (Bermuda)
  • RPC Inc.
  • Sanjel Corporation
  • Superior Energy Services Inc
  • Trican Well Service Ltd
  • Weatherford International Ltd.
  • Others.

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