Global Coiled Tubing Market is expected to grow at a CAGR of about 6% during the forecast period, 2016 to 2022
Coiled tubing is a cost effective solution for various applications across drilling, completions, and workover operations for an oil well. The market for coiled tubing services had contracted significantly, on account of the prolonged oil price decline since mid-2014. Considerable supply excess had been a major factor resulting into the plummeting oil prices. However, the recent price stabilization as well as changing dynamics of oil producing countries has instigated a positive outlook for the upstream oil & gas services market. Coiled Tubing market is projected to grow at a moderate pace of 6% in the next six years, on account of continuing production activities as well as revival in drilling activities within the next couple of years.
North America held the largest share within the coiled tubing market in 201, and is expected to continue being a major market during the forecast period. European market is expected to grow at a comparatively slow pace, driven by steady demand from countries such as Russia, U.K., Norway, and the Netherlands. Middle East market is expected to grow a good pace during the forecast period.
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The key players in the Coiled Tubing are
- Halliburton Co,
- Baker Hughes Inc.,
- Weatherford International,
- Superior Energy Services Inc.,
- Nabors Industries,
- Archer Limited,
- C&J Energy Services,
- Trican Well Services Ltd,
- Calfrac Well Services Ltd
- RPC, Inc.
The Coiled Tubing market has been segmented on the basis of application into intervention, drilling cleaning & completion, and other applications. The coiled tubing market has also been categorized regionally with rest to the number of tubing in service.
Taste the market data and market information presented through more than 50 market data tables and figures spread in 110 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Global Coiled Tubing Market Research Report – Forecast to 2027”
Scope of the report
This study provides an overview of the global coiled tubing industry, tracking market segments across the categorized five geographic regions. The report provides a six-year forecast for the market size in terms of value for North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The scope of the study segments the global coiled tubing market based on services into cleaning, completion, drilling, and others..
Upstream oil & gas services market has considerably shrunk owing to the continual decline in oil prices since mid-2014. However, recent stabilization in the prices as well as reducing supply-demand gap is expected to revive the market in the next five years. Coiled tubing services are typically used during drilling, completion, and well intervention applications. The market for coiled tubing services is expected to grow at a moderate pace during the forecast period, on account of continuing production activities.
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