The global Coiled Tubing Market generated USD 3,362 million in 2017 and is anticipated to grow at a CAGR of more than 6.1% during the forecast period according to a new study published by Polaris Market Research.
Coiled tubing is steel or composite tubing used for deployment of tools and materials through production tubing or casing while performing remedial work on producing wells. Coiled tubing offers a dynamic seal between the formation pressure and the surface, along with a continuous channel for fluid conveyance. Coiled tubing provides strength and rigidity, ability to circulate treatment fluids, and efficient workover operations. Coiled tubing does not require a workover rig, and can be used on high-pressure wells.
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The increasing demand for energy, and growing trend of horizontal drilling has increased the demand for coiled tubing. The rising demand for exploration & production activities, and growing development of unconventional oil blocks supports the growth of the Coiled Tubing Market. The growing industrialization, significant investments in research and development, and growing adoption of natural gas as a fuel are factors expected to further boost the market during the forecast period. Growing demand from emerging economies, and increasing government support are factors expected to provide numerous growth opportunities for Coiled Tubing Market during the forecast period.
The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Coiled Tubing Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, Asia-Pacific, Latin America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.
North America Coiled Tubing Market generated the highest revenue in 2017 owing to increasing trend of horizontal drilling, and growing demand for oil and gas in power production and transportation applications. Increasing energy demand from countries of this region, growing shale gas explorations, increasing demand for natural gas as fuel, and technological advancements are further expected to support market growth.
Competitive Landscape and Key Vendors
The global Coiled tubing market is characterized by the presence of well-diversified international and small and medium-sized vendors. These companies are consistently launching new products to enhance their offerings in the market. With the advancement of technologies, companies are innovating and introducing new customized products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.
The leading companies profiled in the Coiled Tubing Market report include Halliburton Co., Weatherford International Ltd., Baker Hughes, Trican Well Service Ltd, Cudd Energy Services, Schlumberger Ltd., Calfrac Well Services Ltd., C&J Energy Services, Inc., Nabors Industries Ltd., and Archer Limited.
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Key Segments
Location
- Onshore
- Offshore
Operation
- Pumping
- Circulation
- Logging
- Others
Application
- Well Cleaning and Completion
- Well Intervention
- Others
Region
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Rest of Europe
• Asia-Pacific
o China
o India
o Japan
o Rest of Asia-Pacific
• Latin America
o Brazil
o Rest of Latin America
• Middle East and Africa
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About Polaris Market Research
Polaris Market Research is a global market research and consulting company. We provide unmatched quality of offerings to our clients present globally. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities.
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