Coiled Tubing Market was worth US$ 3.33 Bn. in 2022 and total revenue is expected to grow at a rate of 5.9% CAGR from 2022 to 2029, reaching almost US$ 4.97 Bn. in 2029.Coiled Tubing Market Overview:
The market for Coiled Tubing was worth US $ 3.33 Bn. in 2022. The oil and gas industries primarily use coiled tubes. These tubes are used for activities that take place upstream. They are long coiled tubular products that are used for suitable oil and gas operations as well as fiber optic lines operations. The oil and gas industry prefers these tubes because of their cheap maintenance, well-contained pressure, and quick trip times. Coiled tubes are used for de liquefaction, circulation, pumping of sand screens or cement perforations, logging, perforations, productions, and coiled tubing drilling, among other things. It is a less expensive alternative to work operations.To know about the Research Methodology :- Request Free Sample Report
Coiled Tubing Market Dynamics:
NOCs and integrated oil firms have begun to invest heavily in global upstream and operational activities. Also, as the demand for oil and gas grows, the upstream segment of the oil and gas industry is increasing its operational activities and growing production. All of these reasons are driving the coiled tubing industry forward. Coiled tubing is a relatively thin-walled piece of equipment with a modest appearance. Because the tube is constantly bent and straightened, often at high internal pressure, a minor fault might form, whether caused by corrosion or mechanically, resulting in a high risk of operational damage. According to surveys, corrosion, mechanical damage, human mistake, and string manufacturing issues caused 80–90 % of coiled tubing string failures in the last two decades. High-pressure losses while pumping fluids, coiled tubing corrosion, coiled tubing rotation inability, and logistical challenges with both road transport and offshore crane lifting are some of the challenges faced by coiled tubing service providers during offshore well, intervention and drilling activities. Advances in exploration technology, as well as decreasing oil reserves in shallow water and the commercial viability of exploratory projects are the main motivators for exploration and production companies to look for new oilfields, particularly offshore. As a result, new opportunities for coiled tubing have emerged.Coiled Tubing Market Segment Analysis:
Based on Service, the market is segmented into Well Intervention, Well Completion, Well Cleaning and Drilling. With a revenue share of 66.5 % in 2022, the well-intervention service segment dominated the coiled tubing market. The global oil and gas industry is currently focused on sustaining and/or boosting production from existing oil reserves, according to OWI 2022, the leading well-intervention conference. As a result, coiled tubing devices are being used more frequently for well intervention. Because of the tremendous benefits offered by the product, CT drilling is expected to grow at a CAGR of 4.6 % during the forecast period. Better under-balanced drilling, faster operations, more safety, and decreased environmental effect are all possible with CT. It can also be used in conjunction with directional drilling to permit oil production from wells that aren't vertical.Based on Operation, the market is segmented into Circulation/Deliquification, Pumping, Logging, Perforation, and Others. One of the most important functions of coiled tubing is circulation. In 2022, the segment had a revenue share of 17.5 %. A column of fluid in an oil or gas well prevents formation fluids from flowing into the wellbore. A good kill is a term for this situation. It is critical to circulate the fluid in this situation. CT is used to force out the kill fluid and improve oil and gas production by pumping nitrogen gas into the bottom of the wellbore. From 2022 to 2029, the pumping operation segment is expected to grow at a strong CAGR of 5.6 %. Pumping with coiled tubing is a common practice that involves putting fluid into the well. The use of the solution for cementing perforations in pumping operations has the considerable advantage of preventing potential damage to important components such as the down-hole safety valve. Based on Application, the market is segmented into Onshore and Offshore. In terms of demand, onshore was the most popular application segment in 2022. In 2022, the application contributed to a large market share of 61.5%. The dominant position of traditional onshore oil production when compared to offshore be the fundamental reason for the high demand for onshore coiled tubing units.
Coiled Tubing Market Regional Insights:
With a revenue share of 46.2 % in 2022, North America dominated the coiled tubing market in 2022. The United States and Canada are two of the world's largest users of coiled tubing technology. The rapid explosion in tight oil production in the United States, combined with the availability of trained labor, cutting-edge equipment and technology, and expanded Exploration and Production (E&P) activities are key drivers of regional growth. Over the forecast period, the European market is expected to increase steadily. In 2022, Russia had the biggest regional market share. Because of the increasing finding of oilfields in the North Sea, the European oilfield service market is likely to increase significantly in the future years. To obtain a competitive advantage over other sector participants and optimize their earnings, regional oilfield service companies are changing their focus to cost-effective solutions such as coiled tubing. The market for coiled tubing in the Middle East and Africa is expected to grow rapidly as the region becomes more dominant in terms of conventional onshore oil production. Due to consistent investments by the National Oil Companies, the future outlook for oil production in the Middle East remains positive (NOCs). For example, Abu Dhabi National Oil Company expects to invest heavily in the region over the next five years in order to enhance its oil output capacity, with the goal of offering an additional 1 million barrels of oil per day by 2022. The objective of the report is to present a comprehensive analysis of the global Coiled TubingMarket to the stakeholders in the Equipment. The past and current status of the analysis of complicated data in simple language. The report covers all the aspects of the Equipment with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has Been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the Equipment to the decision-makers. The report also helps in understanding the global Coiled Tubing Market dynamics, structure by analyzing the market segments and projects the global Coiled Tubing Market size. Clear representation of competitive analysis of key players by Service, price, and financial position, Service portfolio, growth strategies, and Regional presence in the global Coiled Tubing Market make the report investor’s guide.Coiled Tubing Market Scope: Inquire before buying
Global Coiled Tubing Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2018 to 2022 Market Size in 2022: US $ 3.33 Bn. Forecast Period 2023 to 2029 CAGR: 5.9% Market Size in 2029: US $ 4.97 Bn. Segments Covered: by Service Well Intervention Well Completion Well Cleaning Drilling by Operation Circulation Pumping Logging Perforation Others by Application Offshore Onshore Coiled Tubing Market, by Region
North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)Tubing Market Company key players are:
1. Schlumberger Ltd 2. Halliburton Co. 3. Baker Hughes Inc. 4. Archer Limited 5. C&J Energy Services Inc. 6. Calfrac Well Services Ltd 7. Key Energy Services Inc. 8. Nabors Industries Ltd 9. RPC Inc. 10. Sanjel Corporation 11. Superior Energy Services Inc. 12. Trican Well Service Ltd 13. Weatherford International Ltd 14. Smape S.r.l 15. Jereh GroupFrequently Asked Questions:
1) What was the market size of Global Coiled Tubing Market markets in 2022? Ans - Global Coiled Tubing Market was worth US$ 3.33 Bn in 2022. 2) What is the market segment of Global Coiled Tubing Market markets? Ans -The market segments are based on Service, Operation and Application. 3) What is forecast period consider for Global Coiled Tubing Market? Ans -The forecast period for Global Coiled Tubing Market is 2023 to 2029. 4) Which are the worldwide major key players covered for Global Coiled Tubing Market report? Ans - Schlum berger Ltd, Halliburton Co., Baker Hughes Inc., Archer Limited, C&J Energy Services Inc., Calfrac Well Services Ltd, Key Energy Services Inc., Nabors Industries Ltd, RPC Inc., Sanjel Corporation, Superior Energy Services Inc., Trican Well Service Ltd, Weather ford International Ltd, Nabors Industries, Ltd., Smape S.r.l, Jereh Group. 5) Which region is dominated in Global Coiled Tubing Market? Ans -In 2022, North America region dominated the Global Coiled Tubing Market
1. Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Global Coiled Tubing Market Size, by Market Value (US$ Bn) 3.1. Global Market Segmentation 3.2. Global Market Segmentation Share Analysis, 2022 3.2.1. Global 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the Coiled TubingMarket 3.4. Geographical Snapshot of the Coiled TubingMarket , By Manufacturer share 4. Global Coiled TubingMarket Overview, 2022-2029 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. Global 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. Global 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. Global 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. Global 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Equipment Trends and Emerging Technologies 4.1.6. Porters Five Forces Analysis 4.1.6.1. Threat of New Entrants 4.1.6.2. Bargaining Service of Buyers/Consumers 4.1.6.3. Bargaining Service of Suppliers 4.1.6.4. Threat of Substitute Service 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the Global Coiled TubingMarket 5. Supply Side and Demand Side Indicators 6. Global Coiled Tubing Market Analysis and Forecast, 2022-2029 6.1. Global Coiled Tubing Market Size & Y-o-Y Growth Analysis. 7. Global Coiled Tubing Market Analysis and Forecasts, 2022-2029 7.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 7.1.1. Well Intervention 7.1.2. Well Completion 7.1.3. Well Cleaning 7.1.4. Drilling 7.2. Market Size (Value) Estimates & Forecast By Operation, 2022-2029 7.2.1. Circulation/Deliquification 7.2.2. Pumping 7.2.3. Logging 7.2.4. Perforation 7.2.5. Others 7.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 7.3.1. Onshore 7.3.2. Offshore 8. Global Coiled TubingMarket Analysis and Forecasts, By Region 8.1. Market Size (Value) Estimates & Forecast By Region, 2022-2029 8.1.1. North America 8.1.2. Europe 8.1.3. Asia-Pacific 8.1.4. Middle East & Africa 8.1.5. South America 9. North America Coiled Tubing Market Analysis and Forecasts, 2022-2029 9.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 9.1.1. Well Intervention 9.1.2. Well Completion 9.1.3. Well Cleaning 9.1.4. Drilling 9.2. Market Size (Value) Estimates & Forecast By Operation, 2022-2029 9.2.1. Circulation/Deliquification 9.2.2. Pumping 9.2.3. Logging 9.2.4. Perforation 9.2.5. Others 9.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 9.3.1. Onshore 9.3.2. Offshore 10. North America Coiled TubingMarket Analysis and Forecasts, By Country 10.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 10.1.1. US 10.1.2. Canada 10.1.3. Mexico 11. U.S. Coiled TubingMarket Analysis and Forecasts, 2022-2029 11.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 11.2. Market Size (Value) Estimates & Forecast By Operation, 2022-2029 11.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 12. Canada Coiled TubingMarket Analysis and Forecasts, 2022-2029 12.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 12.2. Market Size (Value) Estimates & Forecast By Operation, 2022-2029 12.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 13. Mexico Coiled TubingMarket Analysis and Forecasts, 2022-2029 13.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 13.2. Market Size (Value) Estimates & Forecast By Operation, 2022-2029 13.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 14. Europe Coiled Tubing Market Analysis and Forecasts, 2022-2029 14.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 14.2. Market Size (Value) Estimates & Forecast By Operation, 2022-2029 14.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 15. Europe Coiled Tubing Market Analysis and Forecasts, By Country 15.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 15.1.1. U.K 15.1.2. France 15.1.3. Germany 15.1.4. Italy 15.1.5. Spain 15.1.6. Sweden 15.1.7. CIS Countries 15.1.8. Rest of Europe 16. U.K. Coiled TubingMarket Analysis and Forecasts, 2022-2029 16.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 16.2. Market Size (Value) Estimates & Forecast By Operation, 2022-2029 16.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 17. France Coiled TubingMarket Analysis and Forecasts, 2022-2029 17.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 17.2. Market Size (Value) Estimates & Forecast By Operation, 2022-2029 17.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 18. Germany Coiled TubingMarket Analysis and Forecasts, 2022-2029 18.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 18.2. Market Size (Value) Estimates & Forecast By Operation, 2022-2029 18.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 19. Italy Coiled Tubing Market Analysis and Forecasts, 2022-2029 19.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 19.2. Market Size (Value) Estimates & Forecast By Operation, 2022-2029 19.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 20. Spain Coiled Tubing Market Analysis and Forecasts, 2022-2029 20.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 20.2. Market Size (Value) Estimates & Forecast By Operation, 2022-2029 20.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 21. Sweden Coiled Tubing Market Analysis and Forecasts, 2022-2029 21.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 21.2. Market Size (Value) Estimates & Forecast By Operation, 2022-2029 21.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 22. CIS Countries Coiled Tubing Market Analysis and Forecasts, 2022-2029 22.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 22.2. Market Size (Value) Estimates & Forecast By Operation, 2022-2029 22.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 23. Rest of Europe Coiled TubingMarket Analysis and Forecasts, 2022-2029 23.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 23.2. Market Size (Value) Estimates & Forecast By Operation, 2022-2029 23.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 24. Asia Pacific Coiled TubingMarket Analysis and Forecasts, 2022-2029 24.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 24.2. Market Size (Value) Estimates & Forecast By Operation, 2022-2029 24.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 25. Asia Pacific Coiled Tubing Market Analysis and Forecasts, by Country 25.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 25.1.1. China 25.1.2. India 25.1.3. Japan 25.1.4. South Korea 25.1.5. Australia 25.1.6. ASEAN 25.1.7. Rest of Asia Pacific 26. China Coiled TubingMarket Analysis and Forecasts, 2022-2029 26.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 26.2. Market Size (Value) Estimates & Forecast By Operation, 2022-2029 26.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 27. India Coiled Tubing Market Analysis and Forecasts, 2022-2029 27.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 27.2. Market Size (Value) Estimates & Forecast By Operation, 2022-2029 27.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 28. Japan Coiled Tubing Market Analysis and Forecasts, 2022-2029 28.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 28.2. Market Size (Value) Estimates & Forecast By Operation, 2022-2029 28.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 29. South Korea Coiled Tubing Market Analysis and Forecasts, 2022-2029 29.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 29.2. Market Size (Value) Estimates & Forecast By Operation, 2022-2029 29.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 30. Australia Coiled Tubing Market Analysis and Forecasts, 2022-2029 30.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 30.2. Market Size (Value) Estimates & Forecast By Operation, 2022-2029 30.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 31. ASEAN Coiled Tubing Market Analysis and Forecasts, 2022-2029 31.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 31.2. Market Size (Value) Estimates & Forecast By Operation, 2022-2029 31.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 32. Rest of Asia Pacific Coiled Tubing Market Analysis and Forecasts, 2022-2029 32.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 32.2. Market Size (Value) Estimates & Forecast By Operation, 2022-2029 32.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 33. Middle East Africa Coiled Tubing Market Analysis and Forecasts, 2022-2029 33.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 33.2. Market Size (Value) Estimates & Forecast By Operation, 2022-2029 33.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 34. Middle East Africa Coiled TubingMarket Analysis and Forecasts, by Country 34.1. Market Size (Value) Estimates & Forecast by Country, 2022-2029 34.1.1. South Africa 34.1.2. GCC Countries 34.1.3. Egypt 34.1.4. Nigeria 34.1.5. Rest of ME&A 35. South Africa Coiled Tubing Market Analysis and Forecasts, 2022-2029 35.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 35.2. Market Size (Value) Estimates & Forecast By Operation, 2022-2029 35.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 36. GCC Countries Coiled Tubing Market Analysis and Forecasts, 2022-2029 36.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 36.2. Market Size (Value) Estimates & Forecast By Operation, 2022-2029 36.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 37. Egypt Coiled Tubing Market Analysis and Forecasts, 2022-2029 37.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 37.2. Market Size (Value) Estimates & Forecast By Operation, 2022-2029 37.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 38. Nigeria Coiled Tubing Market Analysis and Forecasts, 2022-2029 38.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 38.2. Market Size (Value) Estimates & Forecast By Operation, 2022-2029 38.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 39. Rest of ME&A Coiled Tubing Market Analysis and Forecasts, 2022-2029 39.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 39.2. Market Size (Value) Estimates & Forecast By Operation, 2022-2029 39.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 39.4. 40. South America Coiled Tubing Market Analysis and Forecasts, 2022-2029 40.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 40.2. Market Size (Value) Estimates & Forecast By Operation, 2022-2029 40.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 41. South America Coiled Tubing Market Analysis and Forecasts, by Country 41.1. Market Size (Value) Estimates & Forecast by Country, 2022-2029 41.1.1. Brazil 41.1.2. Argentina 41.1.3. Rest of South America 42. Brazil Coiled Tubing Market Analysis and Forecasts, 2022-2029 42.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 42.2. Market Size (Value) Estimates & Forecast By Operation, 2022-2029 42.3. Market Size(Value) Estimates & Forecast By Application, 2022-2029 43. Argentina Coiled Tubing Market Analysis and Forecasts, 2022-2029 43.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 43.2. Market Size (Value) Estimates & Forecast By Operation, 2022-2029 43.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 44. Rest of South America Coiled Tubing Market Analysis and Forecasts, 2022-2029 44.1. Market Size (Value) Estimates & Forecast By Service, 2022-2029 44.2. Market Size (Value) Estimates & Forecast By Operation, 2022-2029 44.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 45. Competitive Landscape 45.1. Geographic Footprint of Major Players in the Global Electronic Recycling Market. 45.2. Competition Matrix 45.2.1. Competitive Benchmarking of Key Players By Price, Presence, Market Share, Functionalities and R&D Investment 45.2.2. New Service Launches and Service Enhancements 45.2.3. Market Consolidation 45.2.3.1. M&A by Regions, Investment and Verticals 45.2.3.2. M&A, Forward Integration and Backward Integration 45.2.3.3. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements 45.3. Company Profile : Key Players 45.3.1. Schlumberger Ltd 45.3.1.1. Company Overview 45.3.1.2. Financial Overview 45.3.1.3. Geographic Footprint 45.3.1.4. Service Portfolio 45.3.1.5. Business Strategy 45.3.1.6. Recent Wavelengths 45.3.2. Halliburton Co. 45.3.3. Baker Hughes Inc. 45.3.4. Archer Limited 45.3.5. C&J Energy Services Inc. 45.3.6. Calfrac Well Services Ltd 45.3.7. Key Energy Services Inc. 45.3.8. Nabors Industries Ltd 45.3.9. RPC Inc. 45.3.10. Sanjel Corporation 45.3.11. Superior Energy Services Inc. 45.3.12. Trican Well Service Ltd 45.3.13. Weatherford International Ltd 45.3.14. Nabors Industries, Ltd. 45.3.15. Smape S.r.l 45.3.16. Jereh Group 46. Primary Key Insights