All updated as on -
At a well site, coiled tubing is a long metal pipe that is wound around a big reel and used for maintenance and workovers. The metal pipe is one long piece that may be lowered into the borehole to a depth of up to 15,000 feet.
The global need for energy has increased significantly, which is driving the growth of the coiled tubing sector. The rising popularity of horizontal drilling and the expanding use of natural gas as a fuel source both stimulate the market for coiled tubes. During the projection period, the industry is expected to rise due to the declining oil output around the world. Demand in the sector is expected to rise throughout the forecast period as a result of rising production and development activities and the growing trend of developing unconventional oil blocks.
Increasing demand for conventional fuels in developing nations is a key factor fueling the expansion of the global coiled tubing market. However, the market expansion is hampered by the quick development of the electric car industry and the government's strict rules regarding environmental pollution from oil & gas products. However, the quick shift from coal to gas power plants and the increasing popularity of gas-powered vehicles are expected to create promising growth possibilities for the market's dominant players in the future years. The global coiled tubing market is broken down into operational, geographical, functional, and geographical submarkets. The market is broken down into subsets that focus on certain applications such as pumping, recirculation, logging, and others. It is divided into onshore and offshore subsets depending on its physical location. Well intervention, drilling, and other uses are all sub-categories. North America, Europe, Asia-Pacific, and the Least Developed Countries and Emerging Economies are all examined.
Over 65 percent of the global market's revenue in 2021 came from well intervention and production. When performing a well intervention, coiled tubing is preferred over conventional tubing because the latter must be screwed together. Since the former may be installed without stopping production, it is the preferred option. Not only is it cheap, but it may also be utilised in high-pressure wells. Coiled tubing is becoming increasingly used in high-tech oil and gas operations, particularly in enhanced oil recovery and hydraulic and acid fracturing. Uzma Engineering, for instance, won a well reactivation contract from Petroliam Nasional Berhad in August 2021. Well intervention services including coiled tubing, desander, pumping, and testing are all things that this business is required to do.
The investment of national oil firms and integrated oil majors on global upstream and operational activities has increased. Additionally, the oil and gas upstream industry is enhancing its operational activities and expanding production in response to the rising demand for oil and gas. The market for coiled tubing is growing as a result of all these causes. The apparatus used to create coiled tubing is quite modest, and the tubing itself has a thin wall. There is a considerable risk of operational damage because of the repeated bending and straightening of the tubing, which might result in a minor fault due to corrosion or mechanical stress. Research shows that corrosion, mechanical damage, human mistake, and manufacturing flaws were to blame for 80-90% of coiled tubing string failures in the last two decades. The key motivating drivers for exploration & production operators to explore new oilfields, especially in offshore regions, include technological advances in exploration, the depleting oil reserves in shallow water, and the commercial feasibility of the exploration operations. Thus opening up fresh prospects for coiled tubing.
Report Coverage
Global Coiled Tubing research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Coiled Tubing report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Coiled Tubing competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Coiled Tubing market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Coiled Tubing market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Coiled Tubing market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Schlumberger, Halliburton, Weatherford, Baker Hughes, GE Company, Nabors Industries Ltd, C&J Energy Services Inc, Trican, Calfrac Well Services Ltd, RPC Inc, Step Energy Services Ltd
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Coiled Tubing market based on the below-mentioned segments:
Global Coiled Tubing Market, By Type
Well Intervention
Drilling
Others
Global Coiled Tubing market, By Application
Onshore
Offshore
Global Coiled Tubing Market, By OPERATION
Pumping
Circulation
Logging
Others
Global Coiled Tubing market, Regional Analysis
The global need for energy has increased significantly, which is driving the growth of the coiled tubing sector. The rising popularity of horizontal drilling and the expanding use of natural gas as a fuel source both stimulate the market for coiled tubes. During the projection period, the industry is expected to rise due to the declining oil output around the world. Demand in the sector is expected to rise throughout the forecast period as a result of rising production and development activities and the growing trend of developing unconventional oil blocks.
Increasing demand for conventional fuels in developing nations is a key factor fueling the expansion of the global coiled tubing market. However, the market expansion is hampered by the quick development of the electric car industry and the government's strict rules regarding environmental pollution from oil & gas products. However, the quick shift from coal to gas power plants and the increasing popularity of gas-powered vehicles are expected to create promising growth possibilities for the market's dominant players in the future years. The global coiled tubing market is broken down into operational, geographical, functional, and geographical submarkets. The market is broken down into subsets that focus on certain applications such as pumping, recirculation, logging, and others. It is divided into onshore and offshore subsets depending on its physical location. Well intervention, drilling, and other uses are all sub-categories. North America, Europe, Asia-Pacific, and the Least Developed Countries and Emerging Economies are all examined.
Over 65 percent of the global market's revenue in 2021 came from well intervention and production. When performing a well intervention, coiled tubing is preferred over conventional tubing because the latter must be screwed together. Since the former may be installed without stopping production, it is the preferred option. Not only is it cheap, but it may also be utilised in high-pressure wells. Coiled tubing is becoming increasingly used in high-tech oil and gas operations, particularly in enhanced oil recovery and hydraulic and acid fracturing. Uzma Engineering, for instance, won a well reactivation contract from Petroliam Nasional Berhad in August 2021. Well intervention services including coiled tubing, desander, pumping, and testing are all things that this business is required to do.
The investment of national oil firms and integrated oil majors on global upstream and operational activities has increased. Additionally, the oil and gas upstream industry is enhancing its operational activities and expanding production in response to the rising demand for oil and gas. The market for coiled tubing is growing as a result of all these causes. The apparatus used to create coiled tubing is quite modest, and the tubing itself has a thin wall. There is a considerable risk of operational damage because of the repeated bending and straightening of the tubing, which might result in a minor fault due to corrosion or mechanical stress. Research shows that corrosion, mechanical damage, human mistake, and manufacturing flaws were to blame for 80-90% of coiled tubing string failures in the last two decades. The key motivating drivers for exploration & production operators to explore new oilfields, especially in offshore regions, include technological advances in exploration, the depleting oil reserves in shallow water, and the commercial feasibility of the exploration operations. Thus opening up fresh prospects for coiled tubing.
Report Coverage
Global Coiled Tubing research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Coiled Tubing report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Coiled Tubing competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Coiled Tubing market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Schlumberger, Halliburton, Weatherford, Baker Hughes, GE Company, Nabors Industries Ltd, C&J Energy Services Inc, Trican, Calfrac Well Services Ltd, RPC Inc, Step Energy Services Ltd |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Coiled Tubing Market from 2021 to 2030.
- Market Forecast for Coiled Tubing Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Coiled Tubing competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Coiled Tubing
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Coiled Tubing market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Coiled Tubing market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Schlumberger, Halliburton, Weatherford, Baker Hughes, GE Company, Nabors Industries Ltd, C&J Energy Services Inc, Trican, Calfrac Well Services Ltd, RPC Inc, Step Energy Services Ltd
Primary Target Market
- Market Players of Coiled Tubing
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Coiled Tubing market based on the below-mentioned segments:
Global Coiled Tubing Market, By Type
Well Intervention
Drilling
Others
Global Coiled Tubing market, By Application
Onshore
Offshore
Global Coiled Tubing Market, By OPERATION
Pumping
Circulation
Logging
Others
Global Coiled Tubing market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
You will get in-depth and extensive coiled tubing market market research and competitor analysis for your business to help you develop more profound insights into the coiled tubing market Market.
Through INFINITIVE Data Expert is a professional Market Research services, I will identify the coiled tubing market market size, demand & opportunities, growth rate, and target audience with a comprehensive analysis of your competitors.