Coiled Tubing Market Forecasts to 2028 – Global Analysis By Product Type (Non-Alloy Steel, Low Carbon Alloy Steel), Application (Air Lift Drop, Sand Blanking), End User (Construction Industry, Oil and Gas), and By Geography
According to Stratistics MRC, the Global Coiled Tubing Market is accounted for $3.00 billion in 2020 and is expected to reach $5.47 billion by 2028 growing at a CAGR of 7.8% during the forecast period. Factors such as upsurge in production of conventional energy resource, increasing investments in offshore oil & gas industry, and advancements in shale oil extraction are driving the growth of the market. However, regulations associated with operational safety are hampering the growth of the market.
Coiled tubing (CT) is a long metal pipe spooled over a large reel and is primarily used to perform workover & repair activities across well sites. There are no joints & cuts in the coiled tube, making it more effective for well boreholes with a depth of over 15,000 feet. In several regions, it is often used to carry out operations similar to wirelining.
Based on the location, the onshore segment is anticipated to expand at a rapid pace during the forecast period owing to the development of domestic shale gas and tight oil reserves. By geography, North America is going to have high growth during the forecast period which can be attributed to the growth in unconventional resources in the US and Canada.
Some of the key players profiled in the Coiled Tubing Market include Weatherford, Trican, Superior Energy Services, Baker Hughes Company, National Energy Services Reunited, RPC Inc., Pioneer Energy Services, Oilserv, STEP Energy Services, Nine Energy Services, Schlumberger, Legend Energy Services, Key Energy Services, Halliburton, Calfrac Well Services, Basic Energy Services, Oceaneering International, Altus Intervention, and NexTier Oilfield Solutions.
Estimated Market Size in 2020:
USD 3.00 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 5.47 billion
Tables, Graphs& Figures
Product, Tubing Fleet, Service, Location, Application, End User, Sales Channel and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
Product Types Covered:
• Non-Alloy Steel Composite Tube
• Low Carbon Alloy Steel Tube
Tubing Fleets Covered:
• Medium Class
• Light Class
• Heavy Class
• Drilling Service
• Well Intervention & Production
• Other Services
• Wellbore Cleanouts
• Pipeline Cleanout
• Nitrogen Jetting & Inject Liquid Nitrogen
• Clear Wax
• Drilling Bridge Plug
• Gas Lift
• Electrical Submersible Pump Cable Conduit
• Air Lift Drop
• Sand Blanking
End Users Covered:
• Construction Industry
• Engineering Procurement
• Oil and Gas
Sales Channels Covered:
• Direct Sales
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Coiled Tubing Market is majorly driven by upsurge in production of conventional energy resource, increasing investments in offshore oil & gas industry, and advancements in shale oil extraction.
The onshore segment is growing at a highest CAGR owing to the development of domestic shale gas and tight oil reserves.
North America dominated with a significant market share due to the growth in unconventional resources in the region.
Asia Pacific market is growing at a highest CAGR owing to the growing population, which leads to high energy requirements.
Key players in Coiled Tubing Market include Weatherford, Trican, Superior Energy Services, Baker Hughes Company, National Energy Services Reunited, RPC Inc., Pioneer Energy Services, Oilserv, STEP Energy Services, Nine Energy Services, Schlumberger, Legend Energy Services, Key Energy Services, Halliburton, Calfrac Well Services, Basic Energy Services, Oceaneering International, Altus Intervention, and NexTier Oilfield Solutions.
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