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.
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Report Coverage |
Details |
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Published Year: |
2021 |
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Estimated Market Size in 2020: |
USD 3.00 billion |
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Estimated Period: |
2020 |
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Compound Annual Growth Rate (CAGR) from 2020 to 2028: |
7.8% |
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Predicted 2028 Value: |
USD 5.47 billion |
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Forecast Years: |
2021-2028 |
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Tables, Graphs& Figures |
356 |
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Chapters Covered: |
Product, Tubing Fleet, Service, Location, Application, End User, Sales Channel and Region |
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Core Drivers and Opportunities: |
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Restraining Factors & Market Threats: |
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Product Types Covered:
• Non-Alloy Steel Composite Tube
• Low Carbon Alloy Steel Tube
Tubing Fleets Covered:
• Medium Class
• Light Class
• Heavy Class
Services Covered:
• Drilling Service
• Well Intervention & Production
• Perforating
• Other Services
Locations Covered:
• Offshore
• Onshore
Applications Covered:
• Wellbore Cleanouts
• Pipeline Cleanout
• Nitrogen Jetting & Inject Liquid Nitrogen
• Clear Wax
• Drilling Bridge Plug
• Gas Lift
• Electrical Submersible Pump Cable Conduit
• Cementing
• Air Lift Drop
• Sand Blanking
End Users Covered:
• Construction Industry
• Engineering Procurement
• Oil and Gas
Sales Channels Covered:
• Direct Sales
• Distributor
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
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.
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Coiled Tubing Market, By Product
5.1 Introduction
5.2 Non-Alloy Steel Composite Tube
5.3 Low Carbon Alloy Steel Tube
6 Global Coiled Tubing Market, By Tubing Fleet
6.1 Introduction
6.2 Medium Class
6.3 Light Class
6.4 Heavy Class
7 Global Coiled Tubing Market, By Service
7.1 Introduction
7.2 Drilling Service
7.2.1 Seismic-Guided Drilling
7.2.2 Managed Pressure Drilling
7.2.3 Directional Drilling
7.3 Well Intervention & Production
7.3.1 Well Cleaning & Pumping Operations
7.3.2 Well Completions & Mechanical Operations
7.3.2.1 Logging
7.3.2.2 Fishing
7.3.2.3 Acid & Chemical Treatment
7.4 Perforating
7.4.1 Subsea Well Perforating
7.4.2 Live Well Perforating
7.4.3 Depleted Well Perforating
7.5 Other Services
7.5.1 Fracturing
7.5.2 Wireline Logging
7.5.3 Inspection
7.5.4 Milling Services
7.5.5 Engineering Services
7.5.6 Nitrogen Services
7.5.7 Circulation/Deliquification
7.5.8 Pumping
8 Global Coiled Tubing Market, By Location
8.1 Introduction
8.2 Offshore
8.2.1 Ultra-Deep
8.2.2 Shallow
8.2.3 Deep
8.3 Onshore
9 Global Coiled Tubing Market, By Application
9.1 Introduction
9.2 Wellbore Cleanouts
9.2.1 Deposits
9.2.2 Wash Sand and Wash Wells
9.2.3 Small Acidification of Gas Well
9.2.4 Paraffin Sediments/Paraffin Clearing
9.2.5 Debris
9.3 Pipeline Cleanout
9.4 Nitrogen Jetting & Inject Liquid Nitrogen
9.5 Clear Wax
9.6 Drilling Bridge Plug
9.7 Gas Lift
9.8 Electrical Submersible Pump Cable Conduit
9.9 Cementing
9.10 Air Lift Drop
9.11 Sand Blanking
10 Global Coiled Tubing Market, By End User
10.1 Introduction
10.2 Construction Industry
10.3 Engineering Procurement
10.4 Oil and Gas
11 Global Coiled Tubing Market, By Sales Channel
11.1 Introduction
11.2 Direct Sales
11.3 Distributor
12 Global Coiled Tubing Market, By Geography
12.1 Introduction
12.2 North America
12.2.1 US
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 Italy
12.3.4 France
12.3.5 Spain
12.3.6 Rest of Europe
12.4 Asia Pacific
12.4.1 Japan
12.4.2 China
12.4.3 India
12.4.4 Australia
12.4.5 New Zealand
12.4.6 South Korea
12.4.7 Rest of Asia Pacific
12.5 South America
12.5.1 Argentina
12.5.2 Brazil
12.5.3 Chile
12.5.4 Rest of South America
12.6 Middle East & Africa
12.6.1 Saudi Arabia
12.6.2 UAE
12.6.3 Qatar
12.6.4 South Africa
12.6.5 Rest of Middle East & Africa
13 Key Developments
13.1 Agreements, Partnerships, Collaborations and Joint Ventures
13.2 Acquisitions & Mergers
13.3 New Product Launch
13.4 Expansions
13.5 Other Key Strategies
14 Company Profiling
14.1 Weatherford
14.2 Trican
14.3 Superior Energy Services
14.4 Baker Hughes Company
14.5 National Energy Services Reunited
14.6 RPC Inc.
14.7 Pioneer Energy Services
14.8 Oilserv
14.9 STEP Energy Services
14.10 Nine Energy Services
14.11 Schlumberger
14.12 Legend Energy Services
14.13 Key Energy Services
14.14 Halliburton
14.15 Calfrac Well Services
14.16 Basic Energy Services
14.17 Oceaneering International
14.18 Altus Intervention
14.19 NexTier Oilfield Solutions
List of Tables
1 Global Coiled Tubing Market Outlook, By Region (2019-2028) ($MN)
2 Global Coiled Tubing Market Outlook, By Product (2019-2028) ($MN)
3 Global Coiled Tubing Market Outlook, By Non-Alloy Steel Composite Tube (2019-2028) ($MN)
4 Global Coiled Tubing Market Outlook, By Low Carbon Alloy Steel Tube (2019-2028) ($MN)
5 Global Coiled Tubing Market Outlook, By Tubing Fleet (2019-2028) ($MN)
6 Global Coiled Tubing Market Outlook, By Medium Class (2019-2028) ($MN)
7 Global Coiled Tubing Market Outlook, By Light Class (2019-2028) ($MN)
8 Global Coiled Tubing Market Outlook, By Heavy Class (2019-2028) ($MN)
9 Global Coiled Tubing Market Outlook, By Service (2019-2028) ($MN)
10 Global Coiled Tubing Market Outlook, By Drilling Service (2019-2028) ($MN)
11 Global Coiled Tubing Market Outlook, By Seismic-Guided Drilling (2019-2028) ($MN)
12 Global Coiled Tubing Market Outlook, By Managed Pressure Drilling (2019-2028) ($MN)
13 Global Coiled Tubing Market Outlook, By Directional Drilling (2019-2028) ($MN)
14 Global Coiled Tubing Market Outlook, By Well Intervention & Production (2019-2028) ($MN)
15 Global Coiled Tubing Market Outlook, By Well Cleaning & Pumping Operations (2019-2028) ($MN)
16 Global Coiled Tubing Market Outlook, By Well Completions & Mechanical Operations (2019-2028) ($MN)
17 Global Coiled Tubing Market Outlook, By Perforating (2019-2028) ($MN)
18 Global Coiled Tubing Market Outlook, By Subsea Well Perforating (2019-2028) ($MN)
19 Global Coiled Tubing Market Outlook, By Live Well Perforating (2019-2028) ($MN)
20 Global Coiled Tubing Market Outlook, By Depleted Well Perforating (2019-2028) ($MN)
21 Global Coiled Tubing Market Outlook, By Other Services (2019-2028) ($MN)
22 Global Coiled Tubing Market Outlook, By Fracturing (2019-2028) ($MN)
23 Global Coiled Tubing Market Outlook, By Wireline Logging (2019-2028) ($MN)
24 Global Coiled Tubing Market Outlook, By Inspection (2019-2028) ($MN)
25 Global Coiled Tubing Market Outlook, By Milling Services (2019-2028) ($MN)
26 Global Coiled Tubing Market Outlook, By Engineering Services (2019-2028) ($MN)
27 Global Coiled Tubing Market Outlook, By Nitrogen Services (2019-2028) ($MN)
28 Global Coiled Tubing Market Outlook, By Circulation/Deliquification (2019-2028) ($MN)
29 Global Coiled Tubing Market Outlook, By Pumping (2019-2028) ($MN)
30 Global Coiled Tubing Market Outlook, By Location (2019-2028) ($MN)
31 Global Coiled Tubing Market Outlook, By Offshore (2019-2028) ($MN)
32 Global Coiled Tubing Market Outlook, By Ultra-Deep (2019-2028) ($MN)
33 Global Coiled Tubing Market Outlook, By Shallow (2019-2028) ($MN)
34 Global Coiled Tubing Market Outlook, By Deep (2019-2028) ($MN)
35 Global Coiled Tubing Market Outlook, By Onshore (2019-2028) ($MN)
36 Global Coiled Tubing Market Outlook, By Application (2019-2028) ($MN)
37 Global Coiled Tubing Market Outlook, By Wellbore Cleanouts (2019-2028) ($MN)
38 Global Coiled Tubing Market Outlook, By Deposits (2019-2028) ($MN)
39 Global Coiled Tubing Market Outlook, By Wash Sand and Wash Wells (2019-2028) ($MN)
40 Global Coiled Tubing Market Outlook, By Small Acidification of Gas Well (2019-2028) ($MN)
41 Global Coiled Tubing Market Outlook, By Paraffin Sediments/Paraffin Clearing (2019-2028) ($MN)
42 Global Coiled Tubing Market Outlook, By Debris (2019-2028) ($MN)
43 Global Coiled Tubing Market Outlook, By Pipeline Cleanout (2019-2028) ($MN)
44 Global Coiled Tubing Market Outlook, By Nitrogen Jetting & Inject Liquid Nitrogen (2019-2028) ($MN)
45 Global Coiled Tubing Market Outlook, By Clear Wax (2019-2028) ($MN)
46 Global Coiled Tubing Market Outlook, By Drilling Bridge Plug (2019-2028) ($MN)
47 Global Coiled Tubing Market Outlook, By Gas Lift (2019-2028) ($MN)
48 Global Coiled Tubing Market Outlook, By Electrical Submersible Pump Cable Conduit (2019-2028) ($MN)
49 Global Coiled Tubing Market Outlook, By Cementing (2019-2028) ($MN)
50 Global Coiled Tubing Market Outlook, By Air Lift Drop (2019-2028) ($MN)
51 Global Coiled Tubing Market Outlook, By Sand Blanking (2019-2028) ($MN)
52 Global Coiled Tubing Market Outlook, By End User (2019-2028) ($MN)
53 Global Coiled Tubing Market Outlook, By Construction Industry (2019-2028) ($MN)
54 Global Coiled Tubing Market Outlook, By Engineering Procurement (2019-2028) ($MN)
55 Global Coiled Tubing Market Outlook, By Oil and Gas (2019-2028) ($MN)
56 Global Coiled Tubing Market Outlook, By Sales Channel (2019-2028) ($MN)
57 Global Coiled Tubing Market Outlook, By Direct Sales (2019-2028) ($MN)
58 Global Coiled Tubing Market Outlook, By Distributor (2019-2028) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
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