Press release
Coiled Tubing Market is Expected to Grow at 6.75% CAGR by Forecast to 2023 | Global Industry Competitive Analysis: Superior Energy Services Inc, Weatherford International Ltd., Halliburton Company , C&J Energy Services, Inc
The key players in the global coiled tubing market are Baker Hughes (U.S.), Nabors Industries Ltd.. (Bermuda), Superior Energy Services Inc. (U.S.), Weatherford International Ltd.(U.S), Halliburton Company (U.S.), Archer Limited (Bermuda), C&J Energy Services, Inc. (U.S), Calfrac Well Services Ltd. (Canada), RPC, Inc. (U.S.), Trican Well Services (Canada), Sanjel Corporation (Canada), Key Energy Services (U.S.), and Schlumberger (France).
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Gobal Industry Highlights:-
The global coiled tubing market is expected to witness a growing demand with recent increase in oil and gas exploration and drilling processes. The oil and gas industry is recovering from a price slowdown with increased investment in exploration and production activities, globally, is expected to be the driver for coiled tubing market. Also, there is an increased demand for oil in growing economies such as in India, Indonesia, and Philippines, which is further driving the demand for new oil exploration and drilling activities. On the other hand, to reduce the cost associated with construction of new offshore facilities, oil and gas majors are also investing in enhanced oil recovery processes in ageing mature oil fields, which further drives the market for coiled tubing.
Market Segmentation:
The global coiled tubing market is segmented on the basis of service type and by application. Based on service type, the market is segmented as well intervention services and drilling services. The well intervention services are further classified as well completion and well-cleaning activities. Well intervention services are expected to command the largest market share with these services being carried out to improve production from an existing oil well throughout its operational lifetime.
Industry Developments:
In August 2018, a new revolutionary drill rig- RoXplorer® coiled tubing (CT) rig, has been licensed to IMDEX, a global leader in mining equipment, technology, and services (METS).
In August 2018, Mayan, an AIM-listed oil & gas company, has announced the acquisition of 60% working interest/ 45% net revenue interest in three horizontal and two vertical Texas-based Austin Chalk wells. The company has planned to use coiled tubing rig for cleaning out, working over, and acidizing Austin Chalk Zone in each of the horizontal laterals.
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Major Points From TOC:-
1. REPORT PROLOGUE
2. INTRODUCTION
3. RESEARCH METHODOLOGY
3.1. RESEARCH PROCESS
3.2. PRIMARY RESEARCH
3.3. SECONDARY RESEARCH
3.4. MARKET SIZE ESTIMATION
3.5. FORECAST MODEL
4. MARKET DYNAMICS
4.1. DRIVERS & OPPORTUNITIES
4.2. CHALLENGES & RESTRAINTS
4.3. VALUE CHAIN ANALYSIS
4.4. PORTER’S FIVE FORCES ANALYSIS
To be Continued......
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