2019 – 2025, Coil Tubing Market Size, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast | C&J Energy Services, Superior Energy., Halliburton, STEP Energy Services, Calfrac Well Services, Archer, Key Energy Servic

Coil Tubing Market is anticipated to grow owing to the upsurge in demand for redevelopment of maturing oil and gas fields and the increasing oil extraction operating costs. Ability to offer time saving and cost-effective solutions for drilling and well intervention operation will further complement the business scenario. It helps to reduce the drilling time by 30% to 60% compared with conventional jointed pipe drilling rigs.

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The U.S. coil tubing Industry is anticipated to witness significant growth due to increasing investment toward development of shale gas. Abundant availability of hydrocarbon resources and ongoing R&D activities to improve drilling equipment performance will further complement the business outlook. For instance, in 2016, according to Energy Information Administration (EIA) the U.S. held over 600 trillion cubic feet of wet shale gas and over 75 billion barrels of tight oil. Shift in trend toward horizontal lateral drilling especially in shale reserves for well intervention and completion will further complement the industry landscape. In 2016, STEP deployed 5 coil tubing fleet in the U.S for development of shale resources.

Well intervention coil tubing market is predicted to witness robust growth due to growing demand to provide effective well geometry, diagnostic, and production. Emerging demand to improve productivity of mature fields coupled with increasing energy consumption will further propel the business landscape.

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Growing investments through FDI channel in upstream sector along with abundant availability of proven and potential reserves will positively influence the Indonesia market size. In 2017, the country held about 150 tcf of gas, over 7 billion barrels of oil, 450 tcf of cbm and 575 tcf of shale gas reserves. In 2017, SKK Migas, Indonesia's upstream oil and gas regulator has targets to accrue over USD 12 billion investments across the domestic O&G sector. Introduction of several initiatives including tax schemes and production sharing contract to promote the production of undeveloped O&G fields will further augment the industry landscape.

Introduction of several licensing rounds for E&P of deep-water resources will fuel the offshore coil tubing market size. For instance, in 2018, Mexico launched deep-water licensing round which offers 30 licenses in the Gulf of Mexico. The offers include 10 licenses in the Mexicana Salinas and Ridges basin areas, one in Yucatan platform and prolific Perdido foldbelt.

Upliftment of sanction from western European countries has increased the oil production in several nations including Iran, which will stimulate the Middle East and Africa market. For Instance, in 2017, Iran crude oil production was increased to 3.8 MMbpd from 3.5 MMbpd in 2016. Further, growing investment toward exploration of new reserves across South and Central Africa will raise the industry size. In 2018, Savannah Petroleum plc, discovered oil reserve at the Bushiya-1 exploration well, located in onshore region of south east Niger.

Key players in the Industry include C&J Energy Services, Superior Energy., Halliburton, STEP Energy Services, Calfrac Well Services, Archer, Key Energy Services, Baker Hughes, Trican Well Services, Weatherford International and. Schlumberger, Koller Maschinen- und Anlagenbau and National Oilwell Varco.

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Methodology:
At Global Market Insights, our researchers and domain experts use a unique blend of primary and secondary research, with validation and iterations at every stage, in order to minimize deviation and present the most accurate analysis of the industry. The research process begins with extensive data mining, using authentic sources such as trade magazines, technical publications, independent studies along with paid avenues such as ICIS, Hoovers, etc. Primary objectives of data mining include:

• Definition and scope of research
• Market dynamics, growth drivers and industry pitfalls
• Regulatory and political guidelines for the industry
• Demographics and statistical data

All the above factors are identified and analyzed in detail, with their present and expected market impact, which is quantified and used to derive market growth expectation. Market forecast is built using statistical analysis with models built around time-variance, regression and correlation analytics.

Significant emphasis is put on primary research, which serves the dual role or not only validating our findings but also obtaining penetrating market insights, which help us gain more clarity regarding business environment and competitive leverage. Notable participants in our primary research process include:

• Leadership figures such as CEOs, CSOs, VPs etc. in key companies
• Supply-chain participants, distributors and domain experts
• Key customers and B2B clients

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