Coiled Tubing Market Size Outlook, Key Trends, Size, Opportunities, Scope, Covid-19 Analysis, Global Research and Forecast to 2023

Market Research Future published a research report on “Coiled Tubing Market Research Report - Global Forecast till 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast Report to 2023.

Market Overview

The global coiled tubing services market is estimated to garner substantial growth in the forecast period, as per the study conducted by Market Research Future (MRFR). This study has been published in the form of a market research report and has stated that the global coiled tubing market size is expected to gain a momentous CAGR of 5.37% during the forecast period. The Coiled Tubing Services Market is estimated to garner a market revenue valuation of USD 7,091.2 million by the end of the forecast period.

Coiled tubing refers to a long metal pipe that is welded into a tube and suppled on large reels. Coiled tubing has primary applications in the pumping of chemicals in oil wells. Coiled tubing is easy to install into an oil well, which is one of its most attractive features. The global demand for energy is witnessing acceleration, which in turn, has led to a speedy approach towards the discovery of new oil wells and faster extraction of oil from the old wells. This has led to a climb in the trend of adoption of the coiled tubing in the forthcoming years across various regions. However, its high technological complexities are estimated to pose as hindrances in the growth of the global coiled tubing market over the assessment period.

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Key Competitors

MRFR identified major players in the world coiled tubing market. They are; Halliburton (US), Schlumberger (US), Baker Hughes, a GE Company LLC (US), Weatherford (US), C&J Energy Services, Inc (US), Nabors Industries Ltd (UK), Calfrac Well Services Ltd (Canada), Trican (Canada), Step Energy Services Ltd (US), RPC Inc (US), and Key Energy Services Inc (US).

Market Segmentation

The coiled tubing market is segmented on the basis of type, application, and region for detailed analysis of the market. Based on type, the global coiled tubing market is segmented into drilling and well intervention, among others. In 2017, the well intervention segment accounted for the largest share of the global coiled tubing market and was valued at USD 2,603.7 million. This value is expected to proliferate upto USD 3688.8 million by the end of the review period. The well intervention segment is expected to register a robust CAGR of 5.94% by 2023.

Based on application, the global coiled tubing services market is segmented into onshore and offshore. At the beginning of the forecast period, the onshore segment held the largest share of the global coiled tubing market. The onshore segment held a market valuation of USD 3,704.1 million. This value is likely to raise upto USD 5,095.6 million by 2023. The onshore segment is likely to record a CAGR of 5.33% by 2023.

Regional Study

In the Asia Pacific region, the coiled tube market is expected to head in the study period. The rise in focus on the vast unexplored reserves and the identification of new oil fields can boost the expansion of the market the years to come. In APAC, the rise in the count of shale reservoirs that are present in China, requires a high count of coiled tubing units. This creates high growth prospects the coiled tubing services market in APAC. The supportive political environment, substantial hydrocarbon reserves, transparent regulatory structure, and the hike in demand for oil and gas across the APAC region can attractive foreign investment. To illustrate, the 100% FDI allowed by the Indian government for market segments, such as petroleum products, natural gas, and refineries can impel the expansion of the world coiled tube market in the years to come. The increased demand for offshore oil production and growing number of refinery projects can boost APAC market growth.

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Table Of Contents: Global Coiled Tubing Market

Executive Summary
Scope Of The Report
Research Methodology
Coiled Tubing Market Landscape
Pipeline Analysis
Market Sizing
Five Forces Analysis
Coiled Tubing Market Segmentation
Customer Landscape
Regional Landscape
Decision Framework
Drivers And Challenges
Coiled Tubing Market Trends
Vendor Landscape
Vendor Analysis
Appendix
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