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Global Coiled Tubing Services Market Size To Grow At A CAGR Of 6.2% In The Forecast Period Of 2023-2028

12-08-2022 07:20 AM CET | Industry, Real Estate & Construction

Press release from: Expert Market Research

Global Coiled Tubing Services Market Size To Grow At A CAGR Of 6.2%

The 'Global Coiled Tubing Services Market Size, Report and Forecast 2023-2028' by Expert Market Research gives an extensive outlook of the global coiled tubing services market, assessing the market on the basis of its segments like service, operation, application, and major regions.

The key highlights of the report include:

Market Overview (2018-2028)

• Historical Market Size (2021): USD 3.70 billion

• Forecast CAGR (2023-2028): 6.2%

• Forecast Market Size (2027): USD 5.31 billion

The global coiled tubing services market is expected to register growth during the forecast period on account of the surging well intervention operations. The increasing drilling activities for oil and gas along with growing economies worldwide are expected to enhance the market growth of coiled tubing services over the coming years.

Get a Free Sample Report with Table of Contents- https://www.expertmarketresearch.com/reports/coiled-tubing-services-market/requestsample

The rising investments for the development as well as production of hydrocarbons are likely to arise as substantial factors driving the market growth of coiled tubing services over the forecast period. The increasing support of various governments along with other private units for production and exploration activities is likely to further intensify the coiled tubing services market growth across the globe. However, the shifting prices of raw materials is expected to hamper the market growth of coiled tubing services.

The well intervention segment is likely to witness significant growth in the market of coiled tubing services on account of the rising capital expenditure on well performance improvement along with well cleaning. Coiled tubing services are highly preferred in well intervention purposes as they support operations like re-perforation, stimulation, fluid pumping, sand control, zonal isolation, and fishing which is likely to propel the segment growth in the market.

The rising demand increased production from wells, setting of plugs or packers, and scale removal, among others, is expected to aid the well intervention segment growth in the coiled tubing services market during the forecast period.

Coiled Tubing Services Industry Definition and Major Segments

Coiled tubing are long metal pipes with constant length that are stored by rolling on the surface of large reels, and are used to service wells. Constant improvements in technology along with reliability mean that coiled tubing is now a common intervention technique. Coiled tubing services are of different kinds like well intervention, and drilling among others.

Read Full Report with Table of Contents- https://www.expertmarketresearch.com/reports/coiled-tubing-services-market

Based on service, the market is segmented into:

• Drilling
• Well Intervention
• Others

By operation, the market is classified into:

• Circulation
• Pumping
• Logging
• Perforation
• Others

On the basis of application, the market is bifurcated into:

• Onshore
• Offshore

Based on region, the market is divided into:

• North America
• Latin America
• Asia Pacific
• Europe
• Middle East and Africa

Coiled Tubing Services Market Trends

The surging number of mature offshore fields in various regions along with the rising energy demand are expected to propel the market demand for coiled tubing services over the upcoming years.

Geographically, the North America region is anticipated to drive the coiled tubing services market growth as the region has a huge potential for shale gas, oil production, tight gas reserves, and natural gas. The region has numerous rigs along with a growing number of wells which is further expected to support the market growth in the region.

The United States is likely to hold significant growth in the coiled tubing services market due to the high energy demand across the country. The country is known for the adoption of advanced technology along with the presence of key market players are likely to push forward the market growth over the coming years.

With the redevelopment of matured fields and growing drilling activities in the United States, the market growth of coiled tubing services is expected to increase. The surging expansion of new well drilling along with the production of well bases is likely to enhance the market growth in the region.

Key Market Players

The major players in the Coiled Tubing Services Market report are:

• Baker Hughes Company
• Halliburton Company
• Schlumberger Limited
• Weatherford International plc
• Calfrac Well Services Ltd.
• Others

The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.

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Media Contact:

Company Name: Claight Corporation
Contact Person: Frara Prih, Corporate Sales Specialist - U.S.A.
Email: sales@expertmarketresearch.com
Toll Free Number: +1-415-325-5166 | +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA
Website: www.expertmarketresearch.com
LinkedIn:- https://www.linkedin.com/company/expert-market-research

About Us:

Expert Market Research (EMR) is a leading market research company with clients across the globe. Through comprehensive data collection and skilful analysis and interpretation of data, the company offers its clients extensive, latest, and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium-scale enterprises.

EMR customises syndicated reports according to client's requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.

Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate, and actionable industry intelligence so that they may formulate informed, effective, and intelligent business strategies and ensure their leadership in the market.

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