Press release
Global Coiled Tubing Market: Growth in Oil & Gas Sector to Remain Key Driving Factor, finds TMR Research
The report identifies the leading factors driving and hampering the global coiled tubing market. It has been observed that a thriving oil and gas sector is the primary driving force of this market and as spending on oil and gas projects increase, the coiled tubing market will continue to gain impetus. There has also been an ongoing discovery of new reserves and the redevelopment of mature ones in several regions of the world. Moreover, in countries such as the U.S., the exploration of shale gas and drilling activities in deep-water and offshore fields has been on the rise. This has driven the demand for coiled tubing. As the focus on unconventional reservoirs grows, the coiled tubing market is slated to receive a significant boost in the coming years. However, a declining rig count and strict government norms regarding drilling activities will pose major challenges to those investing in the market.
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From a geographical perspective, the global market for coiled tubing is divided into North America, Europe, Asia Pacific, and Rest of the World. Accounting for the dominant share, North America is the largest regional market for coiled tubing, powered mainly by the U.S. This can be attributed to the surging exploration and extraction activities in shale oil and gas reserves in the region. Asia Pacific holds strong potential in the coiled tubing market owing to rising investments in coiled tubing technology by public as well as private companies in the field and an increase in the extraction of shale gas in China. The Rest of the World segment, which includes the Middle East, is also a market with immense scope for growth. Qatar, the UAE, and Saudi Arabia are key centers of crude oil production and the rising demand for innovative oil and gas exploration technologies is slated to give this region a major push.
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Antech Limited, McCoy Global Inc., Interwell Norway AS, Royal Lhc, Viking Services B.V., GOES GmbH, JB Power Llc, Merinox, ROSEN USA Inc., Hydressco, LLC, Spooltech, LLC, Archer Limited, Krawford Inc., Stewart & Stevenson, LLC, and Peerless Limited are some of the leading players operating in the global coiled tubing market.
Read Complete Report @ https://www.tmrresearch.com/coiled-tubing-market
About TMR Research
TMR Research is a premier provider of customized market research and consulting ser-vices to business entities keen on succeeding in today’s supercharged economic climate. Armed with an experienced, dedicated, and dynamic team of analysts, we are redefining the way our clients’ conduct business by providing them with authoritative and trusted research studies in tune with the latest methodologies and market trends.
Our savvy custom-built reports span a gamut of industries such as pharmaceuticals, chemicals and metals, food and beverages, and technology and media, among others. With actionable insights uncovered through in-depth research of the market, we try to bring about game-changing success for our clients.
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