Global Coiled Tubing Market Projected to Witness Steady Growth on Account of Renewed Focus on Shale Gas Exploration

The global coiled tubing market is likely to grow at a steady rate in the foreseeable future, according to a new research report added to the repository of Market Research Reports Search Engine (MRRSE). The report is titled “Coiled Tubing Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth And Forecast, 2013 – 2019” and offers valuable guidance and analysis on the key factors that are shaping the growth of coiled tubing globally.

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According to the report, demand for coiled tubing is witnessing a steady growth on account of its wide ranging applications in the oil & gas industry. It is mainly used for upstream activities and helps in reducing the dependence on human intervention. Coiled tubing is also essential to maintaining well pressure and increasing the overall efficiency of a project. These factors are likely to boost the demand for coiled tubing during the forecast period.

The adoption of coiled tubing in the oil & gas industry is also projected to grow on account of macroeconomic trends, such as increase in oil and shale gas exploration activities. As many developed economies are focusing on becoming self-sufficient and investing in exploring shale gas reserves, the adoption of coiled tubing is also likely to witness an uptick. These factors can contribute to greater opportunities for coiled tubing market players during the assessment period.

In a bid to give readers detailed information about the key factors, the report has segmented the market on the basis of       drilling and well intervention services. Well intervention services can be further sub-segmented into well completion and cleaning. Demand for coiled tubing for these functions and total sales are offered in the report.

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To provide readers with extensive information on how coiled tubing market is performing in different regions, the report offers market forecast and analysis on different regions. The key regions analyzed in the report include North America, Europe, Asia Pacific, and Rest of the World (RoW). North America remains one of the leading markets for coiled tubing globally, on account of high emphasis on increasing operational efficiency in the oil & gas sector. Countries such as the US and Canada are moving towards shale gas exploration, which is likely to create growth opportunities for coiled tubing market players during the forecast period. Middle East & Africa (MEA) is another key region where manufacturers can expect a range of opportunities.

The report also offers a detailed competitive landscape, profiling the leading players in this market. The competitive landscape discusses the key companies, their strategies, and developments. The competitive analysis can help readers in understanding the present scenario in the market.

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This release was published on openPR.