PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1833646
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1833646
Europe Coiled Tubing Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2025 - 2034
Europe Coiled Tubing Market was valued at USD 612.3 million in 2024 and is estimated to grow at a CAGR of 3.7% to reach USD 875.2 million by 2034.
The need to meet increasing energy demand, alongside the challenge of aging oil and gas infrastructure, is encouraging investment in drilling technologies and well intervention solutions, further boosting growth. Innovations in coiled tubing operations are lowering operational costs and enhancing efficiency, making the technology more attractive across the industry. Expanding offshore drilling activities, coupled with the broader move toward automation, digitalization, and improved operational safety, are redefining the market outlook. Coiled tubing continues to provide a flexible and reliable option for operators, especially in offshore environments where efficiency and adaptability are essential. Energy companies across the region are modernizing their portfolios, prioritizing service providers with integrated and high-performance offerings, particularly as offshore projects become more complex. The adoption of advanced monitoring and precision-based solutions is expected to enhance the scope of coiled tubing services, further cementing its role in Europe's oil and gas industry.
| Market Scope | |
|---|---|
| Start Year | 2024 |
| Forecast Year | 2025-2034 |
| Start Value | $612.3 Million |
| Forecast Value | $875.2 Million |
| CAGR | 3.7% |
The well intervention segment held a 50.7% share in 2024, generating USD 310.7 million, and is anticipated to register a 4.2% CAGR through 2034. Growth in this segment is supported by evolving drilling technologies that allow more efficient access to hydrocarbon resources. The rising number of aging fields across Europe is increasing the need for cost-efficient intervention methods, which are vital for maintaining production levels and extending the operational lifespan of wells, further shaping the regional business environment.
The offshore segment held a 51% share in 2024 and is forecast to grow at a CAGR of 3.9% through 2034. This growth is fueled by expanding hydrocarbon exploration across offshore reserves, combined with rising regional energy demand. Substantial investment by oil and gas producers, alongside supportive regulatory measures for exploration and conservation of wells, is creating significant momentum for offshore applications of coiled tubing.
Russia Coiled Tubing Market held 56.7% share in 2024, generating USD 347.1 million. Its strong position is driven by increasing exploration and production across extensive oil and gas reserves, as well as the strategic priority of maintaining energy security. Substantial funding for domestic energy infrastructure is enhancing the deployment of coiled tubing solutions, which are critical for well servicing, drilling, and intervention operations. Russia's commitment to sustaining and expanding energy output is making coiled tubing technology indispensable to its long-term strategy.
Key companies active in the Europe Coiled Tubing Market include Halliburton, TACROM, AnTech Ltd, MOL Group, Weatherford, Tenaris, Packer Service LLC, FracJet-Volga LLC, Oilserv, Stimline AS, Smith Gulf (GmbH), SLB, Hunting PLC, Surgutneftegas, ROSEN, GOES GmbH, Well Service Group, Baker Hughes, PETECS, and NOV. To strengthen their market position, companies in the Europe coiled tubing industry are focusing on expanding their service portfolios through advanced technologies that enhance operational efficiency, safety, and precision. Many are investing in digital solutions and automation to optimize interventions and improve offshore capabilities.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Research design
- 1.2 Market estimates & forecast parameters
- 1.3 Forecast calculation
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid
- 1.4.2.2 Public
- 1.5 Market definitions
Chapter 2 Executive Summary
- 2.1 Industry synopsis, 2021 - 2034
- 2.2 Business trends
- 2.3 Service trends
- 2.4 Application trends
- 2.5 Country trends
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.1.1 Raw material availability & sourcing analysis
- 3.1.2 Key factors affecting the value chain
- 3.1.3 Disruptions
- 3.2 Regulatory landscape
- 3.3 Industry impact forces
- 3.3.1 Growth drivers
- 3.3.2 Industry pitfalls & challenges
- 3.4 Growth potential analysis
- 3.5 Porter's analysis
- 3.5.1 Bargaining power of suppliers
- 3.5.2 Bargaining power of buyers
- 3.5.3 Threat of new entrants
- 3.5.4 Threat of substitutes
- 3.6 PESTEL analysis
- 3.6.1 Political factors
- 3.6.2 Economic factors
- 3.6.3 Social factors
- 3.6.4 Technological factors
- 3.6.5 Legal factors
- 3.6.6 Environmental factors
- 3.7 Cost structure breakdown of coiled tubing
- 3.8 Emerging opportunities & trends
- 3.8.1 Digital transformation with IoT technologies
- 3.8.2 Emerging market penetration
- 3.9 Investment analysis & future outlook
Chapter 4 Competitive Landscape, 2025
- 4.1 Introduction
- 4.2 Company market share analysis, by country, 2024
- 4.2.1 Russia
- 4.2.2 UK
- 4.2.3 Norway
- 4.2.4 Netherlands
- 4.3 Strategic initiatives
- 4.3.1 Key partnerships & collaborations
- 4.3.2 Major M&A activities
- 4.3.3 Key innovations & launches
- 4.3.4 Market expansion strategies
- 4.4 Competitive benchmarking
- 4.5 Strategic dashboard
- 4.6 Innovation & sustainability landscape
Chapter 5 Market Size and Forecast, By Service, 2021 - 2034 (USD Million)
- 5.1 Key trends
- 5.2 Well intervention
- 5.3 Well cleaning
- 5.4 Well completion
- 5.4.1 Fishing
- 5.4.2 Perforation
- 5.4.3 Logging
- 5.4.4 Others
- 5.5 Drilling
- 5.5.1 Managed pressure drilling
- 5.5.2 Directional drilling
Chapter 6 Market Size and Forecast, By Application, 2021 - 2034 (USD Million)
- 6.1 Key trends
- 6.2 Onshore
- 6.2.1 Well intervention
- 6.2.2 Well cleaning
- 6.2.3 Well completion
- 6.2.3.1 Fishing
- 6.2.3.2 Perforation
- 6.2.3.3 Logging
- 6.2.3.4 Others
- 6.2.4 Drilling
- 6.2.4.1 Managed pressure drilling
- 6.2.4.2 Directional drilling
- 6.3 Offshore
- 6.3.1 Shallow
- 6.3.1.1 Well intervention
- 6.3.1.2 Well cleaning
- 6.3.1.3 Well completion
- 6.3.1.3.1 Fishing
- 6.3.1.3.2 Perforation
- 6.3.1.3.3 Logging
- 6.3.1.3.4 Others
- 6.3.1.4 Drilling
- 6.3.1.4.1 Managed pressure drilling
- 6.3.1.4.2 Directional drilling
- 6.3.2 Deep
- 6.3.2.1 Well intervention
- 6.3.2.2 Well cleaning
- 6.3.2.3 Well completion
- 6.3.2.3.1 Fishing
- 6.3.2.3.2 Perforation
- 6.3.2.3.3 Logging
- 6.3.2.3.4 Others
- 6.3.2.4 Drilling
- 6.3.2.4.1 Managed pressure drilling
- 6.3.2.4.2 Directional drilling
- 6.3.3 Ultra-Deep
- 6.3.3.1 Well intervention
- 6.3.3.2 Well cleaning
- 6.3.3.3 Well completion
- 6.3.3.3.1 Fishing
- 6.3.3.3.2 Perforation
- 6.3.3.3.3 Logging
- 6.3.3.3.4 Others
- 6.3.3.4 Drilling
- 6.3.3.4.1 Managed pressure drilling
- 6.3.3.4.2 Directional drilling
- 6.3.1 Shallow
Chapter 7 Market Size and Forecast, By Country, 2021 - 2034 (USD Million)
- 7.1 Key trends
- 7.2 Russia
- 7.3 UK
- 7.4 Norway
- 7.5 Netherlands
Chapter 8 Company Profiles
- 8.1 AnTech Ltd
- 8.2 Baker Hughes
- 8.3 FracJet-Volga LLC
- 8.4 GOES GmbH
- 8.5 Halliburton
- 8.6 Hunting PLC
- 8.7 MOL Group
- 8.8 NOV
- 8.9 Oilserv
- 8.10 Packer Service LLC
- 8.11 PETECS
- 8.12 ROSEN
- 8.13 SLB
- 8.14 Smith Gulf (GmbH)
- 8.15 Stimline AS
- 8.16 Surgutneftegas
- 8.17 TACROM
- 8.18 Tenaris
- 8.19 Weatherford
- 8.20 Well Service Group
