Market Research Report
Coiled Tubing - Global Market Outlook (2020-2028)
|Coiled Tubing - Global Market Outlook (2020-2028)|
Published: July 1, 2021
Stratistics Market Research Consulting
Content info: 150+ Pages
Delivery time: 2-3 business days
According to Stratistics MRC, the Global Coiled Tubing Market is accounted for $3.00 billion in 2020 and is expected to reach $5.47 billion by 2028 growing at a CAGR of 7.8% during the forecast period. Factors such as upsurge in production of conventional energy resource, increasing investments in offshore oil & gas industry, and advancements in shale oil extraction are driving the growth of the market. However, regulations associated with operational safety are hampering the growth of the market.
Coiled tubing (CT) is a long metal pipe spooled over a large reel and is primarily used to perform workover & repair activities across well sites. There are no joints & cuts in the coiled tube, making it more effective for well boreholes with a depth of over 15,000 feet. In several regions, it is often used to carry out operations similar to wirelining.
Based on the location, the onshore segment is anticipated to expand at a rapid pace during the forecast period owing to the development of domestic shale gas and tight oil reserves. By geography, North America is going to have high growth during the forecast period which can be attributed to the growth in unconventional resources in the US and Canada.
Some of the key players profiled in the Coiled Tubing Market include Weatherford, Trican, Superior Energy Services, Baker Hughes Company, National Energy Services Reunited, RPC Inc., Pioneer Energy Services, Oilserv, STEP Energy Services, Nine Energy Services, Schlumberger, Legend Energy Services, Key Energy Services, Halliburton, Calfrac Well Services, Basic Energy Services, Oceaneering International, Altus Intervention, and NexTier Oilfield Solutions.
Product Types Covered:
Tubing Fleets Covered:
End Users Covered:
Sales Channels Covered:
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Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.