The global coiled tubing (CT) market is expected to reach USD 4.9 billion
by 2025, according to a new report by Grand View Research, Inc. Globally,
declining oil production and increasing number of exploration & production
activities are anticipated to drive the market growth in the next eight years.
In addition, a shift in the trend for developing unconventional oil blocks
globally, will boost the market demand.
Regulations in countries enhancing exploration & production
activities will be a supporting factor for the market growth. Favorable
initiatives by Chinese and the U.S. governments in the form of relaxed
provision of FDI, tax incentives, and other financial aids is estimated to back
up the industry growth. However, public concerns and several bans concerning
harmful impacts of the technology mainly in countries such as South Africa,
France, Tunisia, Romania, and Bulgaria are anticipated to remain key challenges
for the industry players over the next few years.
Well intervention is a major service provided by CT technology. the
service is carried out in to extend the life of a producing well by improving
its performance. Some of the well intervention service includes well
completion, well cleaning, and wireline. Sand clean out is the most common well
intervention application. It is a complex process and requires pumping a fluid
or gasses into the well.
In depth research report on Coiled Tubing (CT)
Market
Further key findings from the report suggest:
·
The global
coiled tubing market was worth USD 3.25 billion in 2015. The market is expected
to grow at a CAGR of 5.1% from 2017 to 2025
·
Pumping was
the major operation segment in the year 2016 and is expected to grow at a CAGR
of 3.9% from 2017 to 2025
·
Circulation
operational segment is expected to be the fastest-growing segment over the
forecast period
·
Offshore
segment is expected to be the fastest growing segment, owing to newly
discovered oil wells in the deep waters
·
North America
was the largest market in 2015. It is expected to gain share on account of
increasing E&P activities, particularly in the deep sea.
·
Asia Pacific
market is expected to grow at a CAGR of 5.8% from 2017 to 2025, owing to
favorable government regulations and rising foreign investment in the region
·
Market is
moderately consolidated and experiences the presence of giant and large
companies across the value chain
·
Schlumberger,
Baker Hughes, Halliburton, Weatherford International Inc, Archer Limited,
Calfrac Well Services Ltd, Cudd Energy Services, Superior Energy Services Inc.,
Trican Well Service Ltd., and C&J Energy Services, Inc. are the prime
companies operating in the market.
For the purpose of this report, Grand View Research has segmented the
global coiled tubing market on the basis of Service, operation, application and
region:
Coiled Tubing Services Outlook (Volume, Units;
Revenue, USD Million, 2014 - 2025)
·
Well
Intervention
·
Well
Completion
·
Well Cleaning
·
Others
·
Drilling
·
Others
Coiled Tubing Operation Outlook (Volume,
Units; Revenue, USD Million, 2014 - 2025)
·
Circulation/Deliquification
·
Pumping
·
Logging
·
Perforation
·
Others
Coiled Tubing Application Outlook (Volume,
Units; Revenue, USD Million, 2014 - 2025)
·
Onshore
·
Offshore
Coiled Tubing Regional Outlook (Volume, Units;
Revenue, USD Million, 2014 - 2025)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
UK
o
Russia
o
Poland
·
Asia Pacific
o
China
o
Australia
·
Central &
South America
o
Argentina
o
Brazil
·
Middle East
& Africa
o
South Africa
o
UAE
o
Algeria
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed business
decisions, the company offers market intelligence studies ensuring relevant and
fact-based research across a range of industries including technology,
chemicals, materials, healthcare and energy.
For more market analysis reports, please
visit: http://www.grandviewresearch.com/
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