Coiled tubing market is anticipated to grow at a CAGR of 4.7% during the forecast period (2024-2031). Coiled tubing is a long material pipe and surface equipment that was originally intended to be used in the producing of (live) wells. The use of coiled tubing has expanded beyond traditional applications such as well cleaning and acid stimulation.
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The offshore oil and gas sector’s expansion, particularly into deep and ultra-deepwater regions, is a significant growth driver for the coiled tubing market. Coiled tubing units, known for their versatility in well interventions, drilling operations, and production enhancement techniques, are increasingly utilized in offshore environments. This trend is fueled by the ongoing exploration and development of offshore fields, where coiled tubing’s capabilities are critical for the success of such ventures. The demand for coiled tubing services in offshore settings is poised for growth, reflecting the industry’s push toward exploring new frontiers and maximizing the yield from these challenging environments. As offshore exploration and production activities continue to advance, the reliance on coiled tubing services is expected to rise, further stimulating market growth.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Coiled Tubing Market by Operation
- Pumping
- Circulation
- Logging
- Perforation
Global Coiled Tubing Market by Application
- Onshore
- Offshore
Global Coiled Tubing Market by Service
- Well Intervention
- Drilling
- Completion
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Altus Intervention
- Basic Energy Services Inc.
- Forum Energy Technologies Inc.
- Halliburton Company
- HandyTube Corp.
- Key Energy Services, LLC,
- NexTier Oilfield Solutions Inc.
- Oceaneering International, Inc.
- RPC Inc.
- Sandvik AB
- STEP ENERGY SERVICES
- Superior Energy Services Inc.
- Tenaris SA
- Trican Well Service Ltd
- Trident Steel Corp.
- Webco Industries
- Yantai Jereh Petroleum Equipment and Technologies Co. Ltd.
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global coiled tubing market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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