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.
Full research report on coiled tubing (CT) market analysis: http://www.grandviewresearch.com/industry-analysis/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 in terms of coiled tubing unit was
the major 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.
View more reports
of this category by Grand View Research at: https://www.grandviewresearch.com/industry/oil-and-gas-drilling-and-extraction-equipments
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
o Well Completion
o Well Cleaning
o 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
Access Full Press Release of this
Report:
https://www.grandviewresearch.com/press-release/global-coiled-tubing-ct-market
https://www.grandviewresearch.com/press-release/global-coiled-tubing-ct-market
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, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
