Coiled Tubing in Oil and Gas Global Market – Overview
Coiled tubing is a time and cost-effective solution for well intervention operations. Coiled tubing is a technology in which coiled tube is inserted into the tubing against the pressure of the well and during production instead of removing the tubing from the well. Increasing operating cost for extracting oil from existing wells and regeneration of matured oil wells are the major factors for the growth of various oil recovering techniques. The Global Coiled Tubing In Oil & Gas Market was valued at US$ 3465.6 Mn in 2020 and is expected to reach US$ 4800.0 Mn by 2030.
Competitive Outlook: Baker Hughes Inc., Halliburton Co., Nabors Industries Ltd (Bermuda), Schlumberger, Weatherford International Inc., C & J Energy Services, Inc., Calfrac Well Services Ltd, Archer Limited, Key Energy Services Inc., RPC Inc., Trican Well Service Ltd, amongst others
Focus of the report
- CAGR values in the market for the forecast period
- Key trends in the market place
- Major players and brands
- Historical and current market size and projection up to 2030.
- Detailed overview of parent market
- Changing market dynamics of the industry
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Coiled Tubing in Oil & Gas Market, by Services
By services, coiled tubing in oil and gas market is bifurcated into well intervention, well completion, well cleaning, drilling, others. Mounting demand of these services is projected to drive the global coiled tubing market in future. Among which demand for well intervention services is increasing. Well intervention services are rendered to prevent unanticipated problems in the on-going production operations. Problems such as variations in production characteristics, failure of mechanical equipment, plugging and increases in injection pressure are handled by these services. These services aim to improve production from an oil well and are carried out during the whole life of an oil well.
Coiled Tubing in Oil & Gas Market, by Region
On the regional front North America is projected to be the largest market for coiled tubing as awareness regarding benefits of this technology is increasing as well as other world markets are likely to increase their demand for coiled tubing. United States is considered to be the ground for new technology, with a consequential large build-up of coiled tubing units. Furthermore, the coiled tubing services market in the United States is primarily driven by increased drilling activities, new offshore projects and redevelopment of matured fields.
Why Buy this Report?
- Extensive analysis on latest trends and growth opportunities in different regions across the globe
- Comprehensive assessment on recent technological advancements and forecast of the upcoming period
- A comparative analysis of leading players and emerging players in the Coiled Tubing in Oil and Gas market
- Authentic information on new product launches, organic and inorganic strategies, and more
- Valuable insights on the impact of regulatory framework on the global Coiled Tubing in Oil and Gas market
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