Coiled Tubing Market Insights and Growth by 2031
The Coiled Tubing Market is expected to register a CAGR of 5.2% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Service (Well Intervention, Drilling, Others). The report further presents analysis based on the Application (Onshore, Offshore). The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Coiled Tubing Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Coiled Tubing Market Segmentation
Service- Well Intervention
- Drilling
- Others
- Onshore
- Offshore
Strategic Insights
Coiled Tubing Market Growth Drivers- Increasing Oil and Gas Exploration Activities: The resurgence of oil and gas exploration and production activities, particularly in unconventional reserves, is a significant driver for the coiled tubing market. Coiled tubing provides an efficient solution for drilling, completion, and workover operations, enabling operators to access challenging reservoirs and enhance production rates.
- Technological Advancements in Coiled Tubing Equipment: Continuous advancements in coiled tubing technology, such as enhanced materials, improved design, and better deployment systems, are driving market growth. These innovations improve the efficiency and reliability of coiled tubing operations, making it a preferred choice for various applications in the oil and gas industry.
- Integration of Digital Technologies: The integration of digital technologies, such as IoT and data analytics, into coiled tubing operations is a prominent trend. These technologies enable real-time monitoring, predictive maintenance, and data-driven decision-making, enhancing operational efficiency and safety in coiled tubing applications.
- Development of Lightweight and High-Strength Materials: The trend towards developing lightweight and high-strength materials for coiled tubing is gaining traction. These materials enhance the durability and performance of coiled tubing while reducing operational costs, enabling operators to tackle challenging environments more effectively.
- Technological Innovations in Coiled Tubing Equipment: Continued investment in research and development can lead to innovative coiled tubing technologies and applications. By focusing on advancements such as improved deployment systems and enhanced material properties, companies can differentiate their offerings and capture market share.
- Growth in Unconventional Resource Development: The increasing focus on unconventional resource development, such as shale gas and tight oil, presents significant opportunities for the coiled tubing market. Coiled tubing technology is well-suited for the unique challenges associated with these resources, driving demand for efficient solutions.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Coiled Tubing Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Coiled Tubing Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Have a question?
Naveen
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The Coiled Tubing Market is estimated to witness a CAGR of 5.2% from 2023 to 2031
The major factors driving the Coiled Tubing Market are: Increase in energy demand across the globe and Increasing Oil & Gas Exploration and Production Activities Across the Globe
Growing Developments in the Offshore Gas Industry is the key future trend of the Coiled Tubing Market
The leading players operating in the Coiled Tubing Market include Altus Intervention, Baker Hughes, Halliburton Energy Services, Inc., Legend Energy Services LLC, Nine Energy Service, National Oilwell Varco, Tenaris, Schlumberger Limited, STEP Energy Services, Trican Well Service Ltd.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on the request are an additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Coiled Tubing Market - By Service
1.3.2 Coiled Tubing Market - By Application
1.3.3 Coiled Tubing Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. COILED TUBING MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. COILED TUBING MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. COILED TUBING MARKET - GLOBAL MARKET ANALYSIS
6.1. COILED TUBING - GLOBAL MARKET OVERVIEW
6.2. COILED TUBING - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. COILED TUBING MARKET - REVENUE AND FORECASTS TO 2028 - SERVICE
7.1. OVERVIEW
7.2. SERVICE MARKET FORECASTS AND ANALYSIS
7.3. DRILLING
7.3.1. Overview
7.3.2. Drilling Market Forecast and Analysis
7.4. WELL INTERVENTION
7.4.1. Overview
7.4.2. Well Intervention Market Forecast and Analysis
7.5. OTHERS
7.5.1. Overview
7.5.2. Others Market Forecast and Analysis
8. COILED TUBING MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. ONSHORE
8.3.1. Overview
8.3.2. Onshore Market Forecast and Analysis
8.4. OFFSHORE
8.4.1. Overview
8.4.2. Offshore Market Forecast and Analysis
9. COILED TUBING MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Coiled Tubing Market Overview
9.1.2 North America Coiled Tubing Market Forecasts and Analysis
9.1.3 North America Coiled Tubing Market Forecasts and Analysis - By Service
9.1.4 North America Coiled Tubing Market Forecasts and Analysis - By Application
9.1.5 North America Coiled Tubing Market Forecasts and Analysis - By Countries
9.1.5.1 United States Coiled Tubing Market
9.1.5.1.1 United States Coiled Tubing Market by Service
9.1.5.1.2 United States Coiled Tubing Market by Application
9.1.5.2 Canada Coiled Tubing Market
9.1.5.2.1 Canada Coiled Tubing Market by Service
9.1.5.2.2 Canada Coiled Tubing Market by Application
9.1.5.3 Mexico Coiled Tubing Market
9.1.5.3.1 Mexico Coiled Tubing Market by Service
9.1.5.3.2 Mexico Coiled Tubing Market by Application
9.2. EUROPE
9.2.1 Europe Coiled Tubing Market Overview
9.2.2 Europe Coiled Tubing Market Forecasts and Analysis
9.2.3 Europe Coiled Tubing Market Forecasts and Analysis - By Service
9.2.4 Europe Coiled Tubing Market Forecasts and Analysis - By Application
9.2.5 Europe Coiled Tubing Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Coiled Tubing Market
9.2.5.1.1 Germany Coiled Tubing Market by Service
9.2.5.1.2 Germany Coiled Tubing Market by Application
9.2.5.2 France Coiled Tubing Market
9.2.5.2.1 France Coiled Tubing Market by Service
9.2.5.2.2 France Coiled Tubing Market by Application
9.2.5.3 Italy Coiled Tubing Market
9.2.5.3.1 Italy Coiled Tubing Market by Service
9.2.5.3.2 Italy Coiled Tubing Market by Application
9.2.5.4 United Kingdom Coiled Tubing Market
9.2.5.4.1 United Kingdom Coiled Tubing Market by Service
9.2.5.4.2 United Kingdom Coiled Tubing Market by Application
9.2.5.5 Russia Coiled Tubing Market
9.2.5.5.1 Russia Coiled Tubing Market by Service
9.2.5.5.2 Russia Coiled Tubing Market by Application
9.2.5.6 Rest of Europe Coiled Tubing Market
9.2.5.6.1 Rest of Europe Coiled Tubing Market by Service
9.2.5.6.2 Rest of Europe Coiled Tubing Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Coiled Tubing Market Overview
9.3.2 Asia-Pacific Coiled Tubing Market Forecasts and Analysis
9.3.3 Asia-Pacific Coiled Tubing Market Forecasts and Analysis - By Service
9.3.4 Asia-Pacific Coiled Tubing Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Coiled Tubing Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Coiled Tubing Market
9.3.5.1.1 Australia Coiled Tubing Market by Service
9.3.5.1.2 Australia Coiled Tubing Market by Application
9.3.5.2 China Coiled Tubing Market
9.3.5.2.1 China Coiled Tubing Market by Service
9.3.5.2.2 China Coiled Tubing Market by Application
9.3.5.3 India Coiled Tubing Market
9.3.5.3.1 India Coiled Tubing Market by Service
9.3.5.3.2 India Coiled Tubing Market by Application
9.3.5.4 Japan Coiled Tubing Market
9.3.5.4.1 Japan Coiled Tubing Market by Service
9.3.5.4.2 Japan Coiled Tubing Market by Application
9.3.5.5 South Korea Coiled Tubing Market
9.3.5.5.1 South Korea Coiled Tubing Market by Service
9.3.5.5.2 South Korea Coiled Tubing Market by Application
9.3.5.6 Rest of Asia-Pacific Coiled Tubing Market
9.3.5.6.1 Rest of Asia-Pacific Coiled Tubing Market by Service
9.3.5.6.2 Rest of Asia-Pacific Coiled Tubing Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Coiled Tubing Market Overview
9.4.2 Middle East and Africa Coiled Tubing Market Forecasts and Analysis
9.4.3 Middle East and Africa Coiled Tubing Market Forecasts and Analysis - By Service
9.4.4 Middle East and Africa Coiled Tubing Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Coiled Tubing Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Coiled Tubing Market
9.4.5.1.1 South Africa Coiled Tubing Market by Service
9.4.5.1.2 South Africa Coiled Tubing Market by Application
9.4.5.2 Saudi Arabia Coiled Tubing Market
9.4.5.2.1 Saudi Arabia Coiled Tubing Market by Service
9.4.5.2.2 Saudi Arabia Coiled Tubing Market by Application
9.4.5.3 U.A.E Coiled Tubing Market
9.4.5.3.1 U.A.E Coiled Tubing Market by Service
9.4.5.3.2 U.A.E Coiled Tubing Market by Application
9.4.5.4 Rest of Middle East and Africa Coiled Tubing Market
9.4.5.4.1 Rest of Middle East and Africa Coiled Tubing Market by Service
9.4.5.4.2 Rest of Middle East and Africa Coiled Tubing Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Coiled Tubing Market Overview
9.5.2 South and Central America Coiled Tubing Market Forecasts and Analysis
9.5.3 South and Central America Coiled Tubing Market Forecasts and Analysis - By Service
9.5.4 South and Central America Coiled Tubing Market Forecasts and Analysis - By Application
9.5.5 South and Central America Coiled Tubing Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Coiled Tubing Market
9.5.5.1.1 Brazil Coiled Tubing Market by Service
9.5.5.1.2 Brazil Coiled Tubing Market by Application
9.5.5.2 Argentina Coiled Tubing Market
9.5.5.2.1 Argentina Coiled Tubing Market by Service
9.5.5.2.2 Argentina Coiled Tubing Market by Application
9.5.5.3 Rest of South and Central America Coiled Tubing Market
9.5.5.3.1 Rest of South and Central America Coiled Tubing Market by Service
9.5.5.3.2 Rest of South and Central America Coiled Tubing Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. COILED TUBING MARKET, KEY COMPANY PROFILES
11.1. ALTUS INTERVENTION
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. BAKER HUGHES, A GE COMPANY LLC
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. CALFRAC WELL SERVICES LTD.
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. HALLIBURTON ENERGY SERVICES, INC.
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. LEGEND ENERGY SERVICES LLC
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. OCEANEERING INTERNATIONAL, INC.
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. PIONEER ENERGY SERVICES CORP.
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. SCHLUMBERGER LIMITED
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. STEP ENERGY SERVICES
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. TRICAN WELL SERVICE LTD.
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. Altus Intervention
2. Baker Hughes, a GE Company LLC
3. Calfrac Well Services Ltd.
4. Halliburton Energy Services, Inc.
5. Legend Energy Services LLC
6. Oceaneering International, Inc.
7. Pioneer Energy Services Corp.
8. Schlumberger Limited
9. STEP Energy Services
10. Trican Well Service Ltd.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Get Free Sample For