Market Analysis and Insights: Global Coiled Tubing Services Market

Coiled tubing refers to a continuous length of small-diameter steel pipe and related surface equipment as well as associated drilling, completion and workover, or remediation, techniques. Coiled tubing oilfield technology was initially developed for working on live, producing wells.

Coiled tubing technology is frequently used to deploy tools and materials through production tubing or casing while remedial work is performed on producing wells. Coiled tubing fulfills three key requirements for downhole operations on live wells by providing a dynamic seal between the formation pressure and the surface, a continuous conduit for fluid conveyance and a method for running this conduit in and out of a pressurized well.

Coiled tubing strength and rigidity, combined with its capability to circulate treatment fluids, offer distinct advantages in workover operations. In addition to drilling and completion operations, oil and gas companies are using coiled tubing to help fish for lost equipment and for conveying well logging tools.

Due to the COVID-19 pandemic, the global Coiled Tubing Services market size is estimated to be worth US$ 4714 million in 2022 and is forecast to a readjusted size of US$ 7867.1 million by 2029 with a CAGR of 7.5% during the forecast period 2023-2029. Fully considering the economic change by this health crisis, Well Intervention accounting for % of the Coiled Tubing Services global market in 2022, is projected to value US$ million by 2029, growing at a revised % CAGR from 2023 to 2029. While Onshore segment is altered to an % CAGR throughout this forecast period.

Global Coiled Tubing Services key players include Schlumberger, Halliburton, Baker Hughes (GE), etc. Global top three manufacturers hold a share about 60%.

North America is the largest market, with a share about 50%, followed by South America, and Europe, both have a share over 20 percent.

In terms of product, Well Intervention is the largest segment, with a share over 65%. And in terms of application, the largest application is Onshore, followed by Offshore.

Global Coiled Tubing Services Scope and Market Size

The global Coiled Tubing Services market is segmented by company, region (country), by Type and by Application. Players, stakeholders, and other participants in the global Coiled Tubing Services market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on sales, revenue and forecast by region (country), by Type and by Application for the period 2018-2029.


Segment by Type


Well Intervention

Drilling

Others


Segment by Application


Onshore

Offshore

By Region

United States

Europe

China

Japan

Southeast Asia

India

Other Regions


By Company


Schlumberger

Halliburton

Baker Hughes (GE)

Weatherford

Superior Energy

Archer

Calfrac Well Services

Cudd Energy Services (RPC)

National Oilwell Varco

Pioneer Energy Services

PT Elnusa Tbk

Legend Energy

Smape S.r.l.

Jereh Group