Pune, India, Aug. 23, 2021 (GLOBE NEWSWIRE) -- As per the findings of the research literature, global coiled tubing market size was appraised USD 2985.67 million in 2020 and is slated to grow considerably during the forecast period 2021-2026.
Proceeding further, the research report determines the attractiveness of the market in terms of services, application, and geography. Moreover, it houses a competitive landscape section comprising of in-depth profiles on leading companies together with a breakdown of their strategies, so as to aid businesses in aligning their capabilities with the available opportunities in the marketplace. Additionally, the research literature identifies the growth pathways amid and post the Covid-19 pandemic.
Escalating demand for oil and natural gas coupled with improved feasibility of Deepwater and ultra-Deepwater activities will augment the industry growth in the upcoming years. Rising focus on offshore exploration projects due to frequent price regulations on oil will further create favorable conditions for business development.
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Besides, growing requirement for recoverable resources along with augmented production, exploration, and completion in the oil & gas sector will continue to support the market development. Further, high expenditure in global upstream and operational activities by NOCs and the integrated oil companies are expanding the business horizon.
Covid-19 impact overview
The unprecedented outbreak of the Covid-19 pandemic has affected various sectors of the global economy, including the manufacturing, oil & gas, automotive and power generation industries. Failed agreements on production due business uncertainty, temporary closure of industrial sites, and travel restrictions left the entire supply chain of the oil & gas industry in a disarray, in turn, hampered the worldwide coiled tubing industry demand.
Competitive dashboard outline
Nabors Industries Ltd., C&J Energy Services Inc., Trican Well Service Ltd., Superior Energy Services Inc., Calfrac Well Services Ltd., Archer, Weatherford International Plc, Baker Hughes Co., Halliburton Co., and Schlumberger Ltd. are the major contenders in this domain.
These companies are undertaking strategies such as new product development, partnerships, and mergers to grab a larger portion of the overall coiled tubing market share. For instance, Baker Hughes and Akastor ASA, in February 2021, announced a joint venture to merge Baker Hughes's Subsea Drilling Systems business and Akastor ASA subsidiary, MHWirth AS, to offer a broader portfolio of offshore drilling equipment to its customers.
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Global Coiled Tubing Market, by Services (Value, USD Million, 2016-2026)
- Drilling
- Well Intervention
Global Coiled Tubing Market, by Application (Value, USD Million, 2016-2026)
- Offshore
- Onshore
Global Coiled Tubing Market, by Geography (Value, USD Million, 2016-2026)
North America
- United States
- Canada
Europe
- Russia
- Norway
- United Kingdom
Asia Pacific
- China
- India
LAMEA
- Brazil
- Mexico
- Saudi Arabia
Global Coiled Tubing Market Competitive Dashboard (Value, USD Million, 2016-2026)
- Nabors Industries Ltd.
- C&J Energy Services Inc.
- Trican Well Service Ltd.
- Superior Energy Services Inc.
- Calfrac Well Services Ltd.
- Archer
- Weatherford International Plc
- Baker Hughes Co.
- Halliburton Co.
- Schlumberger Ltd.
Table of Content:
1. Report Scope and Methodology
1.1 Scope of the Report
1.2 Research Methodology
1.3 Executive Summary
2. Strategic Recommendations
3. Coiled Tubing Market: Product Overview
4. Global Coiled Tubing Market: An Analysis
4.1 Market Size, By Value, Year 2016-2026
4.2 Market Size, By Volume, Year 2016-2026
4.3 Impact of COVID-19 on Coiled Tubing Market
4.4 Global Coiled Tubing Market: Growth & Forecast
5. Global Coiled Tubing Market Segmentation, By Services
5.1 Global Coiled Tubing Market: Segment Analysis
5.2 Competitive Scenario of Coiled Tubing Market: By Services (2020 & 2026)
5.3 By Well Intervention- Market Size and Forecast (2016-2026)
5.4 By Drilling- Market Size and Forecast (2016-2026)
5.5 By Completion- Market Size and Forecast (2016-2026)
6. Global Coiled Tubing Market Segmentation, By Application
6.1 Global Coiled Tubing Market: Segment Analysis
6.2 Competitive Scenario of Global Coiled Tubing Market: By Application (2020 & 2026)
6.3 By Onshore- Market Size and Forecast (2016-2026)
6.4 By Offshore- Market Size and Forecast (2016-2026)
7. Global Coiled Tubing Market: Regional Analysis
7.1 Competitive Scenario of Global Coiled Tubing Market: By Region (2020 & 2026)
8. North America Coiled Tubing Market: An Analysis
8.1 North America Coiled Tubing Market by value: Size and Forecast (2016-2026)
8.2 North America Coiled Tubing Market by volume: Size and Forecast (2016-2026)
8.3 North America Coiled Tubing Market: Prominent Companies
8.4 Market Segmentation By Service (Well Intervention, Drilling, Completion)
8.5 Market Segmentation By Application (Onshore, Offshore)
9. Europe Coiled Tubing Market: An Analysis
9.1 Europe Coiled Tubing Market by value: Size and Forecast (2016-2026)
9.2 Europe Coiled Tubing Market by volume: Size and Forecast (2016-2026)
9.3 Europe Coiled Tubing Market: Prominent Companies
9.4 Market Segmentation By Service (Well Intervention, Drilling, Completion)
9.5 Market Segmentation By Application (Onshore, Offshore)
10. Asia Pacific Coiled Tubing Market: An Analysis
10.1 Asia Pacific Coiled Tubing Market by value: Size and Forecast (2016-2026)
10.2 Asia Pacific Coiled Tubing Market by volume: Size and Forecast (2016-2026)
10.3 Asia Pacific Coiled Tubing Market: Prominent Companies
10.4 Market Segmentation By Service (Well Intervention, Drilling, Completion)
10.5 Market Segmentation By Application (Onshore, Offshore)
11. LAMEA Coiled Tubing Market: An Analysis
11.1 LAMEA Coiled Tubing Market by value: Size and Forecast (2016-2026)
11.2 LAMEA Coiled Tubing Market by volume: Size and Forecast (2016-2026)
11.3 LAMEA Coiled Tubing Market: Prominent Companies
11.4 Market Segmentation By Service (Well Intervention, Drilling, Completion)
11.5 Market Segmentation By Application (Onshore, Offshore)
12. Global Coiled Tubing Market Dynamics
12.1 Global Coiled Tubing Market Drivers
12.2 Global Coiled Tubing Market Restraints
12.3 Global Coiled Tubing Market Trends
13. Market Attractiveness and Strategic Analysis
13.1 Market Attractiveness Chart of Global Coiled Tubing Market - By Services (Year 2026)
13.2 Market Attractiveness Chart of Global Coiled Tubing Market - By Application (Year 2026)
13.3 Market Attractiveness Chart of Global Coiled Tubing Market - By Region (Year 2026)
14. Competitive Landscape
14.1 Market Share of global leading companies
14.2 SWOT Analysis- Global Coiled Tubing Market
14.3 Porter Five Force Analysis- Global Coiled Tubing Market
15. Global Coiled Tubing Market: Merger & Acquisitions
16. Company Profiles (Business Description, Financial Analysis, Business Strategy)
Related Report:
Coiled Tubing Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2020 - 2026
Global Coiled Tubing Market will witness an annual deployment of over 2,500 coiled tubing units by 2026. Shifting focus toward the adoption of new drilling techniques to stimulate well operations will positively influence industry growth over the forecast period. The demand for coiled tubing across onshore application will witness a substantial surge with growing concerns towards enhancing the ongoing production index. In addition, soaring E&P investments to exploit unconventional hydrocarbon resources will augment the technology deployment over the forecast period. Increasing energy requirement with the growing penetration of the mature oil fields will drive the global coiled tubing market. Rising penetration of mature shallow water projects coupled with declining technology cost will further stimulate the product adoption over the forecast timeline.
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