Coiled Tubing Market Projected to Reach USD 5.88 Billion, with a CAGR of 6.11% by 2030 – Report by Market Research Future (MRFR)

Coiled Tubing Market Growth Boost by Increasing Exploration & Production Activities for Discoveries and Rising Demand For Well Intervention Operations


New York, US, May 02, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Report by MRFR/Market Research Future (MRFR), “Coiled Tubing Market Research Report Information by Service Type, Region, and Application - Forecast Till 2030”, the global Coiled Tubing market is predicted to bolter substantially during the review era from 2022 to 2030 at a substantial growth rate of around 6.11%. The reports further predict the market will acquire nearly USD 5.88 Billion by the end of 2030. As per the documents, the Coiled Tubing market was valued at nearly USD 3.18 Billion in 2022.

Coiled Tubing Industry Overview:  

The global Coiled Tubing industry has lately demonstrated immense development. The primary parameter causing a surge in the performance of the market is the rising demand for well-intervention operations. Furthermore, the growing efforts by upstream companies to boost production from mature fields are also considered a crucial parameter supporting the global market's development. Moreover, the escalating demand for well-intervention operations is also predicted to enhance the performance of the market over the assessment period. In addition, the factors such as high expenditure in upstream & operational activities, growing demand for oil & gas, growing exploration & production activities for discoveries, advancements in exploration technology, the financial feasibility of exploration operations, and dwindling oil reserves in shallow water are also projected to catalyze the performance of the market over the review timeframe.

Competitive Analysis

The listing of the prominent leaders across the global Coiled Tubing market includes players such as:

  • Schlumberger
  • Step Energy Services Ltd
  • Halliburton
  • RPC Inc
  • Weatherford
  • Calfrac Well Services Ltd
  • Baker Hughes
  • Trican
  • GE Company
  • C&J Energy Services Inc
  • Nabors Industries Ltd
  • Among others.


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Market USP Covered

Market Drivers

The global Coiled Tubing industry has lately demonstrated immense development. The primary parameter causing a surge in the performance of the market is the rising demand for well-intervention operations. Furthermore, the growing efforts by upstream companies to boost production from mature fields are also considered a crucial parameter supporting the global market's development. Moreover, the escalating demand for well-intervention operations is also predicted to enhance the performance of the market over the assessment period. In addition, the factors such as high expenditure in upstream & operational activities, growing demand for oil & gas, growing exploration & production activities for discoveries, advancements in exploration technology, the financial feasibility of exploration operations, and dwindling oil reserves in shallow water are also projected to catalyze the performance of the market over the review timeframe.

Report Scope:

Report Metrics Details
Market Size 2030 2030: USD 5.88 Billion
CAGR during 2022-2030 6.11% CAGR
Base Year 2021
Forecast 2022-2030
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Service Type, Application, and Region
Key Market Opportunities Increasing demand for conventional fuels from developing economics
Key Market Dynamics Rising demand for well-intervention operations


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Market Restraints

On the contrary, some parameters may restrict the market's development. The main parameter limiting the market's development is the high costs associated.

COVID-19 Impact

The COVID-19 pandemic has had a massive impact on several industry areas worldwide. The Coiled Tubing market is no different than others. The market experienced a tremendous setback during the pandemic, given the halt of several industrial operations and manufacturing activities. However, with the world recovering from the impact caused by the global health hazard, the market is anticipated to grow considerably over the coming years.

Segment Analysis

Among all the service types, the Well intervention segment secured the top globally for coiled Tubing in 2021. The increasing number of aging wells is the primary parameter causing a surge in the segment's performance. The segment is divided into good cleaning, well completion, and others, including circulation, pumping, well stimulation, and well perforation.

Among all the application areas, the Onshore segment ensured the top position across the global Coiled Tubing market in 2021. The primary parameter causing a surge in the segment's performance is using smaller service rigs and mobile, self-contained coiled tubing rigs for light operations. Moreover, the increase in shale gas exploration, particularly in the US, and the rise in drilling activities will likely enhance the segment's performance over the coming years.

Regional Analysis

The global Coiled Tubing market is studied across five major parts: Asia-Pacific, Europe, North America, Latin America, and Middle & Africa.

The research reports by MRFR suggest that the North American region held the top position across the global Coiled Tubing industry in 2021 mainly because of the increase in unconventional resources in the US and Canada. Furthermore, the demand for coiled tubing operations in offshore fields in the Gulf of Mexico and some offshore fields in the US is also likely to enhance the performance of the regional market over the coming years.


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The Asia-Pacific regional Coiled Tubing market is anticipated to showcase considerable development over the coming years, given mainly to the demand for oil and gas from growing nations like China, Vietnam, and India.

The European region is anticipated to grow rapidly across the global Coiled Tubing market is anticipated to grow rapidly over the coming years owing to the factors such as changing energy balance and the use of renewable energy.

Related Reports:

Well Intervention Market Information Report by Service, By Application and By Region - Forecast To 2030

Well Completion Market Research by Operations, by type, by well type and by Region – Forecast till 2030

Well Logging Tools Market Research Report Information by Technology, Well type, End-Use and Region - Forecast till 2030

Well Test Market Information Report by Well Type, by Services and by Region - Global Forecast to 2030

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