$4 Billion Worldwide Coiled Tubing Industry to 2025 - Featuring Halliburton, Schlumberger & Baker Hughes Among Others

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Aug 24, 2020, 15:00 ET

DUBLIN, Aug. 24, 2020 /PRNewswire/ -- The "Coiled Tubing Market by Fleet (Operator, Region), Service (Well Intervention Service (Well Completions & Mechanical Operations, Well Cleaning & Pumping Operations) Drilling Service, Others), Application (Onshore, Offshore), Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.

The global coiled tubing market size is projected to reach USD 4.0 billion by 2025, from an estimated USD 3.0 billion in 2020, growing at a post COVID-19 CAGR of 5.8% during the forecast period.

The global coiled tubing industry is driven mainly by the growing demand for well intervention operations, redevelopment of mature fields, and advancements in shale developments. The increasing demand for larger diameter coiled tubing and the evolution of intelligent coiled tubing units are likely to offer lucrative opportunities for the market players over the next five years.

The onshore segment, by application, is expected to be the fastest-growing market from 2020 to 2025

The coiled tubing market is witnessing high demand from onshore applications as new well drilling activities are rising in onshore locations at a faster pace than in the offshore fields. Also, most of the onshore fields in the Middle East and North America are in their declining phase, where pumping operations and mechanical operations performed through coiled tubing can improve the production from reservoirs.

Additionally, the development of domestic shale gas and tight oil reserves drive the major surge in crude oil and natural gas production in North America. This has resulted in the improved efficiency of the operations for increasing production from oil & gas wells. This increase in well intervention activities leads to a rise in coiled tubing operations in onshore wells.

North America: The largest and the fastest-growing region in the global coiled tubing market.

North America is expected to dominate the global coiled tubing market between 2020 and 2025. The North American oil production is rising drastically, with a growth rate of 7.7% from 2017 to 2018. Moreover, the continuous shale activities in the region are driving the demand for well intervention operations. The upstream operators, such as Total, ExxonMobil, Chevron, and Apache, also have a significant presence in North America. This creates more opportunities for oilfield service providers to capture long-term contracts.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary
3.1 Pre- and Post-Covid-19 Scenario Analysis

4 Premium Insights
4.1 Attractive Opportunities in the Coiled Tubing Market
4.2 Coiled Tubing Market, by Service
4.3 Coiled Tubing Market, by Application
4.4 Coiled Tubing Market, by Region
4.5 North American Coiled Tubing Market, by Application & Country

5 Market Overview
5.1 Introduction
5.2 Covid-19 Health Assessment
5.3 Road to Recovery
5.4 Covid-19 Economic Assessment
5.5 Market Dynamics
5.5.1 Drivers
5.5.1.1 Growing Demand for Well Intervention Operations is Driving the Coiled Tubing Market
5.5.1.2 Redevelopment of Mature Oilfields Demands Coiled Tubing Units for Production Enhancement
5.5.1.3 Advancements in Shale Oil Extraction Require More Coiled Tubing Operations
5.5.1.4 Rising Primary Energy Consumption from Asia-Pacific Will Boost the Coiled Tubing Market in the Region
5.5.2 Restraints
5.5.2.1 Risks Associated With Coiled Tubing Operations and Regulations Associated With Operational Safety Are Restraining the Market Growth
5.5.2.2 Wireline Operations, Which Are a Cheaper Substitute of Coiled Tubing Operations, Hinder the Growth of the Coiled Tubing Market
5.5.3 Opportunities
5.5.3.1 Increasing Exploration & Production Activities from New Discoveries Offer Lucrative Opportunities for the Coiled Tubing Market
5.5.3.2 Evolution of Intelligent Coiled Tubing Technologies
5.5.4 Challenges
5.5.4.1 Challenging Coiled Tubing Operations in Offshore Well Interventions & Drilling Pose Challenges for the Coiled Tubing Market
5.5.4.2 Impact of Covid-19 on Oil and Gas Production Activities
5.6 Adjacent and Interconnected Markets

6 Coiled Tubing Market, by Service
6.1 Introduction
6.2 Well Intervention
6.2.1 Well Completions & Mechanical Operations
6.2.1.1 Increasing Concerns for Improving Well Accessibility and Enhancing Production Are Expected to Drive the Well Completions & Mechanical Operations Market
6.2.2 Well Cleaning & Pumping Operations
6.2.2.1 Optimization of Mature Oil & Gas Reservoirs Drives the Demand for Well Cleaning & Pumping Operations
6.3 Drilling
6.3.1 Multilateral Well Drilling is Driving the Coiled Tubing Drilling Market
6.4 Others

7 Coiled Tubing Market, by Application
7.1 Introduction
7.2 Onshore
7.2.1 Onshore Shale Development in North America and Higher Number of Mature Onshore Oilfields in the Middle East Are Likely to Provide Opportunities for Coiled Tubing Service Providers
7.3 Offshore
7.3.1 Greater Logistical and Operational Challenges Are Affecting the Growth of Coiled Tubing Operations in Offshore Regions

8 Coiled Tubing Market, by Fleet
8.1 Introduction
8.2 by Region
8.2.1 North America
8.2.1.1 Demand for Coiled Tubing Operations from Shale Development in North America is the Major Reason for the Higher Number of Active Fleets in the Region
8.2.2 Europe
8.2.2.1 Europe Witnessed the Highest Utilization Rate for Coiled Tubing Fleets as Offshore Operations Are High in the Region
8.2.3 Asia-Pacific
8.2.3.1 Asia-Pacific is Expected to Increase the Highest Number of Fleet in the Next 5 Years as Production Activities in the Region Are Rising
8.2.4 South & Central America
8.2.4.1 High Demand for Well Intervention Services from Brazil and Mexico Were the Major Demand Generators for Coiled Tubing Units in South & Central America
8.2.5 Middle East
8.2.5.1 Redevelopment of the Mature Fields in the Middle East Creates An Enormous Demand for Coiled Tubing Services in the Region
8.2.6 Africa
8.2.6.1 Africa is Still in the Nascent Phase for the Coiled Tubing Market; Thus, the Fleet Count is Lower in the Region
8.3 by Operator
8.3.1 Introduction
8.3.2 Nextier Oilfield Solutions
8.3.3 Step Energy Services
8.3.4 Key Energy Services
8.3.5 Pioneer Energy Services
8.3.6 Basic Energy Services
8.3.7 Calfrac Well Services

9 Coiled Tubing Market, by Region
9.1 Introduction
9.2 North America
9.3 Europe
9.4 South & Central America
9.5 Asia-Pacific
9.6 Middle East
9.7 Africa

10 Competitive Landscape
10.1 Overview
10.2 Ranking of Players and Industry Concentration, 2019
10.3 Competitive Scenario
10.3.1 Mergers & Acquisitions
10.3.2 Contracts & Agreements
10.3.3 New Product Launch
10.3.4 Alliances/Collaborations/Joint Ventures/Partnerships
10.4 Competitive Leadership Mapping
10.4.1 Visionary Leaders
10.4.2 Innovators
10.4.3 Dynamic
10.4.4 Emerging

11 Company Profile
11.1 Halliburton
11.2 Schlumberger
11.3 Baker Hughes Company
11.4 Weatherford
11.5 Nextier Oilfield Solutions
11.6 RPC, Inc.
11.7 Step Energy Services
11.8 Superior Energy Services
11.9 Trican
11.10 Altus Intervention
11.11 National Energy Services Reunited (NESR)
11.12 Oilserv
11.13 Basic Energy Services
11.14 Oceaneering International
11.15 Calfrac Well Services
11.16 Key Energy Services
11.17 Nine Energy Services
11.18 Pioneer Energy Services
11.19 Legend Energy Services

12 Adjacent & Related Markets

13 Appendix

For more information about this report visit https://www.researchandmarkets.com/r/r0utc2

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