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.
Rise in exploration & production activities globally is anticipated to boost the market over the forecast period. Mounting demand for the oil and gas in transportation, power production, and other application activities, had led to the growth in the consumption of primary energy sources.
The global market is moderately consolidated. It experiences the presence of giant and large number of key industry participants across the value chain. Major companies operating in the market comprises of multinational conglomerates which includes E&P companies, individual equipment & oilfield service corporations, microseismic and proppants companies. The key players are 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 and so on.
The market is growing at a very rapid pace and with rise in technological innovation, competition and M&A activities in the industry many local and regional vendors are offering specific application products for varied end-users. The new manufacturer entrants in the market are finding it hard to compete with the international vendors based on quality, reliability, and innovations in technology.
The industry is expected to remain innovation-led, with frequent acquisitions and strategic alliances adopted as the key strategies by the players to increase their industry presence. Market stays in mature period with a clear concentration.
Significant and lasting barriers make entry into this market difficult. These barriers include, but are not limited to: (i) product development costs; (ii) capital requirements; (iii) intellectual property rights; (iv) regulatory requirement; and (v) Transitions’ unfair methods of competition.
Despite the presence of competition problems, due to the global recovery trend is clear, investors are still optimistic about this area, the future will still have more new investment enter the field. Even so, the market is intensely competitive .The study group recommends the new entrants just having money but without technical advantage and upstream and downstream support do not to enter into this field.
In 2018, the global Coiled Tubing Services market size was 3510 million US$ and it is expected to reach 6240 million US$ by the end of 2025, with a CAGR of 7.5% during 2019-2025.
This report focuses on the global Coiled Tubing Services status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Coiled Tubing Services development in United States, Europe and China.
The key players covered in this study
Baker Hughes (GE)
Calfrac Well Services
Cudd Energy Services (RPC)
National Oilwell Varco
Pioneer Energy Services
PT Elnusa Tbk
Market segment by Type, the product can be split into
Market segment by Application, split into
Market segment by Regions/Countries, this report covers
Central & South America
The study objectives of this report are:
To analyze global Coiled Tubing Services status, future forecast, growth opportunity, key market and key players.
To present the Coiled Tubing Services development in United States, Europe and China.
To strategically profile the key players and comprehensively analyze their development plan and strategies.
To define, describe and forecast the market by product type, market and key regions.
In this study, the years considered to estimate the market size of Coiled Tubing Services are as follows:
History Year: 2014-2018
Base Year: 2018
Estimated Year: 2019
Forecast Year 2019 to 2025
For the data information by region, company, type and application, 2018 is considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.