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Pulished Date April, 2021
ID: 10464
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Coiled Tubing Services Market Segmentation By Fleet (Operator, Region), By Service (Well Intervention Service, Drilling Service, Others), By Application (Onshore, Offshore), and Region - Industry Forecast of 2021 to 2026

Pulished: April, 2021
ID: 10464
Pages: 175

Coiled Tubing Services Market size, share, Analysis:

The global coiled tubing market is foreseen to arrive at $ 4.5 billion by 2026, expanding from $ 3.2 billion in 2021, recording a CAGR of 5.4% over the foreseen period.

Coiled tubes are employed in the oil and gas industry, mainly for upstream activities. It is a long, coiled tubular product employed for oil and gas well operations. It also finds use in well cleaning, nitrogen pumping and as production tubes in depleted gas wells, among others. Coiled tubing services are divided into well intervention services, drilling services and other services. Coiled tubes are employed primarily in the oil and gas industries. These tubes are employed for ascending activities. They are long coiled tubular products employed for proper oil and gas operations and also for cable-like operations. The main reason these tubes are employed in the oil and gas industry is their low maintenance, well-contained pressure, and fast activation times. Coiled tubes have a number of applications like use for liquefying, circulating, pumping sand screens or cement drilling, forestry, drilling, production and drilling of spiral tubes. It is a cheaper version of labor operations.

Coiled Tubing Services Market Trends:

The use of coiled tubing in the oil and gas industry has many advantages ranging from confined well pressure, faster travel times, and lower personnel requirements, among others. The market is about to grow, as more and more investment is directed to the exploration and production industry. With the development of the offshore and deep-water drilling markets, the use of these coiled tubes in these markets is imminent. One of the main drivers of this market is the extensive shale gas exploration and drilling activity around the world. The rising call for energy is likely to support the drilling industry even in the distant future and secure the call for such coiled tubes.

Coiled Tubing Services Recent Developments in Industry:

  • Tenaris launches rolled tube services in Argentina to manage the entire value chain. Tenaris has acquired sophisticated and modern units, unique in the Argentine market, capable of satisfying clients' needs for the exploration of longer lateral wells.
  • Halliburton has launched the SPECTRUM FUSION service, the latest offering in the SPECTRUM family of real-time coiled tube services. The FUSION service includes the industry's first real-time system using hybrid cable technology that combines fiber optics and power to provide background communication and continuous power for a variety of diagnostic applications.

Coiled Tubing Services Market Drivers

High spending on worldwide upstream and operational activities started to rise from the NOCs and integrated oil companies. In addition, with the growing call for oil and gas, the upstream oil and gas sector is improving its operating activities and escalating production. The main factors influencing the worldwide spiral tube market are the escalating expansion of the energy sector and increased investments in shale gas developments. Escalating investments in exploration and production industries are also driving the worldwide market. Advances in the deepwater and offshore drilling markets are escalating the use of coiled tubing, which in turn is driving the expansion of the global coiled tubing market. The other factors that are driving the worldwide market are the growing call for renewable resources, increased exploration, production and completion of these activities. The main objective is to increase the production of natural gas and oil required by large-scale spiral tube services, which drives the expansion of the world market. Escalating call for the coiled product is driving the worldwide coiled tubing services market. Rising employment opportunities and low-cost workforce are predicted to influence the expansion of this market.

Coiled Tubing Services Market Restraints:

Coiled tube is actually subtle equipment and the tube has relatively thin walls. Since the tube is constantly bent and straightened, often under high internal pressure, which can cause a small defect, either caused by corrosion or mechanically, so there is a high probability of operational damage. Studies show that 80-90% of spiral tube column failures over the past two decades were associated with corrosion, mechanical damage, human error, and bead manufacturing problems.

Opportunities in the Coiled Tubing Services Market:

Advances in exploration technology, along with declining shallow water oil reserves and the commercial viability of exploration projects, are the main factors pushing E&P operators to explore new fields. oil, especially in offshore regions. Hence the creation of new opportunities for coiled tubes.

Challenges:

High-pressure losses when pumping fluids, corrosion of coiled tubes, the inability to rotate coiled tubes, and the logistical challenges of trucking and lifting cranes at sea are some of the challenges that companies face coiled tubing service providers during offshore well work and drilling activities. Therefore, the high cost of ownership slows the expansion of the world market.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2020 – 2025

Base Year

2020

Forecast Period

2021 - 2026

CAGR

5.4%

Segments Covered

By Product, Type, Consumption, Distribution Channel and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

 

 

Market Leaders Profiled

Halliburton Co., Baker Hughes, Schlumberger Ltd., Nabors Industries, Superior Energy Services Inc., and C&J Energy Services. The other key players in the global market include Trican Well Services Ltd., Weatherford International, Calfrac Well Services Ltd, Archer Limited, and RPC, Inc

Coiled Tubing Services Market

Coiled Tubing Services Market Segmentation:

By fleet:

  • Operator
  • Region

By service:

  • Well intervention service
  • Drilling service
  • Others

Well intervention services include operations performed with coiled tube units. The well interventions segment has been subdivided, by type, into well completions and mechanical operations and well cleaning and pumping operations. Well intervention services are performed by cable or by coiled tube.

By application:

  • Onshore
  • Offshore

The onshore segment is predicted to experience the fastest expansion during the forecast period. The development of national oil and shale gas reserves is behind the sharp increase in crude oil and natural gas production in the area. This has improved the efficiency of operations to increase production from oil and gas wells.

Coiled Tubing Services Regional Analysis:

  • North America 

  • Europe 

  • Asia Pacific 

  • Latin America 

  • Middle East & Africa 

North America is estimated to be the largest market from 2021 to 2026, driven by the expansion of unconventional resources in the United States and Canada. Additionally, call for coiled tube operations in maturing offshore fields in the Gulf of Mexico and other onshore fields in the United States is predicted to drive market expansion. The United States has the majority of its share of the coiled tubing services market. Escalating shale gas developments in the United States are contributing to worldwide market expansion in the region. Innovative technology and increased investments employed in the oil and gas industry help the worldwide market to expand to areas like the Middle East and Africa.

The worldwide market for coiled tubing services in Asia-Pacific and Europe is constantly growing. New developments in the coiled tube industry are driving market expansion. The Asia Pacific market is predicted to experience the fastest expansion during the outlook period, due to increased government initiatives for the development of the oil and energy industry, with the majority of the population opting for use an alternative energy source in the emerging economies of the locale. In addition, the Middle East and Africa market shows moderate expansion during the forecast period, due to the escalating call for innovative technologies for oil and gas applications and the development of new oil fields in the region.

Coiled Tubing Services Market Key Players:

The major players in the global coiled tubing services market include Halliburton Co., Baker Hughes, Schlumberger Ltd., Nabors Industries, Superior Energy Services Inc., and C&J Energy Services. The other key players in the global market include Trican Well Services Ltd., Weatherford International, Calfrac Well Services Ltd, Archer Limited, and RPC, Inc. 

 

1. Introduction               

              1.1 Market Definition   

              1.2 Scope of the report

              1.3 Study Assumptions 

              1.4 Base Currency, Base Year and Forecast Periods        

2. Research Methodology                         

              2.1 Analysis Design        

              2.2 Research Phases     

                             2.2.1 Secondary Research

                             2.2.2 Primary Research 

                             2.2.3 Data Modelling

                             2.2.4 Expert Validation

              2.3 Study Timeline         

3. Report Overview                      

              3.1 Executive Summary

              3.2 Key Inferencees       

4. Market Dynamics                    

              4.1 Impact Analysis       

                             4.1.1 Drivers

                             4.1.2 Restaints

                             4.1.3 Opportunities

              4.2 Regulatory Environment      

              4.3 Technology Timeline & Recent Trends          

5. Competitor Benchmarking Analysis                 

              5.1 Key Player Benchmarking    

                             5.1.1 Market share analysis

                             5.1.2 Products/Service

                             5.1.3 Regional Presence

              5.2 Mergers & Acquistion Landscape     

              5.3 Joint Ventures & Collaborations       

6. Market Segmentation                           

              6.1 Coiled Tubing Services Market, By Fleet        

                             6.1.1 Operator

                             6.1.2 Region

                             6.1.3 Market Size Estimations & Forecasts (2019-2024)

                             6.1.4 Y-o-Y Growth Rate Analysis

                             6.1.5 Market Attractiveness Index

              6.2 Coiled Tubing Services Market, By Application          

                             6.2.1 Onshore

                             6.2.2 Offshore

                             6.2.3 Market Size Estimations & Forecasts (2019-2024)

                             6.2.4 Y-o-Y Growth Rate Analysis

                             6.2.5 Market Attractiveness Index

              6.3 Coiled Tubing Services Market, By Service    

                             6.3.1 Well Intervention Service

                             6.3.2 Drilling Service

                             6.3.3 Market Size Estimations & Forecasts (2019-2024)

                             6.3.4 Y-o-Y Growth Rate Analysis

                             6.3.5 Market Attractiveness Index

7. Geographical Landscape                      

              7.1 Global Identity Governance and Administration Market, by Region             

              7.2 North America - Market Analysis (2018 - 2024)         

                             7.2.1 By Country

                             7.2.2 By Fleet

                             7.2.3 By Application

                             7.2.4 By Service

              7.3 Europe        

                             7.3.1 By Country

                             7.3.2 By Fleet

                             7.3.3 By Application

                             7.3.4 By Service

              7.4 Asia Pacific 

                             7.4.1 By Country

                             7.4.2 By Fleet

                             7.4.3 By Application

                             7.4.4 By Service

              7.5 Latin America           

                             7.5.1 By Country

                             7.5.2 By Fleet

                             7.5.3 By Application

                             7.5.4 By Service

              7.6 Middle East and Africa         

                             7.6.1 By Country

                             7.6.2 By Fleet

                             7.6.3 By Application

                             7.6.4 By Service

8. Key Player Analysis                  

              8.1 Halliburton Co         

                             8.1.1 Business Description

                             8.1.2 Products/Service

                             8.1.3 Financials

                             8.1.4 SWOT Analysis

                             8.1.5 Recent Developments

                             8.1.6 Analyst Overview

              8.2 Baker Hughes           

              8.3 Schlumberger Ltd    

              8.4 Nabors Industries   

              8.5 Superior Energy Services Inc             

              8.6 C&J Energy Services

              8.7 Trican Well Services Ltd       

              8.8 Weatherford International 

              8.9 Calfrac Well Services Ltd      

              8.10 Archer Limited       

9. Market Outlook & Investment Opportunities               

Appendix                         

              List of Tables    

              List of Figures   

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped

  • Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail

  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics

  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis

  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development

  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment

  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies

  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions

  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

  1. Global Coiled Tubing Services Market By Region, From 2021-2026 ( USD Billion )

  2. Global Coiled Tubing Services Market By Fleet, From 2021-2026 ( USD Billion )

  3. Global Operator Market By Region, From 2021-2026 ( USD Billion )

  4. Global Region Market By Region, From 2021-2026 ( USD Billion )

  5. Global Coiled Tubing Services Market By Application, From 2021-2026 ( USD Billion )

  6. Global Onshore Market By Region, From 2021-2026 ( USD Billion )

  7. Global Offshore Market By Region, From 2021-2026 ( USD Billion )

  8. Global Coiled Tubing Services Market By Service, From 2021-2026 ( USD Billion )

  9. Global Well Intervention Service Market By Region, From 2021-2026 ( USD Billion )

  10. Global Drilling Service Market By Region, From 2021-2026 ( USD Billion )

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