Global Coiled Tubing market Projected to touch $4.4 Billion by 2020

Posted on 2019-01-11 by Mark Hub in Industrial // 0 Comments

Albany, USA, 2019-Jan-11 — /EPR Network/ —As per the current market trends and the promising nature of the “Coiled tubing services, it can be estimated that the future holds positive outcomes. In order to provide a deep insight about the concerned market, Market Research Reports Search Engine would be publishing a resourceful analysis that will enclose knowledge about the regional market size, revenue and opportunity status. Readers will be offered the privilege to decode various facets of the market during the, together with the active access to secondary and primary research methodology. Furthermore, various segments of the market associated to product, application, end-user etc., would also be present in this intelligent research report.

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Coiled tubing is used in the Oil and Gas industry, primarily for upstream activities. It is a lengthy and coiled tubular product used for oil and gas well operations. It also finds use in well clean out’s, pumping of nitrogen and as production tubing in depleted gas wells among others. Coiled tubing services are divided into well intervention services, drilling services and other services.

The usage of coiled tubing in the oil and gas industry has multiple advantages ranging from contained well pressure, quicker trip times and lower personnel requirement among others. The market is poised for growth as more and more investments are being channeled towards the E&P industry. With development of offshore and deep-water drilling markets picking up the usage of such coiled tubing in these markets are imminent. Extensive shale gas exploration and drilling activities all over the world is one of the primary drivers of this market. Growing energy demands are likely to sustain the drilling industry even in the distant future and ensure the demand for such coiled tubing’s.

The coiled tubing market can be segmented on basis of services as well intervention services, drilling services and other services. Well intervention services can be segmented into well cleaning and well completion services (acid & chemical treatment, fishing, logging and perforation etc.). On the regional front North America is currently the largest market for coiled tubing both in terms of value and active fleet count. As awareness regarding benefits of this technology is increasing, other world markets are likely to increase their demand for coiled tubing. An expanding scope of business has been observed in areas like Europe, Asia Pacific and the Middle Eastern regions. However with the slowdown in North-American demand the overall growth curve for the industry is likely to be moderated in the near future.

Some of the key players in the industry are Schlumberger Ltd, Halliburton Co, Trican Well Services Ltd, Superior Energy Services Inc, Calfrac Well Services Ltd and Baker Hughes Inc. among others.

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This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include

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Asia Pacific
Europe
Rest of the World

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