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Global Coiled Tubing Market By Services (Well Intervention, Drilling Services, Others), By Application (Onshore and Offshore), By Operation (Pumping, Circulation/Deliquification, Others), By Region, Forecast & Opportunities to 2026

The global coiled tubing market accounted for a value of USD 2.8 billion in 2019 and is projected to register growth at a CAGR of 5.1% during forecast period.

COVID-19 has impacted the coiled tubing market. The growth of oil & gas industry is affected significantly due to pandemic. The LNG projectes got delayed by the companies to overcome over supply issues. The transportation and trade is at halt as supply chain got disrupted due to travel restriction. The maintenance activities are halted due to spread of corona virus. The growth of coiled tubing is significantly hindered during COVID-19.

Definition:

Coiled tubing can be defined as a very long metal pipe, which is supplied spooled on large reel. It is basically used for interventions in wells of oil and gas and it is also used in depleted gas wells. Coiled tubing also sometimes used to carry out similar operations to wirelining. It helps in pump chemicals through the coil and ability to push it into the hole.

Market Dynamics (Drivers/Opportunities):

The demand for well intervention operation is increasing in many regions. The investment and spending is increasing in upstream activities. The demand is increasing for oil & gas sector. The operational activities and production is improving rapidly. This drives growth in coiled tubing market during forecast period.

The exploration and production activities are increasing around various regions. The discoveries are increasing in this sector which creates opportunities for coiled tubing market. The demand for production of conventional energy resources is increasing in the world. This drives growth in coiled tubing market during forecast period.

Market Insights, by Services

On the basis of services, the coiled tubing market is segmented into well intervention, drilling services and others. The well intervention segment is estimated to dominate the coiled tubing market during forecast period.   It includes operations which are performed using coiled tubing units. It includes stimulation, fluid pumping, milling and sand control etc. The well interventions segment is further sub-segmented into mechanical operations & well completions and well cleaning & pimping operations. The coiled tubing well interventions services are largely adopted and this drives growth in well intervention segment during forecast period.

Market Insights, by Application

On the basis of application, the coiled tubing market is segmented into onshore and offshore. The onshore segment is estimated to grow at faster rate during forecast period. The domestic shale gas and tight oil reserves are developing and increasing demand for natural gas and crude oil production. This segment is highly efficient and cost of operation depends on transportation, processing, completion, land acquisition and capitalized drilling. This drives growth in onshore segment during forecast period.

Regional Insights

North America region is estimated to be largest market during forecast period. The unconventional resources are increasing in this region in countries such as US and Canada etc. The coiled tubing operation is increasing onshore and offshore fields in US. Many new projects and planned exploration projects are beginning in coming years in this region. This drives growth in North America region during forecast period.

Key Companies & Market Share Insights

The key market players in coiled tubing market are Halliburton, Schlumberger, Baker Huges Company, Weatherford, Nextier Oilfield, RPC Inc., Step Energy Services, Superior Energy, Step Energy Services, Trican, Altus Intervention, National Energy Services Reunited, Oilserv, Basic Energy Services, Oceaneering International, Calfrac well Services, Key Energy Services and Nine Energy Services.

Segments Covered in the Report

This report forecasts The Global Coiled Tubing Market, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2026. For the purpose of this study, Our Company has segmented the global coiled tubing market report on the basis of services, operation and application.

Coiled Tubing Market Size & Forecast (2017-2026)

  1. Research Framework
    • Market Definition and Product Overview
    • Market Segmentation
  2. Research Methodology
    • Qualitative Research
      • Primary & Secondary Sources
    • Quantitative Research
      • Primary & Secondary Sources
    • Breakdown of Primary Research Respondents, By Region
      • Secondary Research
      • Primary Research
    • Breakdown of Primary Research Respondents, By Industry Participants
      • Market Size Estimation
      • Assumption for the Study
      • Market Breakdown & Data Triangulation
  1. Executive Summary
    • Market Snapshot
  2. Industry Insights
    • Industry ecosystem analysis
      • Value Chain Analysis
    • Industry impact and forces
      • Growth Drivers
      • Challenges &Restraints
      • Opportunities
    • Disruptive Technological Analysis
    • Regulatory framework
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
    • Growth potential analysis, 2019
    • Porter’s Five forces analysis
    • Pricing Analysis
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • South America
  1. COVID – Impact Analysis
    • North America
    • Europe
    • Asia Pacific
    • Middle East & Africa
    • South America
  2. Coiled Tubing Market, By Services, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Well Intervention
  • Drilling Services
  • Others
  1. Coiled Tubing Market, By Operation, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Pumping
  • Circulation/Deliquification
  • Logging
  • Perforation
  • Others
  1. Coiled Tubing Market, By Application, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • Offshore
  • Offshore
  1. Coiled Tubing Market, By Region, Market Size & Forecast To 2026

(USD Million 2017,2018, 2019, 2020, 2021-e-2026-p)

  • Introduction
  • North America Market Size & Forecast To 2026
    • Market Overview
    • COVID-19 Impact
    • By Services
    • By Operation
    • By Application
    • By Country
      • USA
        • By Application
      • Canada
      • Mexico
    • South America Market Size & Forecast To 2026
      • Market Overview
      • COVID-19 Impact
      • By Services
      • By Operation
      • By Application
      • By Country
        • Brazil
          • By Application
        • Argentina
        • Chile
        • Rest of South America
      • Europe Market Size & Forecast To 2026
        • Market Overview
        • COVID-19 Impact
        • By Services
        • By Operation
        • By Application
        • By Country
          • UK
            • By Application
          • Germany
          • France
          • Italy
          • Rest of Europe
        • APAC Market Size & Forecast To 2026
          • Market Overview
          • COVID-19 Impact
          • By Services
          • By Operation
          • By Application
          • By Country
            • China
              • By Application
            • India
            • Japan
            • South Korea
            • Australia
            • Rest of APAC
          • Middle East & Africa Market Size & Forecast To 2026
            • Market Overview
            • COVID-19 Impact
            • By Services
            • By Operation
            • By Application
            • By Country
              • Saudi Arabia
                • By Application
              • UAE
              • Qatar
              • Kuwait
              • South Africa
              • Rest of Middle East & Africa
  1. Competitive Landscaping
    • Competitive Benchmarking
      • Market Share Analysis, 2019
      • Global Presence and Growth Strategies
        • Mergers & Acquisitions
        • New Product Launches
        • Investments Trends
        • R&D Initiatives
  1. Company Profile
    • Nine Energy Services
      • Company Overview
      • Financial Overview
      • Product Portfolio
      • Recent Developments
      • SWOT Analysis
      • Strategic Outlook
    • Halliburton
    • Schlumberger
    • Baker Huges Company
    • Weatherford
    • Nextier Oilfield
    • RPC Inc.
    • Step Energy Services
    • Superior Energy
    • Step Energy Services
    • Trican
    • Altus Intervention
    • National Energy Services Reunited
    • Oilserv
    • Basic Energy Services
    • Oceaneering International
    • Calfrac Well Services
    • Key Energy Services
  2. Appendix
    • Interrelated Market

 

Research Methodology

1.1     Research Methodology

The process of market research at PAN Market Consulting is very intuitive being iterative in nature and usually follows the path where Information gathered from secondary research is used to build data models, which are than validated from primary participants. Then same cycle repeats where, according to inputs from primary participants, additional secondary research is done, and new information type is again incorporated into data model. The process continues till desired level of information is not generated.

To calculate the market size, the report considers the revenue generated from the sales of the product/services. The revenue generated from the sales of product/services has been calculated through primary and secondary research. The report also analyses the key players operating in the market at the global level which are identified through secondary research and a corresponding detailed analysis of the top vendors in the market. The market size calculation also includes product segmentation determined using secondary sources and verified through primary sources.

1.2     Secondary Research

The secondary research source that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • Internal and external proprietary databases, relevant patent and regulatory databases
  • National government documents, statistical databases and market reports
  • News articles, press releases and web-casts specific to the companies operating in the market

The source for secondary research includes but is not limited to Factiva, Hoovers and Statista

SecondaryResearch

1.3     Primary Research

We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate data and analysis. A typical research interview fulfills the following end users:

  • It provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc.
  • Helps in validating and strengthening the secondary research findings
  • Further develops the analysis team’s expertise and market understanding
  • Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies

The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/ product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, research analysts specializing in specific markets
  • Key opinion leaders specializing in different areas corresponding to different industry end users

1.4     Models

Where no hard data is available, we use modeling and estimates in order to produce comprehensive data sets. A rigorous methodology is adopted in which the available hard data is cross referenced with the following data products to produce estimates:

  • Demographic data: Population split by segment
  • Macro-economic indicators: GDP, etc.
  • Industry indicators: Expenditure, product stage & infrastructure, sector growth and facilities.

Data is then cross checked by the expert panel.

1.4.1 Company Share Analysis Model

Company share analysis is used to derive the size of global market. As well as study of revenues of companies for last three to five years also provide the base for forecasting the market size and its growth rate. This model is built in following steps:

ResearchMethodology1

1.4.2 Revenue Based Modeling

Revenue based models can be built in two ways – Top-Down or Bottom-Up irrespective of industry. Market size estimated from company share analysis acts as a validation point for bottom-up approach whereas it acts as starting point for top-down approach.

ResearchMethodology2

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