Trending Report on Coiled Tubing Market Expected to Grow at 5.4 Billion In Revenue by 2024

The report titled “Coiled Tubing Market” sheds a concentrated focus on the Coiled Tubing industry in terms of market driver, opportunities, restraints of global segmentation. Further data on the reports also includes demographic conditions, over-turning changing business cycles and analyzing country-to-market.

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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.

Major Vendors profiled in the Coiled Tubing Market:

  • Halliburton (US)
  • Schlumberger(US)
  • BHGE(US)
  • Weatherford (US)
  • C&J Energy Services (US)

 

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.

 

North America is expected to dominate the global coiled tubing market between 2019 and 2024. 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.

 

Breakdown of primary participants’ profile:

  • By Company Type: Tier 1- 65%, Tier 2- 24%, and Tier 3- 11%
  • By Designation: C-Level- 30%, Director Level- 25%, and Others- 45%
  • By Region: Asia Pacific- 25%, Middle East– 23, Africa – 12%,Europe- 18%, North America- 13%, and South& Central America- 9%

 

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