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Global Coiled Tubing Market Report 2019-2024: Major Players are Schlumberger, BHGE, Halliburton, Weatherford

PRESS RELEASE PR Newswire
Nov. 27, 2019, 12:15 PM

DUBLIN, Nov. 27, 2019 /PRNewswire/ -- The "Coiled Tubing Market by Fleet (Operator, Region), Service (Well Intervention (Well Completions & Mechanical Operations, Well Cleaning & Pumping Operations), Drilling Service ), Application (Onshore, Offshore), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The coiled tubing market was valued at USD 3.6 billion in 2018 and is projected to reach USD 5.4 billion by 2024, at a CAGR of 7.1% during the forecast period.

The global coiled tubing industry is driven mainly by the growing demand for well intervention operations, redevelopment of mature fields, and advancements in shale developments. The increasing demand for larger diameter coiled tubing and the evolution of intelligent coiled tubing units are likely to offer lucrative opportunities for the market players over the next five years.

Coiled tubing is used in various applications, including wellbore clean-out, stimulation, fishing, fracturing, pressure pumping, and milling. Coiled tubing services are used primarily for well completion and production enhancement operations. The services are considered as cost-effective solutions to carrying out well operations as coiled tubing units can be deployed on a live well using well control equipment. This ability helps reduce the risk of formation damage while killing a well.

The shale developments in the US, discoveries of offshore reserves, rising production from mature oilfields are the major drivers for the coiled tubing market. The increasing number of horizontal drilling activities in the US and Canada is another factor driving the market for coiled tubing services in North America.

The major challenge faced by service providers in the coiled tubing business is to cope with the logistical challenges that arise while transporting the coiled tubing unit to the well site, along with the challenging coiled tubing operations in offshore well interventions & drilling.

The major service providers in the coiled tubing market are

  • Schlumberger
  • BHGE
  • Halliburton
  • Weatherford
  • C&J Services
  • STEP Energy Services
  • Key Energy Services
  • Pioneer Energy Services
  • Basic Energy Services
  • Calfrac Well Services

Key Topics Covered:

1 Introduction

2 Research Methodology
2.1 Research Data
2.2 Scope
2.2.1 Scope of the Coiled Tubing Market
2.3 Key Influencing Factors/Drivers
2.3.1 Well Count
2.3.2 Coiled Tubing Unit Count
2.3.3 Production Trends
2.3.4 Crude Oil Prices
2.4 Market Size Estimation
2.4.1 Ideal Demand-Side Analysis
2.4.1.1 Assumptions
2.4.1.2 Calculation
2.4.2 Supply-Side Analysis
2.4.2.1 Assumptions
2.4.2.2 Calculation
2.4.3 Forecast
2.5 Market Breakdown and Data Triangulation
2.6 Primary Insights

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Coiled Tubing Market
4.2 Market, By Service
4.3 Market, By Application
4.4 Market, By Region
4.5 North America Coiled Tubing Market, By Application & Country

5 Coiled Tubing Market, By Service
5.1 Introduction
5.1.1 Well Intervention
5.1.1.1 Well Completions & Mechanical Operations
5.1.1.1.1 Increasing Concerns for Improving Well Accessibility and Enhancing Production are Expected to Drive the Well Completions & Mechanical Operations Market
5.1.1.2 Well Cleaning & Pumping Operations
5.1.1.2.1 Optimization of Mature Oil & Gas Reservoirsdrives the Demand for Well Cleaning & Pumping Operations
5.1.2 Drilling
5.1.2.1 Multilateral Well Drilling is Driving the Coiled Tubing Drilling Market
5.1.3 Others

6 Coiled Tubing Market, By Application
6.1 Introduction
6.2 Onshore
6.2.1 Onshore Shale Development in North America and Higher Number of Mature Onshore Oilfields in the Middle East are Likely to Provide Opportunities for Coiled Tubing Service Providers
6.3 Offshore
6.3.1 Greater Logistical and Operational Challenges are Affecting the Growth of Coiled Tubing Operations in Offshore Regions

7 Coiled Tubing Market, By Fleet
7.1 Introduction
7.2 By Region
7.2.1 North America
7.2.1.1 Demand for Coiled Tubing Operations From Shale Development in North America is the Major Reason for the Higher Number of Active Fleets in the Region
7.2.2 Europe
7.2.2.1 Europe Witnessed the Highest Utilization Rate for Coiled Tubing Fleet as the Offshore Operations are High in the Region
7.2.3 Asia Pacific
7.2.3.1 Asia Pacific is Expected to Increase the Highest Number of Fleet in the Next 5 Years as the Production Activities in the Region are Rising
7.2.4 South & Central America
7.2.4.1 High Well Intervention Demand From Brazil and Mexico Were Major Demand Generators for Coiled Tubing Units in South & Central America
7.2.5 Middle East
7.2.5.1 Redevelopment of the Mature Fields in the Middle East Creates Enormous Demand for Coiled Tubing Services in the Region
7.2.6 Africa
7.2.6.1 Africa is Still in the Nascent Phase for the Coiled Tubing Market; Thus the Fleet Count is Lower in the Region
7.3 By Operator
7.3.1 Introduction
7.3.2 C&J Energy Services
7.3.3 Step Energy Services
7.3.4 Key Energy Services
7.3.5 Pioneer Energy Services
7.3.6 Basic Energy Services
7.3.7 Calfrac Well Services

8 Coiled Tubing Market, By Region

9 Competitive Landscape
9.1 Overview
9.2 Ranking of Players and Industry Concentration, 2018
9.3 Competitive Scenario
9.3.1 Mergers & Acquisitions
9.3.2 Contracts & Agreements
9.3.3 New Product Launches
9.3.4 Partnerships/Collaborations/Joint Ventures/Mergers & Acquisitions
9.4 Competitive Leadership Mapping

10 Company Profiles
10.1 Business Overview
10.2 Product & Service Offerings
10.3 Recent Developments

  • Altus Intervention
  • Baker Hughes, a GE Company
  • Basic Energy Services
  • C&J Energy Services
  • Calfrac Well Services
  • Halliburton
  • Key Energy Services
  • Legend Energy Services
  • National Energy Services Reunited (NESR)
  • Nine Energy Services
  • Oceaneering International
  • Oilserv
  • Pioneer Energy Services
  • RPC Inc.
  • Sahara Petroleum Services Company (SAPESCO)
  • Schlumberger
  • Step Energy Services
  • Superior Energy Services
  • Trican
  • Weatherford

For more information about this report visit https://www.researchandmarkets.com/r/odgoof

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

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