Coiled tubing is essential equipment primarily used in oil & gas industry for well intervention, and drilling services. Oil price decline has had a profound effect on the upstream oil & gas investments. Majority of market players have shifted their focus towards production optimization, to ensure cost-effectiveness. Investments into exploration and drilling activities have also plummeted thereby contracting the revenue streams of drilling services providers. However, recent stabilization in the oil prices as well as gradual reduction in the supply-demand gap is expected to fasten the revival in the upstream oil & gas market. The global coiled tubing market is expected to achieve a compounded annual growth rate of about 5-6% during the forecast period.
Study Objectives of Global Coiled Tubing Market
Additionally, active fleet information categorized by region as well as market players shall also be provided in the report.
Regional Analysis of Global Coiled Tubing Market
North America held the largest share within the coiled tubing market in 2015, and is expected to retain its majority by 2022. It is expected to grow at a fast pace during the forecast period, overcoming the substantial active fleet reduction in 2016, following an expected revival in the upstream oil & gas services market. Middle East and Asia – Pacific markets are projected to continue posting moderate growth during the forecast period.
Coiled Tubing Market, by Region (USD Million)
The key players of Global Coiled Tubing Market report include- Baker Hughes Inc., Halliburton Co, Schlumberger Ltd., Superior Energy Services Inc., Archer Limited, C&J Energy Services Ltd., Calfrac Well Services Ltd, Cudd Energy Services, and Key Energy Services Llc.
The report covers brief analysis of country level market information –
Middle East & Africa
The report for Global Coiled Tubing Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.