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Coiled Tubing Market Research Report - Global Forecast till 2023
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Coiled Tubing Market Research Report - Global Forecast till 2023

Market Research Future Published Cooked Research Report on Coiled Tubing Market Research Report.

Overview

The global coiled tubing market is expected to gain an unprecedented value of USD 7,091.2 million by 2023 with a CAGR of 5.37% during the forecast period (2018-2023). The report covers the market segmentation and the dynamics of a global market in the coming years. Coiled tubing is a long metal pipe, which is welded into a tube and is supplied on large reels. Coiled tubing is primarily used for pumping chemicals into oil wells. Coiled tubing can be easily installed in an oil well, which is one of its most beneficial features. However, its high growth rate could increase during the period.

Regional Analysis

North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. North America is expected to lead the coiled tubing market during the forecast period, followed by Europe. The booming oil and gas extraction activities and increasing exploration and production activities are some of the factors that are expected to drive the market during the forecast period. Additionally, the forthcoming and continuing projects and developments in offshore drilling, favorable government regulations, improved coiling tubing services, and the development of a pipeline for the United States are expected to have a positive impact on the growth of the coiled tubing market in North America.

The global coiled tubing market is expected to reach USD 7,019.2 million and has a CAGR of over 5.37% by the end of the forecast period.

Access Report Details @ https://www.marketresearchfuture.com/reports/coiled-tubing-market-1738

Segmental Analysis

The global coiled tubing market is segmented based on service type and application.

On the basis of service type, the global coiled tubing market is segmented into well intervention, drilling, and others. In 2017, the market segment held the maximum market share and was valued at USD 2,603.7 million. This value is rising to USD 3.688.8 million by 2023. CAGR of 5.94% during the forecast period.

On the basis of application, the global coiled tubing market is segmented into onshore and offshore. In 2017, the onshore segment held the maximum market share and was valued at USD 3,704.1 million. This value can rise to USD 5,095.6 million by 2023. This segment is expected to grow with the fastest CAGR of 5.33% during the forecast period.

Competitive Analysis

Some of the prominent players operating in the global coiled tubing market report are Schlumberger Limited, Halliburton, Weatherford, Baker Hughes, a GE Company, LLC, Nabors Industries Ltd, Superior Energy Services, Inc., Superior Energy Services, Inc., Calfrac Well Services Ltd, RPC, Inc., STEP Energy Services Ltd, and Key Energy Services, Inc.

Schlumberger Limited announced its ACTive Q-CT real-time downhole flow measurement service, which delivers real-time injection diagnostics and evaluation of the well. This helped the company acquire more accurate results in terms of pressure, temperature, and fluid velocity during interventions in real time. Thus, this development has helped the company offer its customers an easy decision-making process to save valuable time.

Step Energy Services Ltd. strategizes to acquired Tucker Energy Services Holdings, Inc. for USD 275 million. This acquisition includes four fracturing spreads representing 192,500 horsepower, two coiled tubing spreads, and 15 wireline units.

For more news visit:

https://www.marketwatch.com/press-release/coiled-tubing-market-2019-trends-size-share-growth-insight-statistics-competitive-analysis-segments-regional-and-global-industry-forecast-to-2023-2019-03-19


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