Coil Tubing Market size was over USD 3 Billion. Increasing shale gas exploration and production activities would drive the market during the forecast period.
North America, led by the U.S. coil tubing market size was dominant regional industry in 2015 owing to high exploration and production activity of shale gas. Middle East and Africa should witness a substantial growth in future owing to increasing demand for innovative technology in oil and gas application. The development of new oil and gas fields such as Sub-Sahara Africa will also drive Middle East and Africa coil tubing market.
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Coil tubing unit includes injector head, drum, guider, blowout prevention system, control system and power system. Injector head is the main component and used to lift coil tubing during operation. The guider is used to inject and eject out of injector head. Drum is used to decide transport dimension and winding capacity of the unit. Power system is used to provide power to the unit. Blowout prevention system is used to sealing pressure in well to prevent blowout.
Increasing shale gas exploration and production activities across the globe will drive the coil tubing market share during the forecast period. Investment in oil and gas projects, discovery of new oil and gas reserves, redevelopment of matured oil and gas fields, shift to horizontallateral drilling, gradually increasing demand of oil and gas are some of the drivers which will boost the demand of coil tubing in the near future. Lack of skilled labor, low crude oil prices and competitive prices of alternative equipment such as snubbing units and workover rig acts as a restraint for industry. Increasing offshore drilling activities will be an opportunity for coil tubing market.
Global coil tubing market size has been segmented on the basis of application, operation, location and region. The application segment includes well intervention, drilling and completion. Well intervention is the process of enhancing productivity of oil and gas well by improving performance of additional hydrocarbon. These tubes are mainly used in well intervention. operation includes drilling, logging, perforation, circulation and pumping and others. location segment includes onshore and offshore.
This latest Coil Tubing Market research report offers in-depth analysis, key industry insights, market sizing & forecast on a granular level for key products, applications across number of regional markets. The report also analyzes the Coil Tubing Market industry from business strategy perspective, describing in detail growth drivers, pitfalls &challenges for participants, accompanied by a detailed competitive benchmarking including company market share analysis and detailed business profiles.
Browse key industry insights spread across market data tables, figures & charts from the report, “Coil Tubing Market Size, Industry Analysis Report, Regional Outlook (U.S., Germany, UK, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, Saudi Arabia, UAE, South Africa), Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024.”, in detail along with the table of contents.
Key Insights in this Report
- Global Coil Tubing Market size & forecast by product & application
- Growth drivers, pitfalls & industry challenges
- Key Coil Tubing Market growth opportunities & emerging business models
- Competitive benchmarking with market share analysis and company profiles
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