Coiled Tubing Market 2019 Global Research Report- Forecast to 2023 is in-depth analysis research on Global Coiled Tubing Industry, comprises comprehensive data on Global Coiled Tubing Market Size, Share, Trends, Key Players, Growth Statistics, with historic and forecast data up to 2023. For better easy understanding this report segments Coiled Tubing Global Market by Service Type (Well Intervention, Drilling and others), Application (Onshore and Offshore) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and South America).
The report offers insights on the leading market players and evaluates their current market share. Company information with regards to revenue, segmental share, geographical income, SWOT, growth strategies, new product launch, M&A activities, and the latest R&D initiatives is also available in the report.
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Coiled Tubing Industry Key Companies Analyzed:
Some noteworthy players profiled in the global coiled tubing market report include Schlumberger (US), Halliburton (US), Weatherford (US), Baker Hughes, a GE Company LLC (US), Nabors Industries Ltd (UK), C&J Energy Services, Inc (US), Step Energy Services Ltd (US), Trican (Canada), Calfrac Well Services Ltd (Canada), RPC Inc (US), and Key Energy Services Inc (US).
The global coiled tubing services market is estimated to garner substantial growth in the forecast period, as per the study conducted by Market Research Future (MRFR). This study has been published in the form of a market research report and has stated that the global coiled tubing market size is expected to gain a momentous CAGR of 5.37% during the forecast period. The coiled tubing market is estimated to garner a market revenue valuation of USD 7,091.2 million by the end of the forecast period.
Coiled tubing refers to a long metal pipe that is welded into a tube and suppled on large reels. Coiled tubing has primary applications in the pumping of chemicals in oil wells. Coiled tubing is easy to install into an oil well, which is one of its most attractive features. The global demand for energy is witnessing acceleration, which in turn, has led to a speedy approach towards the discovery of new oil wells and faster extraction of oil from the old wells. This has led to a climb in the trend of adoption of the coiled tubing in the forthcoming years across various regions. However, its high technological complexities are estimated to pose as hindrances in the growth of the global coiled tubing market over the assessment period.
The coiled tubing market is segmented on the basis of type, application, and region for detailed analysis of the market. Based on type, the global coiled tubing market is segmented into drilling and well intervention, among others. In 2017, the well intervention segment accounted for the largest share of the global coiled tubing market and was valued at USD 2,603.7 million. This value is expected to proliferate upto USD 3688.8 million by the end of the review period. The well intervention segment is expected to register a robust CAGR of 5.94% by 2023.
Based on application, the global coiled tubing services market is segmented into onshore and offshore. At the beginning of the forecast period, the onshore segment held the largest share of the global coiled tubing market. The onshore segment held a market valuation of USD 3,704.1 million. This value is likely to raise upto USD 5,095.6 million by 2023. The onshore segment is likely to record a CAGR of 5.33% by 2023.
Detailed Regional Analysis
The global coiled tubing market is studied for the regional segments of North America, South America, Asia Pacific, Europe, and the Middle East & Africa. North America is observed to account for the leading coiled tubing market share over the forecast period. Europe is estimated to take on the second place in the market, following North America. The intensified growth in the shale oil and gas extraction activities, along with a rising exploration and production activities in the region are some factors contributing to the ascension of the regional coiled tubing market over the forecast period. In addition, upcoming and ongoing projects and developments in offshore drilling is also contributing to the ascension of the global coiled tubing market. Rise in the demand for energy is also anticipated to have a positive impact on the growth of the global coiled tubing market over the forecast period.
Within Asia Pacific, the global coiled tubing market is expected to emerge as a potential growth pocket due to its unexplored reserves and new oil field discoveries. In addition, a large number of shale reservoirs are present in China, that require a high number of coiled tubing units which are creating opportunities for the market in the region. Whereas, the coiled tubing market in the Middle East is likely to witness significant growth over the forecast period.
Global Coiled Tubing Market Competitive Analysis
The Global Coiled Tubing industry is well-established space witnessing several innovations. The market is competitive yet fragmented. The competition in the market is expected to intensify further during the review period. The Key players operating in this market emphasis upon the product innovation and new manufacturing processes which in turn, is anticipated to fuel the already intensified competition during the forecast period. Coiled Tubing global market demonstrates high growth prospect, which is turn, is attracting several new entrants to the market which is apparently anticipated to intensify the market competition.
Market Research Future (MRFR) leverages its in-house network of expert analysts who, with the help of robust algorithms and fail-safes methodologies derive reliable and insightful market forecast. The market facts presented in our reports are backed by primary and secondary research inputs, which include interviews with industry opinion holders, questionnaires, surveys, SEC filings, whitepaper references, and, annual reports published. Top-down and bottom-up approaches are employed to ensure the credibility of the market foresight. Our analysts evaluate every microeconomic and macroeconomic factor associated with the market for a reliable assessment of the changing trends. A multi-layer verification process validates the authenticity of our research findings. MRFR strives to reveal market opportunities and threats for enabling our clients to devise their next growth strategy.
Major Table of Content:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
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