MarketHighlights

Global Coiled Tubing Marketis expected to grow at a CAGR ofabout 6% during the forecast period,2016 to 2022

Coiled tubing is a cost effectivesolution for various applications across drilling, completions, and workoveroperations for an oil well. The market for coiled tubing services hadcontracted significantly, on account of the prolonged oil price decline sincemid-2014. Considerable supply excess had been a major factor resulting into theplummeting oil prices. However, the recent price stabilization as well aschanging dynamics of oil producing countries has instigated a positive outlookfor the upstream oil & gas services market. Coiled Tubing market isprojected to grow at a moderate pace of 6% in the next six years, on account ofcontinuing production activities as well as revival in drilling activitieswithin the next couple of years.

 Real-Time Coiled Tubing is the currenttrend observed in the market. Real-Time Coiled Tubing combines intervention anddiagnostic services to help operators monitor and optimize job performance inreal-time, resulting in greater efficiency, increased reliability, and higherreturn on investment. SPECTRUM Real-Time Coiled Tubing Services can be combinedwith standard coiled tubing applications and down-hole tools to obtain vitalwell data in conjunction with other well intervention services to delivercustomized intervention solutions and maximize a single trip down hole.

 Coiled tubing is a cost effectivesolution for various applications across drilling, completions, and workoveroperations for an oil well.

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 Key Player

The key players in the Coiled Tubingare

·        HalliburtonCo,

·        BakerHughes Inc.,

·        WeatherfordInternational,

·        SuperiorEnergy Services Inc.,

·        NaborsIndustries,

·        ArcherLimited,

·        C&JEnergy Services,

·        TricanWell Services Ltd,

·        CalfracWell Services Ltd

·        RPC,Inc.

·        Others

Upstream oil & gas services markethas considerably shrunk owing to the continual decline in oil prices sincemid-2014. However, recent stabilization in the prices as well as reducingsupply-demand gap is expected to revive the market in the next five years.Coiled tubing services are typically used during drilling, completion, and wellintervention applications. The market for coiled tubing services is expected togrow at a moderate pace during the forecast period, on account of continuingproduction activities.

 North America will be the fastest growing Market

North America is expected to retainits majority share in the coiled tubing services market, growing at a steadypace during the forecast period. Middle East market is expected to grow at acomparatively faster pace between 2016 and 2022. European demand is expected tobe driven by key countries such as Russia, U.K., and Norway.

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 Coiled Tubing Global Market – Regional Analysis

Increasing exploration activities inthe North American region are pushing the demand in the Coiled Tubingmarket.  Africa d Middle East closelyfollow North America in the Coiled Tubing market mainly due to the increased investmentin the recent times coupled with the development of new technology throughinnovation for the purpose of oil and gas application.