The global coiled tubing (CT) market is expected to reach USD 4.9 billion by 2025. Globally, declining oil production and increasing number of exploration & production activities are anticipated to drive the market growth in the next eight years. In addition, a shift in the trend for developing unconventional oil blocks globally, will boost the market demand.
Regulations in countries enhancing exploration & production activities will be a supporting factor for the market growth. Favorable initiatives by Chinese and the U.S. governments in the form of relaxed provision of FDI, tax incentives, and other financial aids is estimated to back up the industry growth. However, public concerns and several bans concerning harmful impacts of the technology mainly in countries such as South Africa, France, Tunisia, Romania, and Bulgaria are anticipated to remain key challenges for the industry players over the next few years.
Well intervention is a major service provided by CT technology. the service is carried out in to extend the life of a producing well by improving its performance. Some of the well intervention service includes well completion, well cleaning, and wireline. Sand clean out is the most common well intervention application. It is a complex process and requires pumping a fluid or gasses into the well.
Weatherford International Inc
Calfrac Well Services Ltd.
Cudd Energy Services
Superior Energy Services Inc
Trican Well Service Ltd
C&J Energy Services, Inc
Key Topics Covered:
1 Methodology and Scope
2 Executive Summary
3 Coiled Tubing Market Variables, Trends, & Scope
4 Coiled Tubing Market: Service Estimates & Trend Analysis