DUBLIN, June 09, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/gxc3hg/coiled_tubing) has announced the addition of the "Coiled Tubing Market by Services (Well Intervention (Well Completion & Well Cleaning) & Drilling), Active Fleet & by Geography - Global Trends & Forecasts to 2020" report to their offering.
With the high demand for energy in the African, Middle Eastern, and Asian regions, there has been an increase in exploration activities.
This has enhanced the coiled tubing market, which is estimated to grow and reach approximately $4.4 Billion by 2020, at a CAGR of 6-7% from 2015 to 2020.
Coiled Tubing (CT) is a cost effective solution for numerous well workover and intervention applications, which can continuously circulate through the tubing, and the CT pressure control equipment used in treating live wells. The tool string at the bottom of the coil is called as Bottom Hole Assembly (BHA). It can be a simple jetting nozzle to pump chemicals or cement through the coil or large string of logging tools. The coiled tube is straightened before being inserted into a wellbore and is re-spooled back onto the reel after completion of the operation in the wellbore. Key CT service categories include well intervention services, including well completion &well cleaning, and CT drilling among others. Some of the key uses of CT include circulation, pumping, logging, perforation, and production.
Potential increase in recoverable resources and increased exploration, production, and completion activities are the most important drivers for the coiled tubing services market. CT services are used to enhance both oil and natural gas production, while these services are necessary for any type of well to complete it and enhance production. Increasing focus toward natural gas production also require CT services.
North American is the largest market for coiled tubing, followed by Europe. The Middle East and African market continues to be key growth area, given the increasing demand for innovative technology in terms of oil & gas application, which is backed by new investments in the market. Ongoing and upcoming developments in offshore drilling and massive shale exploration and production activities are high-opportunity areas for the coiled tubing market. Growing energy demand and increasing E&P spending are major drivers for the market.
North America is expected to continue its dominance in the CT market in 2015. This dominance is seen mainly due to continuous and large increment in the U.S. exploration and production activities. New and unconventional hydrocarbon recovery and its growth are important reasons for the growth of the coiled tubing market. North America has the highest market share because of favorable regulations in the region.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 CT Market, By Active Fleet
8 CT Market, By Services
9 CT Market, By Region
10 Competitive Landscape
11 Company Profiles
- Archer (Bermuda),
- Baker Hughes Inc. (U.S.),
- Calfrac Well Services Ltd (Canada),
- C&J Energy Services Inc. (U.S.),
- Halliburton (U.S.),
- Key Energy Services Inc. (U.S.),
- Nabors Industries Ltd (Bermuda),
- RPC Inc. (U.S.),
- Sanjel Corporation (Canada),
- Schlumberger Ltd (U.S.),
- Superior Energy Services Inc. (U.S.),
- Trican Well Service Ltd (Canada), and
- Weatherford International Ltd (Switzerland),
For more information visit http://www.researchandmarkets.com/research/gxc3hg/coiled_tubing
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SOURCE Research and Markets