Global Coiled Tubing Market 2016-2021 - Service (Well Intervention, Drilling, Production Services) & Operation (Circulation, Pumping, Logging, Perforation) Analysis - Research and Markets
Research and Markets has announced the addition of the "Coiled
Tubing Market - By Service (Well Intervention, Drilling, Production
Services); By Operation (Circulation, Pumping, Logging, Perforation and
Others); By Geography (Americas, Europe, APAC, RoW) - Forecast
(2016-2021)" report to their offering.
Coiled tubing (CT) in the oil and gas industries is used for
interventions in oil and gas wells, drilling them and occasionally as
production tubing in exhausted gas wells. Coiled tubing is frequently
used to perform processes identical to wire lining. The main benefits of
CT services over wire line are the capacity to pump chemicals through
the coil and the ability to thrust it into the hole.
The Oil & Gas industry employs coiled tubing for cost- and
time-effective solutions of well intervention and drilling operations.
The coiled tubing is an incessant length of composite tubing that is
supple enough to be coiled on a huge roll for conveyance. Escalating
demand for recoverable resources and augmented exploration, production,
and completion activities are the key drivers that propel the growth in
the coiled tubing services market. CT services are used to enhance both
oil and natural gas production; hence, increasing focus on natural gas
production is another main driver for the CT services to grow.
The market for coiled tubing can be divided into well intervention,
drilling and production services based on the service type being
deployed in the industry. Well intervention services can be segmented
into well cleaning and well completion services. Rising demand of these
services is projected to drive the global coil tubing market in future.
Some of the operations that this industry caters to are circulation,
perforation, logging, pumping and others.
Increasing shale gas undertakings alongside expansion of Oil and Gas
ventures would relatively reduce the impact of the steep decline in the
Oil reserves in established fields. The coiled tubing market is getting
its market share mainly from four regions they are North America,
Europe, APAC, and RoW.
The American region remains the largest market for coiled tubing,
followed by Europe, Asia-Pacific, and the Middle East in 2015. The
recent shale gas expansions in the U.S have drove the explorations
events in this region, thereby increasing the market for CT services.
The Middle East and Africa market remains to be a key growing area due
to cumulative demand from innovative technology in the oil & gas
industry coupled with new investments. The development of new fields in
this region also delivers a thrust, thereby propelling the coiled tubing
market in these regions.
Upcoming developments in offshore drilling and immense shale exploration
and production activities are high-prospect areas for the coiled tubing
market. Mounting demand for energy and growing spending on exploration &
production are key growth drivers for the CT market.
North America is expected to continue its dominance in the coiled tubing
market in 2016 as well. This supremacy is seen largely due to constant
and huge increase in the U.S. exploration and production activities.
Some of the key players profiled in the report include:
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Baker Hughes Inc. (The U.S.)
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Halliburton Corp. (The U.S.)
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Schlumberger ltd. (The U.S.)
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Weatherford International Ltd. (The U.S.) to name among a few others.
For more information visit http://www.researchandmarkets.com/research/s5d4vt/coiled_tubing
View source version on businesswire.com: http://www.businesswire.com/news/home/20160728005830/en/
Copyright Business Wire 2016
Source: Business Wire
(July 28, 2016 - 8:17 AM EDT)
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