Thursday 15 January 2015, Amsterdam
$ The report, now available on ASDReports, "Coiled Tubing Market by Services [(Well Intervention (Well Completion & Well Cleaning) & Drilling], Active Fleet & by Geography - Global Trends & Forecast to 2019", defines and segments the coiled tubing market with analysis and forecasting of the global services revenue and active fleet. It also identifies driving and restraining factors for the coiled tubing market with an analysis of trends, opportunities, burning issues, and winning imperatives.
The market is segmented and revenues are forecasted on the basis of regions, such as North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Coiled Tubing Market by Services is projected to grow from an estimated value of $3 billion in 2014 to $4.3 billion by 2019 at a CAGR of approx. 7 - 8% from 2014 to 2019.
The major drivers for the increase in coiled tubing market are increased spending in oil & gas projects, redevelopment of the matured fields, discoveries of the new reserves, and increasing shale gas projects. The oil reserves of the mature fields are steeply declining and are a major concern among the production companies and the service providers. The decline in oil & gas production, increasing operating cost, and challenges due to the aging facilities are also responsible for the boost in coiled tubing market across the globe.
The key countries are covered and forecasted for each region. Further, the market is segmented and revenues are forecasted on the basis of major types of services, such as well intervention, drilling, and others. In order to provide a deeper understanding of the competitive landscape, the report profiles 14 companies in the coiled tubing market.
North America - Coiled Tubing Market Revenue is Expected to Grow Marginally in the Next Five Years
North America is the largest market for coiled tubing by value and by active fleet count. The region which did fairly well in the last 10 years accounted for nearly half of the total revenue in 2013. In North America, the U.S. holds a major share of the active fleet count of more than 59% active fleet count in 2013. Due to the increase in the shale activities in the region there is growth of ultra-deep coiled tubing services.
Coiled Tubing Well Intervention - Major Service Type for the Coiled Tubing Market
Coiled tubing services are categorized into three-well intervention, drilling, and others. Well intervention service is the major category by market size by value. These services include well cleaning and well completion services, such as acid and chemical treatments, fishing, logging and perforation, fracturing, removal of sand, wax, and other plugs, scale removal, high-pressure jet washing, nitrogen pumping, and others. The key advantages of CT technology over conventional technologies include ability to safely work on a live well without having to kill it and increased speed of operations in a well.
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