Coiled Tubing Market expected to generate a revenue of $2.49 billion by 2023 with a CAGR of 3.63%.
HYDERABAD, TELANGANA, INDIA, June 20, 2018 /EINPresswire.com/ — According to the new market research report by IndustryARC titled “Coiled Tubing Market By Service (Well Intervention & Production, Drilling); By Operation (Circulation, Pumping, Logging, Perforation and Others) & By Geography- Forecast(2018-2023)”, the market is driven by the increasing focus on the natural gas production.
Americas dominates the Coiled Tubing Market during the forecast period
Americas has a major share in the Coiled Tubing Market due to growing oil and gas refineries in the region. It is expected to generate a revenue of $2.49 billion by 2023 with a CAGR of 3.63%. Well intervention and production services through coiled tubing will dominate the Coiled Tubing Market during the forecast period. The shutdown of active regions in the region also bolsters the demand for coiled tubing. The adoption of advanced techniques of the oil and gas extraction from the shale reserves such as horizontal drilling, acidizing and simulation, will drive the growth of the market.
Middle Eastern and African countries are expected to be the fastest growing regions during the forecast period. Middle East has the largest reserve of 802.85 billion barrels which makes it the largest producer of crude oil, while Africa accounted for 128.04 billion barrels in 2015.
Selected Analysis done in the full Report:
Coiled tubing is used in the circulation of chemicals and water for removing sand or filling from a well bore which blocks the fluid flow through the bore, declining oil and gas production. The fill material which is deposited in the bore wells may contain sands, fines, gravel pack failures, etc.. In conventional circulation, fluid is circulated at high pressure through a nozzle which is attached to the end of the coiled tubing string. This fluid at high pressure drags entrains the depositions and is sent out through the well bore production annulus. In reverse circulation, the fluids are pumped through the production annulus and the fill materials are sent out through the coiled tubing string. This technique is used for removing huge quantities of sand from the well bore.
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Excerpts on Market Growth Factors
The growing demand for energy and recoverable resources drives the growth of the coiled tubing tools.
Fluctuation in crude oil prices leads to a rising demand for cost effective intervention methods, which enhances the demand for CT services.
Unconventional hydrocarbon recovery enhances the growth of CT technology.
Increasingly deviated drilling trajectories are set to drive the Coiled Tubing Market.
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Key players of the Coiled Tubing Market
The top companies of the Coiled Tubing Market include Schlumberger Ltd, Halliburton Co, Baker Hughes Inc, Superior Energy, Cudd Pressure Control, Key Energy Services, and Calfrac Well Services. Schlumberger consists of principal technologies involved in drilling and positioning of oil and gas wells. Halliburton Co has launched SpectrumSM Real-Time Coiled Tubing Services. Baker Hughes provides intervention solutions that can manage costs and reduce risks by permanent monitoring and intelligent production systems. Key Energy Services provides transportation, well site storage services, and disposal services for fluids.
Coiled Tubing Market is segmented as below
Growing oil and gas industry enhances the demand for the Coiled Tubing Market in the coming years.
A. Coiled Tubing Market By Services
2. Well Intervention & Production
B. Coiled Tubing Market By Operations
C. Coiled Tubing Market By Geography (covers 12+ countries)
D. Coiled Tubing Market By Market Entropy
Companies Citied / Interviewed
1. ARCHER LIMITED
2. BAKER HUGHES INC
3. CUDD ENERGY SERVICES
4. CALFRAC WELL SERVICES LTD
5. SUPERIOR ENERGY SERVICES
6. SCHLUMBERGER LIMITED
7. SURGUTNEFTEGAZ OAO
8. HALLIBURTON COMPANY
9. KEY ENERGY SERVICES
10. ESSENTIAL ENERGY SERVICES
A.Retail Oil and Gas Equipment Market
B.DIN Rail Power Supply Market
What can you expect from the report?
The Coiled Tubing Market Report is Prepared with the Main Agenda to Cover the following 20 points:
1. Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
2. Market trends & Relevant Market Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
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Source: EIN Presswire