Global Coiled Tubing Services Market 2017-2021

Overview of the global coiled tubing services market

Technavio’s research analysis on the global coiled tubing services market has identified the introduction of new exploration policies as one of the major factors that will have a positive impact on this market’s growth till 2021. To attract companies to focus on exploring their oil and gas fields, countries such as Brazil, India, and Israel have made significant changes to their oil and gas exploration policies. For instance, to boost investments in the oil and gas industry, the federal government of Brazil introduced a change in its policies in 2017. According to the new policy, the minimum local content required for drilling operations has been significantly lowered to 50% for exploration and onshore development and 18% for offshore areas with a depth greater than 100 meters. The changes in policies by countries around the globe, will attract new investments from the global players, which will in turn, drive the growth of the market for the coiled tubing services. Technavio’s market research analysts predict that this market will post a revenue of almost USD 2.5 billion by 2021.

The rise in deep and ultra-deepwater drilling projects is one of the key trends that will gain traction in the coiled tubing services market in the coming years. British Petroleum recently initiated a major deepwater project, Thunder Horse South Expansion, in the Gulf of Mexico., which is likely to increase the production of crude oil for the company. With the growing number of ultradeep water drilling and production projects, the demand for coiled tubing services will comsequenrly increase in the coming years.

Competitive landscape and key vendors  

The coiled tubing services market consists of large players who account for the maximum shares of the market. The market also comprises of several local and regional companies who offer oilfield services. To sustain the competition and improve their revenue shares, the vendors in this marketspace focus on following strategies such as M&A activities, joint ventures, contracts, agreements, and partnerships.

The leading vendors in the market are –

• Archer
• Baker Hughes
• Halliburton
• Schlumberger
• Superior Energy Services

The other prominent vendors in the market are C&J Energy Services, Calfrac Well Services, Cudd Energy Services, Essential Energy Services, Key Energy Services, Nabors Industries, RPC, Trican Well Service, and Weatherford.

Segmentation by application and analysis of the coiled tubing services market

• Onshore
• Offshore

During 2016, the onshore application segment accounted for the major shares of the coiled tubing services market. Factors such as the increase in drilling activities, the high focus on unconventional reserves such as tar sands and shale gas, and the increase in demand for energy across the globe, will contribute to the growth of this industry segment in the coming years.

Geographical segmentation and analysis of the coiled tubing services market

• Americas
• APAC
• EMEA

This market study estimates that in terms of geographic regions, the Americas will be the major revenue contributor to the coiled tubing services market throughout the forecast period. The continuous increase in oil demand from the transportation sector in countries such as the US and Canada and the rise in drilling activities, will drive the need for coiled tubing services in this region.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global coiled tubing services market?
• What are the key market trends impacting the growth of the global coiled tubing services market?
• What are the challenges to market growth?
• Who are the key vendors in the global coiled tubing services market?
• What are the market opportunities and threats faced by the vendors in the global coiled tubing services market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global coiled tubing services market?

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