Coiled Tubing Services Market Analysis, Growth by Top Companies, Trends by Types and Application, Forecast to 2024prinformation | March 27, 2019 | 0 | ICT Media
Coiled Tubing Services Market 2019-2024
According to this study, over the next five years the Coiled Tubing Services market will register a 7.6% CAGR in terms of revenue, the global market size will reach US$ 5460 million by 2024, from US$ 3510 million in 2019. In particular, this report presents the global revenue market share of key companies in Coiled Tubing Services business, shared in Chapter 3.
Coiled tubing refers to a continuous length of small-diameter steel pipe and related surface equipment as well as associated drilling, completion and workover, or remediation, techniques. Coiled tubing oilfield technology was initially developed for working on live, producing wells.
Coiled tubing technology is frequently used to deploy tools and materials through production tubing or casing while remedial work is performed on producing wells. Coiled tubing fulfills three key requirements for downhole operations on live wells by providing a dynamic seal between the formation pressure and the surface, a continuous conduit for fluid conveyance and a method for running this conduit in and out of a pressurized well.
Coiled tubing strength and rigidity, combined with its capability to circulate treatment fluids, offer distinct advantages in workover operations. In addition to drilling and completion operations, oil and gas companies are using coiled tubing to help fish for lost equipment and for conveying well logging tools.
Rise in exploration & production activities globally is anticipated to boost the market over the forecast period. Mounting demand for the oil and gas in transportation, power production, and other application activities, had led to the growth in the consumption of primary energy sources.
The global market is moderately consolidated. It experiences the presence of giant and large number of key industry participants across the value chain. Major companies operating in the market comprises of multinational conglomerates which includes E&P companies, individual equipment & oilfield service corporations, microseismic and proppants companies. The key players are Schlumberger, Halliburton, Baker Hughes GE , Weatherford, Superior Energy, Archer, Calfrac Well Services, Cudd Energy Services RPC , National Oilwell Varco, Pioneer Energy Services, PT Elnusa Tbk, Legend Energy, Smape S.r.l., Jereh Group and so on.
The market is growing at a very rapid pace and with rise in technological innovation, competition and M&A activities in the industry many local and regional vendors are offering specific application products for varied end-users. The new manufacturer entrants in the market are finding it hard to compete with the international vendors based on quality, reliability, and innovations in technology.
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The industry is expected to remain innovation-led, with frequent acquisitions and strategic alliances adopted as the key strategies by the players to increase their industry presence. Market stays in mature period with a clear concentration.
Significant and lasting barriers make entry into this market difficult. These barriers include, but are not limited to: i product development costs; ii capital requirements; iii intellectual property rights; iv regulatory requirement; and v Transitions’ unfair methods of competition.
Despite the presence of competition problems, due to the global recovery trend is clear, investors are still optimistic about this area, the future will still have more new investment enter the field. Even so, the market is intensely competitive .The study group recommends the new entrants just having money but without technical advantage and upstream and downstream support do not to enter into this field.
This report presents a comprehensive overview, market shares and growth opportunities of Coiled Tubing Services market by product type, application, key companies and key regions.
This study considers the Coiled Tubing Services value generated from the sales of the following segments:
Segmentation by product type: breakdown data from 2014 to 2019 in Section 2.3; and forecast to 2024 in section 10.7.
Segmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 10.8.
This report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.
Middle East & Africa
The report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market. The key manufacturers covered in this report: Breakdown data in in Chapter 3.
Baker Hughes GE
Calfrac Well Services
Cudd Energy Services RPC
National Oilwell Varco
Pioneer Energy Services
PT Elnusa Tbk
In addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key players and the market as a whole. It also analyzes key emerging trends and their impact on present and future development.
To study and analyze the global Coiled Tubing Services market size by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.
To understand the structure of Coiled Tubing Services market by identifying its various subsegments.
Focuses on the key global Coiled Tubing Services players, to define, describe and analyze the value, market share, market competition landscape, SWOT analysis and development plans in next few years.
To analyze the Coiled Tubing Services with respect to individual growth trends, future prospects, and their contribution to the total market.
To share detailed information about the key factors influencing the growth of the market growth potential, opportunities, drivers, industry-specific challenges and risks .
To project the size of Coiled Tubing Services submarkets, with respect to key regions along with their respective key countries .
To analyze competitive developments such as expansions, agreements, new product launches and acquisitions in the market.
To strategically profile the key players and comprehensively analyze their growth strategies.
Name: Jennifer Daniel
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