Coiled Tubing Services Market: Break on Manufacturing Facilities and Services to Diminish Business
Key companies covered in coiled tubing services market are Schlumberger (Texas, US), Baker Hughes, a GE Company (Texas, US), Halliburton (Texas, US), C&J Energy Services (Texas, US), Key Energy Services (Texas, US), Archer – the well company (Rogaland, Norway), Essential Coil (Calgary, Canada), COSL – China Oilfield Services Limited (Dongcheng District, Beijing), National Oilwel, Varco (Texas, US), National Energy Services Company (Tarshid), BJ Services (Texas, US) and others
Pune, India, Aug. 16, 2021 (GLOBE NEWSWIRE) — The global coiled tubing services market size is expected to reach USD 6.73 billion by 2027, exhibiting a CAGR of 5.3% during the forecast period. The surging intervention services in onshore and offshore platforms is expected to spur opportunities for the market during the forecast period, states Fortune Business insights, in a report, titled “Coiled Tubing Services Market Size, Share & COVID-19 Impact Analysis, By Service (Well Intervention (Well Completion and Well Cleaning) and Drilling), By Application (Onshore and Offshore), and Regional Forecast, 2020-2027.” The market size stood USD 5.52 billion in 2019.
The list of key players are as follows
- Schlumberger (Texas, US)
- Baker Hughes, a GE Company (Texas, US)
- Halliburton (Texas, US)
- C&J Energy Services (Texas, US)
- Key Energy Services (Texas, US)
- Archer – the well company (Rogaland, Norway)
- Essential Coil (Calgary, Canada)
- COSL – China Oilfield Services Limited (Dongcheng District, Beijing)
- National Oilwell Varco (Texas, US)
- National Energy Services Company (Tarshid)
- BJ Services (Texas, US)
- Global Tubing, LLC (Texas, US)
- Calfrac Well Services (Calgary, Canada)
- Basic Energy Services (Texas, US)
- Superior Energy Services (Texas, US)
- Antech (United Kingdom)
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR | 5.3 % |
| 2027 Value Projection | USD 6.73 Billion |
| Base Year | 2019 |
| Market Size in 2019 | USD 5.52 Billion |
| Historical Data for | 2016 to 2018 |
| No. of Pages | 120 |
| Segments covered | Size, Share , Service, Application, Geography |
| Growth Drivers | Strong Global Economic Growth to Underpin Oil Demand |
| Advancements in Shale Oil Extraction to Spur Market Demand | |
| Growing Demand for Well Intervention Operations to Drive the Market | |
| Pitfalls & Challenges | Volatility in Crude Oil Prices and High Maintenance Cost Restraints the Market Growth |
The coronavirus incident has brought the world to an unanticipated halt. We understand that this health disaster has negatively impacted various sectors across the globe. Rising support from governments and several companies can help in the fight against this highly infectious virus. There are some industries that are struggling and some are thriving. More or less, nearly every sector is estimated to be impacted by this pandemic.
We are making endless efforts to uplift businesses in this crucial need of the hour. Our expertise and experience can offer enormous benefits to help regain during this global pandemic.
Click here to get the short-term and long-term impact of COVID-19 on this Market.
Please visit: https://www.fortunebusinessinsights.com/industry-reports/coiled-tubing-service-market-101343
The report on coiled tubing services market contains:
- Grander insights into the market
- Precise data with thorough research
- Market dynamics and factors exhibiting market growth
- Detailed information about the eminent players
- COVID-19 impact
Market Driver:
Substantial Investments in E&P and Hydrocarbon Activities to Foster Growth
The rising oil demand has led to heavy investment in drilling operations, in turn, boosting the growth of the market. The surging economic development is expected to create opportunities for the market during the forecast period. The rising utilization of coiled tubing in well intervention activities and drilling operations will further stimulate the growth of the market for coiled tubing services. The growing knowledge about the effective production method of coiled tubing to produce large amounts of oil and gas will have an excellent impact on the market. Moreover, the growing production of hydrocarbon is expected to further fuel the demand for the market in the foreseeable future.
Request a Sample Copy of Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/coiled-tubing-service-market-101343
COVID-19 to Adversely Impact Global Market
The oil and gas industry has witnessed a massive drop in revenue due to the occurrence of coronavirus. As per the International Energy Agency, oil demand has decreased by 29 million barrels per day (BPD) in April 2020 and by 23.1 million BPD in the second quarter. The shut-down of manufacturing facilities and services because of lockdown enactment in several nations, thus restricting the supply of oil and gas and inhibiting the market growth. For instance, Aker Solutions has laid off 650 employees in the UK and Norway and a further notice has been issued for temporary layoffs of up to 6,000 in Norway.
Regional Analysis:
Rising Oil Production to Boost Market in North America
Geographically, the global market for coiled tubing services is divided into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is expected to dominate the global market owing to its potential for natural gas, shale gas, tight gas reserves, and oil production. As per the IEA report 2018, the United States covered 80% of the world’s energy demand growth. The market in Asia Pacific is expected to witness a significant growth rate owing to the ever-increasing oil and gas demand in developing countries. The implementation of new policies and regulations will further aid expansion in the region. The IEA reports state that the world oil demand is estimated to increase by 6.9mb/d by 2023 at an average of 1.2mb/d a year.
Quick Buy Coiled Tubing Services Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/101343
Key Development:
March 2020: Uzma Group, a Malaysian oil and gas services company was awarded three contracts worth USD 38.35 million through its units in Malaysia and Thailand. The contract includes well plug and abandonment (P&A) and coil tubing services
Major Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Industry SWOT Analysis
- Porters Five Forces Analysis
- Qualitative Analysis – Impact of COVID-19
- Impact of COVID-19 on the Coiled Tubing Services Market
- Steps Taken by the Government to Overcome the Impact
- Key Developments by Industry Players in Response to COVID-19
- Potential Opportunities and Challenges due to COVID-19 Outbreak
- Global Coiled Tubing Services Market Analysis (USD Billion), Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Service
- Well Intervention
- Well Completion
- Well Cleaning
- Drilling
- Well Intervention
- Market Analysis, Insights and Forecast – By Application
- Onshore
- Offshore
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
- North America Coiled Tubing Services Market Analysis (USD Billion), Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Service
- Well Intervention
- Well Completion
- Well Cleaning
- Drilling
- Well Intervention
- Market Analysis, Insights and Forecast – By Application
- Onshore
- Offshore
- Market Analysis, Insights and Forecast – By Country
- US
- Canada
Speak To Our Analyst: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/coiled-tubing-service-market-101343
Have a Look at Related Research Insights:
Aviation Gasoline (Avgas) Market Size, Share and COVID-19 Impact Analysis, By End-User (Private, Commercial, and Military), and Regional Forecasts, 2021-2028
Static and Rotating Equipment Market Size, Share & COVID-19 Impact Analysis, By Type (Static Equipment {Heat Exchangers, Boilers, Furnaces, Valves, Others}, Rotating Equipment {Pumps, Compressors, Turbines, Others}), By Application (Upstream, Midstream, Downstream), By Location (Onshore, Offshore) and Regional Forecast, 2021-2028
Drilling Services Market Size, Share & COVID-19 Impact Analysis, By Service (Directional Drilling {Measurement While Drilling, Logging While Drilling, Rotary Steerable System, Gyro Drilling, Magnetic Drilling, and Others} and Non-Directional Drilling), By Application (Onshore and Offshore {Shallow Water, Deepwater, and Ultra-Deepwater}), By End-User (Oil & Gas, Mining, Water Exploration, and Others), and Regional Forecast, 2020-2027
Fuel Dispenser Market Size, Share & COVID-19 Impact Analysis, By Fuel Type (Petrol/Gasoline, Diesel, CNG, and Others), By Dispenser System (Submersible System and Suction System), By Flow Meter (Mechanical and Electronic), and Regional Forecast, 2020-2027
Oilfield Services Market Size, Share & COVID-19 Impact Analysis, By Type (Equipment Rental, Field Operation, and Analytical Services), By Service (Geophysical, Drilling, Completion & Workover, Production, and Processing & Separation), By Application (Onshore and Offshore {Shallow Water, Deepwater, Ultra-Deepwater}), and Regional Forecast, 2020-2027
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all s
izes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™, we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune – 411045, Maharashtra, India.
Phone:
US:+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Fortune Business Insights™
LinkedIn | Twitter | Blogs
Read Press Release: https://www.fortunebusinessinsights.com/press-release/coiled-tubing-service-market-9327
