New York
City, 22 January 2019: The
Report Coiled Tubing Market is anticipated to reach over USD 5,694
million by 2026 according to a new research published by Polaris Market
Research. In 2017, the onshore location segment dominated the global market, in
terms of revenue. North America is expected to be the leading contributor to
the global market revenue during the forecast period.
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significant growth in demand for energy, increasing industrialization, and
rising demand for horizontal drilling are major factors driving the growth of
the Coiled Tubing Market. The demand for coiled tubing is increasing owing to
supportive government initiatives, and favorable regulatory framework. Other
driving factors include growing demand for natural gas as a fuel and growth in
exploration and production activities. Increasing demand from developing
nations, development of unconventional oil blocks, and technological
advancements are expected provide numerous growth opportunities to the market
players during the forecast period.
Competitive Landscape and Key Vendors:
North
America Coiled Tubing Market generated the highest revenue in 2017, and is
expected to lead the global market throughout the forecast period. The high
economic growth in the region, growth in drilling and exploration industries,
and growing energy demand are factors expected to drive the market growth. The
increasing trend of horizontal drilling, increasing demand for oil and gas in
production of power and transportation applications, growing urbanization, and
increasing industrialization in countries of North America are further expected
to support the Coiled Tubing Market growth. Rising shale gas
explorations, increasing operating cost for extracting oil from existing wells,
rising demand for natural gas as fuel in the region, and supportive regulatory
framework are factors expected to further provide growth opportunities during
the forecast period.
Well-known companies profiled in the Coiled
Tubing Market report include Halliburton
Co., Weatherford International Ltd., Baker Hughes, Trican Well Service Ltd,
Cudd Energy Services, Schlumberger Ltd., Calfrac Well Services Ltd., C&J
Energy Services, Inc., Nabors Industries Ltd., and Archer Limited. These
companies launch new products and collaborate with other market leaders to
innovate and launch new products to meet the increasing needs and requirements
of consumers.
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