Skip to main content

Global Coiled Tubing Market Growth, Outlook Till, 2018-2027

The global coiled tubing market size is expected to reach USD 4.72 billion by 2027, expanding at a CAGR of 4.8% over the forecast period, according to a new report by Grand View Research, Inc. The market is expected to grow on account of increasing need to maximize oil and gas output from existing oil and gas wells. Rising demand for primary energy for transportation, power generation, and household activities has resulted in increased consumption of oil and gas in major economies. As a result, there are increasing investments in exploration and production activities in unconventional oil and gas reserves.
Coiled Tubing (CT) plays a significant role in enabling upstream oil and gas players to produce oil in a cost effective way. It can be used on live wells as the product can be inserted into the well while the oil and gas production is ongoing. Moreover, there are number of well intervention operations such as well completion and well cleaning that can be performed in a cost effective way through utilization of coiled tubing. It can endure greater tensile and compressive forces when perforating highly deviated and horizontal wells.
North America was the largest regional market for coiled tubing in 2019. The region is predicted to maintain its dominance in the forthcoming years. Significant boost in the production of tight oil particularly in U.S has resulted in significant rise in demand for coiled tubing. Canada is yet another prominent regional market, as there are number of deviated wells in the country, for which CT is largely used for well intervention and drilling services.
The top three players in the global coiled tubing market include Halliburton, Baker Hughes Company, and Schlumberger Limited. These companies gain competitive edge in oilfield service market as the oil and gas exploration and production companies are aiming to minimize cost of production through innovative technologies like coiled tubing.
Further key findings from the report suggest:
• North America is expected to register the fastest CAGR of 5.5% in terms of revenue, from 2020 to 2027, owing to accelerating production of tight oil in the country
• Well intervention service is estimated to exhibit the fastest CAGR of 5.0%, in terms of revenue from 2020 to 2027. The growth is attributed to rising demand from oil and gas producers to maximize production from the existing wells
Labels:

Comments

Post a Comment

Popular posts from this blog

Functional Tea Market is expected to boost the growth of the market over the forecast period.

Functional Tea refers to a series of teas that can contribute to bodily functions. In 2019, the market size of Functional Tea is xx million US$ and it will reach xx million US$ in 2025, growing at a CAGR of xx% from 2019; while in China, the market size is valued at xx million US$ and will increase to xx million US$ in 2025, with a CAGR of xx% during forecast period. Download Request sample copy -  https://www.innovationmarketresearch.com/market-reports/functional-tea-market/request-sample In this report, 2018 has been considered as the base year and 2019 to 2025 as the forecast period to estimate the market size for Functional Tea. This report studies the global market size of Functional Tea, especially focuses on the key regions like United States, European Union, China, and other regions (Japan, Korea, India and Southeast Asia). This study presents the Functional Tea sales volume, revenue, market share and growth rate for each key company, and also covers the breakdown data (sal...
Post a Comment
Read more

Global oriented strand board (OSB) market size was estimated over USD 8.0 million in 2014.

Global oriented strand board (OSB) market size was estimated over USD 8.0 million in 2014. The growing substitution of plywood by OSB in applications such as residential construction and commercial sector is expected to have a positive impact on market demand. The high strength to weight ratio and easy installation advantages provided by oriented strand board are driving market growth of these products. This product is consumed for both non-structural and structural applications such as shelving, pallet manufacture, frames, furniture, industrial tabletops, dry storage pallets, packaging and crafting. Technological advancements in countries such as Brazil, Russia, China, and India for the development of new products is anticipated to create new growth avenues over the forecast period. Download Free Sample  -  https://www.millioninsights.com/industry-reports/oriented-strand-board-osb-market/request-sample Increasing consumption of office furniture and home furniture is likely to...
Post a Comment
Read more

Global Varied Color Lipstick Market Growth and Forecast, 2018 -2028 : Radiant Insights, Inc

In the context of China-US trade war and global economic volatility and uncertainty, it will have a big influence on this market. Varied Color Lipstick Report by Material, Application, and Geography - Global Forecast to 2023 is a professional and comprehensive research report on the world's major regional market conditions, focusing on the main regions (North America, Europe and Asia-Pacific) and the main countries (United States, Germany, United Kingdom, Japan, South Korea and China). Download Free Sample Copy  -  https://www.radiantinsights.com/research/global-varied-color-lipstick-market-research-report-2020-2024/request-sample In this report, the global Varied Color Lipstick market is valued at USD XX million in 2020 and is projected to reach USD XX million by the end of 2024, growing at a CAGR of XX% during the period 2020 to 2024. The report firstly introduced the Varied Color Lipstick basics: definitions, classifications, applications and market overview; product specif...
Post a Comment
Read more