The global coiled tubing market revenue is valued at USD 2.9 billion in 2021.The global coiled tubing market revenue is expected to reach USD 4.5 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.3% over the forecast period of 2022 until 2030.
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The Bureau of Economic Analysis and the U.S. Census Bureau released a report on June 8, 2021, reporting that the U.S. market is recovering.The report also described a recovery in U.S. international trade in July 2021.In April 2021, the country’s exports reached $300 billion, an increase of $13.4 billion.In April 2021, imports were $294.5 billion, an increase of $17.4 billion.COVID19 remains a major concern for the global economy, as evidenced by the year-on-year decline in U.S. exports between April 2020 and April 2021, as well as higher imports over the same period.The market is clearly trying to recover.Nonetheless, this implies a direct impact on the healthcare/ICT/chemical industries, resulting in a huge market for coiled tubing.
Coiled Tubing is a long metal tube mainly used in production (live) wells.In addition to conventional applications such as well cleaning and acid stimulation, coiled tubing has a wider range of applications.Applications of this technology include coiled tubing drilling, hydraulic fracturing, deep-sea drilling, pipelines, and more.
A significant factor driving the growth of the global coiled tubing market is the increasing demand for conventional fuels in developing economies across the globe.Strict government regulation on environmental pollution of oil and gas products and rapid development of electric vehicle production are key factors that are likely to slow the growth of the global coiled tubing market.
The rapid transition from coal to gas power and the growing demand for natural gas in automobiles will provide lucrative growth opportunities for key players to maintain their positions in the global coiled tubing market in the coming years.
The COVID-19 pandemic has impacted the coiled tubing market by causing a temporary ban on import and export activities, as well as manufacturing and processing activities in various industries, reducing the demand for oil and gas products.Due to these factors, the global coiled tubing market growth declined in the second, third and fourth quarters of 2020.
However, the global coiled tubing market is expected to improve by the end of 2020.Globally, the COVID-19 vaccine is now available in various economies, which will lead to a better picture for the global coiled tubing market.
In terms of revenue, North America led the coiled tubing market in 2020 and is expected to maintain its dominance over the forecast period.This is due to the presence of key players and a large consumer base in the region.Moreover, the recent development of shale oil reserves in the country is expected to drive the coiled tubing market growth during the analysis period.Huge production and export of oil will drive the demand for coiled tubing services leading to market growth.
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Altus intervenes in Baker Hughes’ essential energy services.Incorporated Calfrac Well Services Limited DeepWell AS Expro Group Halliburton Corporation Hunting Energy Services, LLC Key Energy Services, LLC Oceaneering International, Incorporated Schlumberger Limited STEP Energy Services Superior Energy Services, Incorporated Trican Well Service Limited Weatherford International PLC WelTec
The global coiled tubing market segmentation focuses on operations, locations, applications, and regions.
Well Intervention, Flushing and Pumping Operations Completions and Mechanical Operations Drilling Others (fishing, fracturing, wireline logging and inspection) Area-based segmentation
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North America United States Canada Mexico Europe Western Europe United Kingdom Germany France Italy Spain Rest of Western Europe Eastern Europe Poland Russia Rest of Eastern Europe Asia Pacific China India Japan Australia and New Zealand ASEAN Rest of Asia Pacific Middle East and Africa (MEA) United Arab Emirates Saudi Arabia South Africa Rest of Middle East and Africa South America Brazil Argentina Rest of South America
• How has the COVID-19 pandemic impacted adoption by various pharmaceutical and life sciences companies?• What is the outlook for influencing the market during the forecast period 2021-2030?• What are the key trends affecting the market?How will they affect the market in the short, medium and long term?• What is the perception of end users?• What is the patent outlook for pharmaceutical quality?Which country has the highest number of patent filings between January 2014 and June 2021?• What are the key factors influencing the market?What is their impact in the short, medium and long term?• What are the key areas of opportunity for the impact market?What is their potential in the short, medium and long term?• What are the key strategies the company employs in the impact market?• What are the main application areas of the influencer market?Which application is expected to have the highest growth potential during the forecast period from 2021 to 2030?• What is the preferred deployment model for impact?What is the growth potential of the various deployment models that exist in the market?• Who are the main end users of pharmaceutical quality?What is their respective share of the impact market?• Which regional market is expected to hold the highest growth potential in the impact market during the forecast period 2021-2030?• Who are the key players in the influencer market?
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