Global Coiled Tubing Market Outlook 2025-2034: Growth Drivers, Share, And Trends

The Business Research Company's Coiled Tubing Global Market Report 2025 – Market Size, Trends, And Global Forecast 2025-2034

LONDON, GREATER LONDON, UNITED KINGDOM, June 27, 2025 /EINPresswire.com/ -- In recent years, the coiled tubing market has seen strong growth, with projections predicting the market size will grow from $3.95 billion in 2024 to $4.31 billion in 2025. This demonstrates a compound annual growth rate CAGR of 9.2%. Key factors driving this growth can be attributed to the global oil and gas exploration boom, the cost-effective nature of coiled tubing, and increased demand for well intervention.

What Are The Growth Projections For The Coiled Tubing Market?
Across the next few years, the coiled tubing market is projected to grow exponentially. Projections show that market size is set to reach $9.09 billion by 2029, illustrating an impressive compound annual growth rate CAGR of 20.5%. This forecasted growth can be attributed to ongoing energy demand, unconventional resource extraction, various environmental and regulatory factors, and global economic trends.

A closer look at the trends predicted in this forecast period includes developments in technology, a growing focus on digitalization and data analytics, and a permanent shift towards prioritizing sustainability. There is an expectation of increased remote operations, market expansion into emerging economies, and strategic collaborations. Additionally, insight suggests an increased adoption of coiled tubing in non-oil applications.

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What Are The Drivers Of Growth In The Coiled Tubing Market?
Growing worldwide demand for oil and gas is a significant factor expected to propel the growth of the coiled tubing market. As the demand for these resources increases, there will simultaneously be a need to improve and revamp existing oilfields. The coiled tubing unit is a resource utilized in a variety of applications, including well cleanouts, drilling and milling, gas lifting, fishing, drainage, high freezing point oil plugging removal, and plugging removal.

Who are the key industry players in the coiled tubing market?
This market features several major companies, including Halliburton Company, Schlumberger NV, Baker Hughes Company, Weatherford International PLC, Oceaneering International Inc., Trican Well Service Ltd., Legend Energy Services, Superior Energy Services Inc., Basic Energy Services Inc., NexTier Oilfield Solutions LLC, Global Tubing LLC, Webco Industries, Sanjel Energy Services, Condor Energy Services, Archer Ltd., NOV Inc., Hunting Energy Services Inc., Cudd pressure control Inc., Nine Energy Service, Liberty Energy, Canyon Services Group Inc., Essential Energy Services Limited, Precision Drilling Corporation, Patterson-UTI Energy, Nabors Industries Limited, Ensign Energy Services Inc., Step Energy services.

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What Emerging Trends Are Seen In The Coiled Tubing Market?
In order to maintain a competitive edge, key companies in the coiled tubing market are exploring innovations such as the use of specialized equipment or systems, otherwise known as space-saving coiled tubing CT. This is designed for more efficient deployment and management of coiled tubing within oil and gas industries among others.

How Is The Coiled Tubing Market Segmented?
The coiled tubing market report offers a detailed segmentation of the market:

1 By Service Type: Well Intervention, Drilling service, Perforating, Fracturing, Milling services
2 By Operation: Logging, Pumping, Circulation, Other Operations
3 By Application Type: Onshore, Offshore

Subsegments:
1 By Well Intervention: Well Cleaning, Logging Services, Fishing Services
2 By Drilling Service: Extended Reach Drilling, Managed Pressure Drilling, Underbalanced Drilling
3 By Perforating: Conventional Perforating, Composite Perforating, Intelligent Perforating
4 By Fracturing: Hydraulic Fracturing, Acid Fracturing, Foam Fracturing

What Are The Regional Insights For The Coiled Tubing Market?
In 2024, North America was the largest region in the coiled tubing market and is predicted to be the fastest-growing region. Other regions reported in the coiled tubing market include Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.

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