November 21, 2019
According to the research report titled ‘Global Coiled Tubing (CT) Market: Analysis By Active CT Fleet, Application (Well Intervention, Drilling, Completion), Location (Onshore, Offshore), By Region, By Country (2018 Edition) Forecast to 2023’ available with Market Study Report LLC, the global coiled tubing (CT) market is expected to grow with a CAGR of 3.58% during the period of 2018-2023.
The global coiled tubing (CT) market is expected to expand in the upcoming years on account of shifting preference towards renewable energy among the consumers, along with increased production of energy in emerging nations. Additionally, escalating investments in shale oil and improvement in crude oil prices will further augment the market growth.
However, slow revival of crude oil prices, restrained funding, and reduced production of oil and gas are hampering the expansion of coiled tubing market to some extent, claims the report.
Notably, the report discusses the potential growth opportunities in the global coiled tubing market. It also provides crucial statistics on revenue shares for each segment. The study further aims to deliver top-notch business information and help investors to evaluate their investments thoroughly. Information pertaining to competitive landscape of market, alongside the market trends is also encompassed.
As per application spectrum, CT market is segmented into drilling, well intervention, and completion, in which well intervention segment is presumed to gain lucrative growth opportunities during the forecast period. Based on location, the market is divided into offshore and onshore.
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Considering the geographical locations, the global coiled tubing market is divided into regions, namely Europe, North America, South America, APAC, and Middle East, with key focus on countries such as Canada, US, Mexico, Venezuela, Brazil, Norway, UK, China, Russia, Indonesia, India, Iran, Saudi Arabia, and Nigeria. The report cites that North America led the global CT market in 2018.
The key players in the global CT market are Baker Hughes, Schlumberger, Weatherford International Inc., Halliburton, Archer Limited, Cudd Energy Services, Calfrac Well Services Ltd., Trican Well Ltd., Superior Energy Services Inc., and C&J Energy Services Inc.
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