Market Research ReportDec 2, 2022

Coiled Tubing Market

Coiled Tubing Market Research Report: Size, Share, Trend Analysis Service Type (Well Intervention, Drilling, Others), Application (Onshore, Offshore) and By Region (Middle East and Africa, North America, Asia Pacific, Europe, South America) - Growth Outlook & Industry Forecast To 2023

Vertical: EnPBase Year: 2017

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Executive Summary

Coiled Tubing Market — Snapshot

Market Size (2017)
$5.15B
Projected (2023)
$7.09B
CAGR (2016–2023)
4.2%
Key Players
9+

The demand for coiled tubing for applications, such as well intervention and drilling is growing rapidly owing to the various advantages, including improved oil production. Oil exploration companies are spending substantially on increasing the production through numerous steps including the use of coiled tubing.

The global coiled tubing market is projected to grow at 5.37% CAGR during the forecast period, 2018–2023. In 2017, the global coiled tubing market was led by North America with a 49.8% share, followed by Europe and Middle east & Africa with shares of 18.8 % and 17.7 %, respectively.

The global coiled tubing market has been segmented based on service type, application, and region. On the basis of service type, the market has been segmented into well intervention, drilling, and others. The well intervention is expected to grow at a faster rate during the forecast period. In 2017, the well intervention segment held 50.6% share of the global coiled tubing market. On the basis of application, the market has been segmented into onshore and offshore. The onshore segment is expected to grow at the faster rate during the forecast period. In 2017, the onshore segment held a 71.9% share of the global coiled tubing market.

Key Insight

The Coiled Tubing Market market is projected to grow at a CAGR of 4.2% from 2016 to 2023.

Market Performance Trend

Historical performance and future projections (2020–2030, USD Billion)

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Market Scope & Coverage

What this report covers

Geographic Coverage: This analysis covers 5 regions: Middle East and Africa, North America, Asia Pacific, Europe, South America.
Market Segmentation: The market is analyzed across 3 segments: Well Intervention, Drilling, Others. Forecasts are provided for each segment from 2016 to 2023.
Competitive Landscape: 9 leading companies are profiled, covering market positioning, strategies, and recent developments.

Market Size (USD Mn)

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Market Overview

Coiled Tubing Market — Growth Trajectory

Coiled tubing is a long metal pipe, which is welded into the tube form and are supplied on large reels. Coiled tubing is primarily used for pumping chemicals into the oil wells. Coiled tubing can be pushed into the oil well, which is a major feature of the product.

Coiled Tubing Market — Growth Trajectory

Well Intervention

Drilling

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Market Size Trend (USD Mn)

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Market Dimensions

How this market is segmented

Service Type is broken down into: Well Intervention, Drilling, Others.
Application is broken down into: Onshore, Offshore.

Geographic Analysis

Regional market breakdown

Middle East and Africa market size reached $908.77M in 2016 and is projected to reach $1.19B by 2023, growing at a CAGR of 4.0%.
North America market size reached $2.49B in 2016 and is projected to reach $3.67B by 2023, growing at a CAGR of 5.7%.

Asia Pacific market size reached $637.11M in 2016 and is projected to reach $717.63M by 2023, growing at a CAGR of 1.7%.
Europe market size reached $974.85M in 2016 and is projected to reach $1.22B by 2023, growing at a CAGR of 3.2%.
South America market size reached $312.39M in 2016 and is projected to reach $298.54M by 2023, growing at a CAGR of -0.6%.

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Research Methodology

Coiled Tubing Market — How We Researched This Market

This report applies a rigorous multi-stage research process combining primary interviews, secondary data sources, and bottom-up market modelling to ensure accuracy and completeness across all segments and geographies.

Base Year
2017
Historical Period
2016 – 2016
Forecast Period
2018 – 2023
Primary Interviews
150+

Research Process

Historical data (2016–2017) and forecast period (2017–2023)

Problem Definition

Market scoping
Objective setting
Framework design

Secondary Research

Literature review
Data mining
Trend analysis

Primary Research

Expert interviews
Field visits
Surveys

Data Analysis

Quantitative modeling
Statistical testing
Validation

Insights & Reporting

Synthesis
Recommendations
Visualization

Research Depth

Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.

Historical vs. Forecast Data

Historical (observed)

Forecast (modelled)

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Competitive Landscape & Porter's Five Forces

Coiled Tubing Market — Competitive Analysis

The global coiled tubing market is characterized by the presence of many global, regional, and local vendors. The market is highly competitive with all the players constantly competing to gain market share. Intense competition, rapid advances in technology, frequent changes in government policies, and stringent environmental regulations are some of the key factors that could restrain market growth. The vendors compete based on cost, product quality, reliability, and aftermarket services. It is crucial for vendors to provide cost-effective and efficient communication devices to survive and succeed in an intensely competitive market environment.

The growth of the market vendors is dependent on market conditions, government support, and industry development. Thus, the vendors should focus on expanding geographically and improving services. Schlumberger Limited, Halliburton, Weatherford, Baker Hughes, a GE Company, LLC, Nabors Industries Ltd, Superior Energy Services, Inc., Superior Energy Services, Inc., Calfrac Well Services Ltd, RPC, Inc., STEP Energy Services Ltd, and Key Energy Services, Inc. are some of the major companies in the market. These companies compete in terms of availability, quality, price, and technology. They are primarily focused on product development for coiled tubing in the global coiled tubing market. Although the international players are dominating the market, regional and foreign players with small market shares also have a significant presence. The international players may strengthen their presence in the global market by heavily investing in product development during the forecast period. The improvement of the global economic scenario, owing to the combined efforts to enhance infrastructure in emerging nations, is expected to fuel the market growth during the forecast period. This makes it an ideal time for the companies to offer coiled tubing solutions and increase their market shares, globally.

Quantitative Analysis

Regional Breakdown

Regional market breakdown for Coiled Tubing Market.

Regional Market Size (USD Mn)

Market estimates by geography (2023)

Middle East and Africa$1.19B

North America$3.67B

Asia Pacific$0.72B

Europe$1.22B

South America$0.30B

USD Mn

InsightNorth America leads with $3.67B by 2023.

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Regional Market Data

REGION	2016	2017	2023	CAGR	SHARE
Middle East and Africa	$908.77M	$1.03B	$1.19B	4.0%	17%
North America	$2.49B	$3.05B	$3.67B	5.7%	52%
Asia Pacific	$637.11M	$606.65M	$717.63M	1.7%	10%
Europe	$974.85M	$1.08B	$1.22B	3.2%	17%
South America	$312.39M	$262.59M	$298.54M	-0.6%	4%
Total	$5.33B	$6.03B	$7.09B	4.2%	100%

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Segment Revenue (2023)

Well Intervention

Drilling

Others

01345

Well Intervention52%
Drilling30%
Others18%

Total Market Size

$7.09B

Market by Segment (2023)

APPLICATION	REVENUE ($B)	GROWTH RATE	MARKET PENETRATION
Well Intervention	$3.69B	4.5%	52%
Drilling	$2.16B	4.1%	30%
Others	$1.24B	3.3%	18%

* Revenue projections based on 2025 estimates. Growth rates represent CAGR 2024–2030. Market penetration indicates current adoption rate within addressable market segments.

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Analytics

Coiled Tubing Market — Key Findings

Analytical insights on Coiled Tubing Market covering market dynamics, competitive landscape, and strategic outlook.

Key Analytical Findings

The Coiled Tubing Market market is projected to reach $7.09B by 2023, growing at 4.2% CAGR. The Well Intervention segment holds the largest share.

Market Dynamics

The global demand for coiled tubing is driven by the increasing capital spending in upstream operations and rising offshore production. Moreover, growing shale gas production across the globe has fueled the market growth. However, high technological complexity of coiled tubing manufacturing can restrain the growth of coiled tubing market.

Market Drivers

Coiled tubing is driven by the increasing capital spending in upstream operations, globally. It is being adopted due to its methodology of deploying various down-hole tools into a well. Coiled tubing is considered a simple Service Type with long composite pipe of different sizes with high elasticity to allow them to be coiled on a reel.

As per the International Energy Agency, in 2017, the global oil and gas upstream capital spending accounted for USD 430 billion. Algeria’s planned upstream oil projects, which are worth ~USD 58 billion; are expected to increase its production capacity by 20%. Under the plan, the government is expecting foreign investments and less political hindrances. Additionally, leading upstream companies are engaged in strategic developments, such as mergers & acquisition and contracts & agreements for increase its market share, globally. For instance, in the year 2016, Schlumberger acquired coiled tubing drilling and coiled tubing units from Xtreme Drilling and Coil Services Corp. (Canada). The acquisition would enable the company to have a large customer base. Furthermore, in 2017, Halliburton used Spectrum intervention services to obtain real-time downhole data to enable control of downhole motor performance with the help of real time coiled tubing data, which helped the company get the optimized milling performance. The project involves the use of coiled tubing to retrieve the unconventional oil fields in Saudi Arabia.

Such investments and strategic developments in the upstream oil & gas industry drive the global coiled tubing market.

Market Opportunities

Shale oil and gas drilling are growing aggressively, as in 2017, the shale gas production contributed to 47% of total natural gas production. For many countries that are targeting the emissions cut, the use of shale fuel is an opportunity to strengthen the energy security, reducing the dependence on conventional fuels. Many nations are considering shale gas production as an excellent alternative to the natural gas production, for supporting the export requirement and bridging the demand and supply gap of natural gas. For an instance, according to the Energy Information Administration, in 2017, approximately 16.86 trillion cubic feet of dry natural gas was produced from the shale resources in the US.

Extraction of shale gas poses many risks to the environment and involves the use of raw materials and technological assistance. The activities at present, are limited but they are expected to rise. The laterals shift to drilling horizontal wells in the shale oil and gas in the US, led the companies to use coiled tubing for well completion and intervention. Thus, the growing shale production, especially in the emerging economies, such as Argentina, China, India, South Africa, and Mexico, is an opportunity for shale production operators and for coiled tubing Service Type.

Market Restraints

Coiled tubing is delicate piece of equipment, as the tubing itself is relatively thin-walled, and have little room for operational and technical damage. Rising offshore field development in harsh environment condition and high-risk regions, pose operational challenges and distinct environmental concerns. Since tubing is continuously bent and straightened in the process at high internal pressure, any small technical event and flaw can lead to failures in the whole event. However, the solution involves operational challenges associated due to high technological complexities. Furthermore, the job site conditions are difficult in offshore applications. Monitoring the coiled tubing process in the deep water and ultra-deep-water conditions is tough. Such complexities restrain the market and are expected to act as a restraint in the global coiled tubing market during the forecast period.

Strategic Outlook and Future Directions

Near-term growth will likely concentrate in modular bioreactor lines and closed-system media workflows that shorten validation cycles while preserving batch traceability.

Partnerships between CDMOs and instrumentation vendors should accelerate standard datasets for comparability across sites, improving forecasting models used in capacity planning.

Longer horizon, organoid and microphysiological adoption may reshape segment mix; teams that invest early in assay interoperability and cloud QC hooks are better positioned to capture upside without fragmenting their analytics stack.

Market Value by Segment (2023)

Value (USD Mn)

Well Intervention

Drilling

Others

Companies

Key companies profiled in Coiled Tubing Market

Profiles of 102 companies operating in the Coiled Tubing Market market, including revenue, employee count, and market positioning where available.

Region

Industry

Founded Year

Showing 102 of 102 companies

Calfrac We

Calfrac Well Services Ltd

Energy & Power

Company Headquarters: Canada Founded: 1999 Workforce: ~40,000 Company Working: Calfrac Well Services Ltd provides hydraulic fracturing and oilfield services in the US, Canada, Russia, and Argentina. It offers a wide range of services including coiled tubing, hydraulic fracturing, cementing and other well stimulation services for oil and natural gas companies. The company operates through four business segments, which are fracturing, coiled tubing, cementing, product sales and subcontractor. It has 879,000 coiled tubing units in the US, 306,000 coiled tubing units in Canada, 108,000 coiled tubing units in Argentina, and 77,000 coiled tubing units in Russia. The coiled tubing segment includes both, shallow and deep equipment for vertical depths below 10,000 ft. (3,000 m), with reel capacities up to 24,000 ft. (7,200 m) for 2 3/8 inches (60.3 mm) coiled tubing. It offers coiled tubing services such as frac through coil, high rate annular fracturing, and acidizing. Mission Well Services, LLC, Calfrac Holdings LP, Century Oilfield Services Inc., ChemErgy Ltd., Calfrac Well Services (Argentina) S.A., and GASFRAC Energy Services Inc. are some of the subsidiaries of the company.

Company Headquarters: Canada Founded: 1979 Workforce: ~11,900 Company Working: TRICAN specializes in offering equipment and services for drilling operations and for exploring oil and gas reserves. It offers several oilfield pressure pumping services including cementing, fracturing, acidizing, and production enhancement. The company has launched more than 160 new cementing and stimulation products and 45 coiled tubing inventions in the last five years. It also provides acidizing and production enhancement services that comprise coiled tubing solutions, which includes coiled tubing fracturing and acidizing, production and injection well enhancement services and equipment, specially designed tools, well cleanouts, milling, high pressure jetting, e-coil (smart coil), in-house engineering, and nitrogen gas lifting. TRICAN also has specialized laboratories for well cementing, geological and stimulation segments in oilfield services. ItTRICAN provides various industrial services, comprises of nitrogen services, mechanical, chemical, and bundle cleaning services, fracturing equipment and solutions, and pipeline services, such as operating, commissioning, and abandonment services. Ultrasonic cement compressive strength determination, cement blend gas migration analysis, cement rheology profile characterization, and cement mechanical properties are a few other areas of specialization of the company. Additionally, it features mass flow meters, recirculating mixers, data acquisition system, and real-time data monitoring. TRICAN has research and development facilities across Russia, Texas, and Colombia. Kievton Limited, TRICAN Completion Solutions LLC, i-TEC Well Solutions LLC, R-Can Services Limited, Northline Energy Services, Inc., and Canadian Oilfield Stimulation Services Limited are some of the subsidiaries of the company.

Nabors Industries Ltd.

Energy & Power

Company Headquarters: Hamilton, Bermuda, UK Founded: 1952 Workforce: ~15,000 Company Working: Nabors Industries Ltd is one of the leading global drilling rig (offshore and onshore) fleet providers. It offers directional drilling services, innovative technologies, and performance tools for itself and third parties. The company is well positioned in the competitive market with its seamlessly integrated downhole hardware, equipment, and software solutions, which are required for designing rigs. It offers a variety of software solutions to its clients for drilling data analytics, RigCLOUD platform, equipment condition monitoring software, fuel management, and directional drilling. Additionally, in the equipment segment, the company offers automated surface equipment, downhole tools, and automated floor systems. Its rig instrumentation software systems help enhance drilling performance and wellbore placement. Nabors Industries Ltd has smart drilling techniques, which provide benefits such as real-time monitoring, user-friendly interface design, intelligent alarms, synchronized top drive operating data, and integration with other downhole technologies for streamlined management. Its overall smart well systems include wiring, sensing, and decoding devices that are integrated with the value chain. As a global player, the company is currently working with approximately 407 marketed rigs for land-based operations in the US and Canada and 23 other countries across the world. Nabors Industries Ltd. specializes in wellbore placement solutions and offers directional drilling and Measurement While Drilling (MWD) systems and services for clients all over the world.

Hamilton, Bermuda, UK

Weatherfor

Weatherford

Energy & Power

Company Headquarters: Texas, US Founded: 1941 Workforce: ~29,500 Company Working: Weatherford International is one of the largest multinational in oil field and service companies, which offers innovative solutions, technology and pioneer services to the oil and gas industry. The company operates through the following product and services segments: formation evaluation, drilling, completions, productions, abandonment, tubular running services, rigs, rig equipment and software. It offers a variety of drilling services including surface logging systems, closed-loop drilling, rental tools and services, drilling waste management, pressure control, liner system, cementing and drilling optimization. Weatherford’s product and services provides includes Artificial Lift Systems, Testing and Production Services, Completion Systems, Cementing Products, Surface Logging Systems, Intervention Services, and Reservoir Solutions. Weatherford offers MPD of two types, namely semi-automated and automated. The company has a wide operational portfolio, which is segmented regionally as western and eastern hemisphere, across the globe. It is embracing automation, and digitalization, including technologies such as big data, Internet of Things, and machine learning to enhance the exploration and production process. It operates in over 90 countries and has facilities in over 860 locations, which include research and development, service, manufacturing, and training. The companies MPD product portfolio includes subsea and surface rotating control devices.

Company Headquarters: Helsinki, Finland Founded: 1834 Workforce: ~ 17 800 employes Primary Industry: Industrial Machinery Manufacturing Specialties: High efficiency & low emission levels, Lifecycle power solutions and services, Environmental solutions, Energy solutions, Marine, Digital Transformation, LNG, Gas-based technology, Sustainable solutions, Energy efficiency, Services, Marine Solutions, and Energy storage Company Working: Wartsila, a global leader in innovative technologies and lifecycle solutions, plays a significant role in the generator market. The company provides advanced and sustainable solutions for power generation, particularly through its Wartsila Energy division. Wartsila's energy solutions cater to a wide range of sectors, offering products such as flexible power plants, energy storage systems, and lifecycle services, all aimed at optimizing energy efficiency and reducing environmental impact. A key aspect of Wartsila’s generator offerings is their ability to run on sustainable fuels, supporting decarbonization efforts while maintaining high economic performance for customers. This positions Wartsila as a frontrunner in providing environmentally responsible generator solutions that are both reliable and efficient. Wartsila's portfolio includes high-performance engines and integrated solutions that can power a variety of generator systems, offering flexible and reliable power generation for diverse industries. These solutions are designed to improve operational efficiency, reduce emissions, and support the transition to cleaner energy sources. The company’s focus on lifecycle services ensures that its generator solutions continue to perform at optimal levels throughout their operational life. Wartsila’s commitment to sustainability, innovation, and reliable power generation solidifies its position as a leader in the global generator market, helping customers meet their energy needs while reducing their environmental footprint.

Company Headquarters: Neutraubling, Bavaria Founded: 1951 Workforce: ~ 10001 employes Primary Industry: Krones operates in the packaging and bottling machinery industry. Company Working: Krones is a global leader in the packaging and bottling machinery industry. They design, manufacture, and install complete production lines for a wide range of beverages and food products. From brewing equipment and filtration systems to bottling, canning, labeling, and palletizing technologies, Krones offers a comprehensive solution for efficient and sustainable production processes. Their expertise extends beyond just beverage production, encompassing food and dairy, chemicals, pharmaceuticals, cosmetics, and both alcoholic and non-alcoholic beverage sectors. Krones attributes its success to several key strategies. First, they combine extensive mechanical engineering knowledge with a deep understanding of their customers' specific needs across various industries. Second, a strong commitment to research and development ensures their technology remains cutting-edge, with over 7,050 patents granted and pending serving as a testament to their innovative spirit. Third, Krones prioritizes exceptional quality by utilizing state-of-the-art equipment in their manufacturing facilities throughout Germany. Finally, a highly skilled workforce provides 24/7 global support, ensuring optimal performance of their clients' production lines wherever they operate. Krones' global reach extends far beyond their German headquarters. With regional offices strategically located throughout the Americas, Europe, Asia-Pacific, the Middle East, and Africa, they are well-positioned to serve a diverse clientele. This global presence allows them to be a key partner for companies across various sectors, helping them achieve efficient and sustainable production of beverages and food products

Neutraubling, Bavaria

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About the Author

Energy & Power Research Team

Energy & Power

This report comes from Wantstats' energy team — analysts who spend their days tracking utility filings, generation capacity, and grid investment plans across markets most research glosses over. Every number here has been checked against our own databases and validated through conversations with people actually running these projects.

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This is really good guys. Excellent work on a tight deadline. I will continue to use you going forward and recommend you to others. Nice job.

Michael Robert

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Thanks, I am so happy that we worked together. Maybe we still can work together in the future.

Joseph Aguayo

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Thanks. It's been a pleasure working with you, please use me as reference with any other Intel employees.

Bong Lau

Sales Leader, Bamberg

We bought your "2025 report" in 2020. Everything is fine and very good.

Peter Groot Koerkamp

Account and Business Manager, EFS-Holland BV

Thanks for sending the report it gives us a good global view of the Betaïne market.

Younghwan Choi

Senior Retail Manager, LG Chem

We found the report very insightful! we found your research firm very helpful. I'm sending this email to secure our future business.

Mark Irwin

Management Consultant, Level 21

I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.

Rob Kooiker

Group Product Manager HVAC & Fire Protection GMA, Rockwool

I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!

Jason Lee

R&D Director, Seojin

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Akif Moroglu

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We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.

Coiled Tubing Market

Coiled Tubing Market Research Report: Size, Share, Trend Analysis Service Type (Well Intervention, Drilling, Others), Application (Onshore, Offshore) and By Region (Middle East and Africa, North America, Asia Pacific, Europe, South America) - Growth Outlook & Industry Forecast To 2023

Starting from

$4,950

Coiled Tubing Market

Coiled Tubing Market Research Report: Size, Share, Trend Analysis Service Type (Well Intervention, Drilling, Others), Application (Onshore, Offshore) and By Region (Middle East and Africa, North America, Asia Pacific, Europe, South America) - Growth Outlook & Industry Forecast To 2023

Key Insight

Market Performance Trend

Market Scope & Coverage

What this report covers

Coiled Tubing Market — Growth Trajectory

Market Size Trend (USD Mn)

Market Dimensions

How this market is segmented

Geographic Analysis

Regional market breakdown

Problem Definition

Secondary Research

Primary Research

Data Analysis

Insights & Reporting

Research Depth

Historical vs. Forecast Data

Competitive Landscape & Porter's Five Forces

Coiled Tubing Market — Competitive Analysis

Regional Market Data

Segment Revenue (2023)

Segment Market Share

Market by Segment (2023)

Save over 20% onAnnual Subscription

Key Analytical Findings

Market Dynamics

Market Drivers

Market Opportunities

Market Restraints

Strategic Outlook and Future Directions

Market Value by Segment (2023)

About the Author

Energy & Power Research Team

Market Performance Trend

Coiled Tubing Market — Growth Trajectory

Market Size Trend (USD Mn)

Market Dimensions

How this market is segmented

Geographic Analysis

Regional market breakdown

Problem Definition

Secondary Research

Primary Research

Data Analysis

Insights & Reporting

Research Depth

Historical vs. Forecast Data

Competitive Landscape & Porter's Five Forces

Coiled Tubing Market — Competitive Analysis

Regional Market Data

Segment Revenue (2023)

Segment Market Share

Market by Segment (2023)

Save over 20% onAnnual Subscription

Key Analytical Findings

Market Dynamics

Market Drivers

Market Opportunities

Market Restraints

Strategic Outlook and Future Directions

Market Value by Segment (2023)

About the Author

Energy & Power Research Team

Save over 20% on
Annual Subscription

Save over 20% on
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