Global Coiled Tubing Market Size & Outlook, 2019-2027
Global coiled tubing market, 2016-2027 (US$M)
Related Markets
Global coiled tubing market highlights
- The global coiled tubing market generated a revenue of USD 3,245.4 million in 2019 and is expected to reach USD 4,724.0 million by 2027.
- The market is expected to grow at a CAGR (2020 - 2027) of 4.8% by 2027.
- In terms of segment, well intervention accounted for a revenue of USD 2,159.0 million in 2019.
- Well Intervention is the most lucrative services segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2019.
- Country-wise, Iran is expected to register the highest CAGR from 2020 to 2027.
Global data book summary
| Market revenue in 2019 | USD 3,245.4 million |
| Market revenue in 2027 | USD 4,724.0 million |
| Growth rate | 4.8% (CAGR from 2019 to 2027) |
| Largest segment | Well intervention |
| Fastest growing segment | Well Intervention |
| Historical data covered | 2016 - 2018 |
| Base year for estimation | 2019 |
| Forecast period covered | 2020 - 2027 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Well Intervention, Drilling |
Other key industry trends
- In terms of revenue, the North America accounted for 46.2% of the global coiled tubing market in 2019.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2027.
- By country, Iran is the fastest growing regional market and is projected to reach USD 71.1 million by 2027.
Well intervention was the largest segment with a revenue share of 66.52% in 2019. Horizon Databook has segmented the Global coiled tubing market based on well intervention, drilling covering the revenue growth of each sub-segment from 2016 to 2027.
Natural gas demand is projected to witness the maximum growth rate over the forecast period. The global demand for natural gas is expected to grow at an estimated CAGR of 1.9% from 2012 to 2035, with a majority of the growth in non-OECD countries outpacing the OECD demand growth (BP Energy Outlook, 2014).
According to BP Energy Outlook 2014, the global energy demand is expected to grow at an average rate of 1.5% per annum and is expected to increase by 41% from 2012 to 2035. Currently, a majority of the energy demand is being fulfilled by liquid hydrocarbons, followed by coal. Liquid hydrocarbons are used as the primary fuel for transportation, followed by industrial engines.
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Coiled Tubing Market Scope
Coiled Tubing Market Companies
| Name | Profile | # Employees | HQ | Website |
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Global coiled tubing market size, by region, 2016-2027 (US$M)
Top 10 countries: Coiled tubing market size, 2019 (US$M)
Global coiled tubing market share, by services, 2019 & 2027 (%, US$M)
Coiled tubing market: Opportunity assessment by country
Global coiled tubing market, by region, 2019 (US$M)
| Services | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 1,343.7 | 1,435.5 | 1,455.1 | 1,500.4 | 1,566.1 | 1,639.9 | 1,721.3 | 1,813.5 | 1,915.2 | 2,032.1 | 2,162.2 | 2,304.9 | 5.5% |
| Europe | 586.9 | 589.8 | 596.2 | 607.6 | 626.8 | 648.7 | 673.0 | 700.8 | 731.6 | 767.3 | 807.0 | 850.4 | 4.3% |
| Asia Pacific | 366.2 | 241.5 | 242.5 | 245.4 | 251.3 | 258.2 | 265.9 | 274.8 | 284.7 | 296.3 | 309.1 | 323.1 | 3.5% |
| Latin America | 363.0 | 353.6 | 350.2 | 357.7 | 369.7 | 383.5 | 398.7 | 416.1 | 435.3 | 457.5 | 482.2 | 509.3 | 4.5% |
| MEA | 475.3 | 508.4 | 525.5 | 534.5 | 550.4 | 568.5 | 588.7 | 611.8 | 637.4 | 667.2 | 700.3 | 736.4 | 4.1% |
| Overall | 3,135.0 | 3,128.7 | 3,169.4 | 3,245.5 | 3,364.2 | 3,498.8 | 3,647.5 | 3,817.1 | 4,004.1 | 4,220.3 | 4,460.9 | 4,724.1 | 4.8% |
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