Home > Energy & Power > Oil and Gas > Upstream > Coiled Tubing Market

Coiled Tubing Market Size

Report ID: GMI4498
Published Date: Dec 2024
Report Format: PDF

Download Free Sample

Coiled Tubing Market Size

The global coiled tubing market size was valued at USD 3 billion in 2024 and is projected to grow at a CAGR of 4.5% from 2025 to 2034. The industry is set to experience substantial expansion on account of the increasing exploration and production (E&P) investments, rapidly growing energy demands, and expanding number of mature oil fields that require enhanced services, among other parameters.

Coiled Tubing Market

To get key market trends

Download Free Sample

Moreover, the expansion of offshore drilling operations and the shift towards more efficient, automated systems in the oil and gas sector are expected to further strengthen the industry landscape. For instance, in May 2023, energy service company called Archer announced to secure a five-year contract worth about USD 50 million from Perenco UK Limited to deliver pumping and coil tubing services.

Coiled Tubing Market Report Attributes
Report Attribute	Details
Base Year:	2024
Coiled Tubing Market Size in 2024:	USD 3 Billion
Forecast Period:	2025 – 2034
Forecast Period 2025 – 2034 CAGR:	4.5%
2025 – 2034 Value Projection:	USD 4.6 Billion
Historical Data for:	2021 – 2024
No. of Pages:	105
Tables, Charts & Figures:	32
Segments covered:	Service, Application, and Region
Growth Drivers:	Upsurge in production of conventional energy resource Increasing investments in offshore oil & gas industry Rising focus toward development of mature oil fields
Pitfalls & Challenges:	Technical issue during deployment of coiled tubing

Learn more about the key segments shaping this market

Download Free Sample

Authors: Ankit Gupta, Divyendu Sharma

Frequently Asked Questions (FAQ) :

The market size of coiled tubing reached USD 3 billion in 2024 and is set to grow at a 4.5% CAGR from 2025 to 2034, driven by increasing E&P investments and rising energy demands.

The onshore segment is projected to grow at a rate of 4% through 2034, led by the demand for efficient, cost-effective, and sustainable oil & gas solutions.

The U.S. market is set to cross USD 1 billion by 2034, propelled by the increased use of horizontal drilling and hydraulic fracturing in shale plays.

Major players in the market include Baker Hughes, Calfrac Well Services, CJ Well Services, Halliburton, KLX Energy, Nabors Industries, National Oilwell Varco, Nine Energy Service, Royal IHC, Schlumberger, STEP Energy Services, Tenaris, Trican, Weatherford, and Well Service Group.