Home > Energy & Power > Oil and Gas > Upstream > Europe Coiled Tubing Market
Europe Coiled Tubing Market Size
- Report ID: GMI5046
- Published Date: Jul 2024
- Report Format: PDF
Europe Coiled Tubing Market Size
Europe Coiled Tubing Market was valued at USD 528.9 million in 2023 and is projected to witness about 8% CAGR through 2032. Heightened energy demands, alongside aging oil and gas infrastructure are driving investments in well intervention and drilling. Innovations in coiled tubing operations, enhancing efficiency and cost-effectiveness, are accelerating market adoption. According to the European Commission, the EU's energy consumption is projected to increase by 14% by 2030, highlighting the need for advanced drilling technologies. Europe's push to reduce its carbon footprint is fueling geothermal projects, with coiled tubing playing a pivotal role in drilling and maintenance.
The European Commission reports that geothermal energy capacity in the EU is expected to grow by 8% annually. Moreover, supportive regulations and government policies, emphasizing energy security and sustainability, are propelling market growth.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Europe Coiled Tubing Market Size in 2023: | USD 528.9 Million |
| Forecast Period: | 2024 - 2032 |
| Forecast Period 2024 - 2032 CAGR: | 8% |
| 2032 Value Projection: | USD 1.05 Billion |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 80 |
| Tables, Charts & Figures: | 15 |
| Segments covered: | Service, Application |
| Growth Drivers: |
|
| Pitfalls & Challenges: |
|
Frequently Asked Questions (FAQ) :
Europe Coiled Tubing Market Scope
