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The North America coiled tubing market size was valued at USD 696.80 million in 2023. The market is further projected to grow at a CAGR of 3.6% between 2024 and 2032, reaching a value of USD 963.51 million by 2032.
The United States of America is a significant producer of oil and gas globally. A larger percentage of the country’s production comes from unconventional oil drilling. The combination of horizontal drilling and hydraulic fracturing allows oil producers to unlock previously inaccessible oil and gas resources. According to the U.S. Energy Information Administration (EIA), offshore drilling accounted for around 15% of the country’s oil production in 2021. The presence of major oil and gas companies, such as Chevron, ExxonMobil, BP, Shell, ConocoPhillips, EOG Resources, Marathon Petroleum, Devon Energy, ad Occidental Petroleum, and Valero Energy in North America, aid the North America coiled tubing market development.
According to the North America coiled tubing market analysis, coiled tubing is a cost-effective and time-saving solution for well-intervention operations. Coiled tubing is deployed to achieve several well intervention operations, including cleanout, perforating the wellbore, and retrieving and replacing damaged equipment. Further, advancements in coiled tubing allow for real-time downhole measurements that can be used in wellbore treatments and logging operations. Coiled tubing can also be deployed to perform enhanced oil recovery (EOR) processes, such as hydraulic and acid fracturing as well as sand control and cementing operations. Coiled tubing is also an important tool for controlling fluid flow in horizontal wells.
North America Coiled Tubing Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments.
Market Breakup by Service:
Market Breakup by Application:
Market Breakup by Country:
The key players in the coiled tubing market in North America are investing in expanding their footprint to increase their market share.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Service |
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Breakup by Application |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Coiled Tubing Market Overview
8.1 Key Industry Highlights
8.2 Global Coiled Tubing Historical Market (2018-2023)
8.3 Global Coiled Tubing Market Forecast (2024-2032)
8.4 Global Coiled Tubing Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 North America Coiled Tubing Market Overview
9.1 Key Industry Highlights
9.2 North America Coiled Tubing Historical Market (2018-2023)
9.3 North America Coiled Tubing Market Forecast (2024-2032)
10 North America Coiled Tubing Market by Service
10.1 Well Intervention
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.1.3 Breakup by Type
10.1.3.1 Well Cleaning and Pumping Operations
10.1.3.2 Well Completion and Mechanical Operations
10.2 Drilling
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Others
11 North America Coiled Tubing Market by Application
11.1 Onshore
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Offshore
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 North America Coiled Tubing Market by Country
12.1 United States of America
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Canada
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyer’s Power
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators for Demand
13.4 Key Indicators for Price
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Baker Hughes Company
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 Calfrac Well Services Ltd.
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 Essential Coil Well Service Ltd.
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 Halliburton Energy Services, Inc.
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 NOV Inc.
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Schlumberger NV
14.2.6.1 Company Overview
14.2.6.2 Product Portfolio
14.2.6.3 Demographic Reach and Achievements
14.2.6.4 Certifications
14.2.7 STEP Energy Services Ltd.
14.2.7.1 Company Overview
14.2.7.2 Product Portfolio
14.2.7.3 Demographic Reach and Achievements
14.2.7.4 Certifications
14.2.8 ACT American Coil Tubing
14.2.8.1 Company Overview
14.2.8.2 Product Portfolio
14.2.8.3 Demographic Reach and Achievements
14.2.8.4 Certifications
14.2.9 Trican Well Service Ltd.
14.2.9.1 Company Overview
14.2.9.2 Product Portfolio
14.2.9.3 Demographic Reach and Achievements
14.2.9.4 Certifications
14.2.10 RPC, Inc.
14.2.10.1 Company Overview
14.2.10.2 Product Portfolio
14.2.10.3 Demographic Reach and Achievements
14.2.10.4 Certifications
14.2.11 Others
15 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Coiled Tubing Market: Key Industry Highlights, 2018 and 2032
2. North America Coiled Tubing Market: Key Industry Highlights, 2018 and 2032
3. North America Coiled Tubing Historical Market: Breakup by Service (USD Million), 2018-2023
4. North America Coiled Tubing Market Forecast: Breakup by Service (USD Million), 2024-2032
5. North America Coiled Tubing Historical Market: Breakup by Application (USD Million), 2018-2023
6. North America Coiled Tubing Market Forecast: Breakup by Application (USD Million), 2024-2032
7. North America Coiled Tubing Historical Market: Breakup by Country (USD Million), 2018-2023
8. North America Coiled Tubing Market Forecast: Breakup by Country (USD Million), 2024-2032
9. North America Coiled Tubing Market Structure
In 2023, the coiled tubing market reached an approximate value of USD 696.80 million.
The market is expected to grow at a CAGR of 3.6% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach USD 963.51 million by 2032.
Wireline cabling systems find use in lowering gauges, plugs, and valves into boreholes, while coiled tubing is used for pumping.
The stripper/packer is a primary barrier in a coiled tubing unit. The barrier is designed to provide a pressure seal around a coiled tubing unit as the unit is being run into or pulled out of a live well.
The major drivers of the market include a rising demand for oil and gas, an increase in well drilling and intervention, and advancement in coiled tubing technology.
Key trends aiding market expansion include extensive research and development to advance coiled tubing technology, investments in well cleaning, and growing demand for fossil fuels.
Major countries in the market are the United States of America and Canada.
The common application of coiled tubing onshore and offshore.
Key players in the market are Baker Hughes Company, Calfrac Well Services Ltd., Essential Coil Well Service Ltd., Halliburton Energy Services, Inc., NOV Inc., Schlumberger NV, STEP Energy Services Ltd., ACT American Coil Tubing, Trican Well Service Ltd., RPC, Inc., and others.
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