Globally growing oil & gas industry coupled with increased energy demand in Asia Pacific, Latin America and Middle East is expected to be a key driving factor for coil tubing market growth over the next seven years. Increase in shale gas projects coupled with new reserve discoveries is anticipated to augment coil tubing market growth. Diverse coil tubing applications such as nitrogen pumping and well clean outs are expected to be the key factor for coil tubing market growth over the forecast period. Coil tubing market can be classified under drilling services and well intervention services. Well intervention services are further segmented into well cleaning and well completion services. Various coil tubing advantages such as reduced labor requirement, quicker trip times in oil & gas industry is slated to fuel coil tubing demand and in turn coil tubing market growth.
The report “Coil Tubing Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2015 To 2022” is available now toGrand View Researchcustomers and can also be purchased directly at:
Ageing facilities in oil & gas is also expected to be a driver for coil tubing market growth. Coil tubing market is anticipated to grow over the next seven years owing to channeled investments in exploration and production activities. Increasing demand for well services owing to aforementioned factors is expected to propel coil tubing demand thereby augmenting coil tubing market growth. Coil tubing market is expected to grow further owing to deep water drilling and offshore market development. Increasing awareness regarding new and innovative technology such as coil tubing technology backed by investments is anticipated to prompt coil tubing demand which in turn is expected to augment coil tubing market growth over the forecast period.
North America is expected to remain the dominant regional market and witness considerable growth over the forecast period owing to increased shale gas production in U.S coupled with favorable regulations. Increasing shale gas extraction in China is likely to have a positive impact on coil tubing market in Asia Pacific. Asia Pacific is expected to be a potential market and witness significant growth owing to increased investment in coil tubing technology.
View All Market Research Reports Of This Category:
About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy.
Corporate Sales Specialist, USA
Grand View Research, Inc
Toll Free: 1-888-202-9519