Global Coiled Tubing Unit Market Overview:
The coil tubing unit refers to a long metal pipe which is normally applicable in oil and gas fields for well interventions or the production tubing in depleted oil and gas wells. It is made of very low-alloy cabon-steel that exhibits advantages such as small trips, less labor intensive and others. There has been significant rise in coil tubing units due to declining of oil prices and increase in the length of horizontal walls in Middle East countries. Further, increasing demand from the developing countries owing to growth in the oil & gas industry concerns owing to increasing application in drilling activities. The coil tubing unit are mixed with various offshore mechanisms in order to increase their high internal pressure and continuously easy bent of tubing that expected to drive the demand for coil tubing unit over the forecasted period.
- Increasing Numbers Of Exploration And Production Activities Boost The Coil Tubing Units Market.
- Growing Demand of Coil Tubing Unit in Drilling and Oil & Gas Equipments.
- Increasing Number of Consumer Willing To Purchase Coil Tubing Units.
- Value Oriented Consumers.
- Technological Complexities Associated With Coil Tubing Units.
- Technical and Operational Damage Witnessed In Coil Tubing Unit.
- Increasing Investments In Deep Water and Ultra-Deep Water Projects.
- Demand Witnessed In Offshore and Deep-Water Drilling.
- Stringent Government Regulations and Declining Rig Count Challenge the Coil Tubing Units
- Substitute Available For Coil Tubing Units.
Some of the key players profiled in the report are Schlumberger (United States), Baker Hughes (United States), Halliburton (United States), Weatherford International Inc (Bermuda), Archer Limited (Bermuda), Calfrac Well Services Ltd (Canada), Cudd Energy Services (United States), Superior Energy Services Inc. (United States), Trican Well Service Ltd. (Canada) and C&J Energy Services, Inc. (United States. Additionally, following companies can also be profiled that are part of our coverage like Sanjel Corporation (Canada) and Nabors Industries Ltd (Bermuda). Analyst at AdvanceMarketAnalytics see United States Manufacturers to retain maximum share of Global Coiled Tubing Unit market by 2024. Considering Market by Operation, the sub-segment i.e. Circulation/Deliquification will boost the Coiled Tubing Unit market. Considering Market by End User, the sub-segment i.e. Oil and Gas Industry will boost the Coiled Tubing Unit market. Considering Market by Location, the sub-segment i.e. Onshore will boost the Coiled Tubing Unit market.
In April 2016, Schlumberger acquired Xtreme Drilling and Coil Services Corporation. This acquisition is beneficial in providing advance overall drilling and coiled well intervention efficiency through technology integration to help the customers.
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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The top-down and bottom-up approaches are used to estimate and validate the size of the Global Coiled Tubing Unit market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Coiled Tubing Unit market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Coil Tubing Unit Manufacturers, Coil Tubing Unit Traders, End-Use Market Participants of Different Segments of Coil Tubing Unit, Government and Research Organizations, R&D Institutions and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.