London, 01 October 2014 – TechNavio, a global tech-focused research firm has announced the publication of its market research report on the Global Coiled Tubing Market 2014-2018.
About Coiled Tubing
Coiled tubing is made of joint pipes that are used as an alternative to traditional drilling string. Major applications of coiled tubing include wellbore cleaning, well stimulation, logging, nitrogen pumping, perforations and drilling.
The latest report by TechNavio focuses on market conditions contributing to a CAGR of 8.1 percent from 2013-2018.
The report highlights improved operational technologies that are expected to reduce the overall cost of manufacturing for oil companies. These innovations not only increase the production capacity of wells, but also help in maintaining the ecology of the excavation area.
“Vendors in the market have been investing heavily in R&D to develop their processes. The key areas of focus for these technological innovations are the minimization of in-hole time through the deployment of multi-purpose tool strings and the usage of multi-data collection instruments and systems. The Riserless Light Well Intervention (RLWI) technique has also been a great innovation in recent years and is expected to change the market dynamics during the forecast period,” says Faisal Ghaus, Vice President of TechNavio.
Key Information Covered in the Report:
Market segmentation, size and forecast through 2018
Market Growth Drivers:
- Development of Mature Oilfields
- For a full detailed list, view our report.
Market Challenges:
- Wellbore Cleaning Issues
- For a full detailed list, view our report.
Market Trends:
- Technological Innovation in Well Intervention Services
- For a full detailed list, view our report.
Key Vendors:
- Baker Hughes Inc.
- Halliburton Co.
- Key Energy Services
- Schlumberger Ltd.
- Superior Energy Services Inc.
- Weatherford International Ltd.
Other Prominent Vendors:
- Aker Solution
- Archer – The Well Company
- C&J Energy Services
- Calfrac Well Services
- Cwc Well Services Corporation
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