Coiled tubing is injected into the existing production string, unwound from the reel and inserted into the well. It is used for interventions in oil and gas wells and sometimes as production tubing in depleted gas wells. Coiled tubing is often used to carry out operations similar to wire lining. Onshore, they can be run using smaller service rigs, and for light operations a mobile self-contained coiled tubing rig can be used. Also, it is used to perform open whole drilling and milling operations. Furthermore, it is used to perform tasks within a well, such as pumping fluids to stimulate the flow of oil or natural gas, removing obstructions, and deploying materials and tools that can be used for measuring well conditions.
GCC Coiled Tubing Market: Key Players
The research study includes profiles of leading companies operating in the global GCC Coiled Tubing market. Key players profiled in the report include: Halliburton, Schlumberger, Baker Hughes Company, Weatherford, Nextier Oilfield Solutions, RPC, Inc., Step Energy Services, Superior Energy Services, Trican, Altus Intervention, and others.
Drivers for the Global GCC Coiled Tubing Market:
Increasing adoption of coiled tubing (CT) services for the rising number of oil and gas projects in the region, growing development of mature oil fields and upsurge in production of conventional energy resource these are the major driving factors for the Global GCC Coiled Tubing market.
Opportunities for the Global GCC Coiled Tubing Market:
Similarly, increasing production of oil and natural gas in the various regions, it is a cost-effective technology, and growing industrialization creates the huge opportunity for the Global GCC Coiled Tubing market in upcoming years.
Restrains for the Global GCC Coiled Tubing Market:
On another side, rising technical issue during deployment of coiled tubing, geopolitical uncertainty, and U.S. levied sanctions on Iran, which, in turn, are expected to hamper the oil production in Iran these factors creates the negative impact on the Global GCC Coiled Tubing market.
Region Wise, Global GCC Coiled Tubing Market Analysis:
Report covers the region wise analysis, global GCC coiled tubing can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Among all, North America leads the global GCC coiled tubing share due to increasing production of tight oil in the U.S. coupled with availability of skilled manpower, latest equipment and technologies, and increased Exploration and Production (E&P) activities. North America region is followed by Europe and Middle East and Africa. Europe market is expected to grow in forecast period due to their focus towards cost-effective solutions such as coiled tubing to gain a competitive advantage over other industry participants.
Covid-19: Impact and Recovery Analysis for Global GCC Coiled Tubing Market:
The world is greatly affected by the uncertain raise of the covid-19 Pandemic among the population. The Corona virus outbreak has disrupted & disturbed every sector of business as well as human activity. In most parts of the world there has been a complete restriction set by governments regarding various activities and in turn this is greatly affecting the financial stability of industries like: Global GCC Coiled Tubing market. COVID-19 pandemic has slowed the growth of the oil & gas industry. Many oil & gas producing companies are taking measures to counteract oversupply issues by delaying LNG project constructions. Furthermore, supply chains are facing challenges this way COVID-19 has hindered the growth of the coiled tubing market. To recover from this situation, many manufacturing companies start their plants again according to government norms.
Global GCC Coiled Tubing Market: Product analysis
- Well Intervention
Global GCC Coiled Tubing Market: Application analysis
Global GCC Coiled Tubing Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East