Market Size of Europe Coiled Tubing Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 3.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Coiled Tubing Market Analysis
Europe's coiled tubing market is expected to grow at a CAGR of over 3% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently the market has now reached pre-pandemic levels.
- Over the medium term, an increasing number of mature fields and maintenance of the existing wells are expected to drive the market's growth.
- On the other hand, the high volatility of crude oil prices and high maintenance costs are expected to hamper the growth of Europe's coiled tubing market during the forecast period.
- Nevertheless, the increasing deepwater exploration and production in the North Sea are likely to create lucrative growth opportunities for the Europe coiled tubing market in the forecast period.
- United Kingdom to witness signifivant growth and is also likely to witness the prominent CAGR during the forecast period. This growth is attributed to the increasing investments, coupled with several upcoming projects.
