Market Size of North America Coiled Tubing Services 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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North America Coiled Tubing Market Analysis
The North American coiled tubing services market is expected to register a CAGR of over 3% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently, the market has reached pre-pandemic levels.
- Over the medium term, increasing investments in new discoveries and shale oil and gas are expected to drive the growth of the market studied.
- On the other hand, the volatile crude oil prices and high maintenance cost are expected to hamper the growth of the North American coiled tubing services during the forecast period.
- The development of the deepwater and ultra-deepwater reserves are likely to create lucrative growth opportunities for the North American coiled tubing services market during the forecast period.
- The United States dominates the market and is also likely to witness the highest CAGR during the forecast period. This growth is attributed to the increased shale oil and gas development in several basins, along with a shift from vertical to horizontal wells for greater formation access.
