Market Size of United States Coiled Tubing Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 3.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Coiled Tubing Market Analysis
The United States Coiled Tubing Services market is expected to register a CAGR of more than 3% from 2022 to 2027. The COVID-19 outbreak in Q1 of 2020 has slowed the growth of the oil & gas industry. Furthermore, well construction and planned maintenance work are also suspended due to the COVID-19 pandemic. Factors such as the rising number of mature fields in the country and increasing energy demand are expected to drive the coiled tubing services market during the forecast period. However, the high volatility of crude oil prices and high maintenance costs are restraining the growth of the coiled tubing services market during the forecast period.
- Well-intervention application segment is expected to dominate the coiled tubing services market during the forecast period.
- Increasing exploration and production activities from new oil and gas field discoveries and the development of the ultradeep water and deep water reserves are expected to create significant opportunities for the market studied.
- Increasing rig count and exploration and production activities in the United States are expected to drive the country's coiled tubing market in the forecast period.
