Dallas, Texas (PRWEB) September 29, 2014
One key trend emerging in this market is the technological innovation in well intervention services. Market players are making large investments to improve the technology used in well intervention. 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.
Analysts forecast the Global Coiled Tubing market to grow at a CAGR of 8.1 percent over the period 2013-2018. According to the report, one of the main drivers in this market is the development of mature oilfields. The growing demand for energy has forced several governments and vendors to invest in coiled tubing technology to increase production from maturing oilfields.
Coiled tubing is made of joint pipes, which are used as an alternative to traditional drilling string. Coiled tubing is mainly used for intervention in oil and gas well, and sometimes it is used as producing wells in the oil and gas field. The major application areas of coiled tubing includes wellbore cleaning, well stimulation, logging, nitrogen pumping, perforations and drilling.
The report recognizes the following companies as the key players in the Global Coiled Tubing Market: Baker Hughes Inc., Halliburton Co., Key Energy Services, Schlumberger Ltd., Superior Energy Services Inc. and Weatherford International Ltd.
Other prominent vendors in the market are: Aker Solution, Archer – The Well Company, C&J Energy Services, Calfrac Well Services, Cwc Well Services Corporation, Essential Energy Services, Nabors Industries, Pioneer Energy Services, RPC, Sanjel, Savanna Energy Services, Trican Well Service and Xtreme Drilling And Coil Services.
The Global Coiled Tubing market can be segmented into three service types: Well Intervention, Drilling, and Others.
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The Global Coiled Tubing Market 2014-2018 has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, and the EMEA and APAC regions; it also covers the Global Coiled Tubing market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.