Dublin, Jan. 12, 2015 (GLOBE NEWSWIRE) -- Research and Markets (http://www.researchandmarkets.com/research/tfg3t3/coiled_tubing) has announced the addition of the "Coiled Tubing Market by Services, Active Fleet & by Geography - Global Trends & Forecast to 2019" report to their offering.
With the high demand for the energy in African, the Middle Eastern and Asian region there has been an increase in the exploration activities in those regions. This has enhanced the coiled tubing market which is estimated to grow and reach value of approx. $4.3 billion at a CAGR of 7-8% from 2014 to 2019.
Coiled Tubing is used as a cost effective solution for numerous well workover and intervention applications with the key advantage of the ability to continuously circulate through the tubing while utilizing the CT pressure control equipment in treating a live well. The tool string at the bottom of the coil is called as Bottom Hole Assembly (BHA). It can be a simple jetting nozzle, to pump chemicals or cement through the coil or large string of logging tools.
The coiled tube is straightened before being inserted into a wellbore and is re-spooled back onto the reel after completion of the operation in the wellbore. The key CT service categories include well intervention services, including well completion &well cleaning, CT drilling, and others. Some of the key uses of CT include circulation, pumping, logging, perforation, and production.
Potential increase in recoverable resources and increased exploration and production, and completion activities are the most important drivers for the coiled tubing services market. Coiled tubing services are used to enhance both oil and natural gas production, while these services are necessary for any type of well in order to complete it and enhance production. Increasing focus toward natural gas production also require coiled tubing services.
North American is the largest market for Coiled Tubing, followed by Europe.The Middle East and African market continues to be the key growth area due to increasing demand for innovative technology in terms of oil & gas application, which is backed by new investments in the market. Ongoing and upcoming developments in offshore drilling and massive shale exploration and production activities are high opportunity areas for the Coiled Tubing service market. Growing energy demand and increasing E&P spending are major drivers for the market.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Coiled Tubing Active Fleet
8 Coiled Tubing Market, By Services
9 Geographic Analysis
10 Competitive Landscape
11 Company Profiles
- Archer Limited
- Baker Hughes Inc.
- C&J Energy Services, Inc.
- Calfrac Well Services Ltd.
- Halliburton Company
- Key Energy Services, Inc.
- Nabors Industries Ltd.
- RPC, Inc.
- Sanjel Corporation
- Schlumberger Ltd
- Superior Energy Services, Inc.
- Weatherford International Ltd
For more information visit http://www.researchandmarkets.com/research/tfg3t3/coiled_tubing
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Source:Research and Markets