Boston, MA -- (SBWIRE) -- 08/15/2013 -- Coiled Tubing (CT) is a continuously milled lengthy tubular product spooled onto a take-up reel with key service offerings in the oil and gas industry. The CT service market and fleet grew marginally in the recent past and will continue to grow at a moderate rate globally with Asia-Pacific, Middle East, and European markets on a higher positive front.

A CT unit usually comprises a set of equipment to perform standard continuous-length tubing operations in the oil and gas fields. Coiled tubes are generally made of low-alloy carbon-steel and range from 0.75 inches to 4 inches in diameter with single reel tubing lengths reaching 30,000 feet with yield strengths ranging from 55,000 PSI to 120,000 PSI. A standard CT unit comprises of four elements;reel, injector head, control cabin, and power rack.

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CT is used as a cost-effective solution for numerous well work 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 known 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 report analyzes the coiled tubing service market and active fleet in different regions. The report also provides a market overview of coiled tubing by different service types. Among these services, well intervention holds the biggest share with 78% of the total revenue in 2012. CT drilling holds 8% of the total share and other applications accounted for the remaining share of 14%.

CT SERVICES: GLOBAL OVERVIEW

Coiled Tubing Market

Source: Expert Interviews, MarketsandMarkets Analysis

For this report, major players in the market are identified through secondary and primary research. Based on that, their market shares are evaluated. This includes a study of the annual reports of top market players and interviews with key opinion leaders, such as CEOs, Directors, and marketing people.

The size of the overall market is determined by forecasting techniques based on coiled tubing fleet count, and E&P spending in different geographical regions which are validated through primary sources. The market data is available from 2011 to 2018, growing at a CAGR of 7.0% from 2013 to 2018.

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