Deerfield Beach, FL -- (SBWIRE) -- 09/09/2016 -- Latest industry research report on A Coil Tubing (CT) normally consists of a set of equipment which performs standard continuous-length tubing operations in the oil & gas fields, mainly for upstream activities. Coiled tubes are made up of very low-alloy carbon-steel and is needed in oil & gas industry during the phase of completion and oil recovery. With a large number of oil fields maturing, global production of oil volumes has decreased, companies in the exploration process need high-performing products. With growing investments in the energy sector, CT has a large application project related to shale gas development.

The adoption of technologically advanced tools and techniques by many oil & gas companies in order to access residual reserves on conventional acreages is a key factor driving the growth of the market. However, the rising prices of crude oil lead different oil & gas exploration companies to cut costs by reducing production is a key restraining factor hampering the growth of the market.

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Moreover, environmental concerns related to coastal wetlands and water bodies, underwater plumes, coral ecosystems, along with problems such as ocean acidification and marine life destruction also adversely hinders the market growth. Ongoing and upcoming projects in offshore drilling and shale exploration & production activities offer abundant growth opportunities for the African coiled tubing service market.

The report segments the African coiled tubing market on the basis of service, application and geography. Based on service, the market is segmented into well intervention, drilling and others. On the basis of application, the market is segmented into onshore and offshore. On the basis of country, the market is segmented into Algeria and Egypt.Prominent players operating in this market are Schlumberger Ltd., Baker Hughes Inc., Calfrac Well Services Ltd., Halliburton Co., Trican Well Services Ltd., Aker Solutions ASA and Weatherford International Plc.

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