市場調查報告書
商品編碼
1500300
全球連續油管市場2024-2031Global Coiled Tubing Market 2024-2031 |
預計在預測期內(2024-2031年)連續油管市場將以 4.7%的年複合成長率成長。連續油管是一種長材料管道和地面設備,最初用於(活)井的生產。連續油管的用途已超出清潔和酸增產等傳統應用範圍。
市場動態
Global Coiled Tubing Market Size, Share & Trends Analysis Report by Operation (Pumping, Circulation, Logging, and Perforation) by Application (Onshore and Offshore) and by Service (Well Intervention, Drilling, and Completion) Forecast Period (2024-2031)
The coiled tubing market is anticipated to grow at a CAGR of 4.7% during the forecast period (2024-2031). Coiled tubing is a long material pipe and surface equipment that was originally intended to be used in the production of (live) wells. The use of coiled tubing has expanded beyond traditional applications such as cleaning and acid stimulation.
Market Dynamics
Expansion of Offshore Exploration and Production Activities Increases Market Demand
The offshore oil and gas sector's expansion, particularly into deep and ultra-deepwater regions, is a significant growth driver for the coiled tubing market. Coiled tubing units, known for their versatility in well interventions, drilling operations, and production enhancement techniques, are increasingly utilized in offshore environments. This trend is fueled by the ongoing exploration and development of offshore fields, where coiled tubing's capabilities are critical for the success of such ventures. The demand for coiled tubing services in offshore settings is poised for growth, reflecting the industry's push toward exploring new frontiers and maximizing the yield from these challenging environments. As offshore exploration and production activities continue to advance, the reliance on coiled tubing services is expected to rise, further stimulating market growth.
Growth of Enhanced Oil Recovery (EOR) Methodologies
Globally, manufacturers of coiled tubing have a lot of opportunities because of the increased focus on optimizing hydrocarbon recovery from current reservoirs. Moreover, enhanced oil recovery (EOR) methods like chemical treatments, gas injection, and water flooding are being used to extract more oil and gas from developed fields. Because it offers a versatile and affordable way to transfer fluids and treatments into the reservoir, coiled tubing technology is essential to the implementation of EOR techniques.
Market Segmentation
Well Intervention is Projected to Emerge as the Largest Segment
The well-intervention segment is expected to hold the largest share of the market. The primary factor supporting the segment's growth includes the increasing demand for enhanced oil recovery techniques and the need to maintain the productivity of aging oil wells. Well, intervention and production services are critical in extending the life of oil wells, optimizing their output, and ensuring operational efficiency. These services include a range of operations such as well stimulation, sand control, zonal isolation, and scale removal, which are vital for sustaining production levels and mitigating the decline in mature fields.
Onshore Segment to Hold a Considerable Market Share
The onshore segment of the coiled tubing market, with a considerable market share, reflects the significant role of terrestrial oil and gas operations in the industry. Its growth is driven by the extensive infrastructure, technological advancements, and relatively lower operational complexities associated with onshore activities compared to offshore operations. Onshore applications of coiled tubing include a wide range of services from drilling to well intervention, completion, and maintenance, highlighting the versatility and efficiency of coiled tubing in enhancing production and recovery rates in terrestrial settings.
The global coiled tubing market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).
The European region is likely to witness a growth in terms of volume, over the forecast period. The region is focusing on making a transition of its energy mix from fossil fuel to renewable energy. Moreover, the Russia-Ukraine conflict has created a negative impact on the gas supply of the region. Such factors are expected to restrain demand for coiled tubing in Europe during the forecast period.
North America Holds Major Market Share
Among all the regions, North America holds a significant share among all regions due to increasing gas production and exploration activities. There is rising awareness related to the benefits of using coiled tubing for upstream industries. The United States market is witnessing a drastic increase in capital expenditure for exploration, development, and tight oil production. Moreover, there is an increase in shale gas developments in the US. Developed countries such as the United States and Canada are the major coiled tubing consumers for upstream activities. The dynamics within North America are characterized by innovative drilling techniques and a strong focus on maximizing oil and gas extraction efficiency. The region's swift adoption of advanced technologies for well interventions, alongside a growing number of mature wells requiring maintenance, positions coiled tubing as an essential service. Furthermore, the commitment to environmental standards and the development of unconventional resources propels the demand for coiled tubing services.
The major companies serving the global coiled tubing market include Baker Hughes Company, Calfrac Well Services Ltd., Schlumberger Ltd, and Weatherford International PLC, among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions to stay competitive in the market. For instance, in August 2022, NexTier Oilfield Solutions Inc. and its wholly-owned subsidiary, NexTier Completion Solutions Inc., finalized a definitive agreement to acquire the assets of the sand hauling, well-site storage, and last-mile logistics businesses of Continental Intermodal Group LP and its subsidiaries.