Global Coiled Tubing Market Growth, Share, Size, Trends and Forecast (2025 - 2031)
By Service;
Well Intervention, Drilling ,and OthersBy Operation;
Circulation, Pumping, Logging, Perforation, and OthersBy Application;
Onshore and OffshoreBy Geography;
North America, Europe, Asia Pacific, Middle East & Africa, and Latin America - Report Timeline (2021 - 2031)Coiled Tubing Market Overview
Coiled Tubing Market (USD Million)
Coiled Tubing Market was valued at USD 1,993.70 million in the year 2024. The size of this market is expected to increase to USD 2,553.75 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 3.6%.
Global Coiled Tubing Market Growth, Share, Size, Trends and Forecast
*Market size in USD million
CAGR 3.6 %
Study Period | 2025 - 2031 |
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Base Year | 2024 |
CAGR (%) | 3.6 % |
Market Size (2024) | USD 1,993.70 Million |
Market Size (2031) | USD 2,553.75 Million |
Market Concentration | High |
Report Pages | 323 |
Major Players
- John Lawrie Group
- Sandvik AB
- Forum Energy Technologies, Inc.
- Gautam Tube Corporation
- HandyTube
- National Oilwell Varco
- Stewart & Stevenson
- T&H Lemont
- Tenaris
- Trident Steel Corporation
Market Concentration
Consolidated - Market dominated by 1 - 5 major players
Global Coiled Tubing Market
Fragmented - Highly competitive market without dominant players
The Coiled Tubing Market is witnessing significant momentum driven by rising demand for efficient well intervention services and enhanced oil recovery operations. A surge of over 35% in usage across aging oil fields is stimulating the adoption of coiled tubing systems. Technological innovations in tubing materials and advanced deployment methods have further optimized operational costs and efficiency. The market continues to gain traction due to its ability to minimize downtime and enhance productivity in both onshore and offshore applications.
Technological Advancements
Continuous improvements in tubing fatigue resistance, real-time monitoring systems, and digital pressure control are advancing the reliability of coiled tubing systems. Automation technologies are being incorporated into nearly 30% of new coiled tubing units to improve safety and operational control. These enhancements are also supporting deeper well access and high-pressure operations. The fusion of smart tools with coiled tubing is opening up new avenues for diagnostics and treatment in complex well environments.
Operational Efficiency
Coiled tubing operations offer 25%–45% faster deployment rates compared to conventional drilling methods, contributing to time and cost savings. Their continuous tubing structure enables uninterrupted well access, reducing the need for repetitive handling and assembly. The market has also seen improved logistics handling, with a 20% rise in modular coiled tubing unit deployments. These efficiency gains are increasingly being recognized as critical for maximizing return on investment in upstream operations.
Future Outlook
The market is poised for consistent growth as energy companies shift toward sustainable and optimized oil extraction techniques. Innovations supporting low-emission operations and recyclable tubing materials are expected to influence buying patterns. An estimated 50% of upcoming field developments are projected to incorporate coiled tubing as a primary service tool. With a focus on operational resilience and performance enhancement, the coiled tubing sector is becoming an indispensable part of modern oilfield services.
Coiled Tubing Market Recent Developments
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In September 2022, STEP Energy Services acquired four ultra-deep coiled tubing units from ProPetro, including both equipment and field personnel. The acquisition, valued at 17.2 million, aims to expand STEP’s service reach in the Permian Basin. This move strengthens its capabilities in high‑pressure well intervention and deep horizontal drilling operations.
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In May 2025, Halliburton deployed its largest-ever coiled tubing intervention system at the New Iberia Training Facility in Louisiana. The system includes a V135HP injector. This innovation enhances Halliburton’s ability to deliver complex downhole operations with precision and scale.
Coiled Tubing Market Segment Analysis
In this report, the Coiled Tubing Market has been segmented by Service, Operation, Application and Geography.
Coiled Tubing Market, Segmentation by Service
The Coiled Tubing Market has been segmented by Service into Well Intervention, Drilling ,and Others
Well Intervention
Well intervention dominates the coiled tubing market, accounting for over 65% of global demand. This segment covers key maintenance operations such as acidizing, well cleaning, and fishing, which help restore or boost well productivity. Its ability to minimize downtime and costs makes it a popular solution, particularly in aging and brownfield developments.
Drilling
Drilling with coiled tubing represents nearly 20% of market applications and is increasingly used for its efficiency and safety. By enabling continuous circulation, it helps reduce non-productive time and is well-suited for underbalanced drilling. Its usage is expanding in unconventional and hard-to-reach reservoirs due to operational flexibility.
Others
The others segment contributes close to 15% of the coiled tubing market and includes key services like fracturing, scale removal, and logging. These services play a vital role in extending well life and enhancing subsurface data analysis. Technological advancements, especially in digital monitoring, are supporting steady growth in this segment.
Coiled Tubing Market, Segmentation by Operation
The Coiled Tubing Market has been segmented by Operation into Circulation, Pumping, Logging, Perforation, and Others.
Circulation
Circulation is one of the most widely used coiled tubing operations, contributing approximately 30% of the total market. It helps in removing wellbore blockages, circulating out kill-weight fluids, and improving overall well productivity. Its ability to maintain well integrity during interventions makes it a preferred technique in both onshore and offshore fields.
Pumping
Pumping operations make up nearly 25% of the coiled tubing market. This process involves delivering fluids like acids, cement, or chemicals into the wellbore under pressure. It plays a critical role in matrix stimulation, well clean-outs, and controlling formation damage, especially in mature oilfields.
Logging
Logging accounts for about 15% of the operational use of coiled tubing. It enables real-time data collection related to wellbore conditions such as temperature, pressure, and flow rates. The use of coiled tubing for logging allows access to highly deviated or horizontal wells where wireline tools may fall short.
Perforation
Perforation holds around 10% of the market share and involves creating tunnels in the casing and cement to connect the reservoir with the wellbore. Coiled tubing-conveyed perforation is preferred for its accuracy and ability to operate under live-well conditions without killing the well.
Others
The "Others" category contributes roughly 20% and includes a range of specialized services like milling, fishing, and setting plugs. These operations are often tailored to unique field challenges and continue to gain traction with advancements in coiled tubing technologies.
Coiled Tubing Market, Segmentation by Application
The Coiled Tubing Market has been segmented by Application into Onshore and Offshore.
Onshore
The onshore segment dominates the coiled tubing market, accounting for nearly 70% of the global share. It is widely used in land-based oil and gas fields due to lower operational costs, easier accessibility, and the presence of mature wells requiring frequent maintenance. Increased shale gas exploration and enhanced oil recovery operations further boost its demand in onshore environments.
Offshore
The offshore segment comprises around 30% of the coiled tubing application market. These operations are more complex and capital-intensive but essential for maintaining deepwater and ultra-deepwater wells. The demand for offshore coiled tubing is growing due to increasing offshore exploration activities and the rising focus on subsea well interventions.
Coiled Tubing Market, Segmentation by Geography
In this report, the Coiled Tubing Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Regions and Countries Analyzed in this Report
Coiled Tubing Market Share (%), by Geographical Region
North America
North America leads the global coiled tubing market, holding approximately 35% of the market share. The United States is the primary contributor, driven by extensive shale gas activities, tight oil production, and high well intervention frequency. Technological advancements and a strong focus on well efficiency optimization further support regional growth.
Europe
Europe accounts for around 20% of the global market. Countries like Russia, the UK, and Norway are key players, utilizing coiled tubing primarily in mature fields and offshore reservoirs. Stringent environmental regulations and rising investments in enhanced oil recovery (EOR) techniques contribute to steady market demand.
Asia Pacific
The Asia Pacific region contributes nearly 18% of the coiled tubing market. Countries such as China, India, and Australia are driving growth through increased onshore drilling activities, exploration projects, and rising energy demand. Government initiatives supporting domestic production also help accelerate adoption.
Middle East and Africa
This region holds about 15% market share, with significant contributions from Saudi Arabia, the UAE, and Nigeria. The market benefits from large-scale oilfield service contracts, deepwater operations, and a strong presence of national oil companies (NOCs). The push for operational efficiency in high-temperature reservoirs fuels further adoption.
Latin America
Latin America comprises approximately 12% of the global coiled tubing market. Brazil, Mexico, and Argentina are the key contributors, with ongoing offshore field developments, particularly in pre-salt reserves. Regional demand is expected to grow steadily as investments in unconventional oil extraction increase.
Coiled Tubing Market Trends
This report provides an in depth analysis of various factors that impact the dynamics of Coiled Tubing Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.
Comprehensive Market Impact Matrix
This matrix outlines how core market forces—Drivers, Restraints, and Opportunities—affect key business dimensions including Growth, Competition, Customer Behavior, Regulation, and Innovation.
Market Forces ↓ / Impact Areas → | Market Growth Rate | Competitive Landscape | Customer Behavior | Regulatory Influence | Innovation Potential |
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Drivers | High impact (e.g., tech adoption, rising demand) | Encourages new entrants and fosters expansion | Increases usage and enhances demand elasticity | Often aligns with progressive policy trends | Fuels R&D initiatives and product development |
Restraints | Slows growth (e.g., high costs, supply chain issues) | Raises entry barriers and may drive market consolidation | Deters consumption due to friction or low awareness | Introduces compliance hurdles and regulatory risks | Limits innovation appetite and risk tolerance |
Opportunities | Unlocks new segments or untapped geographies | Creates white space for innovation and M&A | Opens new use cases and shifts consumer preferences | Policy shifts may offer strategic advantages | Sparks disruptive innovation and strategic alliances |
Drivers, Restraints and Opportunity Analysis
Drivers
- Growing shale gas and oil well interventions
- Rising demand for cost-effective drilling solutions
- Advancements in coiled tubing technology deployment
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Increased use in wellbore cleanout operations - Energy producers increasingly turn to coiled tubing cleanout services to remove sand, scale, and debris without halting production. Unlike traditional drillpipe, continuous tubing maintains circulation while entering the well, slashing downtime and safeguarding output.
Maturing fields face rising blockages that restrict flow. Flexible tubing reaches deep, deviated sections, delivering targeted solvents and high-pressure jets that restore reservoir connectivity faster than costly workovers.
Precision control and real-time data let crews adjust pumping rates instantly, improving safety and reducing chemical use. Operators gain longer well life and higher recovery with minimal surface footprint, a key advantage for both onshore and offshore sites.
As budgets shift from new drilling to maximizing existing assets, demand for fast, cost-effective cleanout interventions will keep coiled-tubing units in the field and rental fleets fully booked.
Restraints
- High operational risk in extreme conditions
- Technical limitations in deep or HPHT wells
- Volatile crude oil prices affecting investments
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Frequent mechanical wear increases maintenance costs - Repeated bending, unspooling, and exposure to high-pressure, high-temperature fluids accelerate metal fatigue in coiled strings. Micro-cracks and ovality raise the risk of failure, forcing operators to conduct frequent inspections, corrosion checks, and string replacements.
Every maintenance cycle demands skilled labor, downtime, and specialized equipment. Remote or offshore campaigns face steeper costs as replacement reels, hydraulic injectors, and spare parts must be mobilized by sea or air.
Even with advanced metallurgy and protective coatings, aggressive well conditions shorten service life. Rising steel prices and supply-chain delays compound the expense, squeezing margins for service providers and operators alike.
Until durability advances outpace field stresses, these recurring repair and replacement costs will temper adoption, especially in price-sensitive projects or extreme HPHT reservoirs.
Opportunities
- Expansion of mature oilfield redevelopment projects
- Emerging offshore exploration in new regions
- Increased automation and real-time data analytics
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Rising demand for underbalanced drilling techniques - Underbalanced drilling (UBD) keeps wellbore pressure below reservoir pressure, protecting fragile formations and accelerating hydrocarbon flow. Coiled tubing’s ability to circulate fluids and deploy tools in a live well makes it a cornerstone of UBD programs.
Operators drilling depleted or tight reservoirs value the technique’s reduced formation damage and faster penetration rates. Coiled-tubing units equipped with pressure-control heads, real-time sensors, and specialized bottom-hole assemblies deliver continuous drilling without costly trips.
Advances in downhole motors, telemetry, and surface control systems let crews steer, log, and adjust parameters on the fly, turning coiled tubing into a versatile platform for directional UBD in both land and offshore settings.
As the sector seeks more efficient, low-impact extraction methods, the synergy between UBD techniques and coiled-tubing technology presents a clear growth path for service companies, equipment manufacturers, and forward-thinking operators.
Coiled Tubing Market Competitive Landscape Analysis
Key players in Coiled Tubing Market include:
- John Lawrie Group
- Sandvik AB
- Forum Energy Technologies, Inc.
- Gautam Tube Corporation
- HandyTube
- National Oilwell Varco
- Stewart & Stevenson
- T&H Lemont
- Tenaris
- Trident Steel Corporation
In this report, the profile of each market player provides following information:
- Company Overview and Product Portfolio
- Market Share Analysis
- Key Developments
- Financial Overview
- Strategies
- Company SWOT Analysis
- Introduction
- Research Objectives and Assumptions
- Research Methodology
- Abbreviations
- Market Definition & Study Scope
- Executive Summary
- Market Snapshot, By Service
- Market Snapshot, By Operation
- Market Snapshot, By Application
- Market Snapshot, By Region
- Coiled Tubing Market Dynamics
- Drivers, Restraints and Opportunities
- Drivers
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Growing shale gas and oil well interventions
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Rising demand for cost-effective drilling solutions
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Advancements in coiled tubing technology deployment
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Increased use in wellbore cleanout operations
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- Restraints
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High operational risk in extreme conditions
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Technical limitations in deep or HPHT wells
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Volatile crude oil prices affecting investments
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Frequent mechanical wear increases maintenance costs
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- Opportunities
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Expansion of mature oilfield redevelopment projects
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Emerging offshore exploration in new regions
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Increased automation and real-time data analytics
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Rising demand for underbalanced drilling techniques
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- Drivers
- PEST Analysis
- Political Analysis
- Economic Analysis
- Social Analysis
- Technological Analysis
- Porter's Analysis
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- Threat of Substitutes
- Threat of New Entrants
- Competitive Rivalry
- Drivers, Restraints and Opportunities
- Market Segmentation
- Coiled Tubing Market, By Service, 2021 - 2031 (USD Million)
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Well Intervention
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Drilling
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Others
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- Coiled Tubing Market, By Operation, 2021 - 2031 (USD Million)
- Circulation
- Pumping
- Logging
- Perforation
- Others
- Coiled Tubing Market, By Application, 2021 - 2031 (USD Million)
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Onshore
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Offshore
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- Coiled Tubing Market, By Geography, 2021 - 2031 (USD Million)
- North America
- United States
- Canada
- Europe
- Germany
- United Kingdom
- France
- Italy
- Spain
- Nordic
- Benelux
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia & New Zealand
- South Korea
- ASEAN (Association of South East Asian Countries)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- North America
- Coiled Tubing Market, By Service, 2021 - 2031 (USD Million)
- Competitive Landscape
- Company Profiles
- John Lawrie Group
- Sandvik AB
- Forum Energy Technologies, Inc.
- Gautam Tube Corporation
- HandyTube
- National Oilwell Varco
- Stewart & Stevenson
- T&H Lemont
- Tenaris
- Trident Steel Corporation
- Company Profiles
- Analyst Views
- Future Outlook of the Market