Coiled Tubing Unit Market Report 2025 (Global Edition)

Global Coiled Tubing Unit Market Report 2025 Market Size Split by Application Outlook: (Onshore, Offshore), by Well Type Outlook: (Oil Wells, Gas Wells, Geothermal Wells, Water Injection Wells), by Se...

Coiled Tubing Unit Market Report Description

We have various report editions of Coiled Tubing Unit Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.

Competitive Landscape of the Coiled Tubing Unit Market

The competitive landscape of the coiled tubing unit market is characterized by a mix of established companies and emerging players. Key participants include Halliburton, Schlumberger, Baker Hughes, and Weatherford, which dominate due to their extensive service offerings and technological advancements. Companies are increasingly focusing on innovative coiled tubing solutions, such as enhanced performance and safety features. Strategic partnerships, mergers, and acquisitions are common as firms seek to expand their market reach and capabilities. Additionally, the growing demand for efficient oil and gas extraction techniques drives competition, with players investing in research and development to meet evolving industry needs.

In January 2022, Schlumberger announced a five-year deal to drill coiled tubing at a significant Saudi gas field. (Source: https://www.saudigulfprojects.com/2022/01/schlumberger-awarded-contracts-from-saudi-arabia/) In June 2022, John Lawrie Metals decided to enlarge its decommissioning facility at Montrose Port. John Lawrie Metals Ltd., the top metal recycling and processing business in Scotland's north and northeast, has announced the expansion of its dedicated decommissioning plant at Montrose Port. (Source: https://montroseport.co.uk/2022/06/23/john-lawrie-metals-expands-decom-facility-at-montrose-port/) In July 2021, The Abu Dhabi National Oil Company (ADNOC) stated that it would invest USD 763.7 million in integrated rigless services on six of its artificial islands in the Satah Al Razboot and Upper Zakum fields. The contracts include wireline and production logging services and tools, well integrity, surface well testing, stimulation services (including equipment and chemicals/fluid systems), coiled tubing services with thru-tubing downhole tools, and saturation monitoring. (Source: https://www.adnoc.ae/en/news-and-media/press-releases/2021/adnoc-invests-over-$750-million-in-drilling-related-services-to-support-production-capacity-growth)

Top Companies Market Share in Coiled Tubing Unit Industry: (In no particular order of Rank)

• * Stewart & Stevenson
• * T&H Lemont
• * Tenaris
• * John Lawrie Group
• * Trident Steel Corporation
• * Gautam Tube Corporation
• * HandyTube
• * National Oilwell Varco
• * John Lawrie Group
• * Sandvik AB
• * Forum Energy Technologies
• Inc.
• * Schlumberger
• * Baker Hughes Company
• * The Abu Dhabi National Oil Company
• * CALFRAC WELL SERVICES LTD
• * Halliburton
• * Weatherford
• Confidential Data
• Access The Paid Version
• Data Hidden

*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Coiled Tubing Unit Market

Which Region Dominates the Coiled Tubing Unit Market in 2024?

According to Cognitive Market Research, North America currently dominates the Coiled Tubing Units market, and the region is expected to have significant growth during the projected period. This is due to increased oil and gas exploration activities, advancements in drilling technologies, and the need for efficient well-intervention services. The region's established infrastructure and investment in energy projects further enhance its market leadership.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR). The increasing oil and gas exploration activities, rising demand for efficient, good maintenance, and technological advancements in coiled tubing operations enhance operational efficiency and cost-effectiveness.

The current report Scope analyzes Coiled Tubing Unit Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Switzerland, Luxembourg, Rest of Europe)
• Asia Pacific (China, Japan, South Korea, India, Australia, Singapore, Taiwan, South East Asia, Rest of APAC)
• Latin America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East (Saudi Arabia, Turkey, UAE, Egypt, Qatar, Rest of Middle East)
• Africa (Nigeria, South Africa, Rest of Africa)

The above graph is for illustrative purposes only.

North America Coiled Tubing Unit Market Analysis

<P>According to Cognitive Market Research, the global Coiled Tubing Unit market size was estimated at USD 3521.5 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 1408.60 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.2% from 2024 to 2031.</P> <ul><li>According to Cognitive Market Research, the U.S. had a major share in the Coiled Tubing Unit market with a market size of USD 1111.39 million in 2024 and is projected to grow at a CAGR of 3.0% during the forecast period. The U.S. market's Stringent governmental regulations against plastic pollution.</li> <li>The Canada Coiled Tubing Unit market had a market share of USD 169.03 million in 2024 and is projected to grow at a CAGR of 4.0% during the forecast period. Canada’s rising awareness among the population.</li> <li>The Mexico Coiled Tubing Unit market is projected to grow at a CAGR of 3.7% during the forecast period, with a market size of USD 128.18 million in 2024.</li></ul>

Europe Coiled Tubing Unit Market Analysis

<p>According to Cognitive Market Research, the global Coiled Tubing Unit market size was estimated at USD 3521.5 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 1056.45 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.5% from 2024 to 2031.</P> <ul><li>The United Kingdom Coiled Tubing Unit market had a market share of USD 177.48 million in 2024 and is projected to grow at a CAGR of 4.3% during the forecast period. In the U.K., Coiled Tubing Unit sales witnessed an upswing due to the increasing focus on environmental sustainability.</li> <li>The France Coiled Tubing Unit market is projected to grow at a CAGR of 2.7% during the forecast period, with a market size of USD 97.19 million in 2024.</li> <li>According to Cognitive Market Research, the German Coiled Tubing Unit market size was valued at USD 209.18 million in 2024 and is projected to grow at a CAGR of 3.7% during the forecast period. In Germany, the Coiled Tubing Unit surged due to the Increased focus of the manufacturers and major market players.</li> <li>The Italy Coiled Tubing Unit market is projected to grow at a CAGR of 2.9% during the forecast period, with a market size of USD 90.85 million in 2024.</li> <li>The Russia Coiled Tubing Unit market is projected to grow at a CAGR of 2.5% during the forecast period, with a market size of USD 163.75 million in 2024.</li> <li>The Spain Coiled Tubing Unit market is projected to witness growth at a CAGR of 2.6% during the forecast period with a market size of USD 86.63 million in 2024</li> <li>The Luxembourg Coiled Tubing Unit market is projected to grow at a CAGR of 3.6% during the forecast period, with a market size of USD 32.75 million in 2024.</li> <li>The Portugal Coiled Tubing Unit market is projected to grow at a CAGR of 3.3% during the forecast period, with a market size of USD 22.19 million in 2024.</li> <li>The Greece Coiled Tubing Unit market is projected to grow at a CAGR of 3.8% during the forecast period, with a market size of USD 12.68 million in 2024.</li> <li>The Rest of Europe's Coiled Tubing Unit market is projected to grow at a CAGR of 2.2% during the forecast period, with a market size of USD 163.75 million in 2024.</li></ul>

Asia Pacific Coiled Tubing Unit Market Analysis

<P>According to Cognitive Market Research, the global Coiled Tubing Unit market size was estimated at USD 3521.5 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 809.95 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.0% from 2024 to 2031.</P> <ul><li>According to Cognitive Market Research, the China Coiled Tubing Unit market size was valued at USD 364.48 million in 2024 and is projected to grow at a CAGR of 6.5% during the forecast period. Coiled Tubing Unit surged in China due to the Increased focus of the manufacturers and major market players.</li> <li>The Japan Coiled Tubing Unit market is projected to grow at a CAGR of 5.5% during the forecast period, with a market size of USD 111.77 million in 2024.</li> <li>The India Coiled Tubing Unit market had a market share of USD 97.19 million in 2024 and is projected to grow at a CAGR of 8.8% during the forecast period. India's rising awareness among the populations .</li> <li>The South Korean Coiled Tubing Unit market is projected to grow at a CAGR of 6.1% during the forecast period, with a market size of USD 80.99 million in 2024.</li> <li>The Australian Coiled Tubing Unit market is projected to grow at a CAGR of 6.7% during the forecast period, with a market size of USD 42.12 million in 2024.</li> <li>The South East Asia Coiled Tubing Unit market is projected to grow at a CAGR of 8.0% during the forecast period, with a market size of USD 55.89 million in 2024.</li> <li>The Rest of Asia Pacific Coiled Tubing Unit market is projected to grow at a CAGR of 6.8% during the forecast period, with a market size of USD 57.51 million in 2024.</li></ul>

South America Coiled Tubing Unit Market Analysis

<P>According to Cognitive Market Research, the global Coiled Tubing Unit market size was estimated at USD 3521.5 Million, out of which Latin America held the market share of around 5% of the global revenue with a market size of USD 176.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2031.</P> <ul><li>According to Cognitive Market Research, the Brazil Coiled Tubing Unit market size was valued at USD 75.36 million in 2024 and is projected to grow at a CAGR of 5.0% during the forecast period. Coiled Tubing Units flourished in Brazil due to increasing demand for packaged food and beverages.</li> <li>Argentina's Coiled Tubing Unit market had a market share of USD 29.58 million in 2024 and is projected to grow at a CAGR of 5.3% during the forecast period. Argentina's rising personal disposable income .</li> <li>Colombia Coiled Tubing Unit market is projected to grow at a CAGR of 4.2% during the forecast period, with a market size of USD 15.67 million in 2024.</li> <li>Peru Coiled Tubing Unit market is projected to grow at a CAGR of 4.6% during the forecast period, with a market size of USD 14.44 million in 2024.</li> <li>Chile Coiled Tubing Unit market is projected to grow at a CAGR of 4.7% during the forecast period, with a market size of USD 12.68 million in 2024.</li> <li>The Rest of Latin America's Coiled Tubing Unit market is projected to grow at a CAGR of 3.5% during the forecast period, with a market size of USD 28.35 million in 2024.</li></ul>

Middle East Coiled Tubing Unit Market Analysis

<P>According to Cognitive Market Research, the global Coiled Tubing Unit market size was estimated at USD 3521.5 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 70.43 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031..</P> <ul><li>The GCC Countries Coiled Tubing Unit market is projected to grow at a CAGR of 5.5% during the forecast period, with a market size of USD 30.14 million in 2024. Coiled Tubing Unit sales flourish due to the presence of major market players.</li> <li>The Egypt Coiled Tubing Unit market is projected to grow at a CAGR of 5.0% during the forecast period, with a market size of USD 7.40 million in 2024.</li> <li>The South Africa Coiled Tubing Unit market is projected to grow at a CAGR of 5.7% during the forecast period, with a market size of USD 11.13 million in 2024. Coiled Tubing Unit sales flourished in South Africa due to increasing demand and regulatory support.</li> <li>The Turkey Coiled Tubing Unit market is projected to grow at a CAGR of 4.2% during the forecast period, with a market size of USD 6.06 million in 2024.</li> <li>The Nigeria Coiled Tubing Unit market is projected to grow at a CAGR of 3.8% during the forecast period, with a market size of USD 7.40 million in 2024.</li> <li>The Rest of the MEA Coiled Tubing Unit market is projected to grow at a CAGR of 3.7% during the forecast period, with a market size of USD 8.31 million in 2024.</li></ul>

Coiled Tubing Unit Market Analysis

Coiled Tubing Unit Market Application Segment Analysis

According to Cognitive Market Research, the onshore segment dominates the coiled tubing unit market due to several factors: lower operational costs compared to offshore operations, easier access to infrastructure, and the high demand for good interventions in mature fields. Onshore projects typically require fewer complex logistics and have shorter mobilization times, enhancing efficiency. Additionally, the increasing focus on enhanced oil recovery (EOR) techniques in onshore environments drives the need for coiled tubing services, further solidifying its market leadership.

In the Coiled Tubing Unit market, the rapidly growing sector is the offshore sector drives the fastest growth in the Coiled Tubing Unit market due to increasing demand for oil and gas exploration and production in deepwater and offshore fields. Offshore operations require specialized equipment like coiled tubing units for efficient well intervention, maintenance, and stimulation. The rising need for enhanced oil recovery, complex well services, and efficient drilling techniques in remote offshore locations fuel this market segment's rapid expansion, leading to advancements in coiled tubing technology for offshore applications.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Coiled Tubing Unit Industry. Request a Free Sample PDF!

How are Segments Performing in the Global Coiled Tubing Unit Market?

Coiled Tubing Unit Market Well Type Segment Analysis

According to Cognitive Market Research, Oil wells dominate the Coiled Tubing Unit (CTU) market due to their crucial role in maintaining and enhancing oil and gas production. CTUs are used for tasks such as drilling, completion, well interventions, and maintenance. As exploration and production activities expand globally, the demand for efficient well intervention services, such as those provided by coiled tubing, grows. These units offer cost-effective, real-time solutions for tasks like reservoir stimulation and pressure control, driving their widespread use in the oil industry.

Gas wells hold the fastest-growing share in the coiled tubing unit (CTU) market due to their increasing demand for efficient and cost-effective solutions in well intervention operations. CTUs are vital for operations such as well cleaning, pressure testing, and stimulation, which are crucial for maintaining gas production. The rise in natural gas exploration and production, coupled with the need for enhanced well performance and reduced operational downtime, drives the adoption of coiled tubing units in gas well application.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Coiled Tubing Unit Service Type Outlook: Segment Analysis

Coiled Tubing Unit Market Service Type Segment Analysis

According to Cognitive Market Research, Well intervention holds the largest share of the coiled tubing unit market due to its critical role in maintaining and enhancing oil and gas production. Coiled tubing units are essential for performing a variety of operations, such as well cleaning, stimulation, and plugging, without the need to rig up a drilling rig. The ability to perform these interventions efficiently, cost-effectively, and with minimal downtime makes well intervention a dominant segment in the coiled tubing unit market.

In the Coiled Tubing Unit Market, Completion services are driving the fastest growth in the coiled tubing unit market due to their crucial role in well completion, stimulation, and intervention operations. Coiled tubing units are integral for activities such as hydraulic fracturing, acidizing, well cleaning, and perforation, which are essential for optimizing oil and gas production. With increasing exploration and production activities, particularly in shale plays, the demand for efficient, cost-effective completion services using coiled tubing units is expanding rapidly, propelling market growth.

• Well Intervention
• Completion Services
• Drilling Services
• Workover Services

Author's Detail

Vinayak Bali

Senior Research Analyst at Cognitive Market Research

LinkedIn

Profile

Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights.

Author's Conclusion