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.
The growth of the coiled tubing market is driven by global rise in demand for energy, strict environmental regulations, introduction of new technologies, improved services, and favorable government regulations. However, tough competition from existing players, availability of alternate cost-effective solutions, and difficulty in locating oil & gas reserves which are economically viable are key factors that may hinder the growth of this market. Countries such as Columbia and Argentina are the emerging markets for coiled tubing. There are potential growth opportunities in the South American coiled tubing market due to an increase in exploration activities in region such as Columbia, Argentina, Venezuela and Brazil.
The report segments the market on the basis of services, applications, and countries. On the basis of services, the market is segmented into well intervention, drilling and others. On the basis of application, the market is segmented into onshore and offshore. Based on country, the market is segmented into Brazil and Venezuela.
Key market players operating in this region are Baker Hughes Inc., Halliburton Co., Weatherford International Plc, Schlumberger Ltd., Calfrac Well Services, Trican Well Service, and Aker Solutions ASA.
KEY BENEFITS FOR STAKEHOLDERS:
SOUTH AMERICA COILED TUBING MARKET KEY SEGMENTS: