Coiled Tubing Market Size, Share, Trends, Industry Analysis Report: By Service, Operation, Application (Offshore and Onshore), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)

Description

List of Tables

The global coiled tubing market size is expected to reach USD 4,709.87 million by 2034, according to a new study by Polaris Market Research. The report "Coiled Tubing Market Size, Share, Trends, Industry Analysis Report: By Service, Operation, Application (Offshore and Onshore), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Forecast, 2025-2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.

Coiled tubing is a flexible and resilient metal pipe used in the oil & gas industry. The tubing is usually 1 to 3.25 inches in diameter and is supplied spooled on a large reel. Common applications of coiled tubing are drilling, logging, well intervention, and well completion.

The rising offshore oil and gas production activities and increased emphasis on enhanced oil recovery (EOR) are driving the coiled tubing market growth. The increase in global energy demand, shift toward horizontal well drilling techniques, and growing use of natural gas as a fuel are also propelling the adoption of coiled tubing. The market demand is further propelled by the shift toward the development of unconventional oil fields.

The development of extended reach wells is expected to boost the coiled tubing market expansion in the coming years. Technological advancements in exploration techniques and rising investments in research and development are likely to create lucrative market opportunities during the forecast period.

Key Highlights of Coiled Tubing Market Report

Based on operation, the logging segment accounted for a revenue share of 23.1% in 2024. The rigidity of coiled tubing and its ability to be pushed well from the surface has resulted in its increased usage in well logging operations.

By application, the onshore segment held a larger coiled tubing market revenue share of 68% in 2024, owing to increasing production activities, rising demand for exploration using lightweight onshore units, and the cost-effectiveness and feasibility of onshore wells as compared to offshore wells.

North America led the coiled tubing market share with a revenue share of 30.1% in 2024. This is primarily due to the increase in drilling and exploration activities, growing energy demand, and rising prominence of the shale gas industry in the region.

The Asia Pacific coiled tubing market is anticipated to register a CAGR of 3.7% from 2025 to 2034. The rising emphasis on the development of new oil fields by countries such as India, China, and Vietnam to meet the increased demand for oil and gas drives the adoption of coiled tubing in the region.

Halliburton Co.; Weatherford International Ltd.; Baker Hughes; Trican Well Service Ltd; Cudd Energy Services; Schlumberger Ltd.; Calfrac Well Services Ltd.; C&J Energy Services, Inc.; Nabors Industries Ltd.; and Archer Limited are a few of the key players in the market.

Polaris Market Research has segmented the coiled tubing market research report on the basis of service, operation, application, and region:

By Service Outlook (Revenue - USD Million, 2020-2034)

Well Intervention & Production
Well Cleaning
Well Completion
Others
Drilling
Others

By Operation Outlook (Revenue - USD Million, 2020-2034)

Perforation
Circulation
Pumping
Logging
Others

By Application Outlook (Revenue - USD Million, 2020-2034)

Offshore
Onshore

By Regional Outlook (Revenue - USD Million, 2020-2034)

North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Netherlands
Russia
Rest of Europe
Asia Pacific
China
Japan
India
Malaysia
South Korea
Indonesia
Australia
Rest of Asia Pacific
Middle East & Africa
Saudi Arabia
UAE
Israel
South Africa
Rest of Middle East & Africa
Latin America
Mexico
Brazil
Argentina
Rest of Latin America

Product Code: PM1510

1. Introduction

1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
1.2. Stakeholders

2. Executive Summary

2.1. Market Highlights

3. Research Methodology

3.1. Overview
- 3.1.1. Data Mining
3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources

4. Global Coiled Tubing Market Insights

4.1. Coiled Tubing Market - Market Snapshot
4.2. Coiled Tubing Market Dynamics
- 4.2.1. Drivers and Opportunities
  - 4.2.1.1. Rise in Offshore Oil and Gas Activities
  - 4.2.1.2. Increased Focus on Enhanced Oil Recovery (EOR)
- 4.2.2. Restraints and Challenges
  - 4.2.2.1. Fluctuating Oil and Gas Prices
4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry Among Existing Firms (High)
4.4. PESTEL Analysis
4.5. Coiled Tubing Market Trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis

5. Global Coiled Tubing Market, by Service

5.1. Key Findings
5.2. Introduction
- 5.2.1. Global Coiled Tubing Market, by Service, 2020-2034 (USD Million)
5.3. Well Intervention & Production
- 5.3.1. Global Coiled Tubing Market, by Well Intervention & Production, by Region, 2020-2034 (USD Million)
- 5.3.2. Well Cleaning
  - 5.3.2.1. Global Coiled Tubing Market, by Well Cleaning, by Region, 2020-2034 (USD Million)
- 5.3.3. Well Completion
  - 5.3.3.1. Global Coiled Tubing Market, by Well Completion, by Region, 2020-2034 (USD Million)
- 5.3.4. Others
  - 5.3.4.1. Global Coiled Tubing Market, by Others, by Region, 2020-2034 (USD Million)
5.4. Drilling
- 5.4.1. Global Coiled Tubing Market, by Drilling, by Region, 2020-2034 (USD Million)
5.5. Others
- 5.5.1. Global Coiled Tubing Market, by Others, by Region, 2020-2034 (USD Million)

6. Global Coiled Tubing Market, by Operation

6.1. Key Findings
6.2. Introduction
- 6.2.1. Global Coiled Tubing Market, by Operation, 2020-2034 (USD Million)
6.3. Perforation
- 6.3.1. Global Coiled Tubing Market, by Perforation, by Region, 2020-2034 (USD Million)
6.4. Circulation
- 6.4.1. Global Coiled Tubing Market, by Circulation, by Region, 2020-2034 (USD Million)
6.5. Pumping
- 6.5.1. Global Coiled Tubing Market, by Pumping, by Region, 2020-2034 (USD Million)
6.6. Logging
- 6.6.1. Global Coiled Tubing Market, by Logging, by Region, 2020-2034 (USD Million)
6.7. Others
- 6.7.1. Global Coiled Tubing Market, by Others, by Region, 2020-2034 (USD Million)

7. Global Coiled Tubing Market, by Application

7.1. Key Findings
7.2. Introduction
- 7.2.1. Global Coiled Tubing Market, by Application, 2020-2034 (USD Million)
7.3. Offshore
- 7.3.1. Global Coiled Tubing Market, by Offshore, by Region, 2020-2034 (USD Million)
7.4. Onshore
- 7.4.1. Global Coiled Tubing Market, by Onshore, by Region, 2020-2034 (USD Million)

8. Global Coiled Tubing Market, by Geography

8.1. Key Findings
8.2. Introduction
- 8.2.1. Coiled Tubing Market Assessment, by Geography, 2020-2034 (USD Million)
8.3. Coiled Tubing Market - North America
- 8.3.1. North America: Coiled Tubing Market, by Service, 2020-2034 (USD Million)
- 8.3.2. North America: Coiled Tubing Market, by Operation, 2020-2034 (USD Million)
- 8.3.3. North America: Coiled Tubing Market, by Application, 2020-2034 (USD Million)
- 8.3.4. Coiled Tubing Market - US
  - 8.3.4.1. US: Coiled Tubing Market, by Service, 2020-2034 (USD Million)
  - 8.3.4.2. US: Coiled Tubing Market, by Operation, 2020-2034 (USD Million)
  - 8.3.4.3. US: Coiled Tubing Market, by Application, 2020-2034 (USD Million)
- 8.3.5. Coiled Tubing Market - Canada
  - 8.3.5.1. Canada: Coiled Tubing Market, by Service, 2020-2034 (USD Million)
  - 8.3.5.2. Canada: Coiled Tubing Market, by Operation, 2020-2034 (USD Million)
  - 8.3.5.3. Canada: Coiled Tubing Market, by Application, 2020-2034 (USD Million)
8.4. Coiled Tubing Market - Europe
- 8.4.1. Europe: Coiled Tubing Market, by Service, 2020-2034 (USD Million)
- 8.4.2. Europe: Coiled Tubing Market, by Operation, 2020-2034 (USD Million)
- 8.4.3. Europe: Coiled Tubing Market, by Application, 2020-2034 (USD Million)
- 8.4.4. Coiled Tubing Market - UK
  - 8.4.4.1. UK: Coiled Tubing Market, by Service, 2020-2034 (USD Million)
  - 8.4.4.2. UK: Coiled Tubing Market, by Operation, 2020-2034 (USD Million)
  - 8.4.4.3. UK: Coiled Tubing Market, by Application, 2020-2034 (USD Million)
- 8.4.5. Coiled Tubing Market - France
  - 8.4.5.1. France: Coiled Tubing Market, by Service, 2020-2034 (USD Million)
  - 8.4.5.2. France: Coiled Tubing Market, by Operation, 2020-2034 (USD Million)
  - 8.4.5.3. France: Coiled Tubing Market, by Application, 2020-2034 (USD Million)
- 8.4.6. Coiled Tubing Market - Germany
  - 8.4.6.1. Germany: Coiled Tubing Market, by Service, 2020-2034 (USD Million)
  - 8.4.6.2. Germany: Coiled Tubing Market, by Operation, 2020-2034 (USD Million)
  - 8.4.6.3. Germany: Coiled Tubing Market, by Application, 2020-2034 (USD Million)
- 8.4.7. Coiled Tubing Market - Italy
  - 8.4.7.1. Italy: Coiled Tubing Market, by Service, 2020-2034 (USD Million)
  - 8.4.7.2. Italy: Coiled Tubing Market, by Operation, 2020-2034 (USD Million)
  - 8.4.7.3. Italy: Coiled Tubing Market, by Application, 2020-2034 (USD Million)
- 8.4.8. Coiled Tubing Market - Spain
  - 8.4.8.1. Spain: Coiled Tubing Market, by Service, 2020-2034 (USD Million)
  - 8.4.8.2. Spain: Coiled Tubing Market, by Operation, 2020-2034 (USD Million)
  - 8.4.8.3. Spain: Coiled Tubing Market, by Application, 2020-2034 (USD Million)
- 8.4.9. Coiled Tubing Market - Netherlands
  - 8.4.9.1. Netherlands: Coiled Tubing Market, by Service, 2020-2034 (USD Million)
  - 8.4.9.2. Netherlands: Coiled Tubing Market, by Operation, 2020-2034 (USD Million)
  - 8.4.9.3. Netherlands: Coiled Tubing Market, by Application, 2020-2034 (USD Million)
- 8.4.10. Coiled Tubing Market - Russia
  - 8.4.10.1. Russia: Coiled Tubing Market, by Service, 2020-2034 (USD Million)
  - 8.4.10.2. Russia: Coiled Tubing Market, by Operation, 2020-2034 (USD Million)
  - 8.4.10.3. Russia: Coiled Tubing Market, by Application, 2020-2034 (USD Million)
- 8.4.11. Coiled Tubing Market - Rest of Europe
  - 8.4.11.1. Rest of Europe: Coiled Tubing Market, by Service, 2020-2034 (USD Million)
  - 8.4.11.2. Rest of Europe: Coiled Tubing Market, by Operation, 2020-2034 (USD Million)
  - 8.4.11.3. Rest of Europe: Coiled Tubing Market, by Application, 2020-2034 (USD Million)
8.5. Coiled Tubing Market - Asia Pacific
- 8.5.1. Asia Pacific: Coiled Tubing Market, by Service, 2020-2034 (USD Million)
- 8.5.2. Asia Pacific: Coiled Tubing Market, by Operation, 2020-2034 (USD Million)
- 8.5.3. Asia Pacific: Coiled Tubing Market, by Application, 2020-2034 (USD Million)
- 8.5.4. Coiled Tubing Market - China
  - 8.5.4.1. China: Coiled Tubing Market, by Service, 2020-2034 (USD Million)
  - 8.5.4.2. China: Coiled Tubing Market, by Operation, 2020-2034 (USD Million)
  - 8.5.4.3. China: Coiled Tubing Market, by Application, 2020-2034 (USD Million)
- 8.5.5. Coiled Tubing Market - India
  - 8.5.5.1. India: Coiled Tubing Market, by Service, 2020-2034 (USD Million)
  - 8.5.5.2. India: Coiled Tubing Market, by Operation, 2020-2034 (USD Million)
  - 8.5.5.3. India: Coiled Tubing Market, by Application, 2020-2034 (USD Million)
- 8.5.6. Coiled Tubing Market - Malaysia
  - 8.5.6.1. Malaysia: Coiled Tubing Market, by Service, 2020-2034 (USD Million)
  - 8.5.6.2. Malaysia: Coiled Tubing Market, by Operation, 2020-2034 (USD Million)
  - 8.5.6.3. Malaysia: Coiled Tubing Market, by Application, 2020-2034 (USD Million)
- 8.5.7. Coiled Tubing Market - Japan
  - 8.5.7.1. Japan: Coiled Tubing Market, by Service, 2020-2034 (USD Million)
  - 8.5.7.2. Japan: Coiled Tubing Market, by Operation, 2020-2034 (USD Million)
  - 8.5.7.3. Japan: Coiled Tubing Market, by Application, 2020-2034 (USD Million)
- 8.5.8. Coiled Tubing Market - Indonesia
  - 8.5.8.1. Indonesia: Coiled Tubing Market, by Service, 2020-2034 (USD Million)
  - 8.5.8.2. Indonesia: Coiled Tubing Market, by Operation, 2020-2034 (USD Million)
  - 8.5.8.3. Indonesia: Coiled Tubing Market, by Application, 2020-2034 (USD Million)
- 8.5.9. Coiled Tubing Market - South Korea
  - 8.5.9.1. South Korea: Coiled Tubing Market, by Service, 2020-2034 (USD Million)
  - 8.5.9.2. South Korea: Coiled Tubing Market, by Operation, 2020-2034 (USD Million)
  - 8.5.9.3. South Korea: Coiled Tubing Market, by Application, 2020-2034 (USD Million)
- 8.5.10. Coiled Tubing Market - Australia
  - 8.5.10.1. Australia: Coiled Tubing Market, by Service, 2020-2034 (USD Million)
  - 8.5.10.2. Australia: Coiled Tubing Market, by Operation, 2020-2034 (USD Million)
  - 8.5.10.3. Australia: Coiled Tubing Market, by Application, 2020-2034 (USD Million)
- 8.5.11. Coiled Tubing Market - Rest of Asia Pacific
  - 8.5.11.1. Rest of Asia Pacific: Coiled Tubing Market, by Service, 2020-2034 (USD Million)
  - 8.5.11.2. Rest of Asia Pacific: Coiled Tubing Market, by Operation, 2020-2034 (USD Million)
  - 8.5.11.3. Rest of Asia Pacific: Coiled Tubing Market, by Application, 2020-2034 (USD Million)
8.6. Coiled Tubing Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Coiled Tubing Market, by Service, 2020-2034 (USD Million)
- 8.6.2. Middle East & Africa: Coiled Tubing Market, by Operation, 2020-2034 (USD Million)
- 8.6.3. Middle East & Africa: Coiled Tubing Market, by Application, 2020-2034 (USD Million)
- 8.6.4. Coiled Tubing Market - Saudi Arabia
  - 8.6.4.1. Saudi Arabia: Coiled Tubing Market, by Service, 2020-2034 (USD Million)
  - 8.6.4.2. Saudi Arabia: Coiled Tubing Market, by Operation, 2020-2034 (USD Million)
  - 8.6.4.3. Saudi Arabia: Coiled Tubing Market, by Application, 2020-2034 (USD Million)
- 8.6.5. Coiled Tubing Market - UAE
  - 8.6.5.1. UAE: Coiled Tubing Market, by Service, 2020-2034 (USD Million)
  - 8.6.5.2. UAE: Coiled Tubing Market, by Operation, 2020-2034 (USD Million)
  - 8.6.5.3. UAE: Coiled Tubing Market, by Application, 2020-2034 (USD Million)
- 8.6.6. Coiled Tubing Market - Israel
  - 8.6.6.1. Israel: Coiled Tubing Market, by Service, 2020-2034 (USD Million)
  - 8.6.6.2. Israel: Coiled Tubing Market, by Operation, 2020-2034 (USD Million)
  - 8.6.6.3. Israel: Coiled Tubing Market, by Application, 2020-2034 (USD Million)
- 8.6.7. Coiled Tubing Market - South Africa
  - 8.6.7.1. South Africa: Coiled Tubing Market, by Service, 2020-2034 (USD Million)
  - 8.6.7.2. South Africa: Coiled Tubing Market, by Operation, 2020-2034 (USD Million)
  - 8.6.7.3. South Africa: Coiled Tubing Market, by Application, 2020-2034 (USD Million)
- 8.6.8. Coiled Tubing Market - Rest of Middle East & Africa
  - 8.6.8.1. Rest of Middle East & Africa: Coiled Tubing Market, by Service, 2020-2034 (USD Million)
  - 8.6.8.2. Rest of Middle East & Africa: Coiled Tubing Market, by Operation, 2020-2034 (USD Million)
  - 8.6.8.3. Rest of Middle East & Africa: Coiled Tubing Market, by Application, 2020-2034 (USD Million)
8.7. Coiled Tubing Market - Latin America
- 8.7.1. Latin America: Coiled Tubing Market, by Service, 2020-2034 (USD Million)
- 8.7.2. Latin America: Coiled Tubing Market, by Operation, 2020-2034 (USD Million)
- 8.7.3. Latin America: Coiled Tubing Market, by Application, 2020-2034 (USD Million)
- 8.7.4. Coiled Tubing Market - Mexico
  - 8.7.4.1. Mexico: Coiled Tubing Market, by Service, 2020-2034 (USD Million)
  - 8.7.4.2. Mexico: Coiled Tubing Market, by Operation, 2020-2034 (USD Million)
  - 8.7.4.3. Mexico: Coiled Tubing Market, by Application, 2020-2034 (USD Million)
- 8.7.5. Coiled Tubing Market - Brazil
  - 8.7.5.1. Brazil: Coiled Tubing Market, by Service, 2020-2034 (USD Million)
  - 8.7.5.2. Brazil: Coiled Tubing Market, by Operation, 2020-2034 (USD Million)
  - 8.7.5.3. Brazil: Coiled Tubing Market, by Application, 2020-2034 (USD Million)
- 8.7.6. Coiled Tubing Market - Argentina
  - 8.7.6.1. Argentina: Coiled Tubing Market, by Service, 2020-2034 (USD Million)
  - 8.7.6.2. Argentina: Coiled Tubing Market, by Operation, 2020-2034 (USD Million)
  - 8.7.6.3. Argentina: Coiled Tubing Market, by Application, 2020-2034 (USD Million)
- 8.7.7. Coiled Tubing Market - Rest of Latin America
  - 8.7.7.1. Rest of Latin America: Coiled Tubing Market, by Service, 2020-2034 (USD Million)
  - 8.7.7.2. Rest of Latin America: Coiled Tubing Market, by Operation, 2020-2034 (USD Million)
  - 8.7.7.3. Rest of Latin America: Coiled Tubing Market, by Application, 2020-2034 (USD Million)

9. Competitive Landscape

9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
9.2. Partnerships/Collaborations/Agreements/Exhibitions

10. Company Profiles

10.1. Halliburton Co.
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
10.2. Weatherford International Ltd.
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
10.3. Baker Hughes
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
10.4. Trican Well Service Ltd
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
10.5. Cudd Energy Services
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
10.6. Schlumberger Ltd.
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
10.7. Calfrac Well Services Ltd.
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
10.8. C&J Energy Services, Inc.
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
10.9. Nabors Industries Ltd.
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
10.10. Archer Limited
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Development