This report estimates the coiled tubing services market in terms of value in $million. This has been broken down into component regions and further split into countries.
A Coil Tubing unit usually comprises a set of equipment to perform standard continuous-length tubing operations in the oil and gas fields. Coiled tubes are generally made of low-alloy carbon-steel and range from 0.75 inches to 4 inches in diameter with single reel tubing lengths reaching 30,000 feet with yield strengths ranging from 55,000 PSI to 120,000 PSI.
Coiled tubing is needed during the completion phase as well during the oil recovery phase. With the maturing fields, there is the decline in the production of oil which draw the attention of the exploration & production companies towards the innovation of the currently existing products. This leads to increase in investments in the energy sector, especially in shale gas development projects,leading to the increase in market for Coiled Tubing.
The size of the overall market is determined by forecasting techniques based on coiled tubing fleet count, and E&P spending in different geographical regions which are validated through primary sources. The market is growing at a CAGR of approximately 7-8 % from 2014 to 2019.
Complete report is available @ http://www.reportsnreports.com/reports/266636-coiled-tubing-market-by-services-well-intervention-well-completion-well-cleaning-drilling-active-fleet-by-geography-global-trends-forecasts-to-2018.html .