Market Research Future (MRFR)

Coiled tubing (CT) is a long metal pipe that is rolled over a large reel and brought to the well site during well repair and workover activities. Rise of horizontal drilling and prevalence of CT in oil & gas fields can induce its heavy demand. The  global  coiled tubing  market  report by Market Research Future (MRFR) examines the drivers and challenges to be faced by the industry for the period of 2018 to 2023 (forecast period). The COVID-19 pandemic and its implications on the market are explored in high detail in the report. Market Scope The global coiled tubing market is expected to expand at 5.37% CAGR during the forecast period. Advantages of CT including improved safety and well control, low mobilization time, and underbalanced operations are likely to influence its adoption rate. The rise in hydraulic fracturing, well cleaning, and change in well designs can convince oil & gas producers of its utilization. The discovery of new fields and renewal of li...