Coiled Tubing Market is estimated to expand at a CAGR of 3.4% in terms of revenue from 2022 to 2030.
Coiled Tubing Industry Overview The global coiled tubing market size is expected to reach USD 2.41 billion by 2030, expanding at a CAGR of 3.4% during the forecast period. The increasing investments in the production of shale gas and offshore drilling are expected to augment the market growth during the forecast period. The crude oil price crossed the USD 100-per-barrel threshold in February 2022 due to the Russia-Ukraine conflict. Owing to this, the U.S. government has asked oil & gas producing companies to ramp up their production. The production of U.S. shale oil is anticipated to increase by 109,000 barrels per day. This trend is expected to positively impact the coiled tubing market growth during the forecast period. Coiled Tubing Market Segmentation Grand View Research has segmented the global coiled tubing market based on service, operation, application, and region: Based on the Service Insights, the market is segmented into Well Intervention & Pro...