Global Coiled Tubing Services Market Research Report
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North America Coiled Tubing Services The North America Coiled Tubing market (CT market) is estimated to grow at a CAGR of 3.8% during the forecast period. To improve the recovery of oil from matured fields, companies are focusing on technological advancements in inventing tools and techniques required to access residual reserves on conventional acreages. The companies are currently focused on significantly increasing recovery and extend the life of mature fields, way beyond the natural production level. These are some of the key factors fueling the growth of the CT market. However, increase in crude oil prices is hampering production as companies are cutting costs, hindering the growth of this market. Furthermore, there are environmental concerns associated with coastal wetlands and water bodies, fisheries, underwater plumes, coral ecosystems, toxicity, and bioaccumulation along with other problems such as ocean acidification and wet land destruction. To avoid accidents, the U.S. government has imposed new regulations and policies on exploration activities in the Gulf of Mexico, a challenge faced by market players. |
Apr 2015 |
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Europe Coiled Tubing Services The European coiled tubing services market was estimated at $0.5 billion in 2013 and is projected to reach $0.8 billion by 2018, at a CAGR of 9.3%. It is segmented on the basis of services and geographies. Major players in the market are Schlumberger, Halliburton, Baker Hughes, and Weatherfoard |
Mar 2015 |
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Asia-Pacific Coiled Tubing Services The Asia-Pacific coiled tubing services market was estimated at $0.3 billion in 2013 and is projected to reach $0.5 billion by 2018, at a CAGR of 8.5%. It is segmented on the basis of services and geographies. It constitutes 11.40% of the global CT services market in 2013 and is estimated to reach 12.19% by 2018. |
Apr 2015 |
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Middle East Coiled Tubing Services The Middle Eastern coiled tubing services market was estimated at $0.3 billion in 2013 and is estimated to reach $0.5 billion by 2018 at a CAGR of 12%. It constituted 10.1% of the global CT services market in 2013 and is estimated to be 12.6% by 2018. The major players in the market are Schlumberger, Halliburton, Baker Hughes, and Weatherfoard. |
Upcoming |
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South America Coiled Tubing Services The South America coiled tubing services market was estimated at $0.3 billion in 2013 and is projected to reach $0.4 billion by 2018, at a CAGR of 7.6%. It constituted 10.1% of the global CT services market in 2013 and is estimated to reach 10.4% by 2018. It is segmented on the basis of services and geographies. |
Mar 2015 |
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Africa Coiled Tubing Services The Africa coiled tubing market is estimated to grow at a CAGR of 6.4% during the forecast period. To enhance the recovery of oil from matured fields, oil & gas companies are focusing on developing technologically advanced tools and techniques to access residual reserves on conventional acreages. These are some of the key factors that are fueling the growth of the coiled tubing market. However, the rising prices of crude oil are hampering production of the same and compelling companies to cut costs by reducing production. This hampers the growth of the coiled tubing market. Furthermore, environmental concerns associated with coastal wetlands and water bodies, fisheries, underwater plumes, coral ecosystems, toxicity, and bioaccumulation, along with other problems such as ocean acidification and wet land destruction also adversely affect the coiled tubing market. |
Apr 2015 |
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