Coiled Tubing Market Size and Outlook 2031

Report Description

Forecast Period	2027-2031
Market Size (2025)	USD 5.61 Billion
CAGR (2026-2031)	6.12%
Fastest Growing Segment	Onshore
Largest Market	North America
Market Size (2031)	USD 8.01 Billion

Market Overview

The Global Coiled Tubing Market will grow from USD 5.61 Billion in 2025 to USD 8.01 Billion by 2031 at a 6.12% CAGR. Coiled tubing is defined as a continuous length of flexible metal pipe wound onto a large reel, utilized primarily for well intervention, drilling, and completion operations without the requirement of a conventional workover rig. The primary drivers supporting market growth include the increasing necessity for cost-effective production enhancement in maturing oil fields and the rising demand for hydraulic fracturing support in unconventional shale reserves. These factors compel operators to adopt this technology for its ability to perform pumping, circulation, and logging operations while the well remains under pressure, thereby significantly minimizing operational downtime and ensuring continuous flow.

However, a significant challenge impeding market expansion is the volatility of crude oil prices, which directly influences the capital expenditure budgets of exploration and production companies and can lead to the postponement of non-essential intervention projects. Despite these financial fluctuations, investment in the sector remains robust. According to the International Energy Agency, in 2024, global upstream oil and gas investment is expected to increase by 7% to reach USD 570 billion. This substantial capital injection indicates sustained activity levels that are essential for the continued demand for coiled tubing services globally.

Key Market Drivers

The expansion of unconventional shale resources and horizontal drilling acts as the foremost catalyst for the coiled tubing market, compelling operators to utilize continuous tubing for essential hydraulic fracturing support and completion tasks. This extraction method necessitates precise downhole interventions, such as milling isolation plugs and cleaning out debris in extended-reach laterals, which conventional rigs cannot perform as efficiently under pressure. According to the U.S. Energy Information Administration (EIA), April 2025, in the 'Petroleum Supply Monthly', crude oil production in the Permian region increased by 370,000 barrels per day in 2024 to average 6.3 million barrels per day. Such substantial growth in unconventional output directly correlates to higher utilization rates for large-diameter coiled tubing units required to service these complex, high-pressure well environments.

Simultaneously, the rising demand for well intervention services in mature oilfields serves as a critical driver, as operators prioritize cost-efficient techniques to maximize recovery from aging assets without incurring the high costs of workover rigs. Coiled tubing provides a versatile solution for stimulation, sand control, and velocity string installation, effectively extending the productive life of declining reservoirs. According to Halliburton, January 2025, in the 'Fourth Quarter 2024 Results', revenue for the Completion and Production segment reached USD 3.2 billion, reflecting robust spending on these enhancement activities. This focus on maximizing reservoir uptime is supported by stable upstream fundamentals; according to Baker Hughes, in 2025, the international active rig count stood at 1,059 units, signaling sustained global drilling and intervention activity that underpins the continuous demand for coiled tubing services.

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Key Market Challenges

The volatility of crude oil prices stands as a significant barrier impeding the stable expansion of the Global Coiled Tubing Market. When market prices fluctuate unpredictably, exploration and production companies frequently respond by restricting their capital expenditure budgets to mitigate financial risk. This fiscal conservatism often results in the postponement or cancellation of well intervention and production enhancement projects, which are the primary revenue streams for coiled tubing service providers. Consequently, service companies face erratic utilization rates, making it difficult to maintain consistent operational growth or invest in fleet expansion.

This market instability creates a hesitant environment where operators delay necessary maintenance in maturing fields. According to the Organization of the Petroleum Exporting Countries (OPEC), in October 2024, the global oil demand growth forecast for 2024 was revised downward to 1.93 million barrels per day due to changing consumption patterns. Such downward revisions in demand projections reinforce the uncertainty that compels operators to pause spending. This direct correlation between wavering global demand expectations and reduced upstream activity limits the volume of available contracts, thereby hampering the overall growth trajectory of the coiled tubing sector.

Key Market Trends

The integration of real-time downhole telemetry and automated control systems is fundamentally reshaping coiled tubing operations, driven by the industry's need for higher precision and reduced personnel exposure in hazardous environments. Service providers are increasingly leveraging AI-driven digital platforms to optimize downhole performance, moving beyond manual intervention to predictive, data-centric execution. This digital evolution allows for instant adjustments during complex milling and pumping tasks, significantly improving operational safety and efficiency while minimizing human error. According to SLB, October 2025, in the 'Third-Quarter 2025 Results', the company reported an 11% sequential increase in digital revenue, a growth attributed directly to the accelerating adoption of AI and automation technologies across its well intervention portfolio.

Concurrently, the market is witnessing a distinct shift toward the utilization of advanced high-strength alloys to overcome the fatigue limitations of conventional carbon steel tubing. As operators push the boundaries of lateral lengths in unconventional plays, standard tubing faces accelerated degradation from high-cycle fatigue and extreme downhole pressures, necessitating materials with superior metallurgical properties. This trend is fostering the development of proprietary heat-treated strings that offer extended operational lifecycles and greater reliability in demanding environments. According to Tenaris, June 2025, in the article 'Tenaris delivers record-breaking coiled tubing string for US shale market', the manufacturer successfully delivered a proprietary heat-treated BlueCoil string weighing 192,000 pounds, setting a new benchmark for material strength and fatigue resistance in the sector.

Segmental Insights

The Onshore segment represents the fastest-growing area of the Global Coiled Tubing Market, fueled by intensified activities in unconventional shale plays and mature oilfields. Trusted market analysis highlights that this expansion is underpinned by the superior cost efficiency of land-based operations compared to offshore projects. Operators are increasingly utilizing coiled tubing for critical well interventions, such as hydraulic fracturing support and cleanouts, to optimize production in aging reservoirs. This preference is reinforced by the technology’s ability to navigate complex horizontal wellbores effectively, making it an essential component for sustaining onshore energy output.

Regional Insights

North America holds the leading share of the global coiled tubing market, driven largely by extensive shale gas and tight oil exploration in the United States. The region sees substantial demand for well intervention services in major production areas like the Permian Basin, where hydraulic fracturing necessitates reliable tubing solutions. Additionally, the U.S. Energy Information Administration reports consistent increases in domestic energy production, which directly correlates with higher utilization rates for drilling support equipment. Consequently, the established upstream sector and frequent well completion activities solidify North America as the central market hub.

Recent Developments

In August 2025, STEP Energy Services announced a major operational milestone with the successful completion of its 100th well utilizing the proprietary Coil+ technology in the United States. This achievement highlighted the rapid adoption of their ultra-reach coiled tubing intervention system, which features a specialized dual-agitator design to reduce friction and extend lateral reach in long horizontal wells. The company reported that the technology had enabled operators to execute complex completion and drill-out programs more efficiently, achieving greater depths while maintaining safety standards. This development underscored the growing market demand for advanced coiled tubing solutions capable of servicing the increasingly long laterals found in North American shale basins.
In March 2025, Baker Hughes was awarded a multi-year contract by Dubai Petroleum to provide integrated coiled tubing drilling services for the Margham Gas storage project. The agreement required the energy technology company to deploy its specialized coiled tubing drilling units along with underbalanced drilling solutions to support the operator's energy supply stability efforts. The project scope involved the utilization of advanced bottomhole assembly systems to effectively navigate subsurface environments and maximize reservoir contact during horizontal drilling operations. This strategic collaboration aimed to strengthen the gas storage infrastructure, ensuring a reliable energy transition mechanism between natural gas and solar power sources for the region.
In August 2024, Halliburton secured a significant multi-year contract from Petrobras to deliver comprehensive integrated well intervention services for offshore fields in Brazil. The scope of the agreement encompassed a wide range of solutions, including fluids, completion equipment, wireline, and specifically coiled tubing services. This collaboration was designed to support the operator's well maintenance and plugging and abandonment activities across nearly two-thirds of its offshore assets. Management at the service company emphasized that the project would leverage their integrated project management capabilities to enhance operational efficiency, extend well life, and optimize production recovery in the challenging deepwater environments of the Brazilian pre-salt and post-salt fields.
In March 2024, Tenaris highlighted its latest advancements in coiled tubing solutions during the SPE/ICoTA Well Intervention Conference and Exhibition held in Texas. The company presented its proprietary BlueCoil technology, which is engineered to provide superior fatigue resistance and increased strength for extended string life in complex operations. Experts at the event detailed how this manufacturing and metallurgical innovation supports demanding applications such as milling, drilling, and fracturing. The exhibition served as a platform for the manufacturer to demonstrate the reliability and performance capabilities of its coiled tubing portfolio to industry stakeholders and potential clients seeking optimized well intervention tools.

Key Market Players

Schlumberger Limited
Halliburton Energy Services, Inc
Weatherford International plc
Baker Hughes Company
General Electric Company
NABORS CORPORATE SERVICES, INC
C&J Energy Services Inc
Trican Well Service Ltd
Calfrac Well Services Ltd
STEP Energy Services Ltd

By Service Type	By Application	By Region
Well Intervention Drilling Others	Onshore Offshore	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Coiled Tubing Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Coiled Tubing Market, By Service Type:

Well Intervention
Drilling
Others

Coiled Tubing Market, By Application:

Onshore
Offshore

Coiled Tubing Market, By Region:

North America

United States
Canada
Mexico

Europe

France
United Kingdom
Italy
Germany
Spain

Asia Pacific

China
India
Japan
Australia
South Korea

South America

Brazil
Argentina
Colombia

Middle East & Africa

South Africa
Saudi Arabia
UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Coiled Tubing Market.

Available Customizations:

Global Coiled Tubing Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global Coiled Tubing Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Product Overview

1.1. Market Definition

1.2. Scope of the Market

1.2.1. Markets Covered

1.2.2. Years Considered for Study

1.2.3. Key Market Segmentations

2. Research Methodology

2.1. Objective of the Study

2.2. Baseline Methodology

2.3. Key Industry Partners

2.4. Major Association and Secondary Sources

2.5. Forecasting Methodology

2.6. Data Triangulation & Validation

2.7. Assumptions and Limitations

3. Executive Summary

3.1. Overview of the Market

3.2. Overview of Key Market Segmentations

3.3. Overview of Key Market Players

3.4. Overview of Key Regions/Countries

3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Coiled Tubing Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Service Type (Well Intervention, Drilling, Others)

5.2.2. By Application (Onshore, Offshore)

5.2.3. By Region

5.2.4. By Company (2025)

5.3. Market Map

6. North America Coiled Tubing Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Service Type

6.2.2. By Application

6.2.3. By Country

6.3. North America: Country Analysis

6.3.1. United States Coiled Tubing Market Outlook

6.3.1.1. Market Size & Forecast

6.3.1.1.1. By Value

6.3.1.2. Market Share & Forecast

6.3.1.2.1. By Service Type

6.3.1.2.2. By Application

6.3.2. Canada Coiled Tubing Market Outlook

6.3.2.1. Market Size & Forecast

6.3.2.1.1. By Value

6.3.2.2. Market Share & Forecast

6.3.2.2.1. By Service Type

6.3.2.2.2. By Application

6.3.3. Mexico Coiled Tubing Market Outlook

6.3.3.1. Market Size & Forecast

6.3.3.1.1. By Value

6.3.3.2. Market Share & Forecast

6.3.3.2.1. By Service Type

6.3.3.2.2. By Application

7. Europe Coiled Tubing Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Service Type

7.2.2. By Application

7.2.3. By Country

7.3. Europe: Country Analysis

7.3.1. Germany Coiled Tubing Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Service Type

7.3.1.2.2. By Application

7.3.2. France Coiled Tubing Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Service Type

7.3.2.2.2. By Application

7.3.3. United Kingdom Coiled Tubing Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Service Type

7.3.3.2.2. By Application

7.3.4. Italy Coiled Tubing Market Outlook

7.3.4.1. Market Size & Forecast

7.3.4.1.1. By Value

7.3.4.2. Market Share & Forecast

7.3.4.2.1. By Service Type

7.3.4.2.2. By Application

7.3.5. Spain Coiled Tubing Market Outlook

7.3.5.1. Market Size & Forecast

7.3.5.1.1. By Value

7.3.5.2. Market Share & Forecast

7.3.5.2.1. By Service Type

7.3.5.2.2. By Application

8. Asia Pacific Coiled Tubing Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Service Type

8.2.2. By Application

8.2.3. By Country

8.3. Asia Pacific: Country Analysis

8.3.1. China Coiled Tubing Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Service Type

8.3.1.2.2. By Application

8.3.2. India Coiled Tubing Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Service Type

8.3.2.2.2. By Application

8.3.3. Japan Coiled Tubing Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Service Type

8.3.3.2.2. By Application

8.3.4. South Korea Coiled Tubing Market Outlook

8.3.4.1. Market Size & Forecast

8.3.4.1.1. By Value

8.3.4.2. Market Share & Forecast

8.3.4.2.1. By Service Type

8.3.4.2.2. By Application

8.3.5. Australia Coiled Tubing Market Outlook

8.3.5.1. Market Size & Forecast

8.3.5.1.1. By Value

8.3.5.2. Market Share & Forecast

8.3.5.2.1. By Service Type

8.3.5.2.2. By Application

9. Middle East & Africa Coiled Tubing Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Service Type

9.2.2. By Application

9.2.3. By Country

9.3. Middle East & Africa: Country Analysis

9.3.1. Saudi Arabia Coiled Tubing Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Service Type

9.3.1.2.2. By Application

9.3.2. UAE Coiled Tubing Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Service Type

9.3.2.2.2. By Application

9.3.3. South Africa Coiled Tubing Market Outlook

9.3.3.1. Market Size & Forecast

9.3.3.1.1. By Value

9.3.3.2. Market Share & Forecast

9.3.3.2.1. By Service Type

9.3.3.2.2. By Application

10. South America Coiled Tubing Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Service Type

10.2.2. By Application

10.2.3. By Country

10.3. South America: Country Analysis

10.3.1. Brazil Coiled Tubing Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Service Type

10.3.1.2.2. By Application

10.3.2. Colombia Coiled Tubing Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Service Type

10.3.2.2.2. By Application

10.3.3. Argentina Coiled Tubing Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Service Type

10.3.3.2.2. By Application

11. Market Dynamics

11.1. Drivers

11.2. Challenges

12. Market Trends & Developments

12.1. Merger & Acquisition (If Any)

12.2. Product Launches (If Any)

12.3. Recent Developments

13. Global Coiled Tubing Market: SWOT Analysis

14. Porter's Five Forces Analysis

14.1. Competition in the Industry

14.2. Potential of New Entrants

14.3. Power of Suppliers

14.4. Power of Customers

14.5. Threat of Substitute Products

15. Competitive Landscape

15.1. Schlumberger Limited

15.1.1. Business Overview

15.1.2. Products & Services

15.1.3. Recent Developments

15.1.4. Key Personnel

15.1.5. SWOT Analysis

15.2. Halliburton Energy Services, Inc

15.3. Weatherford International plc

15.4. Baker Hughes Company

15.5. General Electric Company

15.6. NABORS CORPORATE SERVICES, INC

15.7. C&J Energy Services Inc

15.8. Trican Well Service Ltd

15.9. Calfrac Well Services Ltd

15.10. STEP Energy Services Ltd

16. Strategic Recommendations

17. About Us & Disclaimer

Report Description

Table of content

Figures and Tables

Frequently asked questions

What was the market size of the Global Coiled Tubing Market in 2025?

Which is the dominating region in the Global Coiled Tubing Market?

Which is the fastest growing segment in the Global Coiled Tubing Market?

What is the expected growth rate of the Global Coiled Tubing Market?

Coiled Tubing Market – Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented By Service Type (Well Intervention, Drilling, Others), By Application (Onshore, Offshore), By Region & Competition, 2021-2031F

Report Description

Table of content

Figures and Tables

Frequently asked questions

What was the market size of the Global Coiled Tubing Market in 2025?

Which is the dominating region in the Global Coiled Tubing Market?

Which is the fastest growing segment in the Global Coiled Tubing Market?

What is the expected growth rate of the Global Coiled Tubing Market?