Coiled Tubing Services Market – Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented By Application (Drilling, Completion, and Well Intervention), By Location of Deployment (Onshore and Offshore), By Service Intervention (Well Completion & Well Cleaning) By Region, Competition 2021-2031F

Forecast Period	2027-2031
Market Size (2025)	USD 4.69 Billion
CAGR (2026-2031)	7.26%
Fastest Growing Segment	Onshore
Largest Market	North America
Market Size (2031)	USD 7.14 Billion

Market Overview

The Global Coiled Tubing Services Market will grow from USD 4.69 Billion in 2025 to USD 7.14 Billion by 2031 at a 7.26% CAGR. Coiled tubing services involve the deployment of a continuous, flexible metal pipe from a spool to perform well intervention, drilling, and completion applications without the requirement of a conventional jointed-pipe rig. The primary drivers supporting market growth include the escalating necessity to restore production in aging reservoirs and the operational cost advantages of rigless conveyance in complex horizontal wellbores. These fundamental factors are distinct from transient industry trends, as they address the enduring structural requirement for efficient, small-footprint wellbore maintenance and stimulation.

A significant challenge restricting market expansion is the technical limitation regarding reach and material fatigue in ultra-long lateral wells, where frictional forces can cause helical buckling and lockup. This operational environment remains demanding and activity levels are high; according to the International Association of Drilling Contractors, in 2024, participating contractors reported a total of 418.4 million manhours worked globally, underscoring the immense scale of operations that service providers must support despite such technical constraints.

Key Market Drivers

The expansion of unconventional shale gas and tight oil exploration fundamentally underpins the modern coiled tubing sector. Operators utilize coiled tubing units extensively for plug and perf operations, milling, and cleanouts in extended-reach horizontal wells where precision is critical. This high volume of hydraulic fracturing and completion activity directly correlates with service frequency, as these units are essential for preparing the wellbore for production. According to the U.S. Energy Information Administration, November 2024, in the 'Short-Term Energy Outlook', U.S. crude oil production was forecast to average 13.2 million barrels per day in 2024, driven largely by shale basins that rely heavily on these intervention methods. This record output sustains a continuous requirement for wellbore maintenance to mitigate rapid decline rates typical in tight formations.

Simultaneously, the resurgence of offshore and deepwater exploration projects has revitalized the market for riserless well intervention. As operators seek to extend the life of subsea infrastructure, coiled tubing provides a cost-effective alternative to heavy workover rigs for stimulation and scale removal. According to SLB, October 2024, in the 'Third Quarter 2024 Earnings Release', revenue from the Production Systems division increased 31 percent year-on-year, reflecting the intensified capital allocation toward offshore assets which demand these specialized services. This shift is supported by broader industry activity; according to Baker Hughes, in 2024, the international rig count reached an average of 950 units in October, creating a favorable environment for service providers to deploy marine-capable coiled tubing units across global markets.

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Key Market Challenges

The primary challenge hampering the growth of the Global Coiled Tubing Services Market is the technical limitation regarding reach and material fatigue in ultra-long lateral wells. As operators increasingly drill extended-reach horizontal wellbores to maximize reservoir contact, the coiled tubing string faces excessive frictional forces that lead to helical buckling and eventual lockup. This mechanical constraint prevents the tubing from reaching the target depth required for critical intervention tasks, such as stimulation or cleanouts, effectively rendering the technology unsuitable for the most complex assets. Consequently, service providers are often forced to cede these high-value projects to alternative methods like hydraulic workover units or jointed-pipe rigs, which significantly restricts the addressable market share for coiled tubing in the expanding deep-well segment.

This inability to service extended laterals creates a structural ceiling on revenue potential even during periods of heightened industry activity. For instance, according to the Canadian Association of Energy Contractors (CAOEC) in its 2025 forecast released in November 2024, the industry projected the drilling of 6,604 wells in Western Canada alone, representing a 7.3% increase over the previous year. While such data indicates a robust demand for well construction and subsequent intervention, the physical limitations of current coiled tubing technology prevent service companies from fully capitalizing on this upward trend, as they cannot effectively deploy in the longest and most technically demanding of these new wellbores.

Key Market Trends

The Deployment of Large-Diameter Strings for Extended-Reach Laterals is emerging as a critical response to the mechanical limitations encountered in modern horizontal wellbores. Service providers are aggressively investing in high-capacity units and larger diameter tubing to overcome frictional lockup, enabling effective stimulation and cleanouts in ultra-long laterals that were previously inaccessible with conventional string sizes. This technological shift allows operators to maintain weight-on-bit at extended depths, directly expanding the addressable market for interventions in complex unconventional completions. According to Step Energy Services, November 2025, in the 'Third Quarter 2025 Results', the company reported that its coiled tubing fleet operated 1,260 days across 21 units, maintaining high utilization driven by the specific demand for equipment designed to service the deepest wells in the basin.

Simultaneously, the Shift Toward Automated and Autonomous Coiled Tubing Units is transforming operational workflows by integrating digital control systems that enhance safety and execution consistency. This trend involves the adoption of closed-loop mechanisms where the injector and fluid pumps automatically adjust parameters to optimize rate of penetration and prevent pipe fatigue, which is particularly vital for maintaining well control during complex operations. These advancements are replacing manual oversight with algorithmic precision, significantly reducing personnel exposure in hazardous zones. According to Baker Hughes, October 2025, in the press release 'Baker Hughes Wins Aramco Coiled Tubing Drilling Contract', the company secured a multi-year agreement to increase its fleet in Saudi Arabia from four to ten units, explicitly aimed at advancing digital and automated drilling practices to efficiently access hard-to-reach hydrocarbons.

Segmental Insights

The Onshore segment is currently positioned as the fastest-growing category in the Global Coiled Tubing Services Market, driven primarily by the intensifying focus on unconventional resource exploration and the revitalization of mature oilfields. According to recent industry analysis, operators are increasingly prioritizing onshore coiled tubing solutions due to their superior cost-efficiency and rapid mobilization capabilities compared to traditional workover rigs. This expansion is further fueled by the rising demand for well intervention services, such as hydraulic fracturing support and acidizing, which are essential for sustaining production levels in aging land-based reservoirs and shale formations.

Regional Insights

North America holds a leading position in the global coiled tubing services market, primarily driven by extensive shale gas exploration and production activities in the United States. The region is characterized by a high density of mature wells that necessitate frequent intervention and workover operations to maintain operational rates. Furthermore, the established hydraulic fracturing sector relies heavily on coiled tubing for well cleanouts and stimulation. Industry data regarding unconventional energy output, often referenced by the U.S. Energy Information Administration, supports the continued expansion of these service requirements across the North American energy sector.

Recent Developments

• In August 2025, Step Energy Services Ltd. achieved a major operational milestone by completing its 100th well using its proprietary Coil+ technology in the United States. This achievement marked a significant breakthrough for the company’s deep-capacity coiled tubing operations, demonstrating a 99% success rate in reaching total depth in extended-reach laterals. The Coil+ system, which utilizes specialized agitation tools to reduce friction and extend lateral reach, allowed the company to service some of the deepest and most complex wells in North American basins. This development underscores the increasing technical sophistication required in the modern coiled tubing services market to address long-lateral wellbore challenges.
• In May 2025, Archer Limited signed a major five-year contract with Repsol Resources UK to provide a broad range of drilling and well services for the operator’s North Sea assets. The agreement encompasses platform drilling, facilities engineering, and integrated wireline and coiled tubing services to support late-life operations and plug and abandonment activities. This collaboration, which includes a specific scope for approximately 130 wells, highlights the growing demand for specialized coiled tubing applications in decommissioning projects. The contract solidifies the company's position in the UK Continental Shelf by combining efficient well intervention capabilities with extensive engineering support.
• In June 2024, Baker Hughes announced it had secured a significant multi-year contract from Petrobras to provide integrated well services across offshore fields in Brazil. Under this agreement, the company is set to deliver a comprehensive suite of solutions, including coiled tubing, tubular running, wireline, and cementing services, specifically focused on workover and plug and abandonment (P&A) projects. The contract, scheduled to commence in the first half of 2025, reinforces the critical role of integrated coiled tubing interventions in maintaining production efficiency and managing the decommissioning of mature offshore assets in the Latin American region.
• In March 2024, Tenaris S.A. unveiled its latest technological advancements in the coiled tubing sector during the SPE/ICoTA Well Intervention Conference and Exhibition held in Texas. The company introduced its proprietary BlueCoil technology, a new generation of coiled tubing engineered to offer superior fatigue resistance and greater strength compared to conventional steel grades. This product launch addressed the industry's need for extended string lifespan and enhanced reliability in demanding downhole environments. The innovation allows operators to execute complex well interventions more efficiently by reducing the frequency of tubing retirement due to fatigue, thereby optimizing operational costs in the coiled tubing services market.

Key Market Players

• Schlumberger Limited
• Halliburton Company
• Baker Huges
• Weatherford International PLC
• Calfrac Well Services Ltd
• National Oilwell Varco
• China Oilfield Services Limited
• C&J Energy Services
• Key Energy Services
• National Energy Services Company

By Application	By Location of Deployment	By Service Intervention	By Region
Drilling Completion and Well Intervention	Onshore and Offshore	Well Completion & Well Cleaning	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

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

• Coiled Tubing Services Market, By Application:

• Drilling
• Completion
• and Well Intervention

• Coiled Tubing Services Market, By Location of Deployment:

• Onshore and Offshore

• Coiled Tubing Services Market, By Service Intervention:

• Well Completion & Well Cleaning

• Coiled Tubing Services 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