According to the research report titled ‘Europe Coiled Tubing Market Size By Service (Well Intervention, Well Cleaning, Well Completion {Fishing, Perforation, Logging}, Drilling {Managed Pressure Drilling, Directional Drilling}), By Application (Onshore, Offshore {Shallow, Deep, Ultra-Deep}), Industry Analysis Report, Country Outlook, Application Potential, Price Trend, Covid-19 Impact Analysis, Competitive Market Share & Forecast, 2021 – 2027’, available with MarketStudyReport, Europe coiled tubing market is anticipated to garner lucrative returns by the year 2027.
 

Growing number of mature wells, increasing demand for low-cost technology in oil well drilling, inclination towards new exploration, rising production operations, and surging investments in the development of new offshore projects are the major growth inducing factors for Europe coiled tubing market.

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For the unversed, coiled tubing, also known as flexible tubing, is a long metal pipe that is encircles around a very large reel that is normally carried to the well location. CT or coiled tubing can be straightened and recoiled before being implanted into the wellbore. It is chosen over standard straight tubing because the latter requires screwing together. Furthermore, coiled tubing does not require a workover rig.

Based on services, the well completion services segment is anticipated to witness huge demand through the forecast duration, owing to rising demand for cost-effective technologies in oil well drilling as well as increasing oil exploration and production activities.

Speaking of geographical landscape, UK coiled tubing market is poised to develop a significant pace over the forecast period, owing to growing emphasis on exploration & production of new wells.

Meanwhile, Ukraine industry is expected to see remunerative growth throughout the course of the analysis, owing to rising investments into developing new offshore projects which is creating demand for CT units.

Additionally, Denmark market is projected to garner lucrative returns by 2027, due to increasing presence of mature wells across the country.

The key players in Europe coiled tubing marketplace are Surgutneftegas, Well Services Group, Baker Hughes Company, Schlumberger Limited, Calfrac Well Services Ltd., Tenaris S.A., Hunting plc, Packer Service LLC, Stimline AS, GOES GmbH (German Oilfield Equipment & Services), NOV Inc., Royal IHC, Weatherford International plc, and Halliburton Company.