According to the recent research report titled ‘Europe Coiled Tubing Market Size By Service, 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 Market Study Report, Europe coiled tubing market is anticipated to grow substantially over 2021-2027.
 

Rising investments towards developing novel offshore projects, increasing oil production activities, and surging demand for low cost technologies in oil well drilling are primarily driving Europe coiled tubing market growth.
 

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Further, Increasing penetration of mature wells and rising inclination towards new exploration are adding significant traction to the market development.
 

For the uninitiated, coiled tubing, also known as flexible tubing, is a long metal pipe which is surrounded or rolled over a wide reel and carried to the well site when some kind of workover operation or well repair is to be done in the oil and gas industry.
 

This is usually made of low-carbon alloy steel with a diameter varying from 5 to 12 feet. CT or coiled tubing may also be straightened and recoiled before being implanted into the wellbore. It is favored over the standard straight tubing because traditional tubing are required to be screwed together. Furthermore, coiled tubing does not necessitate the use of a workover rig.
 

Based on services, Europe coiled tubing market share from well completion services segment will showcase an appreciable growth over the coming years, owing to snowballing oil exploration and production activities, along with surging demand for affordable technologies in oil well drilling.
 

The market is also studied from the perspective of application landscape, which is split into offshore and onshore.
 

Considering the regional terrain, UK is expected to contribute significantly to the Europe coiled tubing industry value over 2021-2027, attributable to shifting focus towards new exploration wells.
 

Meanwhile, Ukraine industry is expected to see remunerative growth as it holds Europe's second-largest gas reserves. Moreover, mounting demand for CT units in the country will increase as more investment is made into developing new offshore projects.
 

Denmark coiled tubing market is projected to witness huge gains due to increasing penetration of mature wells across the country.
 

Kazakhstan has a huge natural resource potential, which will offer a favorable business environment for coiled tubing providers that offer their technologies for the extraction of untapped reserves.
 

Top companies impacting Europe coiled tubing market trends are Surgutneftegas PJSC, Well Services Group, Packer Service LLC, Baker Hughes Company, Calfrac Well Services Ltd., Tenaris S.A., Hunting plc, Stimline AS, GOES GmbH, National Oilwell Varco Inc., Royal IHC, Schlumberger Limited, Weatherford International, and Halliburton Company.