According to the business intelligence report titled ‘Global Coiled Tubing Market (Value, Volume) - Analysis By Services (Well Intervention, Drilling, Completion), Application (Onshore, Offshore), By Region, By Country (2021 Edition): Market Insights and Forecast with Impact of COVID-19 (2021-2026)’,available with Market Study Report, global coiled tubing market was evaluated at USD 2985.67 million in 2020 and is speculated to expand substantially between 2021-2026.
 

Surging demand for oil & natural gas, increasing ultra-deep water & deep water projects, and instable price regulations of oil are key factors driving global coiled tubing market expansion. Moreover, rising efforts to raise natural gas production and growing exploration & production activities will aid industry growth.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/4026445/
 

Speaking of COVID-19 impact, the ongoing pandemic has affected automotive, oil & gas, manufacturing, and power generation sectors adversely. The resulting lockdowns have disrupted the functioning of oil & gas industry supply chain by affecting exploration & production activities, which in turn could negatively affect the overall market remuneration.
 

Regardless, expert analysts cite that rising expenditure towards operational and upstream activities by integrated oil companies and NOCs will facilitate global coiled tubing market augmentation.
 

Based on services, global coiled tubing industry is divided into drilling, well intervention, and completion. Meanwhile, onshore and offshore are the major segments of analyzed in the research report as per application scope.
 

North America, Asia Pacific, Europe, and Latin America, Middle East & Africa are the key regional contributors in global coiled tubing market sphere. Market share held and growth rate estimates for each region and country are given as well.
 

Key players shaping worldwide coiled tubing market trends are Schlumberger Limited, Nabors Industries Ltd., Halliburton Co., C&J Energy Services Inc., Baker Hughes Company, Trican Well Service Ltd., Archer Limited, Weatherford international plc, Superior Energy Services Inc., and Calfrac Well Services Ltd.
 

These companies have made strategic moves such as partnerships, launching new products, mergers & acquisitions, investments in research & development, etc. to enlarge profit margins and strengthen their foothold in this business sphere.