Europe Coiled Tubing Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Europe Coiled Tubing (CT) Market Companies and it is segmented by Application (Drilling, Well Completion, and Well Intervention), Location of Deployment (Onshore and Offshore), and Geography (United Kingdom, Norway, Turkey, Rest of Europe). The market size and forecasts for Europe coiled tubing market are provided in terms of revenue (USD) for all the above segments.

Europe Coiled Tubing Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Europe Coiled Tubing Market Size

Europe Coiled Tubing Market Summary
Study Period 2021 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2021 - 2022
CAGR 3.00 %
Market Concentration Medium

Major Players

Europe Coiled Tubing Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Europe Coiled Tubing Market Analysis

Europe's coiled tubing market is expected to grow at a CAGR of over 3% during the forecast period.

The market was negatively impacted by COVID-19 in 2020. Presently the market has now reached pre-pandemic levels.

  • Over the medium term, an increasing number of mature fields and maintenance of the existing wells are expected to drive the market's growth.
  • On the other hand, the high volatility of crude oil prices and high maintenance costs are expected to hamper the growth of Europe's coiled tubing market during the forecast period.
  • Nevertheless, the increasing deepwater exploration and production in the North Sea are likely to create lucrative growth opportunities for the Europe coiled tubing market in the forecast period.
  • United Kingdom to witness signifivant growth and is also likely to witness the prominent CAGR during the forecast period. This growth is attributed to the increasing investments, coupled with several upcoming projects.

Europe Coiled Tubing Industry Overview

The Europe Coiled Tubing market is moderately consolidated in nature. Some of the major players in the market (in no particular order) include Royal IHC, GOES GmbH, Stimline AS, Tala Offshore AS, and Stewart & Stevenson.

Europe Coiled Tubing Market Leaders

  1. Royal IHC

  2. Stimline AS

  3. Tala Offshore AS

  4. Stewart & Stevenson

  5. GOES GmbH

  6. *Disclaimer: Major Players sorted in no particular order
Europe Coiled Tubing Market Concentration
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Europe Coiled Tubing Market News

  • In December 2022, Well-integrity specialist company HydraWell introduced its novice technology known as HydraCT, an advanced perforation, wash, and cement (PWC) system specifically designed for coil tubing applications with the potential to cut CO2 emissions by 80% and reduce costs by up to 60%. The utilization of this technology will bring a significant industry shift for the future of plug and abandonment (P&A) activities.
  • In August 2022, Logan Industries International Corp successfully delivered a space-saving coiled tubing reeler suite for OneSubsea. This is the first unit Logan has provided a removable drum, which means the unit footprint can remain static on the vessel. In contrast, the drums can be taken to a shore base for unspooling and response-spooling15,000-psi working pressure, 10,000 ft of 2-inch CT was provided on the drum, with live swivel and isolation valves on the unit.

Europe Coiled Tubing Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Market Size and Demand Forecast in USD billion, till 2027
  • 4.3 Recent Trends and Developments
  • 4.4 Government Policies and Regulations
  • 4.5 Market Dynamics
    • 4.5.1 Drivers
    • 4.5.2 Restraints
  • 4.6 Supply Chain Analysis
  • 4.7 Porter's Five Forces Analysis
    • 4.7.1 Bargaining Power of Suppliers
    • 4.7.2 Bargaining Power of Consumers
    • 4.7.3 Threat of New Entrants
    • 4.7.4 Threat of Substitutes Products and Services
    • 4.7.5 Intensity of Competitive Rivalry

5. MARKET SEGEMENTATION

  • 5.1 Application
    • 5.1.1 Drilling
    • 5.1.2 Well Intervention
    • 5.1.3 Completion
  • 5.2 Location Of Deployment
    • 5.2.1 Onshore
    • 5.2.2 Offshore
  • 5.3 Geography
    • 5.3.1 United Kingdom
    • 5.3.2 Norway
    • 5.3.3 Turkey
    • 5.3.4 Rest of the Europe

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers, Acquisitions, Collaboration and Joint Ventures
  • 6.2 Strategies Adopted by Key Players
  • 6.3 Key Companies Profile
    • 6.3.1 Royal IHC
    • 6.3.2 GOES GmbH
    • 6.3.3 Stimline AS
    • 6.3.4 Tala Offshore AS
    • 6.3.5 Stewart & Stevenson
    • 6.3.6 AnTech Ltd
    • 6.3.7 Tenaris

7. MARKET OPPORTUNITIES and FUTURE TRENDS

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Europe Coiled Tubing Industry Segmentation

Coiled tubing (CT) is a long metal pipe spooled over a large reel and is primarily used to perform workover & repair activities across well sites. There are no joints & cuts in the coiled tube, making it more effective for good boreholes with a depth of over 15,000 feet. In several regions, it is often used to carry out operations similar to wire lining. The Europe coiled tubing market is segmented by application, location of the development, and geography. By application, the market is segmented into drilling, completion, and well intervention. By application, the market is segmented into onshore and offshore. The report also covers the market size and forecasts for the European coiled tubing services market across major countries. For each segment, the market sizing and forecasts have been done based on revenue (USD billion).

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Europe Coiled Tubing Market Research FAQs

What is the current Europe Coiled Tubing Market size?

The Europe Coiled Tubing Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)

Who are the key players in Europe Coiled Tubing Market?

Royal IHC , Stimline AS, Tala Offshore AS, Stewart & Stevenson and GOES GmbH are the major companies operating in the Europe Coiled Tubing Market.

What years does this Europe Coiled Tubing Market cover?

The report covers the Europe Coiled Tubing Market historical market size for years: 2021, 2022 and 2023. The report also forecasts the Europe Coiled Tubing Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Coiled Tubing in Europe Industry Report

Statistics for the 2024 Coiled Tubing in Europe market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Coiled Tubing in Europe analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.