Global Coiled Tubing Services Market 2025 – 2034

As per the Coiled Tubing Services Market analysis conducted by the CMI team, the coiled tubing services market is expected to record a CAGR of 6.34% from 2025 to 2034. In 2025, the market size was USD 9.33 Billion. By 2034, the valuation is anticipated to reach USD 16.30 Billion.

Overview

Coiled tubing operation in the oil & gas operation implies a method deployed for well intervention that is devoid of traditional drill pipes. It makes use of a continuous coil of piping, generally crafted from composite materials or steel, wrapped around a big spool and ultimately placed into the wellbore. The technique facilitates multiple tasks to be executed efficiently inside the wellbore.

Coil tubing is also used at the time of workover operations and well completion. The coiled tubing technology is used on a frequent note for deploying materials and tools through manufacturing casing or tubing and exploration of applications such as tight gas, shales, and tight oil.

Baker Hughes is among the key players of the energy vertical that makes provisions for advanced services and technology. The company is known for offering oilfield equipment and solutions, software & analytics, turbomachinery & process solutions, measurement, and testing & control technologies. It also provides coiled tubing services and systems in order to help the clients make wellbore interventions safer, more efficient, more predictable, and more effective.

Key Trends & Drivers

• Rise in Demand for Well Intervention Operations

Higher spending on operational and upstream activities at the global level has facilitated the oil companies handsomely investing in well intervention operations. Increasing frequency of exploration and production activities along with growth in unconventional resources are the factors basically driving the coiled tubing services market.

Well interventions are done basically for maintaining or increasing production, extending the durability of wells, and resolving the significant issues pertaining to the wells, which aids in improving the well productivity on the whole. Moreover, the oil & gas upstream sector is enhancing operational activities of wells. All of these are drivers to the coiled tubing services market.

• Rise in Investments in E&P Activities coupled with Growing Initiatives regarding Exploration of Hydrocarbons

The growing demand for oil does provide lucrative opportunities for the operators to invest on a higher note in the drilling operations. Economic development is also adding to the growth of the oil & gas vertical. The U.S. is basically emphasizing the oil sector for turning out to be the main supplier of oil & gas at the global level.

Coiled tubing is being used in numerous well intervention activities as well as drilling operations and delivers an affordable production method for producing a large quantity of oil and gas. As such, coiled tubing is one of the essential services regarding the production of hydrocarbons, which is driving the coiled tubing services market on the whole.

What’s trending in the Coiled Tubing Services Market?

The rise in the requirement for well maintenance in the aging oil fields is the ongoing trend with respect to the coiled tubing services market. The data released by the International Energy Agency (IEA) states that over 70% of oil output worldwide comes from the matured fields, many of which need frequent interventions for sustaining output.

In the U.S. and Saudi Arabia (where numerous big fields are more than 40 years old), coiled tubing is used on an extensive note for cleanouts, gas lifting, and acid stimulation. Such applications aid in sustaining production at a comparatively lower cost, thereby extending support to oil production goals at the national level without any major new field development.

Key Threats

• Fluctuating Prices of Crude Oil and Raw Materials

The coiled tubing services market could be restrained by volatilities in the prices of crude oil as they depend on variability regarding supply & demand, changes in policy, and the like. Growing awareness regarding the protection of the environment on the part of developing and developed economies is affecting the process of crude oil. The costs of maintenance involved in the delivery of coiled tubing services are pretty high. As such, volatility in the maintenance prices could restrain the market.

Opportunities

Development of the oil shale resources has been gaining attention since the last 10 years. This basically includes high prices of oil, emerging recovery technologies, a rise in demand for liquid hydrocarbons at the global level, and the downfall of traditional U.S. oil production. Of late, numerous initiatives have been taken by government and private entities for encouraging development of the oil shale industry at the domestic level. Coiled tubing operations are necessary to improve shale oil’s extraction, which is expected to catalyze the coiled tubing services market during the forecast period.

Category Wise Insights

By Service

• Well Intervention

Well intervention helps in expanding the coiled tubing services market by facilitating operations such as fluid pumping, re-perforation, stimulation, and sand control. Coiled tubing helps in improving performance of wells, thereby extending their life-span, especially in depleted or mature reservoirs.

Coiled tubing lets interventions such as removal of scale, acidizing, and fracturing, which, in turn, could restore/improve production from the existing wells, particularly in the aging oilfields. Coiled tubing interventions, as compared to conventional methods, are generally more cost-effective, especially for routine stimulation and maintenance, which is driving the adoption in offshore as well as onshore operations.

• Drilling

Drilling does create a demand for several coiled tubing services during as well as post-drilling processes. The application areas pertaining to drilling include sidetracking, cleanouts, and milling, and the ones regarding post-drilling operations include well stimulation, production enhancement, and intervention.

The growing emphasis on various unconventional sources and enhanced oil recovery (EOR) techniques drives the requirement for coiled tubing services in drilling as well as activities related to it.

By Application

• Onshore

Onshore coiled tubing performs several operations, such as stimulation, clean-outs, and logging, with a reduction in rig time and a raised safety quotient, thereby rendering it safe for the operators, especially in the regions witnessing extensive onshore exploration and production of shale gas.

Coiled tubing, as compared to workover rigs, offers a frugal solution for several well maintenance and manufacturing improvement activities, thereby rendering it attractive for various mature fields wherein interventions are needed frequently.

• Offshore

Offshore coiled tubing aids in the expansion of the coiled tubing services market by facilitating efficient drilling operations and well intervention in offshore environments that are challenging. Its ability and flexibility regarding navigation of complex well paths does make coiled tubing ideal for cleanouts, re-entry drilling, and stimulation in various mature offshore fields, thereby cutting down on downtime and extending the well life. This is especially important as the operators seek maximization of production from the offshore assets that exist.

How is Increase in Demand for Oil Underpinned?

Rise in investment by OPEC and the U.S. in production and exploration activities for addressing the growing demand for oil & gas is anticipated to pave the way for a lucrative market for the energy & power vertical. The quickest-growing source of oil in the U.S. is petrochemicals. This fact translates into the increasing exploration of novel energy sources for affordable domestic energy feedstock.

Furthermore, coiled tubing techniques do have numerous advantages over traditional drilling as well as workover operations. Speedy mobilization and rig-up (a smaller environmental footprint), along with a reduction in time taken to handle pipe while running in and out of the hole, are expected to accelerate the coiled tubing services market during the forecast period.

Report Scope

Regional Perspective

The coiled tubing services market is classified into North America, Europe, Asia Pacific, and LAMEA.

• North America

North America’s coiled tubing services market is witnessing growth, driven by a rise in investments in the exploration and development of shale oil and gas and demand for various well intervention operations. Maturing oil fields and the requirement of enhanced recovery and well maintenance are accelerating the demand for coiled tubing services, which are necessary for several intervention activities. The rise in production of oil and gas, both – offshore and onshore, is contributing to the robust growth of the coiled tubing services market, as such operations need effective and efficient well intervention techniques.

• Asia Pacific

The growing demand for energy in the Asia Pacific is expected to extend support to its growth. This could be attributed to speedy urbanization coupled with industrialization. With higher need for energy in the region along with the necessity of tapping into more demanding and intricate gas and oil reservoirs, using coiled tubing technology is expected to rise, thereby propelling the growth in the Asia Pacific.

• Europe

Majority of oil and gas wells in Europe are aging, which, in turn, necessitates regular intervention and maintenance for sustaining the production levels. As the oil fields mature, the requirement for well intervention services such as re-perforation, stimulation, and sand control increases, thereby boosting demand for coiled tubing services. Moreover, the increase in energy consumption all over Europe has resulted in an exponential rise in production and exploration activities, which does fuel the need for appropriate well intervention techniques such as coiled tubing services for improving oil & gas recovery rates.

• LAMEA

Latin America is led by Mexico and Brazil, which are frequently using coiled tubing services for drilling operations and well intervention. The Middle East & Africa is led by the UAE, Saudi Arabia, and various other nations enabling oil & gas activities. Presence of extensive resources of hydrocarbons in the region with continuous initiatives regarding the improvement of oil and gas extraction is driving the need for coiled tubing services herein.

Key Developments

The coiled tubing services market is witnessing a notable organic and inorganic expansion. Some of the key developments include –

• In May 2025, Halliburton did deploy its biggest-ever coiled tubing intervention system at its New Iberia Training Facility in Louisiana. The advanced system is inclusive of a coiled tubing injector called the Halliburton V135HP, i.e. a reel capable of holding 36,000 feet of 2-3/8-inch coiled tubing, and a tension lift frame with an impressive capacity of 750 tons.

• In April 2025, Allemia introduced an on-site tubing solution designed especially for hydrogen projects in Canada. The machine is capable of straightening and cutting thick-walled coiled tubing at construction sites on a direct basis, thereby doing away with the need for off-site processing. This innovation does streamline installing hydrogen refueling stations by delivering the tubing cuts to the exact specifications on demand, thereby reducing waste, potential weak points, and labor in systems resulting from welds or fittings.

Leading Players

The coiled tubing services market is highly competitive, with a large number of service providers globally. Some of the key players in the market include:

• Halliburton
• Baker Hughes
• Weatherford
• SLB
• Calfrac Well Services Ltd.
• Trican
• C&J Well Services
• Jereh Energy Services Corporation
• TAQA
• Tacrom
• Helix Energy
• AnTech Ltd.
• Exalo Drilling S.A.
• Petrospec
• Tenaris
• Others

These firms apply numerous strategies to enter the market, including innovations, mergers and acquisitions, and collaboration. The coiled tubing services market is shaped by the presence of diversified players that compete based on product innovation, vertical integration, and cost efficiency.

The Coiled Tubing Services Market is segmented as follows:

By Service

• Well Intervention
• Drilling

By Application

• Onshore
• Offshore

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America