Coiled Tubing Market, By Product (Coiled-Tubing Services, Tubing & Manufacturing, and Surface Equipment), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)
Coiled Tubing Market is estimated to be valued at USD 3.84 Bn in 2025 and is expected to reach USD 5.37 Bn by 2032, growing at a compound annual growth rate (CAGR) of 4.9% from 2025 to 2032.
Report Coverage
Report Details
Base Year:
2024
Market Size in 2025:
USD 3.84 Bn
Historical Data for:
2020 To 2024
Forecast Period:
2025 To 2032
Forecast Period 2025 to 2032 CAGR:
4.90%
2032 Value Projection:
USD 5.37 Bn
The global coiled tubing market represents a critical segment within the oil and gas industry, encompassing specialized equipment and services essential for well intervention, completion, and drilling operations. The coiled tubing technology involves continuous steel or composite tubing wound on large reels, enabling efficient deployment into wellbores for various downhole operations including acidizing, fracturing, nitrogen lifting, logging, and drilling applications.
The market encompasses various components including coiled tubing strings, bottom hole assemblies, surface equipment, control systems, and associated services. With increasing global energy demand and the continuous need for enhanced oil recovery techniques, the coiled tubing market has gained significant traction across conventional and unconventional oil and gas reserves. The technology's versatility extends beyond traditional applications to include geothermal energy development, carbon capture utilization and storage projects, and well abandonment operations.
Market Dynamics
The global coiled tubing market is primarily driven by increasing drilling activities in unconventional oil and gas reserves, particularly shale formations, where coiled tubing technology proves essential for hydraulic fracturing, well completion, and production optimization operations. Growing demand for enhanced oil recovery techniques and well intervention services to maximize output from aging oil fields significantly propels the market expansion, as operators seek cost-effective solutions to extend well life and improve production efficiency. Rising offshore drilling activities and deepwater exploration projects create substantial demand for advanced coiled tubing systems capable of operating under extreme conditions and high pressures. Technological advancements including development of high-strength materials, improved control systems, and real-time monitoring capabilities enhance operational efficiency and safety, attracting increased adoption across diverse applications.
However, market growth faces restraints from volatile crude oil prices that directly impact exploration and production budgets, leading to deferred or canceled projects and reduced capital expenditure on well intervention services. Environmental regulations and sustainability concerns regarding hydraulic fracturing operations pose challenges, potentially limiting coiled tubing applications in certain regions and requiring compliance with stringent environmental standards. High initial investment costs for advanced coiled tubing equipment and specialized personnel training requirements create barriers for smaller operators and service companies.
Nevertheless, significant opportunities emerge from expanding geothermal energy development projects, carbon capture and storage initiatives, and well abandonment programs that require specialized coiled tubing solutions. Growing focus on digitalization and automation in oil and gas operations presents opportunities for developing smart coiled tubing systems with enhanced monitoring, control, and predictive maintenance capabilities, potentially opening new market segments and applications.
Key Features of the Study
This report provides in-depth analysis of the global coiled tubing market, and provides market size (USD Billion) and compound annual growth rate (CAGR%) for the forecast period (2025-2032), considering 2024 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global coiled tubing market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include Tenaris, Forum Energy Technologies, National Oilwell Varco, Baker Hughes, Schlumberger, Halliburton, Weatherford, Sandvik, Trident Steel Corporation, HandyTube, Gautam Tube Corporation, John Lawrie Group, Stewart & Stevenson, Cudd Pressure Control, and Global Tubing
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global coiled tubing market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global coiled tubing market
Market Segmentation
Product Insights (Revenue, USD Bn, 2020 - 2032)
Coiled-Tubing Services
Tubing & Manufacturing
Surface Equipment
Regional Insights (Revenue, USD Bn, 2020 - 2032)
North America
U.S.
Canada
Latin America
Brazil
Argentina
Mexico
Rest of Latin America
Europe
Germany
U.K.
Spain
France
Italy
Russia
Rest of Europe
Asia Pacific
China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific
Middle East
GCC Countries
Israel
Rest of Middle East
Africa
South Africa
North Africa
Central Africa
Key Players Insights
Tenaris
Forum Energy Technologies
National Oilwell Varco
Baker Hughes
Schlumberger
Halliburton
Weatherford
Sandvik
Trident Steel Corporation
HandyTube
Gautam Tube Corporation
John Lawrie Group
Stewart & Stevenson
Cudd Pressure Control
Global Tubing
Table of Contents
1. Research Objectives and Assumptions
Research Objectives
Assumptions
Abbreviations
2. Market Purview
Report Description
Market Definition and Scope
Executive Summary
Global Coiled Tubing Market, By Product
Global Coiled Tubing Market, By Region
3. Market Dynamics, Regulations, and Trends Analysis
Market Dynamics
Impact Analysis
Key Highlights
Regulatory Scenario
Product Launches/Approvals
PEST Analysis
PORTER's Analysis
Market Opportunities
Regulatory Scenario
Key Developments
Industry Trends
4. Global Coiled Tubing Market, By Product, 2020-2032, (USD Bn)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Coiled-Tubing Services
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Tubing & Manufacturing
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
Surface Equipment
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032, (USD Bn)
5. Global Coiled Tubing Market, By Region, 2020 - 2032, Value (USD Bn)