COILED TUBING MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2025 - 2032)

Global Coiled Tubing Market Size and Forecast – 2025-2032

The global 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, exhibiting a compound annual growth rate (CAGR) of 4.9% from 2025 to 2032.

Key Takeaways of the Coiled Tubing Market

• The coiled-tubing services segment leads the market holding an estimated share of 54.8% in 2025.
• North America is estimated to lead the market with a share of 41.7% in 2025.
• Asia Pacific, holding an estimated share of 17.4% in 2025, and it is projected to be the fastest growing region.

Market Overview

Market trends indicate a rising adoption of automation and real-time monitoring technologies within the coiled tubing sector to improve operational efficiency and reduce downtime. Additionally, the shift towards environment-friendly and cost-effective extraction methods is encouraging the integration of coiled tubing with advanced drilling technologies. The surge in unconventional resource development and offshore exploration is also fueling demand, positioning the coiled tubing market for steady growth supported by continuous innovation and expanding application areas.

Current Events and Its Impact

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Segmental Insights

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Global Coiled Tubing Market Insights, by Product – Increasing Demand for Efficient Well Intervention Drives the Growth of the Coiled-Tubing Services Segment

The coiled-tubing services segment, holding an estimated share of 54.8% in 2025, is dominating the market. These services enable operators to perform various critical operations, such as well cleanouts, acidizing, milling, and fracturing, without the need to interrupt production, which significantly reduces downtime and enhances overall operational efficiency. As mature fields experience declining productivity, operators rely more heavily on advanced intervention techniques to maintain and improve well output. Coiled-tubing provides a versatile and flexible option capable of navigating complex well trajectories, including horizontal and deviated wells, where traditional methods may be less effective or more expensive.

Moreover, the continuous technological advancements in coiled-tubing equipment and services have expanded the range of applications and improved operational safety and reliability. Innovations such as high-strength tubing materials, real-time monitoring, and enhanced hydraulic systems allow for deeper well access and more precise interventions, making these services indispensable for maximizing reservoir recovery. Environmental and regulatory pressures also play a crucial role in encouraging the adoption of coiled-tubing services. The ability to conduct interventions with minimal surface disturbance and lower environmental impact aligns well with stringent regulatory frameworks and the industry's growing focus on sustainable practices.

For instance, in 2023, Halliburton deployed its ExpressFiber coiled-tubing intervention system in the North Sea for a major offshore operator. The project involved acid stimulation and cleanouts in mature wells experiencing reduced productivity.

Pricing Analysis of the Coiled Tubing Market

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Regional Insights

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North America Coiled Tubing Market Analysis and Trends

North America, holding an estimated share of 41.7% in 2025, dominates the global coiled tubing market, attributed to the well-established oil and gas industry coupled with advanced technological infrastructure. The region benefits from extensive shale plays, particularly in the U.S., driving the demand for coiled tubing services to enhance well intervention, drilling, and completion operations. Government policies in the region often support oil and gas exploration while emphasizing innovation and safety standards, encouraging investment in the coiled tubing technologies.

The presence of major service providers like Baker Hughes, Schlumberger, and Halliburton, which offer integrated coiled tubing services and have significant operational footprints, also strengthens the market ecosystem. A mature supply chain, combined with robust trade infrastructure, facilitates efficient deployment and maintenance of coiled tubing operations, bolstering the market leadership.

Asia Pacific Coiled Tubing Market Analysis and Trends

The Asia Pacific region, holding an estimated share of 17.4% in 2025, exhibits the fastest growth driven by increasing energy demand, expanding oil and gas exploration activities, and emerging economies investing heavily in upstream activities. Countries like China, India, and Australia are ramping up both onshore and offshore operations, necessitating advanced well intervention services such as coiled tubing. Government initiatives promoting indigenous energy production and infrastructure development contribute to favorable market conditions.

The Asia Pacific coiled tubing market is supported by a growing ecosystem of domestic and international players, including companies like Weatherford, Schlumberger, and local operators expanding their coiled tubing capabilities. Trade dynamics, including increasing imports of specialized equipment and technology collaborations, further accelerate technological adoption and the market expansion.

Global Coiled Tubing Market Outlook for Key Countries

U.S. Coiled Tubing Market Analysis and Trends

The U.S. remains a critical hub for the coiled tubing market driven by its extensive shale gas and tight oil resources. The country boasts a robust industry presence with leaders such as Baker Hughes and Halliburton pioneering advanced coiled tubing technologies and service methodologies. These companies focus on innovation to improve operational efficiency and reduce downtime, influencing market growth positively. Moreover, proactive regulations and investments in technological R&D create an enabling environment for adopting next-generation coiled tubing solutions.

Canada Coiled Tubing Market Analysis and Trends

Canada oil sands and conventional oil sectors underpin its coiled tubing market, with considerable activities in well intervention and maintenance. The government’s focus on resource development coupled with environmental regulations shapes the market dynamics. Key players like Schlumberger and Weatherford are deeply involved in offering innovative coiled tubing services tailored to the challenging Canadian terrain and harsh weather conditions. Strong infrastructure and cross-border trade with the U.S. also facilitate the growth and adoption of advanced coiled tubing technologies.

China Coiled Tubing Market Analysis and Trends

China’s expanding upstream oil and gas operations drive the country’s rapidly growing coiled tubing market. The government’s strategic emphasis on energy security and self-sufficiency propels investments in drilling and well services. Major global companies such as Schlumberger and Halliburton have established partnerships with local firms to adapt coiled tubing technologies to regional geological conditions. Furthermore, China’s growing manufacturing base supports localized equipment production, making coiled tubing services more accessible and cost-effective.

India Coiled Tubing Market Analysis and Trends

India coiled tubing market benefits from increased offshore drilling and onshore production activities aligned with the government’s push towards boosting domestic hydrocarbon output. The oil and gas sector witnesses growing participation from service companies like Weatherford and Baker Hughes, which provide advanced intervention and completion services using coiled tubing units. Government reforms aimed at attracting foreign investment and improving infrastructure enhance the market potential, enabling deployment of sophisticated coiled tubing technologies.

Saudi Arabia Coiled Tubing Market Analysis and Trends

Saudi Arabia, as a leading producer in the Middle East, continues to lead in the coiled tubing market due to its vast hydrocarbon reserves and ongoing efforts to optimize production efficiency. Saudi Aramco’s commitment to deploying state-of-the-art coiled tubing solutions fosters a conducive environment for the introduction of innovative technologies. Collaboration with international service providers such as Schlumberger and Halliburton further enhances operational capabilities. The government’s Vision 2030 initiative, aiming to diversify and modernize the energy sector, positively influences the adoption of advanced coiled tubing services.

Market Players, Key Development, and Competitive Intelligence

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Key Developments

• In June 2025, Tenaris delivered a 2 7/8" BlueCoil string for Cudd Pressure Control, marking the first time the company’s proprietary heat-treated coiled tubing is manufactured in this larger diameter. The string measured 30,250 feet in length and weighed 192,000 pounds, setting a new industry record.
• In March 2025, Baker Hughes, an energy technology company, announced a multi-year contract with Dubai Petroleum Establishment (DPE), for and on behalf of Dubai Supply Authority (DUSUP), to provide integrated coiled-tubing drilling services for the company’s Margham Gas storage project.
• In November 2024, Azure Holdings entered into a Joint Venture Agreement with Coil Tubing Technology Inc. (CTT). The deal involves CTT contributing USD 14.0 million in Coil Tubing Technology Tools to an AZRH wholly owned subsidiary, along with exclusive distribution rights.
• In June 2024, Baker Hughes, an energy technology company, announced a significant order from Petrobras for workover and plug and abandonment (P&A) services in pre-salt and post-salt fields offshore Brazil.

Top Strategies Followed by Coiled Tubing Market Players

• These industry giants invest heavily in research and development to innovate high-performance coiled tubing products that meet the evolving demands of the oil and gas sector.
  • Schlumberger has invested significantly in developing real-time downhole measurement systems for coiled tubing, such as the ACTive system. These R&D-driven innovations allow operators to monitor well conditions while performing interventions, improving efficiency and recovery.

• Mid-level players in the coiled tubing market adopt a different but complementary approach to compete effectively.
  • Forum Energy Technologies (FET) — through its Global Tubing business — focuses on offering standardized, cost-optimized CT units and consumables. Its 2025 financial disclosures highlighted stronger orders from customers seeking affordable CT equipment, enabling mid-tier operators to expand fleets without premium pricing.

• Small-scale players in the global coiled tubing market typically carve out niche segments to sustain competitiveness in a landscape dominated by larger firms.
  • HandyTube Corporation (U.S.) — a smaller tubing manufacturer — specializes in custom stainless and nickel-alloy seamless coiled tubing for niche applications such as sour-service wells, chemical injection, and corrosion-prone environments. This niche focus differentiates it from large generalist players like Tenaris or NOV.

Market Report Scope

Coiled Tubing Market Report Coverage

Market Dynamics

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Global Coiled Tubing Market Driver – Rising Well-Intervention Activity in Mature Fields & Shale Re-Entries

The increasing need for well intervention in aging oil and gas fields alongside the resurgence of shale well re-entries is significantly propelling the demand for coiled tubing services. Mature fields often experience declining production rates due to reservoir depletion or mechanical challenges, necessitating frequent interventions such as cleanouts, acidizing, and wellbore strengthening to sustain output levels. Baker Hughes secured a multi-year contract with Petrobras to deliver coiled tubing, well intervention, and Plug & Abandonment (P&A) services across mature offshore fields in Brazil.

Coiled tubing offers a versatile and cost-efficient solution for these interventions, enabling operators to carry out complex downhole tasks with minimal rig time and enhanced safety. Similarly, the shale sector has witnessed a growing trend of re-entering previously fractured wells to stimulate production or perform remedial operations.

Global Coiled Tubing Market Opportunity – Expansion into Geothermal, Carbon Capture/Injection, and Subsurface Energy-Transition Uses for CT

The global coiled tubing market is poised for significant growth through its expansion into emerging subsurface energy-transition sectors such as geothermal energy, carbon capture and injection, and other innovative subsurface applications. Traditionally dominated by oil and gas well intervention and maintenance activities, the coiled tubing market can leverage its advanced capabilities—such as continuous tubing deployment, enhanced reach, and real-time data acquisition—to address the unique challenges faced in these environmentally critical domains. In geothermal energy projects, CT technology offers efficient drilling and stimulation techniques necessary for accessing and optimizing heat reservoirs, which are often located in hard-to-reach or structurally complex locations.

Similarly, Carbon Capture, Utilization, and Storage (CCUS) initiatives demand precise wellbore interventions to inject captured CO₂ into deep geological formations safely and reliably, presenting a substantial opportunity for CT-based solutions to ensure operational integrity and well monitoring. SLB has been actively promoting the use of coiled tubing and well services for geothermal drilling and Carbon Capture/Storage (CCS) projects. Furthermore, as the global energy landscape shifts towards cleaner subsurface applications, such as hydrogen storage and utilization, CT tools can facilitate well construction, maintenance, and monitoring activities critical for these emerging uses.

Analyst Opinion (Expert Opinion)

• Emerging use of intelligent CT strings equipped with downhole sensors and fiber optics is transforming well-intervention operations. Real-time monitoring of pressure, temperature, and fatigue enables predictive maintenance and optimized performance, reducing downtime and extending tubing life.
• Coiled tubing is gaining traction in geothermal stimulation and carbon capture & storage (CCS) injection projects. Its flexibility and speed make it ideal for CO₂ injection wells, geothermal well cleanouts, and stimulation, opening new revenue streams as the industry diversifies beyond oil & gas.
• New high-pressure, high-temperature (HPHT) CT systems with larger injectors, advanced metallurgy (e.g., heat-treated BlueCoil), and heavy-duty surface equipment are enabling interventions in ultra-deepwater and sour-service wells. These advancements expand CT’s operational envelope, making it indispensable in next-generation offshore projects.

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

Sources

Primary Research Interviews

Stakeholders

• Oilfield Service Companies
• Coiled Tubing Manufacturers
• Drilling & Well Intervention Contractors
• Oil & Gas Operators
• Offshore Equipment Leasing Firms specializing in CT units and injectors
• Energy Transition Consultants (for geothermal & CCS applications of CT)

Databases

• U.S. Energy Information Administration (EIA)
• International Energy Agency (IEA)
• Oilfield Equipment & Services Global Database
• OECD Energy Statistics
• Rigzone Drilling & Intervention Database

Magazines

• Oilfield Technology
• Offshore Engineer Magazine
• World Oil
• Drilling Contractor
• JPT (Journal of Petroleum Technology)

Journals

• SPE Journal (Society of Petroleum Engineers)
• Journal of Energy Resources Technology
• Petroleum Science and Engineering Journal
• Journal of Natural Gas Science and Engineering
• Well Intervention & Production Technology Journal

Newspapers

• Upstream Online
• Offshore Energy Today
• Oil & Gas Journal
• The Economic Times (India – Energy section)
• The Houston Chronicle (Energy Beat)

Associations

• Society of Petroleum Engineers (SPE)
• International Coiled Tubing Association (ICoTA)
• American Petroleum Institute (API)
• International Association of Drilling Contractors (IADC)
• Canadian Energy Services Association (CESA)

Public Domain Sources

• U.S. Census Bureau (for manufacturing data inputs)
• EUROSTAT (industrial production & trade data)
• U.S. Energy Information Administration (EIA)
• United Nations Economic Commission for Europe (UNECE) – Energy Data
• World Bank (global energy & infrastructure spending)
• ResearchGate (technical papers on CT technology)

Proprietary Elements

• CMI Data Analytics Tool
• Proprietary CMI Existing Repository of information for last 8 years