Global Coiled Tubing Market Size, Share, Forecasts To 2033

The Global Coiled Tubing Market Size is expected to reach USD 4.4 billion by 2030, at a CAGR of 4.7% during the forecast period 2022 to 2030. Upstream companies' increased efforts to improve production from mature fields are driving the coiled tubing industry. The product's ability to lower overall costs in oil and gas exploration is expected to drive market growth during the forecast period. Coiled tubing has several advantages over conventional operations, including faster mobilization, less time spent on pipeline handling while running in and out of the hole, higher work performance, balanced well control, and increased safety. These advantages are expected to propel market growth during the forecast period.