Coiled Tubing Market Size, Share, Growth Analysis, By Service (Well Intervention & Production, Drilling), By Operation (Circulation, Logging), By Application, By Region -Industry Forecast 2025-2032

North America accounted for the largest share in both terms of volume and value and thereby led the coiled tubing market. The increase of the shale gas industry, in fact, is now the prime reason that motivates the market in the coiled tubing area. As shale oil and gas production continues to increase to enhance drilling efficiency, lower operating costs, and enhance overall productivity, there has been a growing demand for such advanced technology as coiled tubing. Moreover, in North America, there is a tremendous increase in the use of coiled tubing based on technical developments geared towards efficiency in well operations. All these factors are predicted to sustain the region's leadership over the forecast period.

Asia-Pacific region's revenue over the projection period is going to grow at 3.7% compounded annual growth rate. The major driving cause of this increase is an ever-increasing demand for gas and oil, mostly coming from developing nations, such as China, Vietnam, and India. To meet increasing local and international demands, these countries are focusing more on increasing their oil fields and increasing their capability to generate energy. For instance, the market potential for coiled tubing in Rajasthan, India, was further boosted in February 2022 when Cairn Oil & Gas and Vedanta Group announced the discovery of a new oil well in the region.