Coiled Tubing Market Size, Share, Trends, Industry Analysis Report: By Service, Operation, Application (Offshore and Onshore), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Forecast, 2025–2034

The global coiled tubing market size is expected to reach USD 4,709.87 million by 2034, according to a new study by Polaris Market Research. The report “Coiled Tubing Market Size, Share, Trends, Industry Analysis Report: By Service, Operation, Application (Offshore and Onshore), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Forecast, 2025–2034” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Coiled tubing is a flexible and resilient metal pipe used in the oil & gas industry. The tubing is usually 1 to 3.25 inches in diameter and is supplied spooled on a large reel. Common applications of coiled tubing are drilling, logging, well intervention, and well completion.

The rising offshore oil and gas production activities and increased emphasis on enhanced oil recovery (EOR) are driving the coiled tubing market growth. The increase in global energy demand, shift toward horizontal well drilling techniques, and growing use of natural gas as a fuel are also propelling the adoption of coiled tubing. The market demand is further propelled by the shift toward the development of unconventional oil fields.

The development of extended reach wells is expected to boost the coiled tubing market expansion in the coming years. Technological advancements in exploration techniques and rising investments in research and development are likely to create lucrative market opportunities during the forecast period.

Key Highlights of Coiled Tubing Market Report

Based on operation, the logging segment accounted for a revenue share of 23.1% in 2024. The rigidity of coiled tubing and its ability to be pushed well from the surface has resulted in its increased usage in well logging operations.

By application, the onshore segment held a larger coiled tubing market revenue share of 68% in 2024, owing to increasing production activities, rising demand for exploration using lightweight onshore units, and the cost-effectiveness and feasibility of onshore wells as compared to offshore wells.

North America led the coiled tubing market share with a revenue share of 30.1% in 2024. This is primarily due to the increase in drilling and exploration activities, growing energy demand, and rising prominence of the shale gas industry in the region.

The Asia Pacific coiled tubing market is anticipated to register a CAGR of 3.7% from 2025 to 2034. The rising emphasis on the development of new oil fields by countries such as India, China, and Vietnam to meet the increased demand for oil and gas drives the adoption of coiled tubing in the region.

Halliburton Co.; Weatherford International Ltd.; Baker Hughes; Trican Well Service Ltd; Cudd Energy Services; Schlumberger Ltd.; Calfrac Well Services Ltd.; C&J Energy Services, Inc.; Nabors Industries Ltd.; and Archer Limited are a few of the key players in the market.

Polaris Market Research has segmented the coiled tubing market research report on the basis of service, operation, application, and region:

By Service Outlook (Revenue – USD Million, 2020–2034)

Well Intervention & Production

• Well Cleaning
• Well Completion
• Others

Drilling

Others

By Operation Outlook (Revenue – USD Million, 2020–2034)

Perforation

Circulation

Pumping

Logging

Others

By Application Outlook (Revenue – USD Million, 2020–2034)

Offshore

Onshore

By Regional Outlook (Revenue – USD Million, 2020–2034)

North America

• US
• Canada

Europe

• Germany
• France
• UK
• Italy
• Spain
• Netherlands
• Russia
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Malaysia
• South Korea
• Indonesia
• Australia
• Rest of Asia Pacific

Middle East & Africa

• Saudi Arabia
• UAE
• Israel
• South Africa
• Rest of Middle East & Africa

Latin America

• Mexico
• Brazil
• Argentina
• Rest of Latin America