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According to the new market research report "Coiled Tubing Market by Fleet (Operator, Region), Service (Well Intervention Service (Well Completions & Mechanical Operations, Well Cleaning & Pumping Operations) Drilling Service, Others), Application (Onshore, Offshore), Region - Global Forecast to 2025", published by MarketsandMarkets™, the Coiled Tubing Market size is projected to reach USD 4.0 billion by 2025 from an estimated USD 3.0 billion in 2020, at a post COVID-19 CAGR of 5.8% during the forecast period. The rising number of mature fields in Europe and the Middle East, along with rising primary energy demand from Asia Pacific are the driving factors for the coiled tubing industry, globally. Coiled tubing units are required while intervention and drilling operations during either of the phases, well drilling, completion, and production.
The well intervention segment is expected to dominate the Coiled Tubing Market, by service, during the forecast period.
At the initial stage, every crude oil or natural gas reservoir has sufficient reservoir pressure, but it declines with time. Post that, the oil well operators need to pump fluids and perform certain intervention operations, such as well stimulation, sand control, unloading well with nitrogen, gravel packing, pumping slurry, and scale removal. These are generally categorized as well cleaning & pumping operations. Similarly, for depleting reservoirs, the well requires some completions or mechanical operations such as the setting of plug or packer, fishing, perforation of producing wells, removing of scales, cutting tubular service, running a completion unit, and performing of straddle for zonal isolation. Demand for these services drives the well intervention segment for the Coiled Tubing Market.
In this report, the coiled tubing industry has been analyzed for six regions, namely, North America, South & Central America, Europe, Asia Pacific, Middle East, and Africa. According to the IEA, the US is determined to become the net exporter of energy by 2020, and to fulfill this objective, oil production is being increased across the nation. Moreover, the US is the top explorer and producer of shale oil and gas. The old oil & gas fields in the Permian Basin and Bakken Ford require intervention operations to enhance the productivity of the wells. Thus, North America dominated the coiled tubing industry in 2020.
To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Coiled Tubing Market.
Some of the key players are Schlumberger (US), Halliburton (US), NexTier Oilfield Solutions (US), Weatherford (Switzerland), and Baker Hughes (US). The leading players are adopting various strategies to increase their share in the coiled tubing industry. New product launches, and contracts & agreements have been a widely adopted strategy by the major players in the Coiled Tubing
Market.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: newsletter@marketsandmarkets.com
According to the new market research report "Switchgear Market by Insulation (Gas Insulated, Air Insulated), By Installation (Indoor, Outdoor) By End-Users (T&D Utilities, Industries, Commercial & Residential, Others), By Voltage (Low, Medium, High), and Region - Global Forecast to 2025", published by MarketsandMarkets™, the Switchgear Market size will grow to USD 88.5 billion by 2025 (forecast year) from USD 67.5 billion in 2020 (estimated year), at a post COVID-19 CAGR of 5.5% during the forecast period. Replacement of aging infrastructure in North America, along with upgradation of existing substations due to rising electricity demand in Europe and Asia Pacific are the driving factors for the Switchgear Market, globally.
The air insulated switchgear segment is expected to dominate the Switchgear Market, by insulation type, during the forecast period.
Air insulated switchgear are among the common type of medium-voltage switchgears that are used these days. They are a combination of electrical disconnector switches, circuit breakers, and earth switches that are used to control, isolate, and protect electrical equipment using air as its insulating medium. AISs are relatively cost-effective, pollution-free, simple construction, and easy to maintain than gas insulated switchgear. They are used in transmission & distribution, manufacturing and processing, infrastructure and transportation, oil & gas, and other industries.
The indoor segment is expected to lead the Switchgear Market, by installation, during the forecast period.
An indoor switchgear is generally of metal-clad type. In this type of construction, all live parts are completely enclosed in an earthed metal casing. A medium-voltage switchgear is primarily installed indoor. The application of indoor switchgears includes power generation and distribution, infrastructure, transportation, manufacturing, oil & gas, mining, and marine. . The renewable sector is also assisting the growth of indoor switchgears, with many solar and wind power plant projects deploying indoor switchgears as an integral part of their power generation and distribution network.
Asia Pacific likely to emerge as the largest Switchgear Market
The region has been segmented, by country, into China, Japan, India, Australia, and Rest of Asia Pacific. Increasing T&D network expansion and industrialization projects in emerging countries such as India and China are some of the key factors responsible for the growth of the Switchgear Market. As per the Indian Electrical and Electronics Manufacturer Association (IEEMA), the electricity generation capacity is expected to increase from 200 GW in 2010 to over 800 GW by 2032 to fulfill the increasing demand of customers. Thus, there is a need for a huge investment of approximately USD 300 billion in the next 3–4 years. Some of the key players are ABB (Switzerland), Siemens (Germany), Schneider Electric (France), GE (US), and Eaton (Ireland). The leading players are adopting various strategies to increase their share in the Switchgear Market.
To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Switchgear Market. Some of the key players are Schneider Electric (France), Siemens AG (Germany), ABB (Switzerland), General Electric (US), and Eaton (Ireland). The leading players are adopting various strategies to increase their shares in the Switchgear Market.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: newsletter@marketsandmarkets.com
According to the new market research report "Coiled Tubing Market by Fleet (Operator, Region), Service (Well Intervention Service (Well Completions & Mechanical Operations, Well Cleaning & Pumping Operations) Drilling Service, Others), Application (Onshore, Offshore), Region - Global Forecast to 2025", published by MarketsandMarkets™, the Coiled Tubing Market size is projected to reach USD 4.0 billion by 2025 from an estimated USD 3.0 billion in 2020, at a post COVID-19 CAGR of 5.8% during the forecast period. The rising number of mature fields in Europe and the Middle East, along with rising primary energy demand from Asia Pacific are the driving factors for the coiled tubing industry, globally. Coiled tubing units are required while intervention and drilling operations during either of the phases, well drilling, completion, and production.
The well intervention segment is expected to dominate the Coiled Tubing Market, by service, during the forecast period.
At the initial stage, every crude oil or natural gas reservoir has sufficient reservoir pressure, but it declines with time. Post that, the oil well operators need to pump fluids and perform certain intervention operations, such as well stimulation, sand control, unloading well with nitrogen, gravel packing, pumping slurry, and scale removal. These are generally categorized as well cleaning & pumping operations. Similarly, for depleting reservoirs, the well requires some completions or mechanical operations such as the setting of plug or packer, fishing, perforation of producing wells, removing of scales, cutting tubular service, running a completion unit, and performing of straddle for zonal isolation. Demand for these services drives the well intervention segment for the Coiled Tubing Market.
In this report, the coiled tubing industry has been analyzed for six regions, namely, North America, South & Central America, Europe, Asia Pacific, Middle East, and Africa. According to the IEA, the US is determined to become the net exporter of energy by 2020, and to fulfill this objective, oil production is being increased across the nation. Moreover, the US is the top explorer and producer of shale oil and gas. The old oil & gas fields in the Permian Basin and Bakken Ford require intervention operations to enhance the productivity of the wells. Thus, North America dominated the coiled tubing industry in 2020.
To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Coiled Tubing Market.
Some of the key players are Schlumberger (US), Halliburton (US), NexTier Oilfield Solutions (US), Weatherford (Switzerland), and Baker Hughes (US). The leading players are adopting various strategies to increase their share in the coiled tubing industry. New product launches, and contracts & agreements have been a widely adopted strategy by the major players in the Coiled Tubing Market.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: newsletter@marketsandmarkets.com
