Coiled Tubing Market Report 2026

The coiled tubing market size has grown rapidly in recent years. It will grow from $4.24 billion in 2025 to $5.04 billion in 2026 at a compound annual growth rate (CAGR) of 18.8%. The growth in the historic period can be attributed to growth in conventional oil and gas production, rising demand for cost effective well intervention methods, expansion of onshore drilling activities, increased focus on improving well productivity, availability of established oilfield service infrastructure.

The coiled tubing market size is expected to see exponential growth in the next few years. It will grow to $10.9 billion in 2030 at a compound annual growth rate (CAGR) of 21.2%. The growth in the forecast period can be attributed to increase in shale and unconventional resource development, rising investments in mature well rejuvenation, growing offshore exploration activities, demand for reduced downtime well services, advancements in coiled tubing materials and equipment. Major trends in the forecast period include increased adoption of real time well monitoring, growing use of high strength corrosion resistant tubing materials, rising preference for extended reach and complex well interventions, higher deployment of multi functional coiled tubing units, expansion of coiled tubing usage in unconventional reservoirs.

Rise in demand for petroleum products is expected to propel the growth of the coiled tubing market going forward. Petroleum products, referred to as oil products or petroleum derivatives, are a group of various substances that are derived from crude oil through refining processes. Coiled tubing is essential for tasks like well cleaning, stimulation, and maintenance, and the increasing demand for petroleum products necessitates more efficient and cost-effective solutions. For instance, in September 2023, according to Ministry of petroleum and natural gas, government of India, Growth for Petroleum products is registered 8. 2% YoY basis. Therefore, the rise in demand for petroleum products is driving the growth of the coiled tubing market.

Major companies in the coiled tubing market are exploring space-saving coiled tubing (CT) solutions to gain a competitive advantage and strengthen their product portfolios. Space-saving coiled tubing refers to specialized equipment and systems designed for the deployment and management of coiled tubing in industries such as oil and gas, with a reduced operational footprint. For example, in October 2025, Baker Hughes Company, a U.S.-based energy technology firm, expanded its integrated underbalanced coiled tubing drilling (UBCTD) operations through a multi-year contract with Aramco, under which the company will scale up its fleet of coiled tubing drilling units - including compact and integrated solutions - across Saudi Arabia’s natural gas fields. This initiative includes the deployment of 10 integrated coiled tubing drilling units that combine drilling and well intervention while optimizing equipment configuration and workflow efficiency to support re-entry and greenfield projects. Baker Hughes’ integrated coiled tubing approach leverages its CoilTrak bottomhole assembly system and advanced subsurface analytics to improve operational control, reflecting innovation in CT systems that reduce footprint and enhance productivity at rig sites compared with traditional, standalone coiled tubing and drilling assets. This expansion highlights the growing shift toward space-efficient, integrated coiled tubing technologies that improve hydrocarbon access while enabling more compact operational footprints.

In September 2023, Eastern Energy Services Inc., a U.S.-based provider of coiled tubing, fishing, pressure control, and well intervention services, acquired Conquest Completion Services LLC for an undisclosed amount. Through this acquisition, Eastern Energy Services aims to expand its coiled tubing fleet and strengthen its well intervention and completion capabilities across major U.S. onshore basins. Conquest Completion Services LLC is a U.S.-based company specializing in large-diameter coiled tubing units and related oilfield services.

Major companies operating in the coiled tubing market are Halliburton Company, Schlumberger NV, Baker Hughes Company, Weatherford International PLC, Oceaneering International Inc., Trican Well Service Ltd., Legend Energy Services, Superior Energy Services Inc., Basic Energy Services Inc., NexTier Oilfield Solutions LLC, Global Tubing LLC, Webco Industries, Sanjel Energy Services, Condor Energy Services, Archer Ltd., NOV Inc., Hunting Energy Services Inc., Cudd pressure control Inc., Nine Energy Service, Liberty Energy, Canyon Services Group Inc., Essential Energy Services Limited, Precision Drilling Corporation, Patterson-UTI Energy, Nabors Industries Limited, Ensign Energy Services Inc., Step Energy services.

North America was the largest region in the coiled tubing market in 2025. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the coiled tubing market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the coiled tubing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The coiled tubing market consists of the sales of truck-mounted and skid-mounted coiled tubing. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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