US Coiled Tubing Market Size Likely to Surpass at a CAGR of 4.66% By 2034

Market Size and Growth

The US Coiled Tubing Market size is forecast to grow at a CAGR of 4.66% from 2025 to 2034. The market is expected to reach USD 348.8 Million by 2034, up from USD 229.45 Million in 2025.

Overview

Research Analyst of CMI, with a background of expertise in industry trends, anticipates continuous development in the U.S. Coiled Tubing market due to the upsurge in the production of conventional energy resources and increasing investment in the offshore oil & gas industry and rapidly increasing production of conventional energy resources.

Key Trends & Drivers

• Upsurge in production of conventional energy resources: Growing oil & gas exploration and production (E&P) activity in the U.S. due to growing demand for oil and gas. Furthermore, the supportive government policies to boost the output, especially from mature fields, and the growing need for efficient well-servicing tools like coiled tubing are expected to drive the overall market growth. For instance, according to the data published by the American Petroleum Institute (API), the world’s largest crude oil producer, with production reaching over 12 million barrels per day in recent years. The Permian Basin in Texas and New Mexico has been a major driver of this growth, thanks to advanced drilling techniques like horizontal drilling and hydraulic fracturing.

• Increasing investments in offshore oil & gas industry: The many government and private stakeholders operating in the oil and gas industry landscape are heavily investing in the offshore oil & gas industry to increase the oil and gas production to meet growing energy demand. Companies are deploying advanced drilling technologies, such as managed pressure drilling and real-time reservoir monitoring, to maximize offshore resource recovery. The Biden administration has implemented the 5-year OCS plan, which calls for three lease sales; the Trump government is supplementing it with its own plan to increase the overall oil & gas production in the US. Thus, such factors are expected to drive the overall market growth during the forecast period.

Report Scope

SWOT Analysis 

• Strengths: The Various factors such as an increase in the production of conventional energy resources, growing investments in the offshore oil & gas industry, and a rising emphasis on the development of mature oil fields are expected to provide the strength for the coiled tubing market. Furthermore, strong domestic demand coupled with increasing investment by the high operational efficiency of the coiled tubing enables continuous operations without halting production, reducing downtime and costs. The coiled tubing has excellent chemical and mechanical properties, and it can find versatile applications across the various applications, such as well cleaning, stimulation, drilling, and logging, making it indispensable in oilfield services.

• Weakness: The equipment and setup costs for the coiled tubing are very high, and the initial investment for the market entry is very high, which discourages the new entrant in the market, thereby hampering the overall market growth. Furthermore, heavy dependency on certain end-user industries and technical limitations for the usage of the coiled tubing have depth and pressure constraints compared to traditional drill strings, especially in ultra-deep wells.

• Opportunities: Various factors such as rapid technological advancements, increasing investments in the oil and gas industry, and supportive government policies are expected to create lucrative opportunities for the market during the forecast period. Adoption of real-time monitoring, automation, digital twins, and integration of advanced technologies are expected to improve the performance and reduce risks, thereby creating lucrative opportunities for the market during the forecast period. Coiled tubing’s lower footprint and reduced emissions compared to traditional rigs align with evolving sustainability goals.

• Threats: Lack of universal directives and regulations pertaining to usage of the coiled tubing and raw material price fluctuations can delay or cancel drilling and intervention projects, directly impacting service demand. Furthermore, competition from the emerging tools such as snubbing units and wireline services, which may challenge coiled tubing’s dominance, is expected to hamper the overall market growth during the forecast period.

List of the prominent players in the US Coiled Tubing Market:

• AMETEK Inc.
• ‌AMARDEEP STEEL
• ‌Baker Hughes
• ‌HandyTube LLC.
• ‌NOV
• ‌Oshwin Overseas
• ‌Sandvik AB
• ‌SLB
• ‌Tenaris
• ‌Webco Industries
• Others

The US Coiled Tubing Market is segmented as follows:

By Services

• ‌Well Intervention & Production
• Well Completion
• Well Cleaning
• Drilling
• Others

By Operations

• ‌Circulation
• ‌Pumping
• ‌Logging
• ‌Perforation
• ‌Others

By Application

• ‌Offshore
• ‌Onshore