US Coiled Tubing Market 2025 – 2034

Reports Description

The US Coiled Tubing Market 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

Coiled tubing is mainly used for the interventions in the oil and gas wells for the production tubing in the depleted gas wells. Coiled tubing is often used to carry out operations similar to wire lining. The coiled tubing market is mainly driven by the increased oil and gas exploration activities across the U.S., increasing government and private investment in the region, aging oil & gas infrastructure, growth in the development of unconventional resource development, and supportive government policies.

Key Trends & Drivers

The US Coiled Tubing Market Trends have massive potential for growth for the following reasons:

• Increased Demand for Well Intervention Services: The demand for well intervention services is increasing across the U.S. as many oil and gas fields mature; operators require cost-effective solutions to maintain or boost production levels. The increasing popularity of the coiled tubing services, which allow for swift, minimal-downtime interventions such as cleanouts, stimulation, and acidizing, is crucial for extending and maintaining well life. Various factors such as aging oil & gas infrastructure, growth in the development of unconventional resource development, and supportive economic factors are mainly boosting the well intervention services. The stakeholders and government agencies operating the U.S. oil and gas industry are focusing on maintaining and enhancing the productivity of existing oil and gas wells. An aging oil infrastructure in the U.S. is boosting the demand for well intervention services. For instance, in 2024 the U.S. is managing more than 959,000 active producing wells. Many of these wells are aging, leading to declining production rates. Thus, such aging oil wells are boosting the demand for various well intervention services, such as stimulation, zonal isolation, and advanced diagnostics, which are essential for revitalizing these wells and extending their operational life.

• Rapidly Expanding Oil & Gas Industry in the U.S.: The rapidly expanding oil and gas industry in the U.S. is due to rising investment in the exploration and production of the oil and gas industry. The growing industrialization and increasing energy demand directly translate to more drilling and oil and gas development projects. Coiled tubing is essential for various stages of these oil and gas development activities, such as drilling stem tests, well completion, and initial production enhancement. The development in the major shale basins such as the Permian Basin, Bakken, and Eagle Ford is expected to drive the demand for coiled tubing. The U.S. has become the world’s leading oil producer and consistently leads in natural gas production. For instance, crude oil production was estimated at 13.8 million barrels per day (bpd) in 2024 and is expected to increase significantly during the forecast period. Furthermore, the natural gas production exceeded 100 billion cubic feet per day in 2024, making the U.S. a leading global exporter of LNG. The rapidly expanding infrastructure and exports support the growth of oilfield service providers and technology companies. Thus, growing oil and gas production drives demand for well intervention services, coiled tubing, drilling rigs, and oilfield equipment.

Key Threats

The US Coiled Tubing Market has a number of primary threats that will influence its profitability and future development. Some of the threats are:

• Fluctuating Oil Prices: The fluctuating oil prices are due to the volatility in the global oil supply chain. When prices decline, operators may reduce spending on well interventions, affecting demand for coiled tubing services. The fluctuations significantly impact coiled tubing by creating investment uncertainty for oilfield operators, leading to reduced drilling and well intervention activities during price downturns. The decline in the oil prices reduces the demand for coiled tubing services, hampering the market growth. Thus, oil price stability is crucial for sustained investment and operational planning in the coiled tubing market. The coiled tubing operation and services involve significant expenses, including equipment maintenance, skilled labour, and logistics. These costs can strain budgets, especially during periods of low oil prices.

• Technical Complexities and Operational Challenges: The installation and usage of the coiled tubing require highly skilled expertise and engineers. The technical complexities, such as wellbore integrity problems, equipment malfunctions, and limitations in accessing certain well conditions, can hinder the effectiveness of coiled tubing operations. The high cost of coiled tubing operations is because it involves significant expenses such as equipment maintenance, skilled labour, and logistics. These costs can strain budgets, especially during periods of low oil prices. Coiled tubing is highly susceptible to repeated bending, stretching, and torsional forces during deployment, which in turn creates the complexities in the installation. The continuous usage of this coiled tubing causes metal fatigue, cracking, or burst failure, especially in older wells with high operational cycles. Furthermore, stringent regulations related to environmental policies and regulations can increase compliance costs and operational complexities, impacting market growth. Dearth of uniformity in the regulations pertaining to usage and production of the coiled tubing is expected to restrain the adoption during the forecast period.

Key Opportunities

• Technological Advancements in the Coiled Tubing: The technological advancements in the coiled tubing equipment are increasing the efficiency, safety, and versatility of well intervention operations in the oil and gas industry. The key innovations in the coiled tubing technology, including the development of high-strength alloys and corrosion-resistant coatings, have expanded the range of applications for coiled tubing in harsh environments like deepwater drilling and unconventional resource extraction.  The stakeholders are developing the real time downhole measurement techniques and intelligent coiled tubing systems to tap the market opportunities. The key technological innovations, such as Halliburton’s SPECTRUM provides real-time coiled tubing services that utilize fibre-optic Distributed Temperature Sensing (DTS) diagnostics for accurate data collection. These services provide continuous data monitoring in a single trip downhole, optimizing treatment placement and reducing operational costs. Through these technologies the stakeholders can enhance recovery techniques, automation, and digital oilfield technologies to reduce operational costs and increase well productivity. These technological advancements collectively contribute to more efficient, cost-effective, and safer coiled tubing operations, addressing the evolving challenges of modern oil and gas extraction.

• Supportive Policy Landscape and Conducive Business Environment: The U.S. government is implementing supportive policies and investment support mechanisms to encourage the investment in the E&P projects. Federal and state policies encourage private equity and institutional investors to inject capital into the oil and gas exploration projects, which often require advanced well intervention techniques like coiled tubing. These policies include favourable tax incentives and regulatory frameworks that facilitate the deployment of coiled tubing operations in shale plays and offshore fields. Thus, a combination of supportive policies and strategic investments in technology and infrastructure is fostering a conducive environment for the growth of the U.S. coiled tubing market.

Category Wise Insights

By Services

• ‌Well Intervention & Production: The well intervention and production segment held the highest market share during the forecast period. It includes well completion, well cleaning, completion, stimulation, acidizing, hydraulic fracturing, and well cleaning. The coiled tubing allows operators and workers to perform these services and activities without disturbing production, reducing downtime and improving efficiency. Various factors such as rapidly expanding the oil & gas industry, increasing investment in the oil exploration activities, aging oil fields, and growing unconventional shale plays are expected to drive the market growth of this segment during the forecast period. Coiled tubing plays a crucial role in completing wells after drilling by enabling operations such as setting plugs, deploying perforating guns, and placing sand-control screens. Coiled tubing plays a major role in the wellbore to remove debris, sand, scale, paraffin, and other obstructions that restrict flow. It can also circulate fluids to clean out solids or hydrate plugs.

• ‌Drilling: The drilling segment is expected to grow at a significant pace during the forecast period. Coiled tubing finds many applications in the drilling activities, particularly for underbalanced and slim-hole drilling in unconventional reservoirs. The coiled tubing offers various benefits during the drilling activities, such as deployment at faster rates, cost reduction of rigs, and continuous circulation of drilling fluids, which improves efficiency and safety. Furthermore, the increasing drilling activities in the U.S. are expected to drive the demand for coiled tubing during the forecast period. For instance, the U.S. oil & gas rig count has been relatively stable: in early 2025, there were ~589 rigs active. The major advantage of the coiled tubing is to perform underbalanced drilling (UBD), where pressure in the wellbore is kept lower than reservoir pressure, minimizing formation damage and enhancing hydrocarbon recovery.

• ‌Others: The “Others” segment includes logging, perforation, cementing, and specialized remedial operations. These applications are niche and generally used in select wells requiring specialized attention. While the growth is steady, market share remains smaller due to lower frequency and project-specific usage compared to well intervention and drilling.

By Application

• ‌Onshore: The growing onshore exploration activities are coupled with an increasing number of onshore wells in the U.S. The coiled tubing finds applications in the onshore shale explorations such as U.S. shale plays like the Permian Basin, Eagle Ford, and Bakken. Coiled tubing offers extensive flexibility and efficiency, making it ideal for well intervention, completions, stimulation, and drilling support. For instance, the production of oil from onshore federal lands reached a record 1.7 million barrels per day. This is a sixfold increase since 2008, while national U.S. crude production almost tripled over the same period to ~13.2 million bpd in 2024. Thus, the coiled tubing is mainly used in the frequent cleanouts, scale removal, and acidizing to maintain productivity, and coiled tubing enables these tasks without the need for heavy workover rigs.

• ‌Offshore: The coiled find has many applications in the offshore oil and gas exploration operations. The major offshore oil & gas exploration fields, such as the Gulf of Mexico and deepwater fields, mainly use the coiled tubing in the U.S. The coiled tubing is mainly used for high-pressure, high-temperature (HPHT) and more technically complex well intervention, acid stimulation, sand cleanouts, and plug setting. Its ability to perform these operations while keeping the well live helps reduce downtime and maximize offshore production efficiency. Furthermore, increasing the number of offshore oil and gas well leases and rapidly expanding the offshore oil and gas industry are expected to drive the market, in 2024, the Bureau of Ocean Energy Management (BOEM) manages over 2,300 active oil and natural gas leases on approximately 12.5 million acres in the Federal Offshore Gulf of Mexico. Most active leases are in the Central Planning Area, such as south of Louisiana, Mississippi, Alabama, and the Western Planning Areas.

Tariff Impact on the US Coiled Tubing Market

The recently imposed tariff on various products and equipment related to the coiled tubing is creating positive and negative impacts on the coiled tubing market landscape. The end users and stakeholders operating in the industry ecosystem are increasing the cost of the coiled tubing, reducing margins, or absorbing more cost. Some may delay or cancel investments in new coiled tubing units or technology upgrades. The overdependence on imported steel and alloy-grade raw materials is becoming the liability.

The key suppliers operating in China, India, Brazil, etc., are subject to increased tariffs; they might reduce the exports and raise prices sharply. The increasing capital equipment costs of procuring coiled tubing units such as tubing reels, injector heads, and control systems might become more expensive. New unit deployment may slow, especially for smaller operators.

The increased raw materials cost due to coiled tubing made up of steel and other raw materials is increasing the overall production cost of the raw steel and finished tubing products. The higher costs can lead to delays in deploying coiled tubing units for various services such as well intervention, drilling, and fracturing.

Report Scope

Regional Analysis

The U.S. Coiled Tubing market is segmented into Northeast, Midwest, South, and West. Southwest (Permian) is the dominant driver of incremental CT demand think highest utilization and fastest fleet churn.

Northeast provides steady, lower-volatility gas-intervention work. The Midwest & West are dependable but smaller-scale markets where cost efficiency and specialized capability (cold weather, remote logistics) win.

Southeast is an opportunistic mix of onshore pockets and higher-value shallow offshore jobs. Across all regions, fleet flexibility, digital downhole monitoring, and HP/advanced tooling increase win rates and job margins.

Key Developments

• In June 2024, Baker Hughes made a public announcement that Petrobras, a Brazilian oil and gas corporation, has awarded it a multi-year contract to provide workover and plug and abandonment (P&A) services in a variety of locations. The agreement is set to begin in the first half of 2025 and requires Baker Hughes to deploy its integrated solutions portfolio, which includes tubular running, coiled tubing, wireline, wellbore intervention, cementing, geosciences, and fishing services, to improve performance across all of Petrobras’ offshore fields.

Leading Players

The US Coiled Tubing Market is highly competitive, with a large number of product providers in the US. Some of the key players in the market include:

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

These firms apply a sequence of strategies to enter the market, including innovations, mergers, and acquisitions, as well as collaboration.

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