Africa Coiled Tubing Market is Estimated to Grow at a CAGR of 6.4%

Date: 2015-08-08

“The Africa coiled tubing market is estimated to grow at a CAGR of 6.4% from 2014 to 2019. Although Algeria holds a larger share of the coiled tubing market, Egypt is growing at the highest rate. Ongoing and upcoming developments in offshore drilling and extensive shale exploration and production activities are growth opportunities for the coiled tubing service market. However, there is intense competition in the market, owing to the presence of several existing industry players that create barriers to entry. This hampers the growth of the market.

This report analyzes the coiled tubing (CT) services market on the basis of service type, application, and country. In terms of service, the report analyzes the market by types of services in various countries. In terms of country, the market is segmented into Algeria, Egypt, and other countries. The CT services included in this report are well intervention, CT drilling, and others. In order to enable a deeper understanding of the competitive landscape, the report profiles companies operating in the CT services market, including African oilfield service companies.  
The African countries in which CT applications are most frequently used are Algeria and Egypt. Egypt is estimated to grow at a higher CAGR than Algeria for the next five years. The increasing energy demand has compelled exploration and production companies to shift their focus to unconventional hydrocarbon resources. The E&P activities for unconventional resources require oil field services to produce oil & gas and to make the operations economically viable. This is likely to drive the coiled tubing market. The Africa coiled tubing market is a highly competitive market, with a large number of market players. As of 2014, the Africa coiled tubing market is estimated to be dominated by Schlumberger Limited (U.S.), Halliburton (U.S.), Baker Hughes Inc. (U.S.), Weatherford International Ltd. (Switzerland), and Trican Well Service (Canada). New product launches and partnerships, agreements, collaborations, and joint ventures are the key strategies adopted by market players to achieve growth in the coiled tubing services market.    

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