Coiled Tubing Drilling Service Market

Coiled Tubing Drilling Service Market Size

According to a recent study by Global Market Insights Inc., the coiled tubing drilling service market was estimated at USD 729.9 million in 2024. The market is expected to grow from USD 754.7 million in 2025 to USD 1.09 billion in 2034, at a CAGR of 4.2%.

• Increasing energy demand and aging oil and gas infrastructure are fueling investment in advanced drilling and well intervention technologies further complementing business landscape. Coiled tubing innovations significantly enhance operational efficiency and reduce costs particularly in mature fields, as operators seek safer, faster, and more cost-effective solutions for complex well servicing and re-entry operations.
  
• The extension of unconventional resource development, particularly through horizontal drilling and shale extraction, has significantly increased demand for coiled tubing solutions will positively influence industry outlook. Operators seeking advanced technologies to optimize production in complex reservoirs will accelerate the demand for coiled tubing systems across modern energy extraction strategies.
  
• For instance, in February 2024, NRL completed a major HDD crossing under the Subansiri River in Assam, India, connecting Lakhimpur and Majuli. This milestone is part of its 1,635 km crude oil pipeline from Paradip, Odisha to Assam. The project also includes tripling refinery capacity from 3.0 to 9.0 MMTPA under the Numaligarh Refinery Expansion Project (NREP), boosting regional energy infrastructure.
  
• The growing integration of automation and digital technologies is significantly transforming coiled tubing drilling operations. Enhanced accuracy, continuous real-time data acquisition, and improved operational safety are some of the vital parameters for tackling the complexities of offshore drilling environments. Companies are modernizing their workflows and are increasingly turning to service providers that deliver comprehensive, high-efficiency solutions designed to meet the specific demands of offshore fields further augmenting industry outlook.
  
• For instance, MinEx Project 2 aims to advance coiled tubing drilling for mineral exploration, enabling efficient drilling beyond 500 meters in greenfield and brownfield sites. Building on DET CRC’s CT rig, the project enhances sample quality, bit tracking, steering, and depth capacity up to 1000 meters. Industry partners include BHP, Anglo American, Vale, and others. Phase 3 runs from January 2025 to December 2027.
  
• North America holds a dominant share in the coiled tubing drilling service industry driven by the surge in oil and gas exploration across Gulf of Mexico fueled by rising energy demand and government-backed drilling initiatives. Increased investment in unconventional resources and advancements in well construction technologies are enhancing well integrity, especially in complex geological formations. Infrastructure development and the need for reliable coiled tubing solutions will complement industry growth.
  
• For instance, in October 2024, EnerMech successfully delivered a turnkey pre-commissioning project for a leading U.S. energy firm in the Gulf of Mexico. Services included vessel chartering, coiled tubing, pig launcher fabrication, and pipeline testing using proprietary technologies including the remote flooding console and subsea test pump, enhancing operational depth and efficiency.
  
• Europe is emerging as one of the fastest-growing regions in the coiled tubing drilling service sector, driven by strong shale gas and tight oil development, particularly in countries like Norway and Russia. The region benefits from a well-established drilling infrastructure and a strategic emphasis on horizontal and extended-reach well technologies and strict regulations around well integrity are pushing operators to adopt more advanced solutions. Ongoing technological advancements aimed at minimizing operational risks and enhancing the well performance supported by rising investments in unconventional energy resources is set to further enhance industry outlook.
  
• For instance, in July 2023, Island Drilling’s Island Innovator rig secured a contract extension from Dana Petroleum for an optional well in the UK, following a 2022 agreement covering three firm wells. The total contract, valued at USD 30 million, includes 80 days of firm work and 30 days optional. Upon completion, the rig will commence a drilling campaign in October 2023 with Trident Energy offshore Equatorial Guinea.
  

Coiled Tubing Drilling Service Market Trends

• The coiled tubing drilling service industry is anticipated to witness substantial growth, owing to the increasing deployment of advanced drilling technologies aimed at optimizing well performance and extending asset life cycles. Rising development of unconventional hydrocarbon resources and growing inclination on enhancing operational efficiency and ensuring well integrity across a variety of drilling environments will positively influence industry dynamics.
  
• For instance, in June 2025 Baker Hughes has secured a multi-year contract from Petrobras to deliver workover and plug-and-abandonment services across Brazil’s offshore pre-salt and post-salt fields. Beginning in early 2025, the project will utilize Baker Hughes’ integrated service portfolio including coiled tubing, wireline, cementing, and geoscience solutions along with digital tools and specialty chemicals.
  
• Ongoing technological advancements to enhance the reliability, safety, and versatility of coiled tubing systems used in drilling operations will complement the industry landscape. Innovations in high-performance materials, automation, and real-time monitoring capabilities to improve overall performance and contribute to minimizing the environmental impact of drilling activities for challenging well conditions, including high-pressure and high-temperature environments.
  
• For instance, in June 2025, Tenaris delivered a 2 7/8" BlueCoil string to Cudd Pressure Control, the largest and heaviest heat-treated coiled tubing ever produced in the U.S. Measuring 30,250 feet and weighing 192,000 pounds, the string was developed to meet shale market demands. Initiated in August 2024, the project culminated in May 2025, with deployment planned for the Eagle Ford and Permian Basins.
  
• The increasing demand for robust well construction solutions across both onshore and offshore operations is driving the adoption of coiled tubing technologies to improve drilling and completion efficiency. These systems enhance operational reliability across diverse geological conditions while contributing to the long-term value and performance of oil and gas assets which is set to stimulate industry dynamics.
  
• For instance, in September 2025, Halliburton unveiled the Turing control system, a next-generation enhancement to its SmartWell technology, designed to improve flow control and reservoir management. This advanced system incorporates embedded sensors that enable rapid and precise adjustments to well performance, significantly reducing setup time and minimizing operational risks. Seamlessly integrated with the Clariti digital platform, the Turing system delivers real-time data and actionable insights, empowering operators to maximize well productivity and streamline field operations.
  

Coiled Tubing Drilling Service Market Analysis

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Based on application, the market is segmented into onshore and offshore. The onshore segment dominates the market with 70.4% share in 2024 and is anticipated to grow at a CAGR of 4% from 2025 to 2034.

• The onshore coiled tubing drilling service market is witnessing significant growth driven by the ongoing expansion of shale resource development and presence of mature oil & gas infrastructure. Onshore operations employ a diverse range of drilling methodologies including vertical, directional, and horizontal drilling particularly in the extraction of unconventional hydrocarbons and comparatively lower operational costs than offshore projects further complementing industry landscape.
  
• For instance, in March 2024, Tenaris showcased its advanced BlueCoil coiled tubing technology at the 2024 SPE/ICoTA Conference in Texas. It offers superior fatigue resistance, strength, and reliability, backed by Tenaris’s metallurgical expertise, the technology enhances tubing lifespan and performance. The company’s coiled tubing portfolio supports various well intervention operations, including drilling, fracturing, logging, and stimulation.
  
• The offshore segment is set to grow at a CAGR of 4.5% from 2025 to 2034, owing to increasing demand for efficient, cost-effective well intervention and sidetracking solutions in mature offshore fields along with growing inclination toward exploration of hydrocarbon reserves. Moreover, push for energy transition, advancements in real-time monitoring, automation, and high-pressure/high-temperature capabilities along with digital integration, remote operations, and environmentally responsible drilling practices will augment industry outlook.
  
• For instance, in June 2025, SLB’s OneSubsea JV secured an EPC contract from Equinor for a CO2 subsea injection system under the Northern Lights Phase 2 project offshore Norway. Backed by TotalEnergies, Shell, and Equinor, the initiative supports large-scale carbon capture and storage. The scope includes two satellite injection systems and tie-ins, with initial deliveries set for 2026.
  

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Based on drilling type, the coiled tubing drilling service market is segmented into managed pressure drilling and directional drilling. The directional drilling segment accounted for over 64.7% of market share in 2024 and is set to grow at a CAGR of over 3.5% through 2034.

• Increasing demand for accessing unconventional resources including shale gas and tight oil formations along with deeper and more complex wells necessitate precise wellbore steering, further complementing industry landscape. Ongoing expansion of offshore and deepwater exploration activities along with continuous technological innovations in rotary steerable systems, automation, and real-time data analytics that enhance wellbore accuracy and reduce operational risks will stimulate industry dynamics.
  
• For instance, in August 2025, Nicol of Skene will provide HDD services at Portintruan Distillery on Islay, installing a 200mm pipe to improve wastewater systems. The project uses advanced drilling tools including a Prime Drill PD-80 and Brownline GYRO Steering. Led by Gordon Martin, with support from Keith Elliott and designer Callum Hillerby, the team collaborates with Elixir Distillers and Blyth & Blyth.
  
• Managed pressure drilling segment is anticipated to observe a CAGR of over 4.5% from 2025 to 2034. Rising complexity of deepwater and ultra-high pressure reservoirs, which require precise pressure control for successful drilling operations along with increasing focus on environmental safety and regulatory compliance, are prompting operators to adopt these techniques. Technological advancements in real-time monitoring and automation and paradigm shift towards integrated drilling systems that optimize pressure management, reduce formation damage, and enable safer drilling in challenging formations will complement industry landscape.
  
• For instance, in July 2025, Weatherford awarded a contract to deliver managed pressure drilling services for Trion deepwater oil project in Mexico, initially covering eight wells with potential for 24 wells. The company will use its Victus intelligent MPD system, featuring automated pressure control, real-time data, and a proven deepwater riser solution. This project strengthens Weatherford’s position in offshore drilling and expands its operations across the country.
  

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• The U.S. dominated the coiled tubing drilling service market in North America with around 62% share in 2024 and was evaluated at USD 182.4 million in revenue. The U.S. market is shaped by robust shale gas and tight oil production, particularly in the Permian basins and unconventional wells. Technological advancements in real-time monitoring, automation, and high-strength materials across well drilling are complementing industry growth.
  
• Regulatory focus on reducing emissions and improving the well integrity is encouraging the use of coiled tubing for drilling as safer, more efficient alternative to conventional methods is shaping the business landscape. Growing emphasis on refracturing and re-entry operations in mature wells along with operators are adopting coiled tubing for horizontal well interventions, sidetracking, and underbalanced drilling to enhance recovery and reduce downtime further augmenting industry outlook.
  
• For instance, in October 2025, the U.S. government plans to auction offshore oil leases in previously restricted U.S. coastal areas by 2026, including New England, California, and the Carolinas. It also reversed Biden-era protections by reopening 1.56 million acres in Alaska’s Arctic Refuge for drilling. Critics, including Democrats, condemned the move as favoring fossil fuel interests over environmental concerns and state opposition.
  
• North America coiled tubing drilling service market is set to grow driven by shifting focus on cost-effective well interventions, enhanced oil recovery (EOR) in mature fields and stringent environmental regulations to limit carbon emissions. Ongoing development of unconventional hydrocarbon resources and the need for efficient well intervention solutions along with region’s mature oilfields are driving demand for cost-effective solutions to extend well life and maximize recovery.
  
• Europe coiled tubing drilling service market is anticipated to witness a CAGR of over 3% by 2034. Increasing focus toward offshore operations for drilling and ongoing transition for renewables along with enhanced drilling efforts to maximize energy recovery from prevailing oil fields and tapping hydrocarbon reserves is complementing Europe coiled tubing business landscape.
  
• For instance, in September 2025, FourPhase completed the first remote offshore solids management operation in the North Sea for Aker BP, marking a milestone in offshore efficiency and safety. The two-month coiled tubing cleanout involved managing returns using advanced tools, including the DualFlow desander. Conducted via the Gnist digital operations center, the project minimized offshore exposure while enhancing production, showcasing the potential of remote interventions in complex offshore environments.
  
• Asia Pacific accounted for around 12% of the market share in 2024. Rising energy demand, aging oil fields, and increased exploration in offshore and onshore basins for hydrocarbon exploration further contributing to industry growth. Increasing energy consumption, domestic resource exploration across emerging economies, continuous drilling activities will positively influence business dynamics. Ongoing investments in unconventional resource development along with government initiatives to boost domestic production and reduce import dependency are accelerating drilling activities will favor industry outlook.
  
• For instance, in May 2025, China Petroleum Baoshi Pipe Industry has successfully developed its first titanium alloy coiled tubing through independent R&D, marking a major breakthrough for CNPC. This innovation addresses harsh drilling environments such as deep sea and ultra-deep wells. With superior strength, corrosion resistance, and reduced weight, 57% that of steel, the tubing enhances depth capacity and performance across drilling, completion, and hydrocarbon transport operations.
  
• The Middle East & Africa coiled tubing drilling service market is set to grow at over 2.5% CAGR by 2034. The presence of substantial oil reserves, coupled with rising investments in infrastructure modernization, is significantly shaping industry growth. Ongoing exploration of untapped hydrocarbon reserves and active field development initiatives will complement industry landscape. Efforts to maintain production levels along with continuous exploration of untapped hydrocarbon reserves and active field development initiatives are augmenting business landscape.
  
• For instance, in March 2025, Baker Hughes awarded a multi-year contract with Dubai Petroleum Establishment for coiled tubing drilling services in the Margham Gas storage project. Supporting Dubai’s energy transition, the project integrates Baker Hughes’ CoilTrak technology for enhanced horizontal drilling and reservoir contact. Alongside compressor systems and specialty chemicals, the company’s expertise contributes to a flexible, lower-emission energy infrastructure combining natural gas and solar power.
  
• Latin America coiled tubing drilling service market is gaining significant momentum driven by presence of substantial hydrocarbon reserves, coupled with robust foreign investment in energy infrastructure. Offshore expansion, unconventional resource development in Brazil and Argentina, and steady conventional drilling and rising demand for sophisticated drilling technologies will shape industry dynamics.
  

Coiled Tubing Drilling Service Market Share

• The top 5 coiled tubing drilling service companies operating across the industry are Weatherford, SLB, Halliburton, Baker Hughes, and NOV. These companies contribute a market share of approximately 58% in 2024.
  
• Leading players in the global coiled tubing drilling service market are aiming for strategic investments in smart technologies, automation, and high-performance materials. These companies are integrating real-time monitoring, AI-driven design, and predictive analytics into their coiled tubing systems to improve directional control, enhance well integrity, and reduce operational time. Innovations in managed pressure drilling are also helping operators achieve safer, more efficient drilling across both conventional and unconventional reservoirs.
  
• SLB delivers expert directional drilling solutions designed to keep wellbores precisely within the most productive zones. Utilizing advanced trajectory control technologies, SLB integrates Logging While Drilling (LWD) and Measurement While Drilling (MWD) systems to provide high-resolution data in real time. This enables fast, informed decisions during drilling operations, ensuring accuracy in expanded reach and complex directional wells.
  
• Baker Hughes offers advanced directional drilling services designed to precisely guide your wellbore into the most productive zones and maintain optimal trajectory all the way to total depth. Their integrated suite of horizontal drilling technologies is tailored to various reservoir conditions, helping reduce overall well construction costs while maximizing hydrocarbon recovery.
  
• Halliburton Sperry Drilling division delivers high-performance drilling solutions through a range of advanced technologies and tools. Their offerings include rotary steerable systems (RSS), high-efficiency drilling motors, turbodrill turbines, and specialized downhole equipment, designed to optimize wellbore placement, improve drilling precision, and enhance overall operational efficiency.
  
• NOV specialize in developing and manufacturing directional drilling technologies, supported by world-class R&D. The company focuses on delivering innovative tools and expert support that empower drilling contractors to compete globally with precision, reliability, and performance in complex well environments.
  
• Weatherford offers Managed Pressure Drilling (MPD) solutions which range from automated to intelligent systems that improve safety, reduce costs, and boost performance. The Victus intelligent MPD system precisely controls bottomhole pressure from land to deepwater using advanced algorithms for real-time analysis and rapid response.
  

Coiled Tubing Drilling Service Market Companies

Major players operating in the coiled tubing drilling service industry are:

• AFG Holdings, Inc.
• AnTech Ltd
• Baker Hughes
• Blade Energy Partners
• EXCEED (XCD) Holdings Ltd.
• FracJet-Volga LLC
• GOES GmbH
• Granite Construction Inc.
• Halliburton
• HI LONG OIL SERVICE & ENGINEERING CO., LTD.
• Hunting PLC
• KLX
• Nabors Industries Ltd.
• National Petroleum Services Company (NAPESCO)
• Oilserv
• Pruitt
• SLB
• Stena Drilling US Inc.
• TAQA KSA
• Tenaris
• Weatherford
  
  
• In the 9 months of 2025, Baker Hughes recorded a revenue of USD 20.3 billion, demonstrating sustained operational performance. For the entire year of 2024, the company generated total revenues of USD 27.8 billion. The company’s high-performance drilling motors engineered for greater penetration rates, increased torque and power, and reliable performance in high-temperature environments. These robust mud motors are optimized for hard rock formations and deliver consistent, high-quality boreholes often in a single run, while improving drilling efficiency and reducing operational time.
  
• Halliburton’s directional drilling systems are designed to shorten drilling time and improve reservoir access, whether in unconventional formations or extended-reach applications. contributing to improved performance and smoother operations. The company recorded revenues of USD 16.5 billion for 9 months of 2025 and USD 22.9 billion for the full year 2024, demonstrating consistent performance across its global operations.
  
• Weatherford’s Modus system delivers precise pressure control by continuously managing the primary well barrier. It enhances drilling stability, adjusts mud weights, boosts ROP, and supports optimized planning, reducing risks and improving performance across complex drilling environments. The company’s revenue for 9 months of 2025 was reported as USD 3.6 billion and USD 5.5 billion revenue for complete year 2024.
  
• SLB offers advanced directional drilling solutions, including autonomous systems, at-bit steering, and dynamic surveying. The company’s technologies optimize wellbore placement, reduce drilling risks, and enhance performance through real-time collaboration with drillers and contractors using intelligent downhole monitoring and planning tools. The company reported revenues of USD 25.9 billion for the first nine months of 2025, slightly down from USD 27 billion during the same period in 2024. For the full year 2024, total revenue stood at USD 36.2 billion, reflecting strong overall performance.
  
• NOV offers directional drilling tools through flexible commercial models, allowing customers to manage and maintain equipment independently. This approach ensures cost-effective deployment and operational efficiency while supporting long-term performance in diverse drilling environments. The company’s revenue for 9 months of 2025 recorded at USD 6.4 billion and for the full year 2024, USD 8.8 billion was recorded as revenue.
  

Coiled Tubing Drilling Service Market News

• In October 2025, Baker Hughes secured a multi-year contract from Saudi Aramco to scale its UBCTD (underbalanced coiled tubing drilling) operations across gas fields in Saudi Arabia. The agreement, booked in Q3 2025, will expand its fleet ten units from four units, supporting both re-entry and greenfield projects. Leveraging technologies like CoilTrak and GaffneyCline analytics, Baker Hughes aims to enhance drilling efficiency, safety, and reservoir performance.
  
• In August 2025, Reeflex Solutions Inc., through its subsidiary Coil Solutions Inc. (CSI), renewed and expanded its strategic partnership with Germany-based equipment manufacturer GOES GmbH. Under the enhanced agreement, GOES GmbH has been granted exclusive rights to distribute and service CSI’s coiled tubing injectors and associated equipment across the United Kingdom, wider European markets, and selected territories in Eurasia and South Asia, strengthening CSI’s international reach and service capabilities.
  
• In June 2025, EnerMech awarded a contract from ExxonMobil to provide a complete flowline decommissioning solution for the Hoover Diana project in the Gulf of Mexico. Marking its first major decommissioning initiative in the region, the scope includes advanced flushing, pigging, and nitrogen services, supported by integrated technologies including coiled tubing, chemical treatment and pressure pumping, to safely clear hydrocarbons and prepare subsea systems for retirement.
  
• In March 2025, AnTech executed a coiled tubing drilling (CTD) sidetrack operation to access previously untapped oil reserves in Alaska’s North Slope. Utilizing advanced geosteering technologies, the company enhanced well placement accuracy, reduced drilling time, and minimized emissions. In collaboration with a regional engineering partner, AnTech introduced azimuthal formation data and continuous rotation tools, marking the first global application of geosteering in CTD.
  

The coiled tubing drilling service market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Million) from 2021 to 2034, for the following segments:

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Market, By Drilling Type

• Managed pressure drilling
• Directional drilling

Market, By Application

• Onshore
• Offshore
  • Shallow
  • Deep
  • Ultra-deep

The above information is provided for the following regions and countries:

• North America
  • U.S
  • Canada 
• Europe
  • Russia
  • UK
  • Norway
  • Netherlands
• Asia Pacific
  • China
  • India
  • Australia
  • Indonesia
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
• Latin America
  • Brazil
  • Mexico
  • Argentina