Research methodology on Coiled Tubing Market
The research methodology used to create this report is based on the exploration of empirical data, past and current market developments and changing dynamics of the global Coiled Tubing Market. This study aims to cut through the complexities and gain comprehensive insights into the market, to offer actionable intelligence to key industries that drive the market presently and in the future. In-depth primary and secondary research is conducted to arrive at the overall market size at the global and regional levels and to provide a forecast for the near to medium-term future. In total, over 300 interviews were conducted for this purpose.
To gain a comprehensive understanding of the current state and future prospects of the market, the analysis includes a study of various industry bodies, including but not limited to the International Trade Centre (ITC), American Petroleum Institute (API) and International Drilling Contractors Association (IDCA). Factors affecting the current structure and operations of the global Coiled Tubing Market are thoroughly studied by conducting interviews and surveys of key players in the industry.
Secondary research includes published information available through trade journals and press releases, as well as studies conducted by market research firms and private organizations. This research is supplemented with primary research, where data is collected either via online surveys or physical interviews. The gathered data is compiled, filtered and analysed by the research team into measurable chunks and further used to develop the report.
Regional analysis
The study focuses on the Coiled Tubing market in North America, Europe, Asia Pacific and the Rest of the World (RoW). Secondary research is used to obtain the estimated value of the market for each region. The research includes inputs from various industry professionals and other stakeholders across the Southern Hemisphere like China, India, Japan and Australia.
Primary research
Primary research is conducted with various industry experts, including industry executives, industry consultants, third-party analysts, end-users and other industry bodies to gain a comprehensive understanding of the global Coiled Tubing industry. The primary research is conducted both in the form of one-on-one interviews and group interactions. Over 300 surveys are conducted for this report.
Assumptions
The forecasting model of the global Coiled Tubing market assumes that the industry development is driven by macroeconomic factors such as GDP, availability of substitutes, potential applications and technological advancements. Furthermore, market players are assumed to be aware of their respective competitive positions and respective product portfolios in the market.
Data triangulation
The data collected through primary and secondary research is cross-verified by using a triangulation technique. The top-down and bottom-up approaches are used to ensure the accuracy and reliability of the research findings. Such triangulation further helped in verifying the market size and value estimates, to maximise the accuracy.
Base year
The base year for the study is 2022, considering the same as a transiting point in the market developments.