Tools commonly used in the Coil Tubing (Manufacturers) industry for day-to-day tasks and operations.

• Coiling machines
• Cutting machines
• Welding machines
• Testing equipment (e.g. pressure testing)
• Inspection equipment (e.g. ultrasonic testing)
• Cleaning equipment (e.g. acid cleaning)
• Heat treatment equipment
• Packaging equipment
• Forklifts and other material handling equipment
• Safety equipment (e.g. gloves, goggles, helmets)

Common products and services typical of NAICS Code 324199-02, illustrating the main business activities and contributions to the market.

• Well intervention
• Drilling
• Completion operations
• Hydraulic fracturing
• Cementing
• Acidizing
• Nitrogen purging
• Sand control
• Fishing operations
• Plug and abandonment

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

• API Spec Q1: This certification is required for companies that manufacture oil and gas industry equipment. It ensures that the company has a quality management system in place that meets industry standards. The certification is provided by the American Petroleum Institute (API).
• ISO 9001: This certification is a quality management system standard that is recognized globally. It ensures that the company has a quality management system in place that meets customer and regulatory requirements. The certification is provided by the International Organization for Standardization (ISO).
• OSHA 29 CFR 1910.120: This regulation is also known as the Hazardous Waste Operations and Emergency Response (HAZWOPER) standard. It requires employers to provide training to employees who are exposed to hazardous substances. The regulation is provided by the Occupational Safety and Health Administration (OSHA).
• DOT Hazardous Materials Regulations (HMR): These regulations are designed to ensure the safe transportation of hazardous materials. They require companies to properly label, package, and transport hazardous materials. The regulations are provided by the Department of Transportation (DOT).
• EPA Spill Prevention, Control, and Countermeasure (SPCC) Plan: This plan is required for facilities that store, handle, or transport oil or petroleum products. It outlines procedures for preventing and responding to oil spills. The plan is provided by the Environmental Protection Agency (EPA).

A concise historical narrative of NAICS Code 324199-02 covering global milestones and recent developments within the United States.

• The coil tubing industry has a relatively short history, with the first use of coiled tubing in the oil and gas industry dating back to the 1960s. The technology was initially used for well cleanouts, but it quickly evolved to include other applications such as drilling, completion, and intervention. Notable advancements in the industry include the development of coiled tubing units (CTUs) that can be transported by truck, the use of nitrogen to increase the pressure in the tubing, and the introduction of real-time monitoring systems. In recent years, the industry has faced challenges due to the decline in oil prices, but it has also seen growth due to the increasing demand for unconventional oil and gas resources. In the United States, the coil tubing industry has experienced significant growth in the past decade due to the shale revolution. The use of hydraulic fracturing has led to an increase in demand for coiled tubing services, particularly for well intervention and stimulation. The industry has also seen advancements in technology, such as the use of fiber optic cables for real-time monitoring and the development of longer and stronger tubing. However, the industry has faced challenges due to the oversupply of equipment and the decline in oil prices in recent years.

The anticipated future trajectory of the NAICS 324199-02 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

• Growth Prediction: Stable

  The future outlook for the Coil Tubing (Manufacturers) industry in the USA is positive. The industry is expected to grow due to the increasing demand for oil and gas exploration and production activities. The rise in shale gas exploration and production activities is also expected to drive the demand for coil tubing services. The industry is also expected to benefit from the increasing adoption of advanced technologies such as horizontal drilling and hydraulic fracturing. However, the industry may face challenges due to the volatility of oil and gas prices and the increasing competition from alternative energy sources. Overall, the industry is expected to grow steadily in the coming years.

Recent groundbreaking advancements and milestones in the Coil Tubing (Manufacturers) industry, reflecting notable innovations that have reshaped its landscape.

• Development Of High-Strength Coiled Tubing: The industry has witnessed the development of high-strength coiled tubing that can withstand high pressure and temperature. This has enabled the industry to perform complex drilling and completion operations in challenging environments.
• Integration Of Real-Time Monitoring Systems: The industry has integrated real-time monitoring systems that provide accurate data on downhole conditions. This has enabled the industry to optimize drilling and completion operations and reduce costs.
• Use Of Dissolvable Materials: The industry has started using dissolvable materials in coiled tubing operations. These materials dissolve over time, eliminating the need for costly and time-consuming interventions.
• Development Of Composite Coiled Tubing: The industry has witnessed the development of composite coiled tubing that is lighter and more durable than traditional steel tubing. This has enabled the industry to perform operations in deeper and more challenging wells.
• Adoption Of Automation and Robotics: The industry has started adopting automation and robotics in coiled tubing operations. This has enabled the industry to improve safety, reduce costs, and increase efficiency.