The growth of the drill pipe market is majorly driven by growing demand of oil & gas exploration activities for new onshore & offshore sites. The market is further driven by recent advancements in drilling technology. Recent decrease in crude oil price has generated demand for optimizing E&P from current oil fields and to operate at economical rates, Reduced E&P activities are resulting in reduced oil & gas supply in accordance to the oil & gas demand. Hence increase in oil & gas can be estimated after this downturn. DRILL PIPE market is expected to grow over the CAGR of around 4% during the period 2017 to 2023
The key players of global drill pipe market are
- DP Master Manufacturing Pvt Ltd. (China),
- Drill Pipe International Llc. (USA),
- Hilong Group. (China),
- Jiangyin Long Bright Drill Pipe Manufacture Co. Ltd. (China),
- National Oilwell Varco. (USA),
- Oil Country Tubular Limited. (India),
- RK Pipe LLC. (USA),
- Superior Drill Pipe Manufacturing, Inc. (USA),
- Tejas Tubular Products Inc.(USA),
- Tenaris S.A.(Luxembourg),
- Texas Steel Conversion Inc.(USA),
- TMK Group. (Russia),
- TPS-Technitube Röhrenwerke (Germany)
- Vallourec S.A. (France).
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Market Research Analysis
Currently, North-America is maintaining its highest position in drill pipe market share. However, Asia-Pacific market share is expected to grow at a faster rate during the forecast period among other regions. This is mainly due to the flexible regulatory scenario in the region, government regulations and large scale E&P activity have been carried out in the region, specifically in India, China, Singapore and Indonesia. China, Argentina, Venezuela and Canada lead in current E&P onshore operations, whereas Angola, Norway, Tanzania and USA lead in current E&P offshore operations.
Continuous growth in gas & oil sector with substantial demand in various industrial, transportation and domestic use, increasing E&P activities around the world in both onshore and offshore sites, are major factors driving the growing demand of drill pipe market in the oil & gas industry. The new upgraded drilling technologies, pad drilling and horizontal drilling, which reduce the drilling downtime while increasing drilling efficiency, are resulting in economical drilling operations. One of the restraints of the drill pipe market is the drop in crude oil price over past few years. Also, the reduced oil rig rental may diminish the drill pipe market in offshore applications.
Taste the market data and market information presented through more than 50 market data tables and figures spread in 110 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Global Drill Pipe Market Research Report- Forecast to 2023”
Scope of the Report
This study provides an overview of the global drill pipe market, tracking two market segments across four geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the Global Drill Pipe market by its Application, Grade, and by Region.
- North America
- Rest of the World
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API Grade Accounts For Larger Market Size.
Currently, the API grade drill pipes have a larger market than premium grade drill pipes, owing to its comparatively lower cost. The application of API grade drill pipe helps reduce operational costs for E&P activities and the operating companies. API grade easily withstands normal drilling working conditions, which indirectly helps in reducing overall drilling & exploration costs.
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