Drill Pipe plays a crucial role in oil and gas exploration activities as they have to withstand enormous stress, load and heat during drilling operations. They are a critical part of the drilling operation as any failure can result in delays and operation and cost losses. Increasing investment in Oil exploration activities driving the growth of the market. Global oil and gas operators are stepping up the oil the gas exploration activities despite the recent slump in the oil prices. For instance, since 2009 oil exploration drilling in Norway accounted for about 12% of total investment in oil and natural gas extraction process. Additionally, increased demand for oil in Asia-Pacific region also provide further boost to the market. However, stringent regulations for drilling activities may hamper the growth of the market.
Hence, global drill pipe market is expected to reach a market size of USD 1,213.6 million by the end of the forecast period at CAGR of 3.47%.
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.
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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).
Scope of the Report
This study provides an overview of the global drill pipes market, tracking two market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Latin America Europe, Asia-Pacific (APAC) and Middle East & Africa. 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 pipes market by its grade, application, and region.
Global Drill Pipe Market, By Grade
- API Grade
- Premium Grade
Global Drill pipes Market, By Application
Table of Content
1 Executive Summary
2.1 Definition 14
2.2 Scope Of The Study 14
2.3 Assumptions 14
2.4 Market Structure 15
3 Research Methodology
3.1 Research Process 16
3.2 Primary Research 17
3.3 Secondary Research 17
3.4 Market Size Estimation 17
3.5 Forecast Model 19
4 Market Dynamics
4.1 Drivers 21
4.1.1 Increasing Investment In Oil Exploration Activities 21
4.1.2 Advancement In Drilling Technologies 22
4.2 Drivers: Impact Analysis 22
4.3 Restraints 23
4.3.1 High Capital Cost For Drilling 23
4.3.2 Stringent Regulations For Drilling Activities 23
4.4 Restraints: Impact Analysis 24
4.5 Opportunities 24
4.5.1 New Oil Reserves Discovery 24
4.5.2 Increased Demand For Oil In Asia-Pacific Region 24
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