Drill Pipes Market Overview :
Global Drill Pipes Market is estimated to reach $1,478.7 Million by 2025; growing at a CAGR of 3.9% from 2017 to 2025.Drill pipes are steel tubulars fitted with threaded ends known tool joints, that are normally used in tension in the top part of the drill string to pump fluid and transmit torque to the bit. Tools joints are attached to the drill pipe tube by friction welding to produce a high integrity solid state weld connection between the tool joint and the upset drill pipe tube. Drill pipe have significantly higher torsion capacity than the standard, that is ideal for extended depth drilling. Its facilities are equipped with the most advanced manufacture equipment. It plays the vital role in the gas and oil exploration. It has to withstand immense load, stress, and heat throughout the drilling operation.
The growth of the global drill pipes market is mainly driven by factors such as rising investments for the growth of offshore oil fields, advancements in drilling technology, and increasingly sophisticated technologies for the production of unconventional resources. In addition, presence of huge unconventional onshore resources in countries such as Canada, China, U.S., and Argentina have also encouraged the growth of the market. However, low oil prices, and environmental disasters & stringent regulatory legislations are the restraint of the market. Moreover, new reserve discoveries, optimized drilling, and growing energy need from the developing economies of Asia Pacific are expected to equally influence the overall growth of market during the forecast period.
The drill pipes market is mainly classified on the basis of grade, application and geography. By grade, the market is classified into premium grade, and API grade. Further, application segment is bifurcated into offshore, and onshore.
By geography, global drill pipes market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). North America is further bifurcated in U.S. and Rest of North America, whereas Europe consists of UK, Germany, France, Italy and Rest of Europe. Asia-Pacific is segmented into China, Japan and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
Major companies operating in the global market include HILONG GROUP OF COMPANIES, Oil Country Tubular Limited, Tejas Tubular Products, Inc., Texas Steel Conversion Inc., DP-Master Manufacturing (S) Pte Ltd., National Oilwell Varco, Tenaris, VALLOUREC, TMK Group, and DRILL PIPE INTERNATIONAL, LLC, among others.
The key takeaways from the report
- The report will provide detailed analysis of Global Drill Pipes Market with respect to major segments such as grade, application and geography.
- The report will include the qualitative and quantitative analysis with market estimation over 2016 – 2025 and compound annual growth rate (CAGR) between 2017 and 2025
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Global Drill Pipes Market has been included in the report
- Profile of the key players in the Global Drill Pipes Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Drill Pipes Market
- Premium Grade
- API Grade
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Middle East