Drill Pipes Market is projected to reach USD 2.44 billion by 2028, growing at a CAGR of 1.5% during the forecast period.
Drill pipes are steel or aluminum 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. Using friction welding, tool joints are connected to the drill pipe tube to create a high integrity solid state welded link between the tool joint and the upset drill pipe.
Rising investments toward technological enhancement with an aim to improve efficiency across the complete spectrum of E&P technology will stimulate the drill pipe market growth. Recent innovations including pad and horizontal drilling have reduced the downtime of drilling rig which in turn will propel the industry growth. Furthermore, development of extreme reach drill pipes for extended reach drilling will propel the business growth.
Drill pipe refers to a hollow thick-walled pipe, which is used to carry out horizontal drilling for facilitating drilling in a wellbore. A single length drill pipe consists of a hollow tube usually long in height with adequate wall thickness along with tool joint connections at the two ends. Drill pipes are subject to torsional stress and fatigue at the time of drilling, thus they are seamless in nature and are heat-treated to conform to API specifications.
Get Sample Copy of This Report @ https://www.quincemarketinsights.com/request-sample-58434?utm_source=offpage/SK
API drill pipe market is anticipated to grow at the highest rate during the forecast period. Cost-effectiveness, low temperature toughness and high torque resistance to withstand the harsh environmental conditions, are some of the underlying parameters which will propel the product adoption. Premium drill pipe market will also witness growth on account of its suitability for deep-water and ultra-deep-water exploration along with increasing offshore production.
Companies Covered: Major Companies profiled in the report which are key players in the global drill pipes market. Drill Pipe International LLC, Hilong Group, National Oilwell Varco, Tenaris S.A., Vallourec S.A., TMK Group, Oil Country Tubular Limited, Tejas Tubular Products Inc., Texas Steel Conversion Inc., DP Master Manufacturing Pvt Ltd., Jiangyin Long Bright Drill Pipe Manufacture Co. Ltd., RK Pipe LLC, Superior Drill Pipe Manufacturing Inc., Tenaris S.A., TMK Group, TPS-TechnitubeRohrenwerke, and Vallourec S.A.
Based on the application, the drill pipes market is segmented into offshore and onshore. The onshore drilling segment is expected to have the highest demand mainly due to the high investments required in off-shore drilling and also the regional regulations on exploration activities. The market is also expected to witness growth on account of increasing rig count coupled with lower operational risks as compared to offshore drilling. Ongoing shale projects coupled with huge untapped potential will drive the industry growth. Offshore drill pipe market is predicted to expand during the forecast period. Rising number of onshore mature fields along with increasing investment toward ultra-deep exploration will propel the business growth.
Key Factors Impacting Growth of Drill Pipes Market:
- Expansion of production activities & exploration.
- Growing demand for energy and technological advancements
- Increasing investments on new offshore reserves.
- Increasing energy demands
Key Developments:
- In March 2017, Noble Energy (US)announced to allocate USD 1.8 billion across onshore with major focus toward Eagle Ford, DJ Basin and Delaware Basin for drilling and completion
- In February 2018, National Hydrocarbon Commission of Mexico (CNH) announced that Qatar Petroleum & Shell gained the rights for exploration blocks as part of Mexico Deep Water Round 2.
- In February 2019, Baker Hughes(US), a GE company, the world’s first fullstream oil and gas company, has signed a Memorandum of Understanding (MoU) with Qatar Petroleum (QP) to explore new opportunities to expand its presence in the country and to support Qatar Petroleum’s Tawteen Program.
What Does This Report Provide?
This report provides a detailed understanding of the global drill pipes market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with potential impact on the drill pipes market during the forecast period and an in-depth analysis of the leading companies operating in the drill pipes market.
Market Segmentation:
By Grade:
- American Petroleum Institute (API)
- Premium
By Application:
- Onshore
- Offshore
By Region:
North America
Asia Pacific
Western Europe
Eastern Europe
Middle East
Rest of the World
Reasons to Buy This Report:
- Market size estimation of the global drill pipes market on a regional and global basis.
- Unique research design for drill pipesmarket size estimation and forecast.
- Profiling of major companies operating in the drill pipesmarket with key developments.
- Broad scope to cover all the possible segments helping every stakeholder in thedrill pipes.
ABOUT US:
QMI has the most comprehensive collection of market research products and services available on the web. We deliver reports from virtually all major publications and refresh our list regularly to provide you with immediate online access to the world’s most extensive and up-to-date archive of professional insights into global markets, companies, goods, and patterns.
Contact:
Quince Market Insights
Ajay D. (Knowledge Partner)
Office No- A109
Pune, Maharashtra 411028
Phone: US +1 208 405 2835 / UK +44 121 364 6144 / APAC +91 706 672 4848
Email: [email protected]
Global Drill Pipes MarketThe GMI Research forecasts that the Drill Pipes Market is witnessing an upsurge in demand over the forecast period.
This is mainly due to the constant expansion in oil production, and the extrication of water and other natural resources largely needs tools like a pipe.Introduction of the Drill Pipes MarketDrill pipe is hollow, thin-walled, steel or aluminium alloy piping used during drilling rigs.
They are manufactured by several processes such as welding, joint, extrusion together massively applicable in drilling oil field.Key Players of the Global Drill Pipes Market:RK Pipe LLC.Inter Drill Asia Ltd.Hunting PLCTenaris CompanyInternational Drilling Services Ltd. (IDS)Texas Steel Conversion Inc. (TSC)VallourecSchoeller-Bleckmann Oilfield Equipment AGInter Drill Asia Ltd.National Oilwell VarcoAmerican Oilfield Tools, Inc.Drill Pipes Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)The augmenting demand for the expedition of oil and gas activities and the extraction of water and other natural resources, which demands a wide variety of important tools and equipment like pipes and collars, are the prominent factors driving the market growth.
The project has an 800-mile pipeline from the full LNG liquefaction plant, storage and shipping terminal, and a gas treatment plant in the Alaska United States.
Additionally, the accelerating demand in water exploration activities owing to the rising shortage of water requires these pipes.
However, the volatility in prices of raw materials for manufacturing of drill pipes and the risk of corrosion and stress problems in the oil and gas field will restrain the market growth.Grade Segment DriversBased on the grade, API is contemplated to dominate the market primarily because of the acceptance offered for standard size specifications with various consented pipe grades which include E-75, G-105, and S-135 across several countries.Application Segment DriversBased on the application, onshore is predicted to expand at a higher CAGR over the forecast period.
Global Drill Pipes MarketThe GMI Research forecasts that the Drill Pipes Market is witnessing an upsurge in demand over the forecast period.
This is mainly due to the constant expansion in oil production, and the extrication of water and other natural resources largely needs tools like a pipe.Request a free sample of this reportIntroduction of the Drill Pipes MarketDrill pipe is hollow, thin-walled, steel or aluminium alloy piping used during drilling rigs.
They are manufactured by several processes such as welding, joint, extrusion together massively applicable in drilling oil field.Key Players of the Global Drill Pipes Market:RK Pipe LLC.Inter Drill Asia Ltd.Hunting PLCTenaris CompanyInternational Drilling Services Ltd. (IDS)Texas Steel Conversion Inc. (TSC)VallourecSchoeller-Bleckmann Oilfield Equipment AGInter Drill Asia Ltd.National Oilwell VarcoAmerican Oilfield Tools, Inc.Drill Pipes Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)The augmenting demand for the expedition of oil and gas activities and the extraction of water and other natural resources, which demands a wide variety of important tools and equipment like pipes and collars, are the prominent factors driving the market growth.
The project has an 800-mile pipeline from the full LNG liquefaction plant, storage and shipping terminal, and a gas treatment plant in the Alaska United States.
Additionally, the accelerating demand in water exploration activities owing to the rising shortage of water requires these pipes.
However, the volatility in prices of raw materials for manufacturing of drill pipes and the risk of corrosion and stress problems in the oil and gas field will restrain the market growth.Grade Segment DriversBased on the grade, API is contemplated to dominate the market primarily because of the acceptance offered for standard size specifications with various consented pipe grades which include E-75, G-105, and S-135 across several countries.Application Segment DriversBased on the application, onshore is predicted to expand at a higher CAGR over the forecast period.
