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The global market for drill pipes is expected to increase at a CAGR of 4.8% between 2023 and 2030, to a total of USD 1,143.8 million. Drill pipe is a hollow pipework with thick walls that is used to transport drilling fluid from the rig's wellbore to the drill bit. Pipes used in the drilling process are called drill pipes and are made of seamless steel. The high internal and exterior pressures of drilling fluids necessitate special construction of drill pipes. It is produced, inspected, and tested to ensure quality in accordance with API standards. API grades are used to categorise drill pipes into four different grades: E, X-95, G-105, and S-135.
The drill bit receives its power from the above-ground drilling engine, and the drill cuttings are flushed up to the surface via the drill pipe. Drill pipe must take enormous stress, strain, and heat throughout the drilling operation, so it's crucial to get it right. Thus, massive drilling activity together with rising demand for oil and gas feed the demand for drill pipe. Drill pipe markets throughout the world are segmented based on grade and end use. The quality can be further classified as either API or Premium. Drill pipe that meets API standards has superior fatigue resistance and higher mechanical and hydraulic efficiency. API grade drill pipe is a good option for many drilling applications due to its durability and fatigue-free performance in challenging environments. The increasing global rig count has resulted in a booming onshore drill pipe market.
Pipes with thin walls, often made of steel or aluminium alloy, are referred to as drill pipes, and they are typically used for horizontal drilling or to increase the speed of borehole drilling. The bit and annuals are hollow, so drilling fluid can be pumped down the hole via them. However, the drill string, of which the drill pipe is a part, also comprises the bottom hole assembly.
Tool joints are used to connect every drill pipe segment that has two ends. There are several variations of drill pipes, including the standard drill pipe, the high weight drill pipe, and the drill collar. Drill pipes are used in numerous industries, including as the oil and gas industry, agriculture, mining, and more. The development of new oil and gas reserves, as well as an uptick in mining activity, are the primary forces propelling the market forward. However, raw resources like crude oil can be expensive and unpredictable, which could have a significant impact on the demand for drill pipes. Onshore and offshore oil and gas exploration activities are a key contributor in the growth of the drill pipe market because of the increasing need for energy and petroleum products. As a result of recent advancements in drilling technology and the drop in crude oil price, there is a large market need for optimising E&P in existing oil fields that are currently working at profitable rates. As a result of decreasing exploration and production (E&P) efforts in response to rising oil and gas demand, supply has declined and prices have risen.
Rapid growth in the oil and gas industries, along with increasing automation, is expected to have a major impact on the development of the drill pine market. The business is expanding, and new technologies like robotics are being widely used in onshore and offshore drilling. Improvements in drilling techniques, like as horizontal drilling and hydraulic fracturing, also contribute to market expansion. The oil industry is getting ready to reimpose the restrictions put in place due to the spread of the coronavirus. Drill pipes and petroleum pipes serve an important role in the drilling industry, and as a result, their use is expected to rise. Drill pipes have the potential to significantly cut down on the expenses associated with drilling. It is possible to predict oil well pipe consumption based on the annual drilling scale. The mechanics of drill pipes and the way the surrounding environment behaves have a major impact on the oil industry's willingness to adopt cutting-edge technologies and its ability to increase output and efficiency. Prospects for drill pipe used in the oil and gas industry can be found in the many untapped markets across the world. For the foreseeable future, developing countries provide numerous lucrative opportunities for MNCs.
Lack of interoperability is one main issue that is predicted to slow market expansion. These interoperability issues in a number of countries could limit the continued market expansion, which would be bad for drill pipe sales and usage in the coming years. This is because drill pipes do not conform to any universal interoperability standards. Since RFIDs are not as commonly used in the oil and gas industry as they are in other sectors, it is up to the drill pipe industry to develop interoperability standards.
The increasing environmental unease caused by the release of potentially harmful gases during exploration is also anticipated to slow industry growth.There was a precipitous drop in the number of new contracts signed by businesses providing equipment rental services. By the year's end, however, it had recovered thanks to an uptick in oilfield activity and expectations of stable petroleum prices. Opportunities for profit are expected to increase in the near future thanks to the discovery of new hydrocarbon reserves, particularly in the South China Sea, Pakistan, Israel, Australia, Senegal, and Egypt.Key suppliers are expected to increase their investment in research and development (R&D) in order to optimise manufacturing of drill pipes and improve the overall material strength to satisfy the API criteria, which will help to sustain future demand.
Report Coverage
Global Drill Pipe research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Drill Pipe report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Drill Pipe competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Drill Pipe market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Drill Pipe market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Drill Pipe market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Drill Pipe International LLC. (USA), DP Master Manufacturing Pvt. Ltd. (Singapore), Hilong Group. (China), Jiangyin Long Bright Drill Pipe Manufacture Co. Ltd. (China), Interdril Asia Ltd. (India), National Oilwell Varco (USA), R K Pipe LLC. (USA), Oil Country Tubular Limited (India), Superior Drill Pipe Manufacturing Inc. (USA), Tenaris SA (Luxembourg), Tejas Tubular Products Inc.(USA), Texas Steel Conversion Inc.(USA), TPS-Technitube Röhrenwerke (Germany), TMK Group. (Russia), Vallourec SA (France)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Drill Pipe market based on the below-mentioned segments:
Global Drill Pipe Market, By Grade
API
Premium
Global Drill Pipe market, By Application
Onshore
Offshore
Global Drill Pipe market, Regional Analysis
The drill bit receives its power from the above-ground drilling engine, and the drill cuttings are flushed up to the surface via the drill pipe. Drill pipe must take enormous stress, strain, and heat throughout the drilling operation, so it's crucial to get it right. Thus, massive drilling activity together with rising demand for oil and gas feed the demand for drill pipe. Drill pipe markets throughout the world are segmented based on grade and end use. The quality can be further classified as either API or Premium. Drill pipe that meets API standards has superior fatigue resistance and higher mechanical and hydraulic efficiency. API grade drill pipe is a good option for many drilling applications due to its durability and fatigue-free performance in challenging environments. The increasing global rig count has resulted in a booming onshore drill pipe market.
Pipes with thin walls, often made of steel or aluminium alloy, are referred to as drill pipes, and they are typically used for horizontal drilling or to increase the speed of borehole drilling. The bit and annuals are hollow, so drilling fluid can be pumped down the hole via them. However, the drill string, of which the drill pipe is a part, also comprises the bottom hole assembly.
Tool joints are used to connect every drill pipe segment that has two ends. There are several variations of drill pipes, including the standard drill pipe, the high weight drill pipe, and the drill collar. Drill pipes are used in numerous industries, including as the oil and gas industry, agriculture, mining, and more. The development of new oil and gas reserves, as well as an uptick in mining activity, are the primary forces propelling the market forward. However, raw resources like crude oil can be expensive and unpredictable, which could have a significant impact on the demand for drill pipes. Onshore and offshore oil and gas exploration activities are a key contributor in the growth of the drill pipe market because of the increasing need for energy and petroleum products. As a result of recent advancements in drilling technology and the drop in crude oil price, there is a large market need for optimising E&P in existing oil fields that are currently working at profitable rates. As a result of decreasing exploration and production (E&P) efforts in response to rising oil and gas demand, supply has declined and prices have risen.
Rapid growth in the oil and gas industries, along with increasing automation, is expected to have a major impact on the development of the drill pine market. The business is expanding, and new technologies like robotics are being widely used in onshore and offshore drilling. Improvements in drilling techniques, like as horizontal drilling and hydraulic fracturing, also contribute to market expansion. The oil industry is getting ready to reimpose the restrictions put in place due to the spread of the coronavirus. Drill pipes and petroleum pipes serve an important role in the drilling industry, and as a result, their use is expected to rise. Drill pipes have the potential to significantly cut down on the expenses associated with drilling. It is possible to predict oil well pipe consumption based on the annual drilling scale. The mechanics of drill pipes and the way the surrounding environment behaves have a major impact on the oil industry's willingness to adopt cutting-edge technologies and its ability to increase output and efficiency. Prospects for drill pipe used in the oil and gas industry can be found in the many untapped markets across the world. For the foreseeable future, developing countries provide numerous lucrative opportunities for MNCs.
Lack of interoperability is one main issue that is predicted to slow market expansion. These interoperability issues in a number of countries could limit the continued market expansion, which would be bad for drill pipe sales and usage in the coming years. This is because drill pipes do not conform to any universal interoperability standards. Since RFIDs are not as commonly used in the oil and gas industry as they are in other sectors, it is up to the drill pipe industry to develop interoperability standards.
The increasing environmental unease caused by the release of potentially harmful gases during exploration is also anticipated to slow industry growth.There was a precipitous drop in the number of new contracts signed by businesses providing equipment rental services. By the year's end, however, it had recovered thanks to an uptick in oilfield activity and expectations of stable petroleum prices. Opportunities for profit are expected to increase in the near future thanks to the discovery of new hydrocarbon reserves, particularly in the South China Sea, Pakistan, Israel, Australia, Senegal, and Egypt.Key suppliers are expected to increase their investment in research and development (R&D) in order to optimise manufacturing of drill pipes and improve the overall material strength to satisfy the API criteria, which will help to sustain future demand.
Report Coverage
Global Drill Pipe research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Drill Pipe report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Drill Pipe competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Drill Pipe market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Drill Pipe International LLC. (USA), DP Master Manufacturing Pvt. Ltd. (Singapore), Hilong Group. (China), Jiangyin Long Bright Drill Pipe Manufacture Co. Ltd. (China), Interdril Asia Ltd. (India), National Oilwell Varco (USA), R K Pipe LLC. (USA), Oil Country Tubular Limited (India), Superior Drill Pipe Manufacturing Inc. (USA), Tenaris SA (Luxembourg), Tejas Tubular Products Inc.(USA), Texas Steel Conversion Inc.(USA), TPS-Technitube Röhrenwerke (Germany), TMK Group. (Russia), Vallourec SA (France) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Drill Pipe Market from 2021 to 2030.
- Market Forecast for Drill Pipe Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Drill Pipe competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Drill Pipe
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Drill Pipe market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Drill Pipe market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Drill Pipe International LLC. (USA), DP Master Manufacturing Pvt. Ltd. (Singapore), Hilong Group. (China), Jiangyin Long Bright Drill Pipe Manufacture Co. Ltd. (China), Interdril Asia Ltd. (India), National Oilwell Varco (USA), R K Pipe LLC. (USA), Oil Country Tubular Limited (India), Superior Drill Pipe Manufacturing Inc. (USA), Tenaris SA (Luxembourg), Tejas Tubular Products Inc.(USA), Texas Steel Conversion Inc.(USA), TPS-Technitube Röhrenwerke (Germany), TMK Group. (Russia), Vallourec SA (France)
Primary Target Market
- Market Players of Drill Pipe
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Drill Pipe market based on the below-mentioned segments:
Global Drill Pipe Market, By Grade
API
Premium
Global Drill Pipe market, By Application
Onshore
Offshore
Global Drill Pipe market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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