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Wednesday, September 28, 2022

Global Drill Pipe Market to Grow at a CAGR of 5.4% Until 2027

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The new report by Expert Market Research titled, ‘Global Drill Pipe Market Size, Share, Demand, Report and Forecast 2022-2027’, gives an in-depth analysis of the global drill pipe market, assessing the market based on its segments like type, grade, application, and major regions.

Drill Pipe Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast

Get a Free Sample Report with Table of Contents- https://www.expertmarketresearch.com/reports/drill-pipe-market/requestsample

The key highlights of the report include:

Market Overview (2017-2027)

Report Attribute Details

Historical Period       2017-2021

Forecast Period        2022-2027

Base Year                2021

Market Size in 2021  USD 1.60 billion

Revenue Forecast in 2027   USD 2.19 billion

Growth Rate CAGR     5.4%

The surging focus on expanding new oil and gas fields is driving the market growth of drill pipes across the globe. The increasing demand for energy coupled with the growing drilling operation and rising industrialisation is expected to fuel the market growth of drill pipes over the coming years.

The rising investment in drilling activities along with the surging technological advancements and innovations correlated to drilling activities are further expected to propel the global drill pipe market demand during the forecast period. Moreover, the surging investment in unconventional gas exploration is further driving the market growth of drill pipes.

Drill Pipe Industry Definition and Major Segments

Drill pipes are utilised to manage different types of loads and are implemented in various environmental conditions. It has become a crucial tool used for drilling in oil fields. It features hollow piping that has thick walls that transmits the required drilling fluids and torque to the drill bit across the wellbore on the drilling rig.

By type, the drill pipe market is divided into:

Standard Drill Pipe
Heavy Weight Drill Pipe (HWDP)

Based on grade, the market is bifurcated into:

API
Premium

On the basis of application, the market is segmented into:

Onshore
Offshore

Based on region, the market is categorised into:

Latin America
North America
Europe
Asia Pacific
Middle East and Africa.

Drill Pipe Market Trends

The global drill pipe market is anticipated to witness growth during the forecast period due to an increase in onshore oil production coupled with increasing onshore drilling activities in regions like North America. Moreover, the substitute of the existing drilling activities to boost the production capacity of the rig is further anticipated to fuel the market growth of drill pipes across the globe over the coming years.

With an upsurge in demand for oil and gas production activities in countries like Canada and the United States, the market growth of drill pipes is expected to bolster globally in the upcoming years.

Key Market Players

Some major players in the market:

Drill Pipe International, LLC
RK Pipe and Supply, LLC
Premier Drill Products
Oil Country Tubular Limited
PetroMaterials Corporation
Others

The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

About Us:

Expert Market Research (EMR) is leading market research company with clients across the globe. Through comprehensive data collection and skilful analysis and interpretation of data, the company offers its clients extensive, latest, and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium scale enterprises.

EMR customises syndicated reports according to clients’ requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.

Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective, and intelligent business strategies and ensure their leadership in the market.

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