Global Drill Pipe Market Information Report by Grade, Region and by Global Forecast to 2023
Pune, April. 13, 2018 /Press release/ — The report for Drill Pipe Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance.
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.
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TOP KEY PLAYER: –
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) and Vallourec S.A. (France).
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The global drill pipe market is currently facing downfall due to low crude oil prices, which has generated demand for optimizing rigging process from existing oil fields and for operating them at effectively and cost efficiently. As a result, less E&P activities are resulting in reduced oil & gas supply compared to oil & gas demand. Hence, increase in oil prices could be observed in coming few years.
The global drill pipe market was led by North America, with a 39.1% share, followed by Europe and Asia-Pacific with shares of 20.2% and 13.5%, respectively. The global drill pipe market has been segmented based grade, application and by region. On the basis of application, onshore accounted for the largest market share of 56% in 2018, with a market value of USD 564.7 million and is projected to grow at a CAGR of 2.12% during the forecast period. Based on grade, API grade accounted for the largest market share of 75.4 % in 2018, with a market value of USD 725.6 million and is projected to grow at a CAGR of 3.15% during the forecast period.
List of Tables
TABLE 1 MARKET SYNOPSIS
TABLE 2 GLOBAL DRILL PIPE MARKET, BY APPLICATION, 2018-2023 (USD MILLION)
TABLE 3 GLOBAL DRILL PIPE MARKET, BY GRADE, 2018-2023 (USD MILLION)
TABLE 4 GLOBAL DRILL PIPE MARKET, API GRADE SPECIFICATION
TABLE 5 GLOBAL DRILL PIPE MARKET, BY REGION, 2018-2023 (USD MILLION)
TABLE 6 NORTH AMERICA: GLOBAL DRILL PIPE MARKET, BY COUNTRY, 2018-2023 (USD MILLION)
TABLE 7 NORTH AMERICA: GLOBAL DRILL PIPE MARKET, BY APPLICATION, 2018-2023 (USD MILLION)
TABLE 8 NORTH AMERICA: GLOBAL DRILL PIPE MARKET, BY GRADE, 2018-2023 (USD MILLION)
List of Figures
FIGURE 1 RESEARCH PROCESS OF MRFR
FIGURE 2 TOP DOWN & BOTTOM UP APPROACH
FIGURE 3 DRIVERS, RESTRAINTS, AND OPPORTUNITIES: GLOBAL DRILL PIPE MARKET
FIGURE 4 GROWTH DRIVERS: IMPACT ANALYSIS
FIGURE 5 GROWTH BARRIERS: IMPACT ANALYSIS
FIGURE 6 PORTER’S 5 FORCES ANALYSIS OF GLOBAL DRILL PIPE MARKET
FIGURE 7 GLOBAL DRILL PIPE MARKET SHARE, BY APPLICATION, 20168(% SHARE)
FIGURE 8 GLOBAL DRILL PIPE MARKET, BY APPLICATION, 2018-2023 (USD MILLION)
FIGURE 9 GLOBAL DRILL PIPE MARKET SHARE, BY GRADE, 2018 (% SHARE)
FIGURE 10 GLOBAL DRILL PIPE MARKET, BY GRADE, 2018-2023 (USD MILLION)
FIGURE 11 GLOBAL DRILL PIPE MARKET, BY REGION, 2018-2023 (USD MILLION)
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