Global Drill Pipe Market 2022 Growth Opportunities, Shares, Future Estimations and Key Countries by 2029
Global Drill Pipe Market: size is expected to reach US$ 12.40 Bn. by 2029, growing at a CAGR of 3.47% during the forecast period.
Global Drill Pipe Market Overview:
A research team conducted extensive primary and secondary research for the worldwide industry's Global Drill Pipe Market study. Secondary research was conducted to supplement existing data, segment the market, assess total market size, anticipate market size, and growth rate.
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Global Drill Pipe Market Dynamic:
Drill pipe specify 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 enough wall thickness along with tool joint connections at the two ends.
The growing numbers of depth wells have raised the significance of drill pipe. However, the growth of market is anticipated to be hindered by high capital cost for drilling and stringent regulations for drilling activities. Resisting the growth in the global drill pipe market is the tanking crude oil prices. Customers now have firm bargaining power in negotiating new contracts and extensions too on account of the downward pressure on prices.
Market Scope:
Our team at Maximize collects market information and data from a number of sources in order to provide a more realistic regional perspective. The study's country-level analysis is based on a review of several regional stakeholders, regional tax laws and policies, consumer behaviour, and macroeconomic statistics.
Global Drill Pipe Market Segmentation:
Based on application, onshore applications occupy the xx % of market size but the offshore regions show higher growth rate due to the rise in offshore drilling activity in regions such as Africa and the Middle East. Onshore drill pipe market is predicted to witness growth on account of increase in rig count coupled with lower operational venture as compared to offshore drilling.
In terms of region, North America drill pipe market will witness strong growth, owing to rise in capital expenditure from independent players across the region. Asia Pacific and Central & South America are anticipated to witness above average growth rates over the next few years. Expected increase in rig activities along with several new field developments including the offshore basins especially in China, Indonesia, Australia and India is anticipated to drive Asia Pacific drill pipes industry growth.
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Global Drill Pipe Market Key Players:
• Superior Drillpipe Manufacturing Inc.
• Tenaris Company
• Drill Pipe International LLC
• DP Master Manufacturing Pvt Ltd.
• Shanghai Hilong Drill Pipe Co. Ltd.
• RK Pipe LLC
• TPS TECHNITUBE RÖHRENWERKE GmbH
• Inter drill Asia Ltd.
• Oil Country Tubular Limited
• TMK Group
• Vallourec
• Texas Steel Conversion
• Ferrostaal Piping Supply
• Holly Pipe Corporation
• E&M Supply Group
• Hilong Group
• Jiangyin Long Bright Drill Pipe Manufacturing Co.
• Premier Drill Products
• National Oilwell Varco
Regional Analysis:
A country-level examination of the Global Drill Pipe Market focuses on categories identified as potentially high-growth, countries with the largest market share, and countries with the highest development potential. The regional breakdowns in the Global Drill Pipe Market report include North America (USA, Canada), South America, Asia Pacific (China, Japan, India, Korea), Europe (Germany, UK, France, Italy), and Other countries.
COVID-19 Impact Analysis on Global Drill Pipe Market: The impact of COVID-19 on global Global Drill Pipe market has also been included in the report.
Key Questions answered in the Global Drill Pipe Market Report are:
- Which product segment had the largest share in the Global Drill Pipe market in 2020?
- How is the projected competitive landscape of the Global Drill Pipe market in the forecast period (2021-2027)?
- Which are the key factors aiding the Global Drill Pipe market growth?
- Which region is responsible for the maximum share in the Global Drill Pipe market in 2020?
- What will be the CAGR of the global Global Drill Pipe market in the forecast period (2021-2027)?
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