Global Drill Pipe Market: Overview
The incessantly increasing demand for energy and the increasing demand for exploration of offshore reserves due to the declining production from onshore fields is leading to the utilization of new drilling technologies. The latest advances in drilling technologies such as pad drilling and horizontal drilling have amplified drilling efficiency and lessened drilling rig downtime which has enabled faster drilling operations. This will translate into the increased demand for drilling equipment, which includes drill pipe.
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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.
The report presents a comprehensive analysis of market dynamics, which includes drivers, trends, and challenges to understand the growth of the global drill pipe market between 2016 and 2024. With a snapshot of recent technological developments in this industry, the report presents the growth map of the global drill pipe market over the forecast period. The report analyzes the past and current performance of the market based on which a satisfactory conclusion regarding the market’s future is presented herein.
The research report presents an executive-level blueprint of the vendor landscape of the global drill pipe market. This includes a detailed assessment of the current competitive landscape and the changing hierarchical structure until the end of the forecast period in 2024. The market’s leading players are not only profiled for their key business attributes but their indices of strengths, weakness, opportunities, and threats over the forecast period are also analyzed. This provides valuable insights for existing players and new entrants in the market to formulate informed business decisions. The information is collected using primary and secondary data sources and by receiving valuable insights from industry experts, which is scrutinized using standard analytical tools such as SWOT analysis.
With an exhaustive collection of tables, charts, and graphical representations the market study presents a quantitative and qualitative analysis of the drill pipe market in a structured and concise manner.
Global Drill Pipe Market: Drivers and Restraints
The increasing offshore exploration and production activities within countries such as Norway, Angola, and the U.S. and increasing investments for the development of offshore oil fields are the major factors driving the global drill pipe market. The presence of large unconventional onshore resources in countries such as China, Canada, Argentina, and the U.S. is also bolstering the growth of the drill pipe market. However, the high operational cost of drilling procedures is challenging the market’s growth. Nevertheless, the increasing energy demand from the developing economies of Asia Pacific such as India and China will present ample opportunities to the growth of the market.
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Major Companies Mentioned in Report
The report mentions and profiles leading companies in the global drill pipe market some of which are 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, and Interdril Asia Ltd.