The report “Drill Pipe Market by Application (Onshore and Offshore), by Grade (American Petroleum Institute (API) Grade and Premium Grade), and by Region (North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa) – Global Trends & Forecast to 2020’’ defines and segments the drill pipe market with analysis and forecast of the global E&P revenue and applications. It also identifies driving and restraining factors for the drill pipe market, with an analysis of trends, opportunities, burning issues, and winning imperatives.
Browse 81 market data tables and 43 figures spread through 144 pages and in-depth TOC on “Drill Pipe Market – Global Trends & Forecast to 2020”
Speak to Analyst: http://www.marketsandmarkets.com/speaktoanalyst.asp?id=220790381
Global drill pipe market is expected to cross USD 1.13 Billion by 2020. The growth of the energy demand coupled with the declining production in onshore fields will drive the demand for new drilling particularly in the offshore region. Apart from this, latest advances in the drilling technologies such as horizontal drilling and pad drilling has increased the drilling efficiency and reduced the drilling rig downtime which has facilitated faster drilling operations. This will create more demand for drilling equipment including drill pipe during the forecast period.
Although, the market size of API grade drill pipe is large, the growth in the premium grade drill pipe segment is higher. This is due to the increase in exploration activity in deepwater and ultra deepwater regions mainly in regions such as Europe and Africa where recent oil & gas discoveries have occurred in the offshore regions. Premium grade drill pipe is ideally suited for the purpose of deepwater exploration as it can withstand high pressure as well as high temperature conditions.
Onshore applications occupy the larger market size but the offshore regions show higher growth rate due to the increase in offshore drilling activity in regions such as Africa and the Middle East. Meanwhile, the development of unconventional reserves such as shale reserves, coal bed methane, and tar sands will drive the onshore drill pipe market.
Drill pipe market is driven by the increasing global petroleum consumption which grew from 91.28 Million barrels per day in 2013 to reach 92.45 Million barrels per day in 2014. Moreover, the declining production from onshore fields along with the discoveries of large petroleum reserves in offshore regions is expected to drive the future growth of drill pipe market.
The report covers major market players such as National Oilwell Varco (U.S.), Hilong Group (China), Vallourec S.A. (France), Tenaris S.A. (Luxembourg) among others. These companies together occupy more than three fourths of the drill pipe market.
MarketsandMarkets is world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, “RT” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Company Name: MarketsandMarkets
Contact Person: Rohan
Address:701 Pike Street, Suite 2175
Country: United States