Drill Pipe Market Overview:-
Drill pipe mainly refers to a hollow tick-walled pipe, which is utilized to transfer out horizontal drilling for a facilitating drilling in a wellbore. A single length drill pipe comprises of a hollow tube usually extensive in height with satisfactory wall thickness along with joint connections at the two ends. Drill pipes are subject to torsional stress and fatigue at the phase of drilling, thus they are seamless in nature and are heat-treated to imitate to API specifications.
The global Drill Pipe Market is expected to grow at a CAGR of 3.47% during the forecast period.
It is valued that the global upstream oil and gas exploration & production activity is expected to stay at a high level for foreseeable future. Global oil and gas operators are marching towards the oil the gas exploration activities in spite of the recent collapse in the oil prices. For example, since 2009 oil exploration in Norway accounted for approximately 12% of the entire investment in oil and natural gas withdrawal process. Also, in the U.S., exploration drilling activities has seen a noteworthy rise after the upsurge in the onshore shale oil & gas production activities.
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Industry Top Key Players:-
- Oil Country Tubular Limited.
- DP Master Manufacturing Pvt Ltd.
- Drill Pipe International Llc.
- Hilong Group.
- Jiangyin Long Bright Drill Pipe Manufacture Co. Ltd.
- National Oilwell Varco.
- RK Pipe LLC.
- Superior Drill Pipe Manufacturing, Inc.
- Tejas Tubular Products Inc.
- Tenaris S.A.
- Texas Steel Conversion Inc.
In February, 2018 – NOV signed its first contract for the Seabox subsea water treatment system. The contract was signed with a main operator who will install the system at an offshore installation in the third quarter of 2018 for an extended test during the 2018/2019 winter season.
In June, 2017 – National Oilwell Varco, Inc. announced the introduction of several new proprietary technologies to its completion tools portfolio: Bulldog Frac – a sliding-sleeve annular fracturing system that provides pinpoint accuracy, zonal isolation, and improved reliability; Bullmastiff – a ball-drop openhole sliding-sleeve sand control fracturing system; Rottweiler – a product family of compact, high-performance frac plugs for the plug-and-perf market; ReAct – an intelligent completion tool technology that offers remote signaling capabilities for valves and sleeves for a variety of applications and completion designs; and German Oil Tools – a line of advanced liner hanger systems and other completion tool technologies, products, and accessories.
Scope of the Report:-
This study provides an overview of the global drill pipes market, tracking two market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Latin America Europe, Asia-Pacific (APAC) and Middle East & Africa. The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global drill pipes market by its grade, application, and region.
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Global Drill Pipe Market Analysis:
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 2016, 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 2016, with a market value of USD 725.6 million and is projected to grow at a CAGR of 3.15% during the forecast period.
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