Wired Drill Pipe Market 2019 – Size, Share, Growth Factor, Business Development | Implement New Techniques to Reach with 3.2% CAGR Forecast Till 2023

“Wired Drill Pipe Market Information Report, By Location, By Component Type, By Application and By Region”
Wired Drill Pipe Market is expected to reach USD 1.1 Billion by 2023 and is expected to grow at a CAGR of 3.2% during the forecast period

Market Scenario:

North-America’s Oil & Gas Drilling Activity holds about 40% of the world’s current drilling activity. The exploration of new shale oil & gas in this region is on the verge of phenomenal growth with conventional & modern Drilling Methods. Many aging oil rigs in North America utilize the conventional drilling methods and data processing units which consume substantial time to generate the data and transmit it to the operators, this results into lower productivity and high operational time. Thus, the implementation of modern Drilling Technique by the application of Wired Drill Pipe Technology is the necessity of current market in North America, so as to obtain precise data from the oil & gas rigs and explore more oil & gas at low capital cost.

The growing oil & gas exploration around the world, with the continuous need of meticulous real time data from the wellbore, is driving the market for the Wired Drill Pipe. Wired Drill Pipe Market is segmented on the basis component type, such as telemetry, electrical conductors, electrical transmitters and pressure sensors, which fetch the real time enhanced data for applications, namely, data collection, managing pressure and checking integrity of wellbore operations.

A Sample of This Report Is Available upon Request @ https://www.marketresearchfuture.com/sample_request/4016

Wired Drill Pipe Market is segmented on the basis of location into onshore and offshore, to enable data recording and sensor reports for drill operations. The overall fast assessment of transmitted data results into lower downtime of rig and enables drilling time reduction by almost 3 days/well, which ultimately reduces the operational cost and increase the overall capital generated from the rig. All these factors constitute towards the growth of Wired Drill Pipe Market during the forecast period. However, high initial capital cost for setup and overall modification or replacement of the existing drill pipe will restrain the growth of Wired Drill Pipe Market.

The Wired Drill Pipe Market is expected to reach USD 1.1 Billion by 2023 and is expected to grow at a CAGR of 3.2% during the forecast period.

Latest Industry News

Norway’s Equinor has planned to increase the use of wired drill pipe in order to acquire real-time subsurface data during drilling operations in order to boost the technology of automated drilling.

The Board of Directors of the National Oilwell Varco, Inc. has authorized a share repurchase program to purchase up to the US $500 mn of the Company’s outstanding common stock. National Oilwell Varco is a leading provider of equipment, services, and technology, to the global oil and gas industry that supports customers’ requirements related to full-field drilling, completion, and production.

Key Players

The key players in the Global Wired Drill Pipe Market include

  • Baker Hughes (USA)
  • The Halliburton Company (USA)
  • IntelliServ (NOV) (USA)
  • Schlumberger Limited (USA)
  • Weatherford International PLC (USA)

Wired Drill Pipe acts as a multifunctional tool for the current oil & gas rig operators, who utilizes them as to obtain real-time wellbore data which is transmitted at a bandwidth of 57,000 bits/second in a seismic or sonic waveforms. Also, the ability to regulator downhole tools with wired drill pipe is another significant feature. Using the Wired Drill Pipe System, control of tools such as rotary steerable systems, LWD (Logging While Drilling) formation testers and geosteering sensors will allow instantaneous control and ratification of commands, permitting exceptionally precise control of the system. All these factors majorly contributes to the overall operational efficiency of the rig system and thus, maximizing the capital generated from the exploration & production operation.

Browse The Full Research Report At@https://www.marketresearchfuture.com/reports/wired-drill-pipe-market-4016

Table of Contents:

1 Executive Summary

2 Research Methodology

2.1 Scope of the Study

2.1.1 Definition

2.1.2 Research Objective

2.1.3 Assumptions

2.1.4 Limitations

2.2 Research Process

2.2.1 Primary Research

2.2.2 Secondary Research

2.3 Market size Estimation

2.4 Forecast Model

3 Market Dynamics

3.1 Market Drivers

3.2 Market Inhibitors

3.3 Supply/Value Chain Analysis

3.4 Porter’s Five Forces Analysis

Continue ……………

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
City: Pune
State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.com/reports/wired-drill-pipe-market-4016