The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033.
The Drill Pipe Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Drill Pipe Global Market Report 2024, The drill pipe market size has grown strongly in recent years. It will grow from $1.43 billion in 2023 to $1.52 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to increased oil and gas exploration boom, investments in offshore exploration, environmental and safety regulations, infrastructure development, global economic trends.The drill pipe market size is expected to see strong growth in the next few years. It will grow to $1.88 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%.
The increasing number of rig drilling operations is expected to drive the growth of the drill pipe market. A drilling rig is a comprehensive system used to penetrate the subsurface for various purposes such as creating water or oil wells. Drill pipe, made of steel or aluminum alloy, is a crucial component used in drilling rigs. For example, in February 2023, Baker Hughes Company reported that the number of drilling rigs operating in the US increased to 761 rigs, up by 126 units from the previous year. This upward trend in drilling activity indicates a growing demand for drill pipes, thus propelling the growth of the drill pipe market.
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The drill pipe market covered in this report is segmented –
1) By Type: Standard Drill Pipes, Heavy Weight Drill Pipes, Drill Collars
2) By Material: Alloys, Composites, Other Materials
3) By Application: Offshore, Onshore
4) By Industry: Oil And Gas Industry, Mining Industry, Agriculture Industry, Other Industries
Top Major Players
Hilong Group of Companies Ltd.,
Oil Country Tubular Ltd.,
Texas Steel Conversion Inc.,
Drill Pipe International LLC,
National Oilwell Varco Inc.
The drill pipe market report table of contents includes:
1. Executive Summary
2. Drill Pipe Market Characteristics
3. Drill Pipe Market Trends And Strategies
4. Drill Pipe Market - Macro Economic Scenario
5. Global Drill Pipe Market Size and Growth
6. Drill Pipe Market Segmentation
7. Drill Pipe Market Regional And Country Analysis
...............
33. Key Mergers And Acquisitions In The Drill Pipe Market
34. Drill Pipe Market Future Outlook and Potential Analysis
35. Appendix
List Of Tables :
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Drill Pipe Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Drill Pipe Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Drill Pipe Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
...........
Table 75: Hilong Group of Companies Ltd. Financial Performance
Table 76: Oil Country Tubular Ltd. Financial Performance
Table 77: Texas Steel Conversion Inc. Financial Performance
Table 78: Drill Pipe International LLC Financial Performance
Table 79: National Oilwell Varco Inc. Financial Performance
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The global Drill Pipe Market size is expected to value at USD 1.31 billion by 2025.
In addition, the development of advanced drilling techniques coupled with high-end productivity are expected to foster market growth in the upcoming years.
Globally, the drill pipe market is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest in research and development of the market.
Yet, substantial recovery in the oilfield activities and stabilizing crude oil costs are anticipated to fuel market growth in next five years.
In addition, factors responsible for robust growth of the API grade drill pipes segment include higher market penetration and easy installation.
The key players in the drill pipe industry are National Oilwell Varco (NOV) Co., Inter Drill Asia Ltd., Superior Drill Pipe Manufacturing Inc., DP Master Manufacturing Pvt., Ltd., Shanghai Hilong Drill Pipe Co., Ltd., TPS TECHNITUBE RÖHRENWERKE GmbH, Tenaris Co., Drill Pipe International LLC, VallourecS.A., and RK Pipe LLC.
This tough, convenient apparatus may not get all the consideration it truly merits, however one can't deny that it assumes a crucial job in the accomplishment of an undertaking, or its disappointment!drilling pipes This might be the uncelebrated yet truly great individual at the boring apparatus yet it is costly gear and it costs cash.
A string of drill pipe could be amazingly costly, now and again costing $25,000 or more (contingent upon the size, obviously).
Since the drill pipe is among the most costly wear thing for penetrating occupations, getting it and keeping up it is a need.The market is very focused and regardless of the downturn in the economy, the boring business sector is blasting.
In this way, the interest for drill funnels is entirely high, and there are a few variables to remember before purchasing.There are various types of drill pipes that one may purchase, extending from the most widely recognized indispensable produced pipe to the press and fit sort.
On the off chance that the pipe and the apparatus don't coordinate in size, the purchaser is in for a great deal of cerebral pains other than misuse of cash.
It is imperative to ensure that the drill pipe being obtained is sufficient for a specific apparatus or in any event, for the specific application one has as a top priority.It is critical to utilize the correct evaluation of pipe.
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