Global Drill Pipe Market, By Quality (API Grade & Premium Grade), By Application (Onshore & Offshore), By Region (North America, Asia-Pacific, Europe, MEA & South America), Competition, Forecast & Opportunity , 2014-2025
New York, February 12, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Global Drill Pipe Market, By Grade, By Application, By Region, Competition, Forecast & Opportunities, 2014-2025” – https://www.reportlinker.com/p05793316/?utm_source=GNW
The global drill pipe market was valued at USD 1,238 million in 2019 and is expected to grow at a CAGR of approximately 6.52% to reach USD 1,427 million by 2025. The market growth can be attributed to demand increasing energy associated with declining production. in onshore fields, which necessitated the exploration of offshore reserves. Growing investments in the upstream sector, coupled with the exploration and ongoing production of unconventional resources, including shale and tight reservoir gas, will drive the size of the drill pipe market across the globe. A drill pipe is hollow, thin-walled, steel or aluminum alloy tubing that is used on drilling rigs.
In terms of application, the global drill pipe market is categorized into onshore and offshore, of which onshore category was the largest segment in 2019 and it is also expected to maintain its dominance during the forecast period. The growth of the onshore category is mainly attributable to the development of unconventional reserves such as coal bed methane, oil sands and shale reserves.
In terms of region, the global drill pipe market is categorized into North America, South America, Europe, Asia-Pacific, and Middle East & Africa. North America accounted for the majority of the global drill pipe market in 2019 and is expected to maintain its position during the forecast period as well.
Booming shale gas exploration and production in the United States has boosted the drill pipe market in North America. The Middle East and Africa drill pipe market is expected to experience the fastest growth throughout the forecast period.
The increasing focus on achieving diversified economic growth along with various government programs to improve crude oil production are expected to propel the growth of the drill pipe market in the Middle East and Africa.
The drill pipe market is largely controlled by 4 major market players including Hilong Group, TMK Group, Tenaris SA and National Oilwell Varco. These companies have large-scale manufacturing operations that cater to major oil and gas exploration hot spots such as Africa and Asia-Pacific, among others. Some of the other players operating in the global drill pipe market are Drill Pipe International LLC, Oil Country Tubular Limited, Tejas Tubular Products Inc., Texas Steel Conversion Inc., DP Master, among others.
Years considered for this report:
Historical years: 2014-2018
Baseline year: 2019
Estimated year: 2020
Forecast period: 2021-2025
Goal of the study:
• To analyze and forecast the market size of the global Drill Pipe market.
• To forecast the global drill pipe market based on grade, application and regional distribution
• Identify the drivers and challenges of the global drill pipe market.
• To examine competitive developments such as expansions, new product launches, mergers and acquisitions, etc., in the global Drill Pipe market
• To perform price analysis for the global drill pipe market
• Identify and analyze the profile of the major players operating in the global drill pipe market.
The analyst performed both primary and secondary research exhaustive for this study. Initially, the analyst found a list of drill pipe manufacturers around the world.
Subsequently, the analyst conducted primary research surveys of the identified companies. During the interviews, respondents were also asked about their competitors.
Using this technique, the analyst could include suppliers that could not be identified due to the limitations of secondary research. The analyst looked at the product offerings, distribution channels and presence of all major drill pipe manufacturers around the world.
The analyst calculated the size of the global drill pipe market using a bottom-up approach, in which the data of various end-user industries and their application to various product types has been recorded and predicted for them. years to come. The analyst obtained these values from industry experts and company representatives and validated them externally by analyzing historical data for these types of products and applications to arrive at an appropriate overall market size.
Various secondary sources such as the company’s website, news articles, press releases, company annual reports, investor presentations, and financial reports were also investigated by the analyst.
Key target audience:
• Drill pipe manufacturers
• Drill pipe suppliers, distributors and other stakeholders
• Drill pipe end user industries
• Organizations, forums and alliances related to the drill pipe market
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important to industry players such as manufacturers, end users, etc., in addition to enabling them to develop investment strategies and capitalize on market opportunities.
Scope of the report:
In this report, the global Drill Pipe Market has been segmented into following categories in addition to industry trends which have also been detailed below:
• Market, by application
o On the ground
• Market, by type
o API quality
o Premium category
• Market, by region:
– Rest of Asia-Pacific
– The rest of Europe
– United States
o South America
o Middle East and Africa
– Saudi Arabia
– Rest of the MEA
Company Profiles: Detailed analysis of the major companies present in the global Drill Pipe market.
With the market data provided, we offer customizations based on the specific needs of a business. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
Profit margin analysis
• Profit margin analysis in case of direct and indirect sales channel.
Read the full report: https://www.reportlinker.com/p05793316/?utm_source=GNW
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