Drill Pipes Market Research Report

 

Growth opportunities in the Drill Pipes Market look promising over the next six years. This is mainly due to the constant expansion in oil production, and the extrication of water and other natural resources largely needs tools like a pipe.

 

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Drill Pipes Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

Key Drivers

The augmenting demand for the expedition of oil and gas activities and the extraction of water and other natural resources, which demands a wide variety of important tools and equipment like pipes and collars, are the prominent factors driving the market growth. These pipes are one of the major instruments in drilling projects. The Alaska government authority, in Feb 2019, invested USD 45-65 Billion for the leading natural gas developments Mega-project in the United States. The project has an 800-mile pipeline from the full LNG liquefaction plant, storage and shipping terminal, and a gas treatment plant in the Alaska United States. Moreover, other factors like transmission drilling torque to the total length of pipe, resilience to pressure changes, and support the entire weight of deeper drilling components. Major players are involved in increasing oil production, and growing number of gas and oil inspection are projected to promote the market share. For example, Shell, in May 2019, initiated the production of deep-water oil and gas development at Appomattox, Virginia, the United States, at Shell's largest floating platform.


Additionally, the accelerating demand in water exploration activities owing to the rising shortage of water requires these pipes. For example, more than 2 billion people live in countries with high water stress areas, which is bolstering the market demand. However, the volatility in prices of raw materials for manufacturing of drill pipes and the risk of corrosion and stress problems in the oil and gas field will restrain the market growth.

Application Segment Drivers

Based on the application, onshore is predicted to expand at a higher CAGE over the forecast period. This is primarily attributed to their ability to perform drilling operations under the earth's surface like water and oil & gas activities and increasing initiatives by the government. In April 2021, Biden emancipated infrastructure plan with an investment of USD 111 Billion in water infrastructure, resulting in raising the market growth.

 

Drill Pipes Market’s leading Manufacturers:

·        RK Pipe LLC.

·        Inter Drill Asia Ltd.

·        Hunting PLC

·        Tenaris Company

·        International Drilling Services Ltd. (IDS)

·        Texas Steel Conversion Inc. (TSC)

·        Vallourec

·        Schoeller-Bleckmann Oilfield Equipment AG

·        Inter Drill Asia Ltd.

·        National Oilwell Varco

·        American Oilfield Tools, Inc.

Drill Pipes Market Segmentation:

Segmentation by Grade

·        Premium Grade

·        API Grade

Segmentation by Application

·        Offshore

·        Onshore

Segmentation by Region:

·        North America

o   United States of America

o   Canada

·        Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·        Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·        RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a market research and consulting company that offers business insights and market research reports for large and small & medium enterprises. Our detailed reports help the clients to make strategic business policies and achieve sustainable growth in the particular market domain. The company's large team of seasoned analysts and industry experts with experience from different regions such as Asia-Pacific, Europe, North America, among others, provides a one-stop solution for the client. Our market research report has in-depth analysis, which includes refined forecasts, a bird's eye view of the competitive landscape, key factors influencing the market growth, and various other market insights to aid companies in making strategic decisions. Featured in the 'Top 20 Most Promising Market Research Consultants' list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping our clients to stay ahead of the curve.

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