"Actionable Insights to Fuel Your Growth"
Oil among all types of fuels has been the most important source of energy in recent decades followed by coal, natural gas, nuclear and renewable energies. Hydrocarbon demand has been growing at a rapid pace with increasing investment across the global oil and gas industry infrastructure. Drilling is a vital activity in the extraction of oil and gas. Drill pipe is used during drilling operations to connect the surface drilling equipment to the bottom hole assembly and the drill bit.
A drill pipe transmits power from the drilling motor above ground to the drill bit and conducts drilling fluid down to the drill bit to flush out drill cuttings to the surface for removal. The selection of accurate drill pipe is essential as drill pipe has to withstand immense stress, load, and heat during drilling operation. Therefore, the demand of the drill pipe is fuelled by enormous drilling activities along increasing demand for oil and gas.
The global drill pipe market is classified into grades and applications. The grade is further segregated into API and Premium grade. API grade drill pipe provides better fatigue resistance with increased mechanical and hydraulic performance. The ability to withstand harsh terrain and deliver fatigue less performance makes the API grade drill pipe suitable choice in many drilling applications. Onshore drill pipe market witnessing a strong growth owing to rising number of rig count across the world.
Key Market Driver -
Key Market Driver – Replacement of existing drill pipe along with tremendous investment in drilling activities
Key Market Restraint -
Key Market Restraint – High cost associated with installation of drill pipe and complications in modifications
Ongoing development in unconventional gas extraction and minimum operational risk associated with onshore exploration is projected to stimulate the onshore drill pipe market. Though the onshore drill pipe market witnessing significant growth in the recent period offshore drill pipe market is also growing due to rising investment in ultra-deepwater exploration.
The demand for drill pipe is mostly driven by the replacement of the existing drilling pipe to enhance the production capability of the rig. Growing capital expenditure in drilling activities coupled with rising investment in unconventional gas exploration is expected to accelerate the demand of drill pipe.
The growth of the drill pipe market is retarded by the high cost associated with the installation of the drill pipe and complications involved in the modification of the drill pipe to accommodate existing design.
The major players in the drill pipe market are Tenaris, National Oilwell Varco, Weatherford, Alcoa Energy Systems (Formerly Alcoa Oil & Gas Inc. and RTI Energy Systems, Inc.), Interdrill Ltd, TSC Superior HDD, DP-Master Manufacturing, Hilong Group of Companies, TPS-Technitube Röhrenwerke GmbH, Drill Pipe International, LLC, Vallourec, and RK Pipe & Supply, LLC.
The drill pipe market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is expected to dominate the drill pipe market owing to rising drilling activities coupled with extensive share gas extraction. The United States playing a key role in the growing demand for drill pipe across the world. The demand for drill pipe in European countries is projected to grow at steady rate. Russia, UK, Italy, etc. are expected to share the substantial market of drill pipe.
To gain extensive insights into the market, Request for Customization
Massive economic growth coupled with rising capital expenditure is fuelling the growth of the drill pipe in Asia Pacific. Independent energy players in China and government energy companies are extensively investing in drilling activities to meet the rising demand for oil and gas. China is projected to lead the drill pipe market in APAC. Oil exporting countries in MEA, such as Saudi Arabia, UEA, Iran, Kuwait, etc. are expected to raise the production of hydrocarbon. UAE is projected to offer largest market for the growth of the drill pipe in MEA.
“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”- U.S.-based biotechnology company focussing on treatment of chronic pain.
“Kudos to your team. Thank you very much for your support and agility to answer our questions.”- Europe-based provider of solutions to automate data centre operations.
“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”- India-based manufacturer of industrial and specialty intermediates with a strong global presence.
“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”- One of the largest cosmetics company in the world.
“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”- U.S. based startup operating in the cultivated meat market.
“We received the below report on the U.S. market from you. We were very satisfied with the report.”- UGlobal hearing aids manufacturer.
“I just finished my first pass-through of the report. Great work! Thank you!”- U.S. based solar racking solutions provider.
“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”- World’s leading advisory firm.
“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”- Germany based machine construction company.
“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”- Japanese manufacturing company of stationery products.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry