Market Highlights:
The growth of the drill pipe market is majorly driven by growing demand of oil & gas exploration activities for new onshore & offshore sites. The market is further driven by recent advancements in drilling technology. Recent decrease in crude oil price has generated demand for optimizing E&P from current oil fields and to operate at economical rates, Reduced E&P activities are resulting in reduced oil & gas supply in accordance to the oil & gas demand. Hence increase in oil & gas can be estimated after this downturn.
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Market Research Analysis:
North America accounted for the largest market share of 39.10% in 2016, with a market value of USD 376.3 million and is projected to grow at the highest CAGR of 4.30% during the forecast period. Europe was the second-largest market in 2016, valued at USD 194.4 million in 2016; it is projected to grow at a CAGR of 3.32%. This is mainly due to the flexible regulatory scenario in the region, government regulations and large scale E&P activity have been carried out in the region, specifically in U.S and Canada.
Scope of the Report:
This study provides an overview of the global drill pipe market, tracking two market segments across four geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next six years for each region.
The scope of the study segments the Global Drill Pipe market by its Application, Grade, and by Region.
By Application
Onshore
Offshore
By Grade
API
Premium
By Region
North America
Asia Pacific
Europe
Rest of the World
Key Players:
The key players of global drill pipe market are DP Master Manufacturing Pvt Ltd. (Singapore), Drill Pipe International Llc. (USA), Hilong Group. (China), Interdril Asia Ltd. (India), Jiangyin Long Bright Drill Pipe Manufacture Co. Ltd. (China), National Oilwell Varco. (USA), Oil Country Tubular Limited. (India), RK Pipe LLC. (USA), Superior Drill Pipe Manufacturing, Inc. (USA), Tejas Tubular Products Inc.(USA), Tenaris S.A.(Luxembourg), Texas Steel Conversion Inc.(USA), TMK Group. (Russia), TPS-Technitube Röhrenwerke (Germany) and Vallourec S.A. (France).
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