Global Drill Pipe Market, By Grade (API Grade and Premium Grade), By Application (Onshore and Offshore), By Region (North America, Asia-Pacific, Europe, MEA and South America), Competition, Forecast & Opportunities, 2014-2025
New York, Feb. 12, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release 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
Global drill pipe market was valued at USD 1,238 million in 2019 and is projected to grow at a CAGR of around 6.52% to reach USD 1,427 million by 2025. Growth in the market can be attributed to the increasing demand for energy coupled with the declining production in onshore fields, which has necessitated exploration of offshore reserves. Growing investments across upstream sector coupled with ongoing exploration & production of unconventional resources including shale and tight gas will drive the drill pipe market size across the globe. A drill pipe, is a hollow, thin-walled, steel or aluminum alloy piping that is used on drilling rigs.
In terms of application, the global drill pipe market is categorized into onshore and offshore, of which the onshore category was the largest segment in 2019 and it is anticipated to maintain its dominance during forecast period as well. The growth of the onshore category is majorly attributable to the development of unconventional reserves such as coal bed methane, tar 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 majority of the global market for drill pipes in 2019 and is anticipated to maintain its position during forecast period as well.
Burgeoning shale gas exploration and production in the US, has favored the drill pipe market in the North America.Middle East & Africa drill pipes market is expected to witness the fastest growth throughout the forecast period.
Rising focus towards achieving diversified economic growth along with various government schemes to enhance crude oil production is expected to propel the growth of drill pipe market in Middle East & Africa.
Drill pipe market is largely controlled by 4 major market players including Hilong Group, TMK Group, Tenaris S.A. and National Oilwell Varco. These companies have large scale manufacturing operations which cater to major oil & gas exploration hotspots 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
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021–2025
Objective of the Study:
• To analyze and forecast the market size of global drill pipe market
• To forecast global drill pipe market based on grade, application and regional distribution
• To identify drivers and challenges for global drill pipe market
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global drill pipe market
• To conduct the pricing analysis for global drill pipe market
• To identify and analyze the profile of leading players operating in the global drill pipe market
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of drill pipe manufacturers across the globe.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the suppliers which could not be identified due to the limitations of secondary research. The analyst examined the product offerings, distribution channels and presence of all major drill pipe manufacturers across the globe.
The analyst calculated global drill pipe market size using a bottom-up approach, wherein data for various end user industries and its application across various product types were recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company website, news articles, press releases, company annual reports, investor presentations and financial reports were also studied 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 drill pipe market
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, global drill pipe market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Market, By Application
• Market, By Type
o API Grade
o Premium Grade
• Market, By Region:
- Rest of Asia-Pacific
- United Kingdom
- Rest of Europe
o North America
- United States
o South America
o Middle East & Africa
- Saudi Arabia
- Rest of MEA
Company Profiles: Detailed analysis of the major companies present in global drill pipe market.
With the given market data, we offers customizations according to a company’s specific needs. 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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