Global Drill Pipe Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

MarketResearch.biz delivers in-depth insights on the global Drill Pipe market in its upcoming report titled, “Global Drill Pipe Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global drill pipe market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global drill pipe market report has been segmented on the basis of grade, end-use, and region.

Drill pipe is a thin-walled, hollow, steel, and aluminum alloy piping which is used in horizontal drilling and on drilling rigs to facilitate drilling of a borehole. Drill pipes are available in various types, sizes, weight, and strengths. Drill pipes basically provide connection between surface equipment and beta-hydroxy acid (BHA) for drilling purposes.

Increasing offshore exploration and production (E&P) activities, and rising investments in development of offshore oil fields across the globe are major factors expected to drive growth of the global market over the forecast period. In addition, increasing presence of conventional and large unconventional onshore oil and gas business, is another factor expected to fuel growth of the target market. Furthermore, technological advancements in drilling technology, pad drilling, and horizontal drilling techniques that increase efficiency of drilling are other important factors expected to support growth of this market in the near future. Moreover, increasing demand for oil and gas supply in various industrial, transportation and domestic applications, are expected to drive growth of the global market.

However, high production cost is a key factor expected to restrain growth of the global market over the forecast period. In addition, increasing atmospheric distress due to emission of hazardous gases is another factor expected to hamper growth of the target market in the near future.

Technological advancements and increasing energy demand from various industries in developing countries are expected to create potential revenue opportunities for players operating in the target market.

The market in North America dominates the target market in terms of revenue over the forecast period, owing to increasing adoption of drill pipes in oil and gas industrial applications especially in the US. The market in Asia Pacific is expected to register for significant share in the target market over the forecast period, owing to stringent government regulation, flexible regulatory scenario, and rising shale-related exploration activity, especially in China.

Global drill pipe market segmentation:

Segmentation by grade:

• API Grade
• Premium Grade

Segmentation by end-use:

• Onshore
• Offshore

Segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa