DUBLIN--(BUSINESS WIRE)--The "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, 2014-2024" report has been added to ResearchAndMarkets.com's offering.
Years Considered in this Study
- Historical Years: 2014-2017
- Base Year: 2018
- Estimated Year: 2019
- Forecast Period: 2020-2024
The Global Drill Pipe Market was valued at $1,150 million in 2018 and is projected to grow at a CAGR of around 4% by 2024.
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. A drill pipe is a hollow, thin-walled, steel or aluminium alloy piping that is used on drilling rigs. However, the tanking prices of crude oil is a major barrier for the growth of drill pipes market, globally.
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 2018 and it is anticipated to maintain its dominance during the 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. Among regions, the 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. For instance, Abu Dhabi National Oil Company (ADNOC) is planning to double its rig count in order to increase its production capacity.
Drill pipe market is largely controlled by 4 major market players including Hilong Group, TMK Group, Tenaris S.A. and National Oilwell Varco., which control nearly three-fourths of the overall market. 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.
Objectives of the Study
- To analyze and forecast the market size of the global drill pipe market
- To forecast the global drill pipe market based on grade, application and regional distribution
- To identify drivers and challenges for the global drill pipe market
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the global drill pipe market
- To conduct the pricing analysis for the global drill pipe market
To identify and analyze the profile of leading players operating in the global drill pipe market
Key Topics Covered
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
4.1. Factors considered while selecting a supplier
4.2. Product awareness and applicability & usage analysis
4.3. Challenges/issues faced post purchase
4.4. Unmet needs
5. Global Drill Pipe Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Grade (API Grade; Premium Grade)
5.2.2. By Application (Onshore; Offshore)
5.2.3. By Region (Asia-Pacific; Europe; North America; South America; Middle-East & Africa)
5.2.4. By Company (2018)
5.3. Market Attractiveness Index (By Grade; By Application; By Region)
6. North America Drill Pipe Market Outlook
7. Asia-Pacific Drill Pipe Market Outlook
8. Europe Drill Pipe Market Outlook
9. Middle East & Africa Drill Pipe Market Outlook
10. South America Drill Pipe Market Outlook
11. Market Dynamics
12. Market Trends & Developments
13. Competitive Landscape
13.1. Competition Outlook
13.2. Company Profiles
13.2.1. Basic Details
13.2.2. Financials (As reported)
13.2.3. Supply Chain Analysis
13.2.4. Key Market Focus and Geographical Presence
13.2.5. Planned Investments
13.2.6. Pricing of Target Products
13.2.7. Market positioning
13.3. Global Players Profiled (Leading Companies)
13.3.1 National Oilwell Varco
13.3.2 TMK Group
13.3.3 Hilong Group
13.3.4 Tenaris S.A.
13.3.5 Vallourec S.A.
13.3.6 Drill Pipe International LLC
13.3.7 Oil Country Tubular Limited
13.3.8 Tejas Tubular Products Inc.
13.3.9 Texas Steel Conversion Inc.
13.3.10 DP Master
Note: The companies list can be customized based on the client requirements
14. Strategic Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/y0iol7