Drill Pipe Market –Market Demand, Growth, Opportunities, Analysis of Top Key Players and Forecast to 2023
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This report provides in depth study of “Drill Pipe Market” using SWOT analysis i.e. Strength, Weakness, Opportunities and Threat to the organization. The Drill Pipe Market report also provides an in-depth survey of key players in the market which is based on the various objectives of an organization such as profiling, the product outline, the quantity of production, required raw material, and the financial health of the organization.
The global drill pipe market is expected to grow at 3.47% CAGR during the forecast period. In 2016, the market was led by North America, with a 39.1% share, followed by Europe and Asia-Pacific with shares of 20.2% and 13.5%, respectively.
Drill Pipe plays a crucial role in oil and gas exploration activities as they have to withstand enormous stress, load and heat during drilling operations. They are a critical part of the drilling operation as any failure can result in delays and operation and cost losses. The requirements of drill pipes for drilling operations get very stringent along the depth of the well. Furthermore, in well drilling operations, the well has to be drilled through rocky layers on land and sometimes inside the sea. As global oil and gas exploration activities are shifting towards difficult geographical areas, the demand for higher and better quality drill pipes are increasing in the recent years.
Some of the key players in the global drill pipe market are DP Master Manufacturing Pvt Ltd. (Singapore), Drill Pipe International Llc. (USA), Hilong Group. (China), Jiangyin Long Bright Drill Pipe Manufacture Co. Ltd. (China), National Oilwell Varco. (USA), Oil Country Tubular Limited. (India), R K Pipe & Supply L.L.C (USA), SUPERIOR DRILLPIPE MANUFACTURING, INC. (USA), Tejas Tubular Products Inc.(USA), Tenaris S.A.(Luxembourg), Texas Steel Conversion Inc.(USA), TMK Group. (Russia), TPS-Technitube Röhrenwerke GmbH (Germany) and Vallourec S.A. (France) among others. The companies in this market have adopted various strategies such as partnerships and collaborations, product launch, mergers and acquisitions, and expansions to append their market share.
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The market is driven by various factors such as increasing investment in oil exploration activities, advancement in drilling technologies. Especially in the U.S., Canada, Russia, the oil and gas industry is determined to install many rigs for oil & gas exploration, and these are expected to drive the market for drill pipes in near future. However, the growth of this market is expected to be hindered by high capital cost for drilling and stringent regulations for drilling activities. Drill pipe market is segmented into application, grade and region wise. On the basis of application, Onshore accounted for the largest market share of 58.68% in 2016 and is projected to grow at a CAGR of 2.12% during the forecast period. On the basis of grade, it is segmented into API grade and premium grade. API Grade accounted for the largest market share and expected to grow at a CAGR of 3.15%. Drilling pipe has great scope in North America region due to rising number of onshore drilling activities and development in drilling technologies.
• Distributer & Supplier companies
• Consultants and Investment bankers
• Government as well as Independent Regulatory Authorities
Global Drill Pipe Market Share:
The Drill Pipe market can be segmented on the basis of application as onshore and offshore. On the basis of grade, the market has been segmented as API Grade and Premium grade.
Regional Analysis of Drill Pipe Market
North America contributing substantially to the market growth on account of rising number of onshore drilling activities almost doubled from the past decade. Furthermore, The Europe oil and gas industry is expected to be dominated by countries such as U.K, Norway and Russia. The development of unconventional oil and gas exploration activities such as shale, is driving the market in the region.
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Major Key Points in Table of Content:
1 Executive Summary 12
2 Introduction 14
2.1 Definition 14
2.2 Scope of the Study 14
2.3 Assumptions 14
2.4 Market Structure 15
3 Research Methodology 16
3.1 Research Process 16
3.2 Primary Research 17
3.3 Secondary Research 17
3.4 Market Size Estimation 17
9 Company Profiles 66
9.1 Competitive Scenario 72
9.1.1 Competitive Landscape 72
22.214.171.124 New Product Development 72
126.96.36.199 Partnerships and Collaborations. 74
188.8.131.52 Expansions 75
9.2 Hilong Group of Companies 76
9.2.1 Company Overview 76
9.2.2 Product/Service Offering 76
9.2.3 Financial Overview 77
9.2.4 Strategy 78
9.3 Drill Pipe International Llc. 80
9.3.1 Company Overview 80
© Market Research Future Page 6
Global Drill Pipe Market – Trends & Forecast, 2017-2023
9.3.2 Product/Service Offering 80
9.3.3 Financial Overview 81
9.3.4 Strategy 81
9.4 DP Master Manufacturing Pvt. Ltd. (China). 83
9.4.1 Company Overview 83
9.4.2 Product/Service Offering 9.4.3 Financial Overview 83
9.4.4 Strategy 84
9.5 Jiangyin Long Bright Drill Pipe Manufacture Co. Ltd. (China) 85
9.5.1 Company Overview 85
9.5.2 Product/Service Offering 85
9.5.3 Financial Overview 85
9.5.4 Strategy 85
9.6 National Oilwell Varco USA 87
9.6.1 Company Overview 87
9.6.2 Product/Service Offering 87
9.6.3 Financial Overview 88
9.6.4 Strategy 89
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Source: EIN Presswire