Mark Twain's blog : Drill Pipes Market Size & Global Industry Forecast Report, 2021-2028
Global Drill
Pipes Market
According to the research report
published by the GMI Research, the Drill Pipes Market will encounter a boom during the forecast
period. The surging emphasis to establish new oil and gas fields and surging
exploration activities will drive the market growth.
Request for a FREE Sample Report on Drill Pipes Market
Introduction of the Drill Pipes Market
Drill pipes refer to a thin, empty, steel or aluminium alloy
tubing implemented in drilling rigs. The hollow pipe enables fluid to pass from
one point to another and is available in different strengths, sizes, and wall
thicknesses. It is a stable steel pipe used across the water, oil and gas
fields subjected to various levels of loads and different environmental
situations. Drill pipes are produced using several production processes such as
joint, welding, and extrusion massively applicable for drilling of oil field
Key Players of Market:
·
Hunting PLC
·
China Vigor Drilling Oil Tools and Equipment Co.
Ltd
·
Texas Steel Conversion Inc. (TSC)
·
American Oilfield Tools, Inc.
·
International Drilling Services Ltd. (IDS)
·
Workstrings International
·
National Oilwell Varco
·
Schlumberger Limited
·
Schoeller-Bleckmann Oilfield Equipment AG
·
Zhong Yuan Special Steel Co. Ltd
Drill Pipes Market Dynamics
Drill pipes are produced to convert drilling force to the
unified length of pipe, to abide pressure changes, and bind the overall weight
of the immersed drilling instruments. The augmenting demand for the analysis of
oil and gas and extrication of water and natural resources requires an
extensive range of essential tools such as collars and pipes. Drill pipes are
the most important tool required for any drilling projects. For instance, as
per the Global Drill Pipes Market Report, the Alaska government authority, in Feb, 2019,
decided to invest between USD 45-65 Billion for the development of world’s
biggest natural gas Mega-project in the United States. The project involves
800mile pipeline from a storage and shipping point, a gas purification plant at
Alaska United States, and the full LNG liquefaction plant.
Also, accelerating oil production and a surge in oil &
gas exploration activities by the major players will strengthen the market
growth. For instance, Shell, in May 2019, initiated production of deep-water
oil and gas development Virginia, United States. Moreover, the demand for drill
pipes is driven by the water investigation activities due to water shortage which
demands drilling pipes. For instance, globally over 2 Billion people live in nations
with areas experiencing high water pressure which resulted in huge market
growth. However, the fluctuation in the prices of raw material required fabricating
drill pipes and pipe subjected to erosion and stress issues in the oil and gas
field will curb the Drill Pipe Market Size.
Grade Segment Drivers
The API grade is projected to seize the largest share for
the drill pipes market over the forecast period. This is because of the
increasing acceptance for definitive size specifications with various
authorised drill pipe grades such as G-105, E-75, and S-135 across several
countries. Further, the calibration of the finalised products and the comparatively
less prices of this grade will supplement the Drill
Pipes Market Growth. They are normally selected in a standard environment
and traditional basins because of the easy accessibility and less OpEx to both
E&P and contractor organisations.
Application Segment Drivers
On the basis of application, the onshore segment is anticipated
to witness fastest growth in the global drill pipes market during the forecast
period. This is owing to its potential to manage drilling functions under the surface
of earth for several uses such as water and oil & gas exploration with an
increase in government initiatives. For instance, President Biden, in April,
2021, issued an infrastructure plan with a venture of USD 111 Billion in water
infrastructure. This will generate a robust demand for the drilling pipes in
United States to build water infrastructure.
Regional Segment Drivers
Based on the regional coverage, North America region is projected
to seize a notable share in the global drill pipes market due to the surging
activities of oil and gas production. This surge is attributed to the growing
demand from automobile and transportation sector. For instance, as per the US
Energy Information Administration, the yearly average oil production, in 2019,
touched 12.2 Million b/d in the United States whereas the natural gas
production of United approximated to be 116.8 Bcf/d in 2019.
Drill Pipes Market Segmentation:
Segmentation
by Grade
·
Premium Grade
·
API Grade
Segmentation
by Application
·
Offshore
·
Onshore
Segmentation
by Region:
·
Europe
o
United Kingdom
o
Germany
o
France
o
Spain
o
Rest of Europe
·
Asia Pacific
o
China
o
Japan
o
India
o
Rest of APAC
·
North America
o
United States of America
o
Canada
·
RoW
o
UAE
o
Brazil
o
South Africa
o
Saudi Arabia
About GMI
Research
GMI research is a prime organisation entrusted by some
preeminent enterprises for addressing their most pressing strategies. Our market
acumen offers a supporting hand to the clients to tackle the hardest business
issues and attain a sustainable market growth.
Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website:
www.gmiresearch.com
For More Info:
Offshore
Oil and Gas Pipeline Market
In:
- News