Drill Pipes Market Size Estimated To Reach $1.31 Billion By 2025

October 2016 | Report Format: Electronic (PDF)

The global drill pipes market is expected to reach USD 1.31 billion by 2025, according to a new report by Grand View Research, Inc. Increasing innovation regarding improving product strength is a major trend in the industry. Industry players are focused on developing new technologies and raw materials for better performance in all type of drilling conditions including onshore and offshore remote oil and gas fields.

However, the dip in the crude oil prices over the last two years has restricted the market growth. Rig rental capital is declining in the offshore market, and customers have significantly higher bargaining power in negotiating new contracts and extensions, leading to lower day rates and an oversupply of rigs. 

API grade drill pipes held the largest share in global demand and are expected to continue their dominance over the forecast period. Standardization of the finished products along with the relatively low prices of this grade are anticipated to promote market penetration. Utilizing these products also ensure reduced operational cost to the E&P and operator companies.

API grade products are mostly preferred in normal environments and conventional basins owing to the easy availability and reduced OpEx to both E&P and contractor companies. Exploration in unconventional and harsh environmental conditions particularly in shale, CBM, and tight reserves are expected to steer premium grade drill pipes demand over the forecast period.

 To request a sample copy or view summary of this report, click the link below:
http://www.grandviewresearch.com/industry-analysis/drill-pipe-market

Further key findings from the report suggest:

  • Premium grade drill pipes are expected to account for over 25% of the revenue by 2025. The increasing use of premium grade in tight oil and gas formation is anticipated to drive the segment growth over the next eight years.

  • Onshore fields dominated the global drill pipe market with a net demand of over USD 580 million in 2015. Hike in E&P in shale and CBM fields particularly in the U.S., Canada, and China have been the key factors responsible for high market penetration.

  • The U.S. market demand in offshore basins exceeded a net value of USD 64 million in 2015 and is estimated to grow at a CAGR of 4.3% from 2016 to 2025

  • Asia Pacific is anticipated to witness the fastest growth over the forecast period owing to the flexible regulatory scenario in economies including India, China, Indonesia, and Singapore. The Indonesian drill pipe industry is anticipated to reach a net value exceeding USD 19 million by 2025.

  • The global market is dominated mostly by regional players. Some of the multinational players include Inter Drill Asia, TPS TECHNITUBE RÖHRENWERKE, Vallourec, and National Oilwell Varco.

Grand View Research has segmented the global drill pipes market on the basis of grade, application and region:

Global Drill Pipes Grade Outlook (Revenue, USD Million, 2014 - 2025)  

  • API Grade

  • Premium Grade

Global Drill Pipes Application Outlook (Revenue, USD Million, 2014 - 2025)

  • Onshore

  • Offshore

Global Drill Pipes Regional Outlook (Revenue, USD Million, 2014 - 2025)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Russia

    • UK

    • Norway

  • Asia Pacific

    • China

    • India

    • Indonesia

  • Central & South America

    • Brazil

    • Argentina

    • Venezuela

  • Middle East

    • Saudi Arabia

    • UAE

    • Qatar

    • Kuwait

  • Africa

Request Sample
Request for Customization

Choose License Type:

Single User - $3,450
Multi User - $6,450
Enterprise User - $8,450

Special Pricing & Discounts

Avail customized purchase options to meet your research needs:

  • Buy sections of this report
  • Buy country level reports
  • Request for historical data
  • Request discounts available for Start-Ups & Universities

Why Choose Us

  • Research support

    24/5 Research support

    Get your queries resolved from an industry expert. Request for a free product review before report purchase.

  • Custom research service

    Custom research service

    Speak to the report author to design an exclusive study to serve your research needs.

  • Quality assurance

    Quality assurance

    A testimonial for service excellence represented in the form of BBB "A" Accreditation.

  • BBB Rating dandb
  • Information security

    Information security

    Your personal and confidential information is safe and secure.

  • BOA