Drill Pipe Market Size, Share & Trends Report

Drill Pipe Market Size, Share & Trends Analysis Report By Grade (API, Premium), By Application (Onshore, Offshore), By Region (North America, Asia Pacific, Europe, Middle East), And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-1-68038-130-6
  • Number of Pages: 90
  • Format: Electronic (PDF)

Market Segmentation

  • Drill Pipes Grade Outlook (Revenue, USD Million, 2018 - 2030)
    • API Grade
    • Premium Grade
  • Drill Pipes Application Outlook (Revenue, USD Million, 2018 - 2030)
    • Onshore
    • Offshore
  • Drill Pipes Regional Outlook (Revenue, USD Million, 2018 - 2030)
    • North America
      • North America Drill Pipes Market, By Grade
        • API Grade
        • Premium Grade
      • North America Drill Pipes Market, By Application
        • Onshore
        • Offshore
      • U.S.
        • U.S. Drill Pipes Market, By Grade
          • API Grade
          • Premium Grade
        • U.S. Drill Pipes Market, By Application
          • Onshore
          • Offshore
      • Canada
        • Canada Drill Pipes Market, By Grade
          • API Grade
          • Premium Grade
        • Canada Drill Pipes Market, By Application
          • Onshore
          • Offshore
      • Mexico
        • Mexico Drill Pipes Market, By Grade
          • API Grade
          • Premium Grade
        • Mexico Drill Pipes Market, By Application
          • Onshore
          • Offshore
    • Europe
      • Europe Drill Pipes Market, By Grade
        • API Grade
        • Premium Grade
      • Europe Drill Pipes Market, By Application
        • Onshore
        • Offshore
      • U.K.
        • U.K. Drill Pipes Market, By Grade
          • API Grade
          • Premium Grade
        • U.K. Drill Pipes Market, By Application
          • Onshore
          • Offshore
      • Russia
        • Russia Drill Pipes Market, By Grade
          • API Grade
          • Premium Grade
        • Russia Drill Pipes Market, By Application
          • Onshore
          • Offshore
      • Norway
        • Norway Drill Pipes Market, By Grade
          • API Grade
          • Premium Grade
        • Norway Drill Pipes Market, By Application
          • Onshore
          • Offshore
    • Asia Pacific
      • Asia Pacific Drill Pipes Market, By Grade
        • API Grade
        • Premium Grade
      • Asia Pacific Drill Pipes Market, By Application
        • Onshore
        • Offshore
      • China
        • China Drill Pipes Market, By Grade
          • API Grade
          • Premium Grade
        • China Drill Pipes Market, By Application
          • Onshore
          • Offshore
      • Indonesia
        • Indonesia Drill Pipes Market, By Grade
          • API Grade
          • Premium Grade
        • Indonesia Drill Pipes Market, By Application
          • Onshore
          • Offshore
      • India
        • India Drill Pipes Market, By Grade
          • API Grade
          • Premium Grade
        • India Drill Pipes Market, By Application
          • Onshore
          • Offshore
    • Central & South America
      • Central & South America Drill Pipes Market, By Grade
        • API Grade
        • Premium Grade
      • Central & South America Drill Pipes Market, By Application
        • Onshore
        • Offshore
      • Brazil
        • Brazil Drill Pipes Market, By Grade
          • API Grade
          • Premium Grade
        • Brazil Drill Pipes Market, By Application
          • Onshore
          • Offshore
      • Venezuela
        • Venezuela Drill Pipes Market, By Grade
          • API Grade
          • Premium Grade
        • Venezuela Drill Pipes Market, By Application
          • Onshore
          • Offshore
      • Argentina
        • Argentina Drill Pipes Market, By Grade
          • API Grade
          • Premium Grade
        • Argentina Drill Pipes Market, By Application
          • Onshore
          • Offshore
    • Middle East
      • Middle East Drill Pipes Market, By Grade
        • API Grade
        • Premium Grade
      • Middle East Drill Pipes Market, By Application
        • Onshore
        • Offshore
      • Saudi Arabia
        • Saudi Arabia Drill Pipes Market, By Grade
          • API Grade
          • Premium Grade
        • Saudi Arabia Drill Pipes Market, By Application
          • Onshore
          • Offshore
      • UAE
        • UAE Drill Pipes Market, By Grade
          • API Grade
          • Premium Grade
        • UAE Drill Pipes Market, By Application
          • Onshore
        • Offshore
      • Qatar
        • Qatar Drill Pipes Market, By Grade
          • API Grade
          • Premium Grade
        • Qatar Drill Pipes Market, By Application
          • Onshore
          • Offshore
      • Kuwait
        • Kuwait Drill Pipes Market, By Grade
          • API Grade
          • Premium Grade
        • Kuwait Drill Pipes Market, By Application
          • Onshore
          • Offshore
    • Africa
      • Africa Drill Pipes Market, By Grade
        • API Grade
        • Premium Grade
      • Africa Drill Pipes Market, By Application
        • Onshore
        • Offshore

Drill Pipe Market Dynamics

Drivers: Rising Global Hydrocarbon Exploration And Production

The Environmental Impact Assessment (EIA) reports a swift rise in global energy consumption, driven by higher electricity usage and transportation needs. This trend is bolstered by growing per capita income and a rising global Gross Domestic Product (GDP). The BP Energy Outlook 2014 predicts that global energy demand will grow at an average rate of 1.5% per year, leading to a 41% increase from 2012 to 2035. Over the past five years, there’s been a surge in domestic production of chemicals and fuels in emerging and developing economies such as China, India, Brazil, Russia, and South Africa. This increase in disposable income and economic growth has amplified energy demand worldwide, particularly in non-OECD Asia Pacific and Latin America. Furthermore, improved supply adequacy, along with energy sustainability and security, has intensified global energy demands. This rising primary energy demand has influenced petroleum exploration and production (E&P) activities. The global petroleum industry has seen an upswing in crude oil production in recent years, especially in the Middle East & Africa, and North America, both onshore and offshore. In 2014, global crude oil production reached 88,673 thousand barrels per day (BPD), with the Middle East leading the industry, followed by Europe & Eurasia. The escalation in petroleum activities in countries such as the U.S., Indonesia, Venezuela, China, Nigeria, and Canada has significantly contributed to the increased demand for drilling pipes in recent years. In addition, there’s been a rise in production in the associated oil & gas reserves worldwide.

Shift In Trend Toward Developing Unconventional Resources

The world’s energy needs are rapidly increasing, leading to the exhaustion of traditional oil and gas sources, which could impact future energy requirements. The global natural gas demand is projected to rise at a Compound Annual Growth Rate (CAGR) of 1.9% from 2012 to 2035, with non-OECD countries driving most of this growth, surpassing the growth in OECD demand. This trend is likely to heighten reliance on exploited conventional sources. As energy demand rises and conventional energy sources dwindle, the industry is turning its attention to the development of unconventional resources. Natural gas production, particularly in North America and Asia Pacific, has been expanding swiftly due to its eco-friendly properties. To cater to the ever-increasing energy needs, major Exploration & Production (E&P) companies are focusing on developing unconventional oil and gas reserves, including shale oil, shale gas, tight oil, tight gas, and coal bed methane (CBM). This shift towards unconventional resources has sparked a shale gas revolution, especially in the U.S., transforming the country from a net exporter to a net importer of natural gas between 2011-2012. The development of unconventional gases in the U.S. since 2006 has not only had a lasting effect on the North American gas supply but has also instigated significant changes in the global gas market. Shale reserves and tight gas are anticipated to make up most of the natural gas production from 2012 to 2020.

Restrains: Decreasing Rig Activities Owing To Low Crude Oil Prices

The last couple of years have been challenging. Falling crude oil prices have led to a decrease in rig operations. This has had a negative impact on all players in the oil industry, including oil producers and service providers, causing a downturn in the drill pipe market. The exploration and production from deepwater and ultra-deepwater wells require substantial capital investments. These investments need to be backed by high oil prices to ensure attractive returns and risk justification. Although these projects usually have lower break-even costs than onshore shale wells, they involve longer planning cycles and significantly higher initial costs. This has made oil companies more cautious about committing to these projects in the current climate. The offshore market is seeing a reduction in rig rental income, and customers now have a stronger negotiating position when it comes to new contracts and extensions. This has resulted in lower daily rates and an oversupply of rigs. As per IHS Petrodata, the number of globally contracted rigs has decreased from 737 to 673 within a year. The day rates for new ultra-deepwater contracts have dropped by over 20% compared to their levels before the cycle.

What Does This Report Include?

This section will provide insights into the contents included in this drill pipe market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.

Drill pipe market qualitative analysis

  • Industry overview

  • Industry trends

  • Market drivers and restraints

  • Market size

  • Growth prospects

  • Porter’s analysis

  • PESTEL analysis

  • Key market opportunities prioritized

  • Competitive landscape

    • Company overview

    • Financial performance

    • Product benchmarking

    • Latest strategic developments

Drill pipe market quantitative analysis

  • Market size, estimates, and forecast from 2018 to 2030

  • Market estimates and forecast for product segments up to 2030

  • Regional market size and forecast for product segments up to 2030

  • Market estimates and forecast for application segments up to 2030

  • Regional market size and forecast for application segments up to 2030

  • Company financial performance

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