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Drill Pipes Market

Drill Pipes Market

Drill Pipes Market Global Industry Assessment & Forecast

# Pages:

151

Base Year:

2021

Nov - 2021

Format:

Report Code:

VMR-2021-0459

Segments Covered
  • By Application Onshore, Offshore
  • By Grade API, Premium
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: 235 Million
Revenue 2028Revenue 2028: 316.7 Million
Revenue CAGRRevenue CAGR (2022 - 2028): 3.8
Fastest Growing Region Fastest Growing Region (2022 - 2028) North America
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst

Key Insights

The global Drill Pipes market was valued at USD 235 Million in 2020 and is projected to reach USD 316.7 Million by 2028, growing at a CAGR of 3.8% from 2021 to 2028.

Years Parameters
Historical Data (Actual Data) 2016-2020
Base Year Data 2020
Current Year Date 2021
Projected year data 2021-2026
Annual Market Size (2028) 316.7 Million
Annual Market Size (2021)
CAGR (2021 - 2028) 3.8%

Definition And Overview

Drill pipe refers to tube shaped conduit which is made of alloy or composite materials which is fitted on specially made threaded ends, known as tool joints. The end with external thread is known as the male end, and the end with an internal thread is known as the female end. The main purpose of a drill pipe is to provide a connection in the BHA or surface equipment for purposes ofdrilling .


The global Drill Pipes market is segmented based on by Application, Grade, Regions, and Countries. This report provides an analysis of the global Drill Pipes market for the historic period of 2016–2019 and forecasts for 2021–2028 while 2020 is considered as a base year for estimations. The report covers exhaustive analysis on the global Drill Pipes industry, which includes market trends, drivers, restraints, opportunities, segmental analysis, regional trends, and competitive landscape among others. The report provides a detailed study on various product types and their applications in different industry verticals at the global/regional/country level. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. All the segments have been analyzed based on present and future trends. The research study provides complete assessment of the market on the basis of competition, drivers, restraints, opportunities, trends, and industry-authenticated data. The market is estimated from 2016 to 2020 with forecast from 2021 to 2028. 

Yearly Infographics 235 Million 316.7 Million

COVID-19 Impact Analysis

COVID-19 pandemic led to government of numerous countries across the globe to impose stringent lockdown measures during the primary stages. This led to numerous challenges owing to the supply chain. However, the market witnessed steady growth over the later stages as the governments lifted restrictions on construction activities. Impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.


The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

o   Impact Assessment of COVID-19 Pandemic

o   Pre & Post COVID-19 Market Size

o   Qualitative analysis on the short term & long-term impact of COVID-19 on the market

o   The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

Industry Analysis

The rising demand for oil as well as gas supply from industrial use, residential and transportation sectors is major reason driving the market growth. Additionally, drill pipes plays a vital role in oil and gas explorations as they withstand immense heat, stress and load during drilling and completion fluids operations.

The increment in the investments in offshore exploration with the increasing production activities conducted in developed and emerging nations. Various product innovations, like the introduction of drill pipes which can function in places with very high pressure, permafrost, temperatures or with high concentrations of toxic substances like hydrogen sulfide (H2S), are driving the growth of the market.

The high initial costs of materials and low awareness in the consumers is anticipated to hinder the growth of the market in the years to come.

Parameter Details
Market Size Provided for Years 2016-2028
Base Year 2020
Historic Years 2016-2020
Forecast Years 2021-2028
Market Size Provided In Terms Of Revenue & Volume
Segments Covered Application, Grade
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Countries Covered The U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, South East Asia, Brazil, Argentina, GCC Countries, and South Africa, among others
Companies Covered DP Master, Alcoa, Aluminum Drill Pipe, RDT-USA, Superior Drillpipe Manufacturing, National Oilwell Varco, Hunting, Texas Steel Conversion, Tenaris, Kingsland Drill International, Tejas Tubular Products, Vallourec, Drill Pipe International, Hilong Group, TMK.
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Product Analysis Preview

Application Analysis: Preview

On the basis of Application, the market is segmented into Onshore, Offshore. Onshore held the highest share in the global Drill Pipes market and is projected to witness the same trend during the forecast period. Companies in this sector are opting to advanced technologies in their supply chain to cater the end user requirements effectively.

Grade Analysis: Preview

Based on Grade, the market is segmented into API, Premium. API accounted for the highest market share and is expected to grow at a significant CAGR from 2021 to 2028. 

Global Drill Pipes Market: Application Segment Analysis

    • Onshore
    • Offshore

Global Drill Pipes Market: Grade Segment Analysis

    • API
    • Premium

Regional Analysis Preview

Based on region, the global Drill Pipes market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America region led the market with the largest share in 2020. Some of the key countries contributing to the surge in the market are the U.S., U.K., Germany, France, China, India, Japan, and South Korea. Developing economies in the Asia Pacific region such as China and India are expected to make notable contributions in the growth over the coming years. Thus, it is expected that the Drill Pipes market is anticipated to rise over the forecast timespan.

Market Size, 2021 (USD Billion)
North America
Europe
Asia Pacific
South America
Middle East Africa

Global Drill Pipes Market: Regional Analysis

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • France
    • Germany
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East and Africa
    • GCC Countries
    • South Africa
    • Rest of MEA

Competitive Landscape

The market comprises of numerous small, medium, and large sized players spread across various geographies. Some of the main competitors in the global Drill Pipes market are DP Master, Alcoa, Aluminum Drill Pipe, RDT-USA, Superior Drillpipe Manufacturing, National Oilwell Varco, Hunting, Texas Steel Conversion, Tenaris, Kingsland Drill International, Tejas Tubular Products, Vallourec, Drill Pipe International, Hilong Group, TMK.. The report covers company market share analysis which gives a comprehensive overview of the main competitors in the market. In addition, the report also covers major strategies adopted by market players such as new product launch, acquisitions & mergers, partnerships, collaborations & joint ventures, research & development, and regional expansion. The study also covers the product portfolio of major companies operating in the market.

Global Drill Pipes Market: Key Highlights

  • The global Drill Pipes market was valued at USD 235 Million in 2020
  • The global Drill Pipes Market is projected to reach USD 316.7 Million by 2028
  • North America held the highest share of the Drill Pipes market in 2020
  • Some of the major companies operating in the Drill Pipes market are DP Master, Alcoa, Aluminum Drill Pipe, RDT-USA, Superior Drillpipe Manufacturing, National Oilwell Varco, Hunting, Texas Steel Conversion, Tenaris, Kingsland Drill International, Tejas Tubular Products, Vallourec, Drill Pipe International, Hilong Group, TMK.

FAQ
Frequently Asked Question
  • The global Drill Pipes valued at 235 Million in 2020 and is expected to reach 316.7 Million in 2028 growing at a CAGR of 3.8%.

  • The prominent players in the market are DP Master, Alcoa, Aluminum Drill Pipe, RDT-USA, Superior Drillpipe Manufacturing, National Oilwell Varco, Hunting, Texas Steel Conversion, Tenaris, Kingsland Drill International, Tejas Tubular Products, Vallourec, Drill Pipe International, Hilong Group, TMK..

  • The market is project to grow at a CAGR of 3.8% between 2021 and 2028.

  • The driving factors of the Drill Pipes include

    • The rising demand for oil as well as gas supply from industrial use, residential and transportation sectors is major reason driving the market growth. Additionally, drill pipes plays a vital role in oil and gas explorations as they withstand immense heat, stress and load during drilling and completion fluids operations.
    • The increment in the investments in offshore exploration with the increasing production activities conducted in developed and emerging nations. Various product innovations, like the introduction of drill pipes which can function in places with very high pressure, permafrost, temperatures or with high concentrations of toxic substances like hydrogen sulfide (H2S), are driving the growth of the market.

  • North America was the leading regional segment of the Drill Pipes in 2020.