Drill Pipes Market

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.

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. 

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.

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.

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. 

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.

• 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

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.

• 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.