According to a new market report published by Lucintel, the future of the drill pipe market looks promising with opportunities in onshore and offshore sites. The global drill pipe market is expected to grow with a CAGR of 4% from 2020 to 2025. The major drivers for this market are increasing offshore exploration & production activities within countries, such as Norway, Angola, and the US, and growing investments for the development of offshore oilfields.
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A drill pipe is hollow, thin-walled, steel or aluminium alloy piping that is used on drilling rigs. In this market, american petroleum institute (API) grade and premium grade are the major grades of drill pipe. Lucintel forecasts that american petroleum institute (API) grade will remain the largest segment over the forecast period, as this grade has standardization of finished products along with relatively low prices.
Within this market, onshore will remain the largest application segment over the forecast period due to a high rate of rig activities and lower risk than offshore drilling.
North America will remain the largest region over the forecast period due to large investments by major energy & power companies in both conventional and unconventional fields in this region.
National Oilwell Varco, Hilong, Vallourec, and Tenaris are among the major suppliers in the global drill pipe market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global drill pipe market by application, grade, and region. Lucintel has prepared a comprehensive research report titled “Growth Opportunities in the Global Drill Pipe Market 2020-2025: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global drill pipe market by application, grade, and region as follows:
By Application [Value ($ Million) shipment analysis for 2014 – 2025]:
By Grade [Value ($ Million) shipment analysis for 2014 – 2025]:
American Petroleum Institute (API) Grade
Premium Grade
By Region [Value ($ Million) shipment analysis for 2014 – 2025]:
United States
Canada
Mexico
United Kingdom
Spain
Germany
France
This 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or visit us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision makers in a variety of industries. For further information, visit www.lucintel.com.