The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033.
The Drill Pipe Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Drill Pipe Global Market Report 2024, The drill pipe market size has grown strongly in recent years. It will grow from $1.43 billion in 2023 to $1.52 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to increased oil and gas exploration boom, investments in offshore exploration, environmental and safety regulations, infrastructure development, global economic trends.The drill pipe market size is expected to see strong growth in the next few years. It will grow to $1.88 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%.
The increasing number of rig drilling operations is expected to drive the growth of the drill pipe market. A drilling rig is a comprehensive system used to penetrate the subsurface for various purposes such as creating water or oil wells. Drill pipe, made of steel or aluminum alloy, is a crucial component used in drilling rigs. For example, in February 2023, Baker Hughes Company reported that the number of drilling rigs operating in the US increased to 761 rigs, up by 126 units from the previous year. This upward trend in drilling activity indicates a growing demand for drill pipes, thus propelling the growth of the drill pipe market.
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The drill pipe market covered in this report is segmented –
1) By Type: Standard Drill Pipes, Heavy Weight Drill Pipes, Drill Collars
2) By Material: Alloys, Composites, Other Materials
3) By Application: Offshore, Onshore
4) By Industry: Oil And Gas Industry, Mining Industry, Agriculture Industry, Other Industries
Top Major Players
Hilong Group of Companies Ltd.,
Oil Country Tubular Ltd.,
Texas Steel Conversion Inc.,
Drill Pipe International LLC,
National Oilwell Varco Inc.
The drill pipe market report table of contents includes:
1. Executive Summary
……………
List Of Tables :
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Drill Pipe Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Drill Pipe Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Drill Pipe Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
………..
Table 75: Hilong Group of Companies Ltd. Financial Performance
Table 76: Oil Country Tubular Ltd. Financial Performance
Table 77: Texas Steel Conversion Inc. Financial Performance
Table 78: Drill Pipe International LLC Financial Performance
Table 79: National Oilwell Varco Inc. Financial Performance
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