The Drill Pipe Global Market Report 2023, provides comprehensive information on the drill pipe market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Drill Pipe Global Market Report 2023, the global drill pipe market size is expected to grow from $1.34 billion in 2022 to $1.43 billion in 2023 at a compound annual growth rate (CAGR) of 6.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global drill pipe market size is expected to reach $1.77 billion in 2027 at a CAGR of 5.5%.
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Technological advancements are a key trend gaining popularity in the drill pipe market. Major companies operating in the drill pipe market are adopting new technologies to sustain their position in the market. For instance, in April 2022, Vermeer Corporation, a US-based industrial and agricultural machines manufacturer company launched 550,000-pound (249,475.8-kg) D550 HDD (Horizontal directional drilling), a newest generation of maxi rig drills backed with HDD technology. Horizontal directional drilling (HDD) is a smart drilling technology that involves drilling a tunnel under a canal or other defined region and then pulling a pipeline or other utility through the tunnel. It entails precisely drilling along the selected bore path and back reaming the necessary pipe using a directional drilling machine and related equipment. During HDD drilling, the earth is pushed to one side rather than brought to the surface to prevent spreading soil contamination above ground. Additionally, because the pipe connections are durable, tainted dirt shouldn’t enter the system.
The drill pipe market 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
North America was the largest region in the drill pipe market in 2022.
The table of contents in TBRC’s drill pipe market report includes:
1. Executive Summary
2. Drill Pipe Market Characteristics
3. Drill Pipe Market Trends And Strategies
4. Drill Pipe Market – Macro Economic Scenario
5. Drill Pipe Market Size And Growth
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26. Africa Drill Pipe Market
27. Drill Pipe Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Drill Pipe Market
29. Drill Pipe Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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