Product Code: A10171
The drill pipe market size was valued at $1,303.1 million in 2021, and is projected to reach $2,212.5 million by 2031, registering a CAGR of 5.4% from 2022 to 2031.
Drill pipe also known as drill rode or drill tube, is a seamless steel pipe used to transfer drilling fluid through a wellbore to the drill bit during rig drilling. There are two types of drill pipes: namely, standard drill pipe and heavy weight drill pipe (HWDP). Drill pipes are manufactured, sampled, inspected, and tested in accordance with the American Petroleum Institute (API) standards, under which drill pipes are classified in to grades such as E, X-95, G-105, and S-135. However, it is also available in premium grades, which are not included in the API standards.
Rise in popularity of horizontal drilling used for small-sized rigs, utilities, and pipeline installation, is expected to boost demand for drill pipes. Increase in focus on environmental regulations propels the need for sustainable drilling techniques. Moreover, rise in government investments on new exploration and drilling projects in the oil & gas industry, which is expected to drive growth of the global drill pipe market.
However, fluctuations in raw material prices have a negative impact on the market. Political instability in countries such as Latin America and the U.S. and trade war in China has affected the oil & gas projects and industries. Hence, such factors hamper the market growth. .
Rise in demand for oil & gas and fossil fuels, owing to growth in population and supportive government policies for increasing oil output in various countries including China, the U.S., India, and Russia boosts growth of oil processing & extraction activities. According to the International Energy Agency (IEA), global investments in upstream oil & gas activities increased by 5% from 2017 to 2018 and by 2% from 2018 to 2019. In 2021 and 2022, this spending is expected to increase significantly , which would boost growth of the drill pipe market.
The drill pipe market is segmented on the basis of type, grade, application, and region. Depending on type, the market is classified into standard drill pipe and heavy weight drill pipe (HWDP). According to grade, it is categorized into API grade and premium grade. On the basis of application, it is classified into offshore and onshore. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Russia, UK, Norway, and rest of Europe), Asia-Pacific (China, India, Indonesia, and rest of Asia-Pacific), and LAMEA (Saudi Arabia, the UAE, Brazil, Colombia, and rest of LAMEA). North America is expected to hold the largest market share. However, Asia-Pacific is expected to grow at the fastest rate throughout the forecast period.
Competition Analysis
Key market players profiled in the report include Hilong Group of Companies, Jindal Saw Ltd. (Drill Pipes International LLC), NOV Inc., Oil Country Tubular Ltd., PetroMaterials Corporation, Tejas Tubular Products, Inc., Tenaris S.A., Texas Steel Conversion, Inc., TMK Steel Limited, and Weatherock Group Holding Limited.
Key Benefits For Stakeholders
- The report provides an extensive analysis of the current and emerging global drill pipe market trends and dynamics.
- In-depth analysis of the market is conducted by constructing market estimations for key market segments between 2022 and 2031.
- Extensive analysis of the market is conducted by following key product positioning and monitoring of top competitors within the market framework.
- A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
- The global drill pipe market forecast analysis from 2022 to 2031 is included in the report.
- Key players in the market are profiled in this report and their strategies are analyzed thoroughly, which helps to understand the competitive outlook of the drill pipe industry.
Key Market Segments
By Type
- Standard drill pipe
- Heavy weight drill pipe (HWDP)
By Grade
By Application
By Region
- North America
- Europe
- Norway
- U.K.
- Russia
- Rest of Europe
- Asia-Pacific
- China
- India
- Indonesia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
- Key Market Players
- hilong group of companies
- Jindal Saw Ltd. (Drill Pipes International LLC)
- NOV Inc.
- Oil Country Tubular Ltd.
- PetroMaterials Corporation
- Tejas Tubular Products, Inc.
- Tenaris S.A.
- TEXAS STEEL CONVERSION, INC.
- TMK Steel Limited
- WEATHEROCK GROUP HOLDING LIMITED
TABLE OF CONTENTS
CHAPTER 1:INTRODUCTION
- 1.1.Report description
- 1.2.Key market segments
- 1.3.Key benefits to the stakeholders
- 1.4.Research Methodology
- 1.4.1.Secondary research
- 1.4.2.Primary research
- 1.4.3.Analyst tools and models
CHAPTER 2:EXECUTIVE SUMMARY
- 2.1.Key findings of the study
- 2.2.CXO Perspective
CHAPTER 3:MARKET OVERVIEW
- 3.1.Market definition and scope
- 3.2.Key findings
- 3.2.1.Top investment pockets
- 3.3.Porter's five forces analysis
- 3.4.Top player positioning
- 3.5.Market dynamics
- 3.5.1.Drivers
- 3.5.2.Restraints
- 3.5.3.Opportunities
- 3.6.COVID-19 Impact Analysis on the market
CHAPTER 4: DRILL PIPE MARKET, BY TYPE
- 4.1 Overview
- 4.1.1 Market size and forecast
- 4.2 Standard drill pipe
- 4.2.1 Key market trends, growth factors and opportunities
- 4.2.2 Market size and forecast, by region
- 4.2.3 Market analysis by country
- 4.3 Heavy weight drill pipe (HWDP)
- 4.3.1 Key market trends, growth factors and opportunities
- 4.3.2 Market size and forecast, by region
- 4.3.3 Market analysis by country
CHAPTER 5: DRILL PIPE MARKET, BY GRADE
- 5.1 Overview
- 5.1.1 Market size and forecast
- 5.2 API
- 5.2.1 Key market trends, growth factors and opportunities
- 5.2.2 Market size and forecast, by region
- 5.2.3 Market analysis by country
- 5.3 Premium
- 5.3.1 Key market trends, growth factors and opportunities
- 5.3.2 Market size and forecast, by region
- 5.3.3 Market analysis by country
CHAPTER 6: DRILL PIPE MARKET, BY APPLICATION
- 6.1 Overview
- 6.1.1 Market size and forecast
- 6.2 Offshore
- 6.2.1 Key market trends, growth factors and opportunities
- 6.2.2 Market size and forecast, by region
- 6.2.3 Market analysis by country
- 6.3 Onshore
- 6.3.1 Key market trends, growth factors and opportunities
- 6.3.2 Market size and forecast, by region
- 6.3.3 Market analysis by country
CHAPTER 7: DRILL PIPE MARKET, BY REGION
- 7.1 Overview
- 7.1.1 Market size and forecast
- 7.2 North America
- 7.2.1 Key trends and opportunities
- 7.2.2 North America Market size and forecast, by Type
- 7.2.3 North America Market size and forecast, by Grade
- 7.2.4 North America Market size and forecast, by Application
- 7.2.5 North America Market size and forecast, by country
- 7.2.5.1 U.S.
- 7.2.5.1.1 Market size and forecast, by Type
- 7.2.5.1.2 Market size and forecast, by Grade
- 7.2.5.1.3 Market size and forecast, by Application
- 7.2.5.2 Canada
- 7.2.5.2.1 Market size and forecast, by Type
- 7.2.5.2.2 Market size and forecast, by Grade
- 7.2.5.2.3 Market size and forecast, by Application
- 7.2.5.3 Mexico
- 7.2.5.3.1 Market size and forecast, by Type
- 7.2.5.3.2 Market size and forecast, by Grade
- 7.2.5.3.3 Market size and forecast, by Application
- 7.3 Europe
- 7.3.1 Key trends and opportunities
- 7.3.2 Europe Market size and forecast, by Type
- 7.3.3 Europe Market size and forecast, by Grade
- 7.3.4 Europe Market size and forecast, by Application
- 7.3.5 Europe Market size and forecast, by country
- 7.3.5.1 Norway
- 7.3.5.1.1 Market size and forecast, by Type
- 7.3.5.1.2 Market size and forecast, by Grade
- 7.3.5.1.3 Market size and forecast, by Application
- 7.3.5.2 U.K.
- 7.3.5.2.1 Market size and forecast, by Type
- 7.3.5.2.2 Market size and forecast, by Grade
- 7.3.5.2.3 Market size and forecast, by Application
- 7.3.5.3 Russia
- 7.3.5.3.1 Market size and forecast, by Type
- 7.3.5.3.2 Market size and forecast, by Grade
- 7.3.5.3.3 Market size and forecast, by Application
- 7.3.5.4 Rest of Europe
- 7.3.5.4.1 Market size and forecast, by Type
- 7.3.5.4.2 Market size and forecast, by Grade
- 7.3.5.4.3 Market size and forecast, by Application
- 7.4 Asia-Pacific
- 7.4.1 Key trends and opportunities
- 7.4.2 Asia-Pacific Market size and forecast, by Type
- 7.4.3 Asia-Pacific Market size and forecast, by Grade
- 7.4.4 Asia-Pacific Market size and forecast, by Application
- 7.4.5 Asia-Pacific Market size and forecast, by country
- 7.4.5.1 China
- 7.4.5.1.1 Market size and forecast, by Type
- 7.4.5.1.2 Market size and forecast, by Grade
- 7.4.5.1.3 Market size and forecast, by Application
- 7.4.5.2 India
- 7.4.5.2.1 Market size and forecast, by Type
- 7.4.5.2.2 Market size and forecast, by Grade
- 7.4.5.2.3 Market size and forecast, by Application
- 7.4.5.3 Indonesia
- 7.4.5.3.1 Market size and forecast, by Type
- 7.4.5.3.2 Market size and forecast, by Grade
- 7.4.5.3.3 Market size and forecast, by Application
- 7.4.5.4 Rest of Asia-Pacific
- 7.4.5.4.1 Market size and forecast, by Type
- 7.4.5.4.2 Market size and forecast, by Grade
- 7.4.5.4.3 Market size and forecast, by Application
- 7.5 LAMEA
- 7.5.1 Key trends and opportunities
- 7.5.2 LAMEA Market size and forecast, by Type
- 7.5.3 LAMEA Market size and forecast, by Grade
- 7.5.4 LAMEA Market size and forecast, by Application
- 7.5.5 LAMEA Market size and forecast, by country
- 7.5.5.1 Latin America
- 7.5.5.1.1 Market size and forecast, by Type
- 7.5.5.1.2 Market size and forecast, by Grade
- 7.5.5.1.3 Market size and forecast, by Application
- 7.5.5.2 Middle East
- 7.5.5.2.1 Market size and forecast, by Type
- 7.5.5.2.2 Market size and forecast, by Grade
- 7.5.5.2.3 Market size and forecast, by Application
- 7.5.5.3 Africa
- 7.5.5.3.1 Market size and forecast, by Type
- 7.5.5.3.2 Market size and forecast, by Grade
- 7.5.5.3.3 Market size and forecast, by Application
CHAPTER 8: COMPANY LANDSCAPE
- 8.1. Introduction
- 8.2. Top winning strategies
- 8.3. Product Mapping of Top 10 Player
- 8.4. Competitive Dashboard
- 8.5. Competitive Heatmap
- 8.6. Key developments
CHAPTER 9: COMPANY PROFILES
- 9.1 hilong group of companies
- 9.1.1 Company overview
- 9.1.2 Company snapshot
- 9.1.3 Operating business segments
- 9.1.4 Product portfolio
- 9.1.5 Business performance
- 9.1.6 Key strategic moves and developments
- 9.2 Jindal Saw Ltd. (Drill Pipes International LLC)
- 9.2.1 Company overview
- 9.2.2 Company snapshot
- 9.2.3 Operating business segments
- 9.2.4 Product portfolio
- 9.2.5 Business performance
- 9.2.6 Key strategic moves and developments
- 9.3 NOV Inc.
- 9.3.1 Company overview
- 9.3.2 Company snapshot
- 9.3.3 Operating business segments
- 9.3.4 Product portfolio
- 9.3.5 Business performance
- 9.3.6 Key strategic moves and developments
- 9.4 Oil Country Tubular Ltd.
- 9.4.1 Company overview
- 9.4.2 Company snapshot
- 9.4.3 Operating business segments
- 9.4.4 Product portfolio
- 9.4.5 Business performance
- 9.4.6 Key strategic moves and developments
- 9.5 PetroMaterials Corporation
- 9.5.1 Company overview
- 9.5.2 Company snapshot
- 9.5.3 Operating business segments
- 9.5.4 Product portfolio
- 9.5.5 Business performance
- 9.5.6 Key strategic moves and developments
- 9.6 Tejas Tubular Products, Inc.
- 9.6.1 Company overview
- 9.6.2 Company snapshot
- 9.6.3 Operating business segments
- 9.6.4 Product portfolio
- 9.6.5 Business performance
- 9.6.6 Key strategic moves and developments
- 9.7 Tenaris S.A.
- 9.7.1 Company overview
- 9.7.2 Company snapshot
- 9.7.3 Operating business segments
- 9.7.4 Product portfolio
- 9.7.5 Business performance
- 9.7.6 Key strategic moves and developments
- 9.8 TEXAS STEEL CONVERSION, INC.
- 9.8.1 Company overview
- 9.8.2 Company snapshot
- 9.8.3 Operating business segments
- 9.8.4 Product portfolio
- 9.8.5 Business performance
- 9.8.6 Key strategic moves and developments
- 9.9 TMK Steel Limited
- 9.9.1 Company overview
- 9.9.2 Company snapshot
- 9.9.3 Operating business segments
- 9.9.4 Product portfolio
- 9.9.5 Business performance
- 9.9.6 Key strategic moves and developments
- 9.10 WEATHEROCK GROUP HOLDING LIMITED
- 9.10.1 Company overview
- 9.10.2 Company snapshot
- 9.10.3 Operating business segments
- 9.10.4 Product portfolio
- 9.10.5 Business performance
- 9.10.6 Key strategic moves and developments