Technological advancements
and favorable government initiatives to bolster global drill pipe market growth
through 2024
According to a report published by TechSci Research on “Global Drill Pipe Market By Grade, By
Application, By Region, Competition, Forecast & Opportunities, 2014-2024”, global drill pipe market is projected
to grow at a CAGR of around 4% during the forecast period. The growth the drill
pipe market is majorly attributable to the growing oil & gas exploration
around the world, with the continuous need of meticulous real time data from
the wellbore. Moreover, growing advancements in drilling techniques is further
bolstering the growth of the global drill pipe market.
Browse 115 market data 95 Figures spread
through 110 Pages and an in-depth TOC on " Global
Drill Pipe Market "
In terms of grade, the global drill pipe
market is categorized into API grade and premium grade. Among these, the API
grade category accounted for majority of the global drill pipes market in 2018
and it is anticipated to remain as the largest category throughout the forecast
period as well. The growth of the category is majorly attributable to the fact
that API grade drill pipes are less expensive as compared to the premium grade
drill pipes. However, premium grade drill pipes are expected to grow at a
faster rate than the API grade drill pipes, owing to the increase in deep-water
drilling activities. Also, the premium grade drill pipes are suitable for unfavorable
drilling conditions, such as high pressure, high temperature, corrosive
environment, etc.
In terms of region, the global drill
pipe market is categorized into North America, Europe, Asia-Pacific, South
America and Middle East & Africa. Among the regions, North America
accounted for majority of the global market for drill pipes in 2018 and is
anticipated to maintain its position during forecast period as well. Burgeoning
shale gas exploration and production in the US, has favored the drill pipe
market in the North America.
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“The global drill pipe market is witnessing
growth on account of advancements in drilling technologies such as horizontal
drilling and pad drilling, which have amplified the drilling efficiency and
lessened the drilling rig downtime, thereby enabling faster drilling
operations. This in return will translate into the increased drilling equipment
demand, which includes drill pipe.” said, Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“Global Drill Pipe Market By Grade, By
Application, By Region, Competition, Forecast & Opportunities, 2014-2024” has evaluated the future growth
potential of the global drill pipe market and provides statistics and
information on market size, structure and future market growth. The report intends
to provide cutting-edge market intelligence and help decision makers take sound
investment decisions. Besides, the report also identifies and analyzes the
emerging trends along with essential drivers, challenges and opportunities in
global drill pipe market.
About
TechSci Research
TechSci Research is a leading global
market research firm publishing premium market research reports. Serving 700
global clients with more than 600 premium market research studies, TechSci
Research is serving clients across 11 different industrial verticals. TechSci
Research specializes in research-based consulting assignments in high growth
and emerging markets, leading technologies and niche applications. Our
workforce of more than 100 fulltime Analysts and Consultants employing
innovative research solutions and tracking global and country specific high
growth markets helps TechSci clients to lead rather than follow market trends.
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