Drill Pipe Market Analytical Overview, Growth Factors, Demand and Trends Forecast to 2024
Category: #reports  By Partha Ray  Date: 2019-01-11
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Drill Pipe Market Analytical Overview, Growth Factors, Demand and Trends Forecast to 2024

A comprehensive research study titled ‘Drill Pipe Market’ introduced by Market Study Report provides insights into the market size and growth trends of this industry over the forecast timeline. The study evaluates key aspects of Drill Pipe Market in terms of the demand landscape, driving factors and growth strategies adopted by market players.  

Eminent industry players in the drill pipe market include E&M Supply Group, Tenaris, Vallourec, DP-Master Manufacturing, Premier Drill Products, TMK Group, Ferrostaal Piping Supply, Texas Steel Conversion, Oil Country Tubular Limited, Holly Pipe Corporation, RK Pipe & Supply and Hilong Group.

Offshore drill pipe market is predicted to expand over 8% by 2024. Technological enhancements to effectively explore deep-water & ultra-deep-water reserves across different geographical terrains at optimum cost will stimulate the business growth. Favorable regulative policies to improve domestic production from untapped reserves will further drive the product deployment.

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Implementation of advanced techniques for crude production including hydraulic drilling in combination with horizontal drilling will drive the drill pipe market. Furthermore, ongoing E&P of unconventional resources will fuel the business growth. According to the Energy Information Administration, tight oil is anticipated to be the prime source of the U.S. oil production accounting for around 70% of the overall output by 2040.

Global Drill Pipe Market is predicted to exceed USD 1 Billion by 2024. Ongoing government ventures to increase crude oil production along with rising investments in upstream sector will propel the product penetration. Increasing primary energy consumption coupled with stabilizing crude prices will further propel the business landscape. For instance, according to the EIAs Annual Energy Outlook 2018, the U.S. NG consumption across the industrial sector is set to increase by 39% from 25.9 Bcf/d in 2017 to 36.1 Bcf/d by 2050.

Premium drill pipe market will witness robust growth on account of the product?s aptness for the exploration of deep & ultra-deep-water reservoirs coupled with the ability of these products to function efficiently across difficult geographical regions. API grade drill pipes are favored when compared to premium grade across onshore owing to their cost effectiveness.

Ongoing capital expenditure from independent players along with increasing exploration of unconventional wells will propel the U.S. drill pipe market. As per the U.S. EIA, 44 onshore companies have increased their capital expenditure by 72% between 2015 & 2016 in the country. Moreover, availability of recoverable shale O&G reserves will further drive the product adoption.

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Increasing count of upstream projects across the Amazon region will fuel the LATAM drill pipe market. In 2016, Petroamazonas signed an accord worth about USD 1 billion to increase production output by approx. 30 thousand bbl/day in 2018 and to extract 84.6 MMbbl of crude from incremental reserves.

Table of Content:

Chapter 1    Methodology & Scope

Chapter 2    Executive Summary

Chapter 3    Drill Pipe Industry Insights

Chapter 4     Drill Pipe Market, By Product

Chapter 5     Drill Pipe Market, By Application

Chapter 6      Drill Pipe Market, By Region

Chapter 7 Company Profiles

More Details on this Report At: https://www.marketstudyreport.com/reports/drill-pipe-market

Related Report:

United States Drill Pipe Market Report 2017

In this report, the United States Drill Pipe market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022.

https://www.marketstudyreport.com/reports/united-states-drill-pipe-market-report-2017/?utm_source=RR-PSR

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About Author

Partha Ray

Email: partha.r@news.marketsizeforecasters.com   

Partha Ray

Partha is into digital marketing since the last 3 years and has worked on multiple projects across various industries. An Computer Science engineer by education, he has prior experience in software development. His other interests include playing cricket & Hockey.

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