Drill Pipe Market Growth Analysis On Top Key Players - Holly Pipe Corporation, RK Pipe & Supply and Hilong Group, E&M Supply Group, Tenaris

Global Drill Pipe Market Size, Status and Forecast 2024 provides Market information about Manufacturers, Countries, Type and Application. This Industry report also states Company Profile, sales, Drill Pipe Market revenue and price, market share, market growth and gross margin by regions.

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.

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Saudi Arabia drill pipe market is predicted to grow over 10% by 2024. Crude oil production targets set by the government along with rising onshore rig count will propel the product demand. For instance, in 2018, Saudi Aramco signed a contract with the National Oilwell Varco based in the U.S. for the manufacture of onshore rigs and other drilling equipment.

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.

This Report Focusing on Following Key Manufactures By Primary & Secondary Research - Oil Country Tubular Limited, Holly Pipe Corporation, RK Pipe & Supply and Hilong Group, E&M Supply Group, Tenaris, Vallourec, DP-Master Manufacturing, Premier Drill Products, TMK Group, Ferrostaal Piping Supply, Texas Steel Conversion

China has been rapidly working to cut down on its CO2 emission rate and concentrating on the exploration of cleaner natural gas, thus contributing toward drill pipe market revenue. As the demand for natural gas has been on a rise in the country, China has been fulfilling the demand with increased imports and has recently surpassed Japan to become the largest importer of natural gas in the world.

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.

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 EIA's 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.

A marked upsurge in offshore oil and gas exploration in North America is expected to drive the drill pipe industry in this region which will be further fueled by augmentation in oil production technologies and expertise. Though global endeavors for the reduction of fossil fuel use and increasing the use of renewable energy resources are on the rise, it is estimated that as the population of the planet expands, every source of energy will become essential. Offshore deposits of fossil fuel are larger than onshore ones – consequently, offshore gas and oil exploration will act as a pivotal driver to the growth of drill pipe market.

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At present China has undertaken the construction of a massive pipeline being dubbed as the Power of Siberia. Its is being estimated that the pipeline, on completion will deliver over 60 billion cubic meters of gas per year to China from Russia. While the parties are already negotiating the construction of an equivalent parallel pipeline,

it is imperative to mention that such developments clearly indicate the potential China holds for drill pipe market.
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, By Application,
Chapter 4. Drill Pipe Industry Insights, By Product
Chapter 5. Competitive Landscape
Chapter 6. Global Drill Pipe Market

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