Drill Pipe Market Size, Growth, Trends and Forecast to 2027

The drill pipe market size is expected to reach $1,648.2 million in 2027, from $1,284.3 million in 2019, growing at a CAGR of 5.2% from 2020 to 2027. Drill pipe is a thick-walled and hollow piping used for transmission of drilling fluid through the wellbore to the drill bit during rig drilling operation. Drill pipes are seamless steel pipes and are considered as a component of the drill string assembly. It consists of a threaded connection called as "tool joint". Further, drill pipes are manufactured to withstand extreme external and internal pressures exerted by drilling fluids. It is sampled, manufactured, tested, and inspected in accordance with the standard specifications given by the American Petroleum Institute (API). On the basis of API grade, drill pipes are generally distinguished as E grade, X-95, G-105, and S-135. However, drill pipes are also available in premium grades.

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In addition, the Drill Pipe Market   report outlines upstream raw materials, marketing channels, downstream customer surveys, and industry development trends that provide vital information about manufacturing equipment suppliers, major distributors, raw materials suppliers, and major customers.

The Drill Pipe Market   report offers an in-depth study of the market on the basis of various prime parameters including sales, sales analysis, market size, and major driving factors. The study includes Porter's five forces model, financial analysis, portfolio analysis, and business overview of services and products.

In addition, the report offers a SWOT analysis including information regarding driving and restraining factors of the market growth. Such statistical tools provide vital information regarding understanding lucrative opportunities in the market. The report is essential for market players and new industry entrants to devise their strategies and leverage the opportunities in the market.

The Drill Pipe Market   report offers a comprehensive study of the dynamic factors including drivers, restraints, challenges, and opportunities. The drivers and opportunities aid to understand the rapidly changing industry trends and their impact on the growth of the market. In addition, the restraints and challenges help understand profitable market investments. The report includes quantitative and qualitative analyses of the market.

Major market players analyzed in the report:

The report includes a comprehensive study of major market players including are

The 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.

The study of the market players covers the company overview, price analysis, and value chain, along with portfolio analysis of services and products. These players have adopted various strategies such as partnerships, new product launches, joint ventures, and mergers & acquisitions to maintain their foothold in the market.

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Covid-19 scenario:

The global report includes an in-depth analysis of the impact of the Covid-19 pandemic on the market. Moreover, it helps the frontrunners in the industry to devise new strategies to gain a competitive edge over other companies and how to deal with sudden changes in value and supply chain without compromising the credibility of the business.

The report provides a study of the past and current market trends and evaluates the future opportunities. The Drill Pipe Market   study focuses on the market trends and upcoming opportunities that help understand the driving factors of the market. In addition, the report offers granular, robust, and qualitative data.

The report includes a brief summary of the market along with a SWOT analysis of the major market players and their financial analysis. The report covers a business overview and portfolio analysis of services that major companies offer. The study analyzes the recent market developments such as expansion, joint ventures, and product launches. Moreover, the study aids new business entrants and stakeholders to understand the long-term profitability of the market.

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