North America and South America Drill Pipe Market Segmentation, Future Trends, Growth Overview, Key Companies Till Forecast 2028

North America and South America Drill Pipe Market is expected to grow from US$ 554.75 million in 2021 to US$ 737.4 million by 2028 with a CAGR of 4.1% from 2021 to 2028.

The rising adoption of innovative technologies such as robotics in offshore and onshore drilling activities is driving the market. Moreover, advancements in automation drilling technologies are increasing the efficiency of exploration and production activities at oil rigs and subsequently bolstering the demand for drill pipes. Robotic drilling machines automate the repetitive and risky tasks of connecting drill pipes as they are shoved through miles of ocean water and oil-bearing rocks. This automation improves the work efficiency and reduces downtime and operating cost for the drilling companies along with improved safety for workers at oil rigs. For instance, in June 2019, BP Alaska implemented drilling automation technology at its Parker Drilling's Arctic Alaska Drilling Unit (AADU), Rig 272. The drilling automation system provided the company with an improved drilling-speed-focused automation business model of the downturn. BP Alaska saved approximately 4 min per intermediate hole-section connection and 2 min per production hole-section connection. In addition, automated robotic machines application includes remotely operated aerial drones, automated underwater vehicles, and robotic drills at oil rig sites.

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Top Key Players Listed in the North America and South America Drill Pipe Market 2021 - 2028 Report Are:

TMK Group;
National Oilwell Varco, Inc.
DP-Master Onshore (S) Pte Ltd.
Drill Pipe International, LLC
Premier Drill Products, LLC
Shanghai Hilong Drill Pipe Co., Ltd.
Tejas Tubular Products, Inc
Texas Steel Conversion, Inc
Hunting PLC
Universal HDD Company
In this report, the market has been segmented on the basis of:

Strategic Insights

The players operating in the drill pipe market focus on strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:

In March 2021, TMK signed an agreement with the largest oil and gas company in Uzbekistan-JSC Uzbekneftegaz. Through this agreement, both companies intend to work jointly on oil and gas exploration projects in the Republic of Uzbekistan.
In December 2020, NOV, Inc., launched H2Shield, a new drill pipe for deep wells in sour environments.
Drill Pipe Market - by Product

API Grade
Premium Grade
Drill Pipe Market - by Application

Onshore
Offshore
Drill Pipe Market - by Region

North America
US
Canada
Mexico
South & Central America
Brazil
Argentina

The North America and South America Drill Pipe Market 2021 - 2028 Competitive Viewpoint:

This analysis is a useful resource for investors, shareholders, industry planners, and new and existing businesses trying to broaden their reach within the current Market situation. While focusing on top companies and their corporate strategies, market presence, operative segmentation, aggressive outlook, geographical growth, pricing and price structures, the study painstakingly takes into consideration the market analysis.

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• The latest developments within the North America and South America Drill Pipe market and details of the industry leaders alongside their market share and methods.
• It looks into vital developments like extensions, agreements, new product launches, and acquisitions on the horizon.
• Analysis the market's potential, preferred position, opportunity, difficulty, restrictions, and hazards on a world and regional level.

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