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Drill Pipe Market Analysis 2023: Market Growth Rate, Competitive Landscape And Top Opportunities
Drill Pipe
The Business Research Company's Drill Pipe Global Market Report 2023 identifies rig drilling operations as the major driver for the Drill Pipe market's growth in the forecast period. A drilling rig is an integrated system that penetrates the subsurface of the ground to create wells, such as water or oil wells, or holes for piling and other building needs. Drill pipe is a type of pipeline used on drilling rigs that is hollow, thin-walled, and made of steel or an aluminum alloy.
the global drill pipe market size is expected to grow from $1.34 billion in 2022 to $1.43 billion in 2023 at a compound annual growth rate (CAGR) of 6.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global drill pipe market size is expected to reach $1.77 billion in 2027 at a CAGR of 5.5%.
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Major competitors in the Drill Pipe market are Hilong Group of Companies Ltd., Oil Country Tubular Ltd, Texas Steel Conversion Inc., Drill Pipe International LLC, NOV Inc, PetroMaterials Corporation.
A key trend in the Drill Pipe market includes technological advancement. Major companies operating in the drill pipe market are adopting new technologies to sustain their position in the market. For instance, in April 2022, Vermeer Corporation, a US-based industrial and agricultural machines manufacturer company launched 550,000-pound (249,475.8-kg) D550 HDD (Horizontal directional drilling), a newest generation of maxi rig drills backed with HDD technology.
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The Drill Pipe market is segmented -
• By Type: Standard Drill Pipes, Heavy Weight Drill Pipes, Drill Collars
• By Material: Alloys, Composites, Other Materials
• By Application: Offshore, Onshore
• By Industry: Oil And Gas Industry, Mining Industry, Agriculture Industry, Other Industries
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Drill Pipe market.
The Business Research Company's "Global Drill Pipe Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Drill Pipe Market Include:
1. Drill Pipe Market Executive Summary
2. Drill Pipe Market Segments
3. Drill Pipe Market Size And Drill Pipe Market Growth Rate
4. Key Drill Pipe Market Trends
5. Major Drill Pipe Market Drivers
……
25. Key Mergers And Acquisitions In The Drill Pipe Market
26. Top Drill Pipe Companies
27. Drill Pipe Market Opportunities And Strategies
28. Drill Pipe Market, Conclusions And Recommendations
29. Appendix
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