Drill Pipes: Global Markets to 2022
Drill Pipes: Global Markets to 2022
NEW YORK, May 7, 2018 /PRNewswire/ --
Report Scope:
The report presents an overview of the global market for the drill pipes and analyses of global market trends, with data from the base year 2016, and estimates for 2017 to 2022 with projections of CAGR.
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The report includes discussion of technological, regulatory, and economic trends that affect the market. Further, it explains the major drivers and regional dynamics of the global drill pipes market and current trends within the industry.
The report includes discussion of end use deployment such as onshore and offshore locations, along with the discussion on the grade type in various regions such as North America, Europe, Asia- Pacific, Middle East and Africa and South America.
The report concludes with a special focus on the vendor landscape and includes detailed profiles of the major vendors in the global Drill Pipes market.
Report Includes:
- 24 data tables and 18 additional tables
- A detailed overview and an industry analysis of the drill pipes market within the industry
- Analyses of global market trends, with data from 2016 and 2017, and projections of compound annual growth rates (CAGRs) through 2022
- Information on factors currently driving and restraining the growth of drill pipes market along with opportunities that will affect the future of the market
- Insight into environmental concerns and regulatory issues related to drill pipe market
- Company profiles of the major market players in the market, including Drill Pipe International, Hilong group, Jindal Saw Ltd., National Oilwell Varco, Oil Country Tubular (Octl), Ltd., The Superior Drill Pipe Manufacturing, Inc., United States Steel Corp. and Vallourec S.A
Summary
The drill pipe is a hollow tube made mostly of steel or aluminum, fitted with threaded ends called tool joints.The drill pipe connects the rig equipment at the surface with the bottom hole assembly (BHA) and bit.
The drill pipe pumps drill fluids to the bit, and rotates, raises and lowers the bottom hole assembly.Available in numerous sizes, the drill pipe typically is 30 to 33 feet long.
It provides weight and strength to the well bore.The drill pipe is case hardened to support its own weight when sent a mile long into the earth's surface.
It reduces the fatigue failure of the BHA and the additional weight of the drill bit. For onshore and offshore drilled wells, drill pipes mostly compose drilling strings.
Drill pipes are classified by grades, API (American Petroleum Institute) and premium.The drill location and hole depth determine the grade type that will be used.
API grade drill pipes, which reached $REDACTED billion to lead the market in 2016, are estimated to total nearly $REDACTED billion by 2022 with a compound annual growth rate (CAGR) of about REDACTED%. New hydrocarbon sources (oil, gas and other) is driving the market for API and premium grade drill pipes.
The rise in the global demand for energy has increased conventional oil and gas explorations in deep and ultra-deepwater locations, spurring investments in unconventional resources such as shale, advancement in the drilling technologies and others. However, more government regulations, growing environmental concerns and the cost of high investments will restrain market growth.
Oil prices fell dramatically in 2014 due to the shale gas boom in the United States.To protect its market share and increased the cost of shale production, OPEC (Organization of the Petroleum Exporting Countries) increased their hydrocarbon production.
The global oil and gas markets were in the phase of transition in the last three years (2015 to 2017), where oilfield services were increasingly employed by all major players in the market for enhanced returns.
The onshore (land) deployment of drill pipes totaled nearly $REDACTED billion in 2016 and is estimated to reach $REDACTED billion in 2022 with a CAGR of REDACTED%. The rise in the requirements for the hydrocarbons across various industries around the world is driving the companies to invest in the offshore locations such as deep-water and ultra deepwater locations.
Geographically, North America led the global drill pipes market with a value of $REDACTED million in 2016 and is estimated to reach $REDACTED million by 2022 with a CAGR of about REDACTED%.North America owns the largest market share and fastest growth rate due to the rise in the shale resources.
North America is followed by Middle East and Africa, Asia-Pacific, Europe and South America in descending order in terms of market share
Read the full report: https://www.reportlinker.com/p05389566
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