Product Code: GVR-1-68038-130-6
Drill Pipe Market Growth & Trends:
The global drill pipe market size is projected to reach USD 2,895.2 million by 2030, registering a CAGR of 3.9% over the forecast period, according to a new report by Grand View Research, Inc. Significant oilfield expansions particularly in North America and the Middle East along with improving drilling techniques with enhanced productivity have been the key factors steering industry growth over the past few years.
The global drilling activity has been steadily increasing in recent years, particularly in emerging markets. This increased drilling activity has led to higher demand for drill pipes. Moreover, Technological advancements in drilling equipment have led to the development of more efficient and effective drilling processes, which in turn has increased the demand for higher quality and more durable drill pipes.
API grade drill pipes dominated the global drill pipes market in the grade segment and accounted for more than 63.0% overall revenue share in 2022. API (American Petroleum Institute) grade drill pipes have dominated the global drill pipe market due to several factors, including their standardized design, high quality, and reliability. The API has established a set of standards for drill pipes that ensures that they meet certain specifications for size, weight, strength, and other factors. This standardization has made it easier for manufacturers to produce drill pipes that meet the needs of drilling contractors and oil and gas companies around the world.
Onshore segment dominated the application segment for the global drill pipes market and accounted for the largest revenue share of more than 60.0% in 2022. Onshore drilling is generally less expensive and easier to access than offshore drilling, which requires specialized equipment and transportation. As a result, onshore drilling is more common and widespread than offshore drilling, and thus the onshore segment has dominated the application segment for the global drill pipes market.
Drill pipes are an essential component in onshore drilling operations, and are used to transmit drilling fluid, torque, and weight to the drill bit during the drilling process. They are designed to withstand high stress and pressure, and are subject to wear and tear over time. As onshore drilling activity has increased over the years, the demand for drill pipes has grown, driving the growth of the market.
North America dominated the regional segment and accounted for the overall revenue share of more than 26.0% in 2022. North America has dominated the regional segment of the drill pipes market due to several factors, including the presence of a large number of oil and gas reserves, a well-developed oil and gas industry, and advanced drilling technologies. The United States and Canada are major players in the global oil and gas industry, with significant reserves of both conventional and unconventional oil and gas. The development of unconventional resources, such as shale gas and tight oil, has been a major driver of drilling activity in North America, leading to a surge in demand for drill pipes.
In addition, North America has a well-established infrastructure to support drilling operations, including a vast network of pipelines, storage facilities, and refineries. This infrastructure enables the efficient transportation and processing of oil and gas, further driving the demand for drill pipes. Furthermore, North America is home to some of the world's leading drilling technology companies, which have developed advanced drilling technologies and equipment, including high-quality drill pipes. This has enabled drilling companies in the region to adopt innovative drilling techniques and improve drilling efficiency, further boosting the demand for drill pipes.
Drill Pipe Market Report Highlights:
- API grade drill pipes dominated the global drill pipes market in the grade segment and accounted for more than 63.0% overall revenue share in 2023. API (American Petroleum Institute) grade drill pipes have dominated the global drill pipe market due to several factors, including their standardized design, high quality, and reliability.
- Onshore segment dominated the application segment for the global drill pipes market and accounted for the largest revenue share of more than 60.0% in 2023. Onshore drilling is generally less expensive and easier to access than offshore drilling, which requires specialized equipment and transportation. As a result, onshore drilling is more common and widespread than offshore drilling, and thus the onshore segment has dominated the application segment for the global drill pipes market.
- North America dominated the regional segment and accounted for the overall revenue share of more than 26.1% in 2023. North America has dominated the regional segment of the drill pipes market due to several factors, including the presence of a large number of oil and gas reserves, a well-developed oil and gas industry, and advanced drilling technologies
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Scope & Assumptions
- 1.3. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Drill pipes - Industry Summary and Key Buying Criteria, 2018 - 2030
Chapter 3. Drill Pipes Industry Outlook
- 3.1. Drill pipe market segmentation
- 3.2. Drill pipe market size and growth prospects, 2018 - 2030
- 3.3. Drill pipe market - Value chain analysis
- 3.4. Regulatory framework
- 3.5. Recent developments
- 3.5.1. R&D initiatives
- 3.5.2. New grade development
- 3.6. Technology outlook
- 3.7. Production cost analysis
- 3.8. Key buyer trends
- 3.9. Drill pipe market dynamics
- 3.9.1. Market driver analysis
- 3.9.2. Market restraint analysis
- 3.10. Key market opportunities - Prioritized
- 3.11. Industry Analysis - Porter's
- 3.12. Drill pipe market PESTEL analysis
Chapter 4. Drill Pipes Grade Outlook
- 4.1. Global drill pipe market share by grade, 2023 & 2030
- 4.2. Api Grade
- 4.2.1. Market estimates and forecast, 2018 - 2030
- 4.2.2. Market estimates and forecast by region, 2018 - 2030
- 4.3. Premium Grade
- 4.3.1. Market estimates and forecast, 2018 - 2030
- 4.3.2. Market estimates and forecast by region, 2018 - 2030
Chapter 5. Drill Pipes Application Outlook
- 5.1. Global drill pipe market share by application, 2023 & 2030
- 5.2. Onshore
- 5.2.1. Market estimates and forecast, 2018 - 2030
- 5.2.2. Market estimates and forecast by region, 2018 - 2030
- 5.3. Offshore
- 5.3.1. Market estimates and forecast, 2018 - 2030
- 5.3.2. Market estimates and forecast by region, 2018 - 2030
Chapter 6. Drill Pipes Regional Outlook
- 6.1. Global drill pipe market share by region, 2023 & 2030
- 6.2. North America
- 6.2.1. Market estimates and forecast, 2018 - 2030
- 6.2.2. Market estimates and forecast by grade, 2018 - 2030
- 6.2.3. Market estimates and forecast by application, 2018 - 2030
- 6.2.4. U.S.
- 6.2.4.1. Market estimates and forecast, 2018 - 2030
- 6.2.4.2. Market estimates and forecast by grade, 2018 - 2030
- 6.2.4.3. Market estimates and forecast by application, 2018 - 2030
- 6.2.5. Canada
- 6.2.5.1. Market estimates and forecast, 2018 - 2030
- 6.2.5.2. Market estimates and forecast by grade, 2018 - 2030
- 6.2.5.3. Market estimates and forecast by application, 2018 - 2030
- 6.2.6. Mexico
- 6.2.6.1. Market estimates and forecast, 2018 - 2030
- 6.2.6.2. Market estimates and forecast by grade, 2018 - 2030
- 6.2.6.3. Market estimates and forecast by application, 2018 - 2030
- 6.3. Europe
- 6.3.1. Market estimates and forecast, 2018 - 2030
- 6.3.2. Market estimates and forecast by grade, 2018 - 2030
- 6.3.3. Market estimates and forecast by application, 2018 - 2030
- 6.3.4. UK
- 6.3.4.1. Market estimates and forecast, 2018 - 2030
- 6.3.4.2. Market estimates and forecast by grade, 2018 - 2030
- 6.3.4.3. Market estimates and forecast by application, 2018 - 2030
- 6.3.5. Russia
- 6.3.5.1. Market estimates and forecast, 2018 - 2030
- 6.3.5.2. Market estimates and forecast by grade, 2018 - 2030
- 6.3.5.3. Market estimates and forecast by application, 2018 - 2030
- 6.3.6. Norway
- 6.3.6.1. Market estimates and forecast, 2018 - 2030
- 6.3.6.2. Market estimates and forecast by grade, 2018 - 2030
- 6.3.6.3. Market estimates and forecast by application, 2018 - 2030
- 6.4. Asia Pacific
- 6.4.1. Market estimates and forecast, 2018 - 2030
- 6.4.2. Market estimates and forecast by grade, 2018 - 2030
- 6.4.3. Market estimates and forecast by application, 2018 - 2030
- 6.4.4. China
- 6.4.4.1. Market estimates and forecast, 2018 - 2030
- 6.4.4.2. Market estimates and forecast by grade, 2018 - 2030
- 6.4.4.3. Market estimates and forecast by application, 2018 - 2030
- 6.4.5. India
- 6.4.5.1. Market estimates and forecast, 2018 - 2030
- 6.4.5.2. Market estimates and forecast by grade, 2018 - 2030
- 6.4.5.3. Market estimates and forecast by application, 2018 - 2030
- 6.4.6. Indonesia
- 6.4.6.1. Market estimates and forecast, 2018 - 2030
- 6.4.6.2. Market estimates and forecast by grade, 2018 - 2030
- 6.4.6.3. Market estimates and forecast by application, 2018 - 2030
- 6.5. Central & South America
- 6.5.1. Market estimates and forecast, 2018 - 2030
- 6.5.2. Market estimates and forecast by grade, 2018 - 2030
- 6.5.3. Market estimates and forecast by application, 2018 - 2030
- 6.5.4. Brazil
- 6.5.4.1. Market estimates and forecast, 2018 - 2030
- 6.5.4.2. Market estimates and forecast by grade, 2018 - 2030
- 6.5.4.3. Market estimates and forecast by application, 2018 - 2030
- 6.5.5. Argentina
- 6.5.5.1. Market estimates and forecast, 2018 - 2030
- 6.5.5.2. Market estimates and forecast by grade, 2018 - 2030
- 6.5.5.3. Market estimates and forecast by application, 2018 - 2030
- 6.5.6. Venezuela
- 6.5.6.1. Market estimates and forecast, 2018 - 2030
- 6.5.6.2. Market estimates and forecast by grade, 2018 - 2030
- 6.5.6.3. Market estimates and forecast by application, 2018 - 2030
- 6.6. Middle East
- 6.6.1. Market estimates and forecast, 2018 - 2030
- 6.6.2. Market estimates and forecast by grade, 2018 - 2030
- 6.6.3. Market estimates and forecast by application, 2018 - 2030
- 6.6.4. Saudi Arabia
- 6.6.4.1. Market estimates and forecast, 2018 - 2030
- 6.6.4.2. Market estimates and forecast by grade, 2018 - 2030
- 6.6.4.3. Market estimates and forecast by application, 2018 - 2030
- 6.6.5. UAE
- 6.6.5.1. Market estimates and forecast, 2018 - 2030
- 6.6.5.2. Market estimates and forecast by grade, 2018 - 2030
- 6.6.5.3. Market estimates and forecast by application, 2018 - 2030
- 6.6.6. Qatar
- 6.6.6.1. Market estimates and forecast, 2018 - 2030
- 6.6.6.2. Market estimates and forecast by grade, 2018 - 2030
- 6.6.6.3. Market estimates and forecast by application, 2018 - 2030
- 6.6.7. Kuwait
- 6.6.7.1. Market estimates and forecast, 2018 - 2030
- 6.6.7.2. Market estimates and forecast by grade, 2018 - 2030
- 6.6.7.3. Market estimates and forecast by application, 2018 - 2030
- 6.7. Africa
- 6.7.1. Market estimates and forecast, 2018 - 2030
- 6.7.2. Market estimates and forecast by grade, 2018 - 2030
- 6.7.3. Market estimates and forecast by application, 2018 - 2030
Chapter 7. Competitive Landscape
- 7.1. Competitive heat map analysis
- 7.2. Vendor landscape
- 7.3. Competitive environment
Chapter 8. Competitive Profile
- 8.1. Hilong Group
- 8.1.1. Company Overview
- 8.1.2. Financial Performance
- 8.1.3. Grade Benchmarking
- 8.1.4. Strategic Initiatives
- 8.2. National Oilwell Varco
- 8.2.1. Company Overview
- 8.2.2. Financial Performance
- 8.2.3. Grade Benchmarking
- 8.2.4. Strategic Initiatives
- 8.3. Tenaris S.A.
- 8.3.1. Company Overview
- 8.3.2. Financial Performance
- 8.3.3. Grade Benchmarking
- 8.3.4. Strategic Initiatives
- 8.4. Vallourec S.A.
- 8.4.1. Company Overview
- 8.4.2. Financial Performance
- 8.4.3. Grade Benchmarking
- 8.4.4. Strategic Initiatives
- 8.5. TMK Group
- 8.5.1. Company Overview
- 8.5.2. Financial Performance
- 8.5.3. Grade Benchmarking
- 8.5.4. Strategic Initiatives
- 8.6. Oil Country Tubular Limited
- 8.6.1. Company Overview
- 8.6.2. Financial Performance
- 8.6.3. Grade Benchmarking
- 8.6.4. Strategic Initiatives
- 8.7. Tejas Tubular Grades Inc.
- 8.7.1. Company Overview
- 8.7.2. Financial Performance
- 8.7.3. Grade Benchmarking
- 8.7.4. Strategic Initiatives
- 8.8. Texas Steel Conversion Inc.
- 8.8.1. Company Overview
- 8.8.2. Financial Performance
- 8.8.3. Grade Benchmarking
- 8.8.4. Strategic Initiatives
- 8.9. DP Master
- 8.9.1. Company Overview
- 8.9.2. Financial Performance
- 8.9.3. Grade Benchmarking
- 8.9.4. Strategic Initiatives
- 8.10. Jiangyin Long Bright Drill Pipe Manufacture Co. Ltd.
- 8.10.1. Company Overview
- 8.10.2. Financial Performance
- 8.10.3. Grade Benchmarking
- 8.10.4. Strategic Initiatives
- 8.11. Drill Pipe International LLC
- 8.11.1. Company Overview
- 8.11.2. Financial Performance
- 8.11.3. Grade Benchmarking
- 8.11.4. Strategic Initiatives
- 8.12. Superior Drill Pipe Manufacturing, Inc.
- 8.12.1. Company Overview
- 8.12.2. Financial Performance
- 8.12.3. Grade Benchmarking
- 8.12.4. Strategic Initiatives