Drill Pipe Market in the Middle East 2015-2019
About Drill Pipes
Drill pipes are an essential part of the drill string, forming its longest component. Drill pipes are hollow thick-walled steel pipes with threaded connections at both ends. The end with an external thread is known as the male end, whereas the end with an internal thread is called the female end. The basic purpose of a drill pipe is to provide a connection between the surface equipment and BHA for drilling purposes. Drill pipes are generally machined out of solid steel alloy bars as per API specifications. However, aluminum and titanium alloys are also used as raw material for drill pipes. The bars of alloys are bored from one end to the other to provide a passage for drilling fluids. Drill pipes are segmented into various grades depending on their material properties such as tensile strength and yield strength. A standard drill pipe is about 30 to 33 feet in length. Drill pipes are characterized by high tensile strength and fatigue resistance.
Technavio's analysts forecast the drill pipe market in the Middle East to grow at a CAGR of 12.04% in terms of revenue during 2014-2019.
Covered in this Report
The report includes the present scenario and the growth prospects of the drill pipe market in the Middle East for 2015-2019. The market can be divided into the following segments:
Technavio Announces the Publication of its Research Report – Drill Pipe Market in the Middle East 2015-2019
Technavio recognizes the following companies as the key players in the Drill Pipe Market in the Middle East: DP-Master Co. Ltd., Halliburton SA, Hunting plc, Schlumberger Ltd., Tasman Oil Tools Pty Ltd., Tenaris SA, Vallourec SA, and Weatherford International plc
Other Prominent Vendors in the market are: ACE, Aliron Tool Research, Challenger International, Command Energy Services, Downhole Oil Tools, National Oilwell Varco, Oil Tools International Services Private, Wenzel Downhole Tools, and Workstrings International.
Commenting on the report, an analyst from Technavio’s team said: “Decreasing investment in in-house production units is a key trend observed in the market. Many oil and gas companies are now reducing their investments in drill pipe manufacturing as it is easily available in the market for rent. This helps to reduce the overall cost of operation and also aids in increasing the overall efficiency.”
According to the report, the augmented demand for oil and gas is a major driver that promotes growth in this market. This demand for oil and gas is expected to increase during the forecast period owing to the rapid increase in population and industrialization.
Further, the report states that the emergence of renewable sources of energy is a major challenge faced by this market. Renewable sources of energy are more efficient and eco-friendly compared to conventional sources to energy. Recent technological innovations will diversify the energy supply sources and provide more eco-friendly options that could ultimately replace fossil fuels.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook