Global Drill Pipe Market 2015-2019
About Drill Pipe
Drill pipes are an essential part of the drill string. They form the longest component of the drill string. 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 known as 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, aluminium and titanium alloys are also used. The bars of alloys are bored from one end to the other to provide passage for drilling fluids. Drill pipes are segmented into various grades depending on their material properties such as tensile strength and yield strength. Standard drill pipes are about 30 feet to 33 feet in length. Drill pipes are characterized by high tensile strength and resistance to fatigue.
Technavio's analysts forecast the global drill pipe market to grow at a CAGR of 9.58%, in terms of revenue, over the period 2014-2019.
Covered in this Report
Technavio's report, Global Drill Pipe Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the forecast of the global drill pipe market and its growth prospects in the coming years. The report also includes the segmentation on the basis of application, raw materials, and geography. The report also includes a discussion of the key vendors operating in this market.
The report covers the segmentation as described below.
Technavio Announces the Publication of its Research Report – Global Drill Pipe Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Drill Pipe Market: DP Master, Hilong Group, Hunting, Superior Drillpipe Manufacturing, Tasman Oil Tools, Tenaris and Vallourec
Other Prominent Vendors in the market are: ACE, Aliron Tool Research, American Oilfield Tools, Bilco Tools, Challenger International, Command Energy Services, Downhole Oil Tools, Logan Oil Tools, Magnum Oil Tool International, National Oilwell Varco, Oil Tools International Services Private, Schoeller Bleckmann Oilfield Equipment, Wenzel Downhole Tools and Workstrings International
Commenting on the report, an analyst from Technavio’s team said: “Advances in downhole drilling technologies will boost the global drill pipe market in future. Technologically advanced drill tools increase efficiency, control, and monitoring of the wells and are in demand because of growing complexity of wells, increased exploration of unconventional reserves, and redevelopment of mature fields. The advances in drilling technologies have increased the efficiency and reduced the cost and risks of drilling projects. Hence, the market vendors are increasing their R&D investments to develop advanced drilling tools. These developments are expected to propel the market growth during the forecast period.”
According to the report, expansion of oil and gas exploration and drilling activities is expected to stimulate market growth in the near future. The growing demand for oil and gas will encourage large investment in state-of-the-art technology to increase the efficiency of drill pipes, ensuring oil production. With the decline of easy oil worldwide, drilling activities such as directional and deep-sea drilling will ensure the supply-demand balance by enhancing access to oil and gas in previously inaccessible formations.Further, the report states that a persistent decline in oil prices is expected to reduce investments in drilling activities and negatively influence the global drill pipe market.
DP Master, Hilong Group, Hunting, Superior Drillpipe Manufacturing, Tasman Oil Tools, Tenaris, Vallourec, ACE, Aliron Tool Research, American Oilfield Tools, Bilco Tools, Challenger International, Command Energy Services, Downhole Oil Tools, Logan Oil Tools, Magnum Oil Tool International, National Oilwell Varco, Oil Tools International Services Private, Schoeller Bleckmann Oilfield Equipment, Wenzel Downhole Tools, Workstrings International