According to our latest study on “Drill Pipe Market Forecast to 2028 - COVID-19 Impact and North America and South & Central America Analysis - by Product and End-user,” the market is expected to grow from US$ 554.75 million in 2021 to US$ 737.4 million by 2028; it is estimated to grow at a CAGR of 4.1% from 2021 to 2028.
The demand for tubular goods such as drill pipes, tubing, and casing is growing significantly with the increasing requirement for drilling services. The increasing focus on offshore drilling activities and shale drilling is enhancing the growth of the industry. The drill pipe manufacturers are developing innovative and advanced pipes for oil and gas exploration activities. The advent of new technologies such as next-generation wired drill pipe and horizontal drilling directional (HDD) is driving the drill pipe market. For instance, in March 2021, Reelwell AS delivered two strings of DualLink to Nabors Industries in its US land applications. The pipes are next-generation wired drill pipes offering reliability, high-speed data telemetry, and digital drilling technology transformation. The increasing onshore exploration and production activities are bolstering the market growth. The COVID-19 pandemic has had a severe impact on the oil & gas industry. The lowered prices of oil and disrupted supply chain have negatively affected the market. Drilling in offshore areas incurs a huge economic cost and the rising fluctuation in steel prices due to the COVID-19 pandemic is lowering the margin for manufacturers. However, the market is expected to regain its growth in 2021 and 2022, with rising drilling operations in North and South and Central America.
The drill pipe market is segmented based on product, application, and geography. Based on type, the API grade segment led the market in 2020 and is expected to continue its dominance during the forecast period. Based on application, the onshore segment led the drill pipe market in 2020, with a market share of 68.2% and is expected to continue its dominance during the forecast period by accounting for 69% of the total market revenue share in 2028. Geographically, the global drill pipe market is broadly segmented into North America, and South & Central America. In 2020, North America accounted for a significant share in the global market.
The COVID-19 outbreak is adversely affecting industries across the world and this devastating effect is continuing in 2021 as well. The outbreak created significant disruptions in primary industries such as manufacturing, healthcare, energy & power, electronics & semiconductor, aerospace & defense, and construction. A significant decline in activities in the mentioned industries is negatively impacting the performance of the drill pipe market. The reimplementation of containment measures such as travel restrictions, trade bans, and workforce limitation have disrupted the manufacturing, supply, and sales of various businesses, including industrial equipment such as drill pipes.
Key Findings of Study:
Several players operating in the global drill pipe market are adopting significant strategic initiatives. For instance, in March 2021, TMK signed an agreement with the largest oil and gas company in Uzbekistan - JSC Uzbekneftegaz. Through this agreement, both companies intend to work jointly on oil and gas exploration projects in the Republic of Uzbekistan
The drill pipe market is segmented based on product, application, and geography. Based on type, the API grade segment led the market in 2020 and is expected to continue its dominance during the forecast period. Based on application, the onshore segment led the drill pipe market in 2020, with a market share of 68.2% and is expected to continue its dominance during the forecast period by accounting for 69% of the total market revenue share in 2028. Geographically, the global drill pipe market is broadly segmented into North America, and South & Central America. In 2020, North America accounted for a significant share in the global market.
The COVID-19 outbreak is adversely affecting industries across the world and this devastating effect is continuing in 2021 as well. The outbreak created significant disruptions in primary industries such as manufacturing, healthcare, energy & power, electronics & semiconductor, aerospace & defense, and construction. A significant decline in activities in the mentioned industries is negatively impacting the performance of the drill pipe market. The reimplementation of containment measures such as travel restrictions, trade bans, and workforce limitation have disrupted the manufacturing, supply, and sales of various businesses, including industrial equipment such as drill pipes.
Key Findings of Study:
Several players operating in the global drill pipe market are adopting significant strategic initiatives. For instance, in March 2021, TMK signed an agreement with the largest oil and gas company in Uzbekistan - JSC Uzbekneftegaz. Through this agreement, both companies intend to work jointly on oil and gas exploration projects in the Republic of Uzbekistan
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Table of Contents
1. Introduction1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Drill Pipe Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 SCAM
4.1 Ecosystem Analysis
4.2 Expert Opinions
5. Drill pipe Market - Key Market Dynamics
5.1 market drivers
5.1.1 Increasing Integrations of Innovative Technologies
5.1.2 Rising Automotive Sector to Increase Consumption of Oil and Gas
5.2 Market Restraints
5.2.1 Political Instability in Developing Regions
5.2.2 Inflation in Raw Material Prices
5.3 market opportunities
5.3.1 Rising Exploration & Production Activity
5.4 Future trends
5.4.1 Rising Trend of Horizontal Directional Drilling (HDD)
5.5 Impact Analysis of Drivers And Restraints
6. Drill Pipe - North America & SAM Market Analysis
6.1 North America & SAM Drill Pipe Market Overview
6.2 North America & SAM Drill pipe Market Revenue Forecast and Analysis
6.3 Market Positioning - Five Key Players
7. North America & SAM Drill pipe Market - By Type
7.1 Overview
7.2 API grade
7.2.1 North America & SAM API grade Market Revenue and Forecasts to 2028 (US$ Million)
7.3 Premium grade
7.3.1 North America & SAM Premium Grade Market Revenue and Forecasts to 2028 (US$ Million)
8. North America & SAM Drill Pipe Market - By Application
8.1 Overview
8.2 Onshore
8.2.1 North America & SAM Onshore Market Revenue and Forecasts to 2028 (US$ Million)
8.3 Offshore
8.3.1 North America & SAM Offshore Market Revenue and Forecasts to 2028 (US$ Million)
9. Drill pipe Market - Geographic Analysis
9.1 Overview
9.2 North America: Drill Pipe Market
9.2.1 North America: Drill Pipe Market - Revenue, and Forecast to 2028 (US$ Million)
9.2.2 North America: Drill Pipe Market, by Product
9.2.3 North America: Drill Pipe Market, by Application
9.2.4 North America: Drill Pipe Market, by Key Country
9.2.4.1 US: Drill Pipe Market - Revenue, and Forecast to 2028 (US$ Million)
9.2.4.1.1 US: Drill Pipe Market, by Product
9.2.4.1.2 US: Drill Pipe Market, by Application
9.2.4.2 Canada: Drill Pipe Market - Revenue, and Forecast to 2028 (US$ Million)
9.2.4.2.1 Canada: Drill Pipe Market, by Product
9.2.4.2.2 Canada: Drill Pipe Market, by Application
9.2.4.3 Mexico: Drill Pipe Market - Revenue, and Forecast to 2028 (US$ Million)
9.2.4.3.1 Mexico: Drill Pipe Market, by Product
9.2.4.3.2 Mexico: Drill Pipe Market, by Application
9.3 SAM: Drill Pipe Market
9.3.1 SAM: Drill Pipe Market - Revenue, and Forecast to 2028 (US$ Million)
9.3.2 SAM: Drill Pipe Market, by Product
9.3.3 SAM: Drill Pipe Market, by Application
9.3.4 SAM: Drill Pipe Market, by Key Country
9.3.4.1 Brazil: Drill Pipe Market - Revenue, and Forecast to 2028 (US$ Million)
9.3.4.1.1 Brazil: Drill Pipe Market, by Product
9.3.4.1.2 Brazil: Drill Pipe Market, by Application
9.3.4.2 Argentina: Drill Pipe Market - Revenue, and Forecast to 2028 (US$ Million)
9.3.4.2.1 Argentina: Drill Pipe Market, by Product
9.3.4.2.2 Argentina: Drill Pipe Market, by Application
9.3.4.3 Rest of SAM: Drill Pipe Market - Revenue, and Forecast to 2028 (US$ Million)
9.3.4.3.1 Rest of SAM: Drill Pipe Market, by Product
9.3.4.3.2 Rest of SAM: Drill Pipe Market, by Application
10. Drill pipe Market - COVID-19 Impact Analysis
10.1 Overview
10.1.1 North America: Impact Assessment of COVID-19 Pandemic
10.1.2 SAM: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
12. Company Profiles
12.1 TMK
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 National Oilwell Varco, Inc.
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 DP-Master Manufacturing (S) Pte Ltd.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Drill Pipe International, LLC
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Premier Drill Products, LLC
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Shanghai Hilong Drill Pipe Co., Ltd.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Tejas Tubular Products, Inc
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Texas Steel Conversion, Inc
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Hunting PLC
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Universal HDD Company
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About
13.2 Word IndexL
List of Tables
Table 1. North America & SAM Drill pipe Market Revenue and Forecast to 2028 (US$ Million)
Table 2. North America: Drill Pipe Market, by Product - Revenue and Forecast to 2028 (US$ Million)
Table 3. North America: Drill Pipe Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 4. North America: Drill Pipe Market, by Country - Revenue and Forecast to 2028 (US$ Million)
Table 5. US: Drill Pipe Market, by Product - Revenue and Forecast to 2028 (US$ Million)
Table 6. US: Drill Pipe Market, by Application-Revenue and Forecast to 2028 (US$ Million)
Table 7. Canada: Drill Pipe Market, by Product - Revenue and Forecast to 2028 (US$ Million)
Table 8. Canada: Drill Pipe Market, by Application-Revenue and Forecast to 2028 (US$ Million)
Table 9. Mexico: Drill Pipe Market, by Product - Revenue and Forecast to 2028 (US$ Million)
Table 10. Mexico: Drill Pipe Market, by Application-Revenue and Forecast to 2028 (US$ Million)
Table 11. SAM: Drill Pipe Market, by Product - Revenue and Forecast to 2028 (US$ Million)
Table 12. SAM: Drill Pipe Market, by Application - Revenue and Forecast to 2028 (US$ Million)
Table 13. SCAM: Drill Pipe Market, by Country - Revenue and Forecast to 2028 (US$ Million)
Table 14. Brazil: Drill Pipe Market, by Product - Revenue and Forecast to 2028 (US$ Million)
Table 15. Brazil: Drill Pipe Market, by Application-Revenue and Forecast to 2028 (US$ Million)
Table 16. Argentina: Drill Pipe Market, by Product - Revenue and Forecast to 2028 (US$ Million)
Table 17. Argentina: Drill Pipe Market, by Application-Revenue and Forecast to 2028 (US$ Million)
Table 18. Rest of SAM: Drill Pipe Market, by Product - Revenue and Forecast to 2028 (US$ Million)
Table 19. Rest of SAM: Drill Pipe Market, by Application-Revenue and Forecast to 2028 (US$ Million)
Table 20. List of AbbreviationList of Figures
Figure 1. Drill Pipe Market Segmentation
Figure 2. Drill Pipe Market Segmentation - By Geography
Figure 3. North America & SAM Drill Pipe Market Overview
Figure 4. Drill Pipe Market, By Product
Figure 5. Drill Pipe Market, By Application
Figure 6. Drill Pipe Market, By Geography
Figure 7. North America PEST Analysis
Figure 8. SAM PEST Analysis
Figure 9. Drill pipe Market - Ecosystem Analysis
Figure 10. Drill pipe Market Impact Analysis of Drivers and Restraints
Figure 11. Geographic Overview of Drill Pipe Market
Figure 12. North America & SAM Drill pipe Market Revenue Forecast and Analysis (US$ Million)
Figure 13. North America & SAM Drill pipe Market Breakdown by Type, 2020 & 2028 (%)
Figure 14. North America & SAM API grade Market Revenue and Forecasts to 2028 (US$ Million)
Figure 15. North America & SAM Premium grade Market Revenue and Forecasts to 2028 (US$ Million)
Figure 16. North America & SAM Drill pipe Market Breakdown by Application, 2020 & 2028 (%)
Figure 17. North America & SAM onshore Market Revenue and Forecasts to 2028 (US$ Million)
Figure 18. North America & SAM Offshore Market Revenue and Forecasts to 2028 (US$ Million)
Figure 19. North America & SAM Drill pipe Market Revenue Share, By Region (2020 and 2028)
Figure 20. North America: Drill Pipe Market - Revenue and Forecast to 2028 (US$ Million)
Figure 21. North America: Drill Pipe Market Revenue Share, by Product (2020 and 2028)
Figure 22. North America: Drill Pipe Market Revenue Share, by Application(2020 and 2028)
Figure 23. North America: Drill Pipe Market Revenue Share, by Country (2020 and 2028)
Figure 24. US: Drill Pipe Market - Revenue, and Forecast to 2028 (US$ Million)
Figure 25. Canada: Drill Pipe Market - Revenue, and Forecast to 2028 (US$ Million)
Figure 26. Mexico: Drill Pipe Market - Revenue, and Forecast to 2028 (US$ Million)
Figure 27. SAM: Drill Pipe Market - Revenue and Forecast to 2028 (US$ Million)
Figure 28. SAM: Drill Pipe Market Revenue Share, by Product (2020 and 2028)
Figure 29. SAM: Drill Pipe Market Revenue Share, by Application(2020 and 2028)
Figure 30. SAM: Drill Pipe Market Revenue Share, by Country (2020 and 2028)
Figure 31. Brazil: Drill Pipe Market - Revenue, and Forecast to 2028 (US$ Million)
Figure 32. Argentina: Drill Pipe Market - Revenue, and Forecast to 2028 (US$ Million)
Figure 33. Rest of SAM: Drill Pipe Market - Revenue, and Forecast to 2028 (US$ Million)
Figure 34. Global Impact of COVID-19 Pandemic in North American Country Markets
Figure 35. Global Impact of COVID-19 Pandemic in SAM Country Markets
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- TMK Group;
- National Oilwell Varco, Inc.
- DP-Master Onshore (S) Pte Ltd.
- Drill Pipe International, LLC
- Premier Drill Products, LLC
- Shanghai Hilong Drill Pipe Co., Ltd.
- Tejas Tubular Products, Inc
- Texas Steel Conversion, Inc
- Hunting PLC
- Universal HDD Company
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 132 |
| Published | July 2021 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value ( USD | $ 554.75 Million |
| Forecasted Market Value ( USD | $ 737.4 Million |
| Compound Annual Growth Rate | 4.1% |
| Regions Covered | North America |
