TechSci Research has published a report titled “Global Drill Pipe Market By Grade, By Application, By Region, Competition, Forecast & Opportunities, 2016-2026”, stating that the global drill pipe market was valued at over USD 1236 million in 2019 and is projected to grow at a CAGR of around 4% by 2026. The growth of the drill pipe market can be attributed to the increasing oil and gas exploration activities across the world, which requires real-time data from the wellbore. Furthermore, the growth of the global drill pipe market is bolstered by advancements in drilling techniques. The global drill pipe market is categorized into two grades: API grade and premium grade.
The API grade category accounted for the majority of the global drill pipes market in 2018 and is expected to remain the largest category throughout the forecast period due to its lower cost compared to premium grade drill pipes. However, the premium grade drill pipes are anticipated to grow at a faster rate than the API grade drill pipes due to the increasing demand for deep-water drilling activities, as premium grade drill pipes are suitable for unfavorable drilling conditions. The global drill pipe market is also categorized by region, including North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. North America accounted for the majority of the global market for drill pipes in 2018 and is expected to maintain its position during the forecast period due to the growing shale gas exploration and production in the United States, which favors the drill pipe market in the region.
Browse 115 market data 95 Figures spread through 110 Pages and an in-depth TOC on “ Global Drill Pipe Market “https://www.techsciresearch.com/report/drill-pipe-market/4080.html
“The global drill pipe market is witnessing growth on account of advancements in drilling technologies such as horizontal drilling and pad drilling, which have amplified the drilling efficiency and lessened the drilling rig downtime, thereby enabling faster drilling operations. This in return will translate into the increased drilling equipment demand, which includes drill pipe.” said, Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Drill Pipe Market By Grade, By Application, By Region, Competition, Forecast & Opportunities, 2016-2026” has evaluated the future growth potential of the global drill pipe market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global drill pipe market.
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