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Global Drill Pipe Market Size, Share, Growth, Forecast: By Type: Standard Drill Pipe, Heavy Weight Drill Pipe (HWDP); By Grade: API, Premium; By Application: Offshore, Onshore; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Value Chain Analysis; Competitive Landscape; 2024-2032
Global Drill Pipe Market Outlook
The global drill pipe market size attained a value of nearly USD 1.78 billion in 2023. The market is further estimated to grow in the forecast period of 2024-2032 at a CAGR of 5.4% to reach about USD 2.85 billion by 2032.
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North America to Hold A Substantial Share in the Market Growth of Drill Pipes
North America is anticipated to hold a substantial share in the drill pipe market over the coming years owing to the ongoing shale gas exploration in the region, especially in the United States. The improvement of shale formations has been associated with a rise in employment in the oil and gas industry in the United States which is likely to drive the market.
Advanced extraction technology and increasing production of oil and natural gas in the region are expected to drive the market growth of drill pipes across North America. There are increasing drilling activities along with the growing number of suppliers and manufacturers and rising adoption of horizontal drilling and hydraulic fracturing techniques. These factors together are projected to propel the market growth of drill pipes in the region.
Global Drill Pipe Market Segmentation
A drill pipe is an important tool used for drilling in the oil field. Drill pipes are exposed to different types of loads and are operated under various environmental conditions. They are seamless steel pipes that are composed of around 95% of the length of a drill string. The pipe is hollow, which permits the drilling fluid to flow easily throughout the pipe and the pumping process to be finished successfully.
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The market for drill pipe, by type, is divided into:
- Standard Drill Pipe
- Heavy Weight Drill Pipe (HWDP)
Based on grade, the market is categorised into:
- API
- Premium
By application, the market is segmented into:
- Onshore
- Offshore
The EMR report looks into the regional markets of drill pipe like Latin America, North America, Europe, Asia Pacific, the Middle East, and Africa.
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Rapid Growth in Drilling Activities to Fuel the Market Growth of Drill Pipe
The drill pipe market across the globe is expected to witness robust growth over the coming years on account of enormous drilling activities along with increasing investment in drilling operations. The increasing demand for drill pipes at oil and gas extraction sites and growing technological advancements and innovations related to drilling operations are likely to drive the market growth.
There is increasing popularity of horizontal directional drilling due to its flexibility in the drilling of small-sized rigs for oil & gas, utilities, and pipe installations, among others. Based on application, the onshore segment is expected to grow in the market due to the increasing onshore drilling activities and increase in onshore oil production.
Key Players in the Global Market for Drill Pipe
The report presents a detailed analysis of the following key players in the global drill pipe market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Drill Pipe International, LLC
- RK Pipe and Supply, LLC
- Premier Drill Products
- Oil Country Tubular Limited.
- PetroMaterials Corporation
- Others
The comprehensive report looks into the macro and micro aspects of the market. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Grade |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Drill Pipe Market Analysis
8.1 Key Industry Highlights
8.2 Global Drill Pipe Historical Market (2018-2023)
8.3 Global Drill Pipe Market Forecast (2024-2032)
8.4 Global Drill Pipe Market by Type
8.4.1 Standard Drill Pipe
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Heavy Weight Drill Pipe (HWDP)
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Drill Pipe Market by Grade
8.5.1 API
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Premium
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Drill Pipe Market by Application
8.6.1 Offshore
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Onshore
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.7 Global Drill Pipe Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Drill Pipe Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Drill Pipe Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Drill Pipe Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Drill Pipe Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Drill Pipe Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Drill Pipe International, LLC
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 RK Pipe and Supply, LLC
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Premier Drill Products
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Oil Country Tubular Limited.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 PetroMaterials Corporation
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Drill Pipe Market: Key Industry Highlights, 2018 and 2032
2. Global Drill Pipe Historical Market: Breakup by Type (USD Million), 2018-2023
3. Global Drill Pipe Market Forecast: Breakup by Type (USD Million), 2024-2032
4. Global Drill Pipe Historical Market: Breakup by Grade (USD Million), 2018-2023
5. Global Drill Pipe Market Forecast: Breakup by Grade (USD Million), 2024-2032
6. Global Drill Pipe Historical Market: Breakup by Application (USD Million), 2018-2023
7. Global Drill Pipe Market Forecast: Breakup by Application (USD Million), 2024-2032
8. Global Drill Pipe Historical Market: Breakup by Region (USD Million), 2018-2023
9. Global Drill Pipe Market Forecast: Breakup by Region (USD Million), 2024-2032
10. North America Drill Pipe Historical Market: Breakup by Country (USD Million), 2018-2023
11. North America Drill Pipe Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Europe Drill Pipe Historical Market: Breakup by Country (USD Million), 2018-2023
13. Europe Drill Pipe Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Asia Pacific Drill Pipe Historical Market: Breakup by Country (USD Million), 2018-2023
15. Asia Pacific Drill Pipe Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Latin America Drill Pipe Historical Market: Breakup by Country (USD Million), 2018-2023
17. Latin America Drill Pipe Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Middle East and Africa Drill Pipe Historical Market: Breakup by Country (USD Million), 2018-2023
19. Middle East and Africa Drill Pipe Market Forecast: Breakup by Country (USD Million), 2024-2032
20. Global Drill Pipe Market Structure
Key Questions Answered in the Report
The market is assessed to grow at a CAGR of 5.4% between 2024 and 2032.
In 2023, the global market attained a value of nearly USD 1.78 billion.
The major market drivers are surging industrialisation, growing drilling operations in the oil & gas industry, and rising investment in drilling activities.
The market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach almost USD 2.85 billion by 2032.
The key market trends include rapid growth in the oil and gas industry and increased expenditure from oil & gas companies in the exploration and developmental activities.
The major markets at a regional level identified in the report are Asia Pacific, North America, Europe, Latin America, the Middle East, and Africa.
The various types of drill pipe in the market includes standard drill pipe and heavy weight drill pipe (HWDP).
The major grades of drill pipe in the market are API and Premium.
The primary applications of drill pipes in the market are offshore and onshore.
The major players in the market are Drill Pipe International, LLC, RK Pipe and Supply, LLC, Premier Drill Products, Oil Country Tubular Limited., and PetroMaterials Corporation, among others.
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