News Contact Us

U.S. Drill Pipe Market to surpass annual deployment of 13 million feet by 2024

Author : Rahul Sankrityayan | Published Date : 2019-08-21 

Global Drill Pipe Market report research highlights key dynamics of the global sector. The potential of the industry has been investigated along with the key challenges. The current market scenario and prospects of the sector has also been studied.

Ongoing capital expenditure from independent players along with increasing exploration of unconventional wells will propel the U.S. drill pipe market. As per the U.S. EIA, 44 onshore companies have increased their capital expenditure by 72% between 2015 & 2016 in the country. Moreover, availability of recoverable shale O&G reserves will further drive the product adoption.

Get sample copy of this research report @ https://www.gminsights.com/request-sample/detail/796

Global Drill Pipe Market is predicted to exceed USD 1 Billion by 2024. Ongoing government ventures to increase crude oil production along with rising investments in upstream sector will propel the product penetration. Increasing primary energy consumption coupled with stabilizing crude prices will further propel the business landscape. For instance, according to the EIA's Annual Energy Outlook 2018, the U.S. NG consumption across the industrial sector is set to increase by 39% from 25.9 Bcf/d in 2017 to 36.1 Bcf/d by 2050.

Implementation of advanced techniques for crude production including hydraulic drilling in combination with horizontal drilling will drive the drill pipe market size. Furthermore, ongoing E&P of unconventional resources will fuel the business growth. According to the Energy Information Administration, tight oil is anticipated to be the prime source of the U.S. oil production accounting for around 70% of the overall output by 2040.

Premium drill pipe market will witness robust growth on account of the product's aptness for the exploration of deep & ultra-deep-water reservoirs coupled with the ability of these products to function efficiently across difficult geographical regions. API grade drill pipes are favored when compared to premium grade across onshore owing to their cost effectiveness.

Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/796             

Saudi Arabia drill pipe market sizeis predicted to grow over 10% by 2024. Crude oil production targets set by the government along with rising onshore rig count will propel the product demand. For instance, in 2018, Saudi Aramco signed a contract with the National Oilwell Varco based in the U.S. for the manufacture of onshore rigs and other drilling equipment.

Offshore drill pipe market share is predicted to expand over 8% by 2024. Technological enhancements to effectively explore deep-water & ultra-deep-water reserves across different geographical terrains at optimum cost will stimulate the business growth. Favorable regulative policies to improve domestic production from untapped reserves will further drive the product deployment.

Browse Complete Summary of this report @ https://www.gminsights.com/industry-analysis/drill-pipe-market

Increasing count of upstream projects across the Amazon region will fuel the LATAM drill pipe market. In 2016, Petroamazonas signed an accord worth about USD 1 billion to increase production output by approx. 30 thousand bbl/day in 2018 and to extract 84.6 MMbbl of crude from incremental reserves.

Eminent industry players in the drill pipe market share include E&M Supply Group, Tenaris, Vallourec, DP-Master Manufacturing, Premier Drill Products, TMK Group, Ferrostaal Piping Supply, Texas Steel Conversion, Oil Country Tubular Limited, Holly Pipe Corporation, RK Pipe & Supply and Hilong Group.

Related Report:

Low Voltage Drives Market 2019


About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

Related News

Animal Feed Organic Trace Minerals Market share to witness sustainable gains from zinc segment 2019-2024

Published Date: 2019-09-20         Author: Rahul Sankrityayan

Global Market Insights, Inc. provides a detailed overview of Animal Feed Organic Trace Minerals Market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of market in conjunction with the geographical landscape, demand spectrum, remuneration... Read More

Food Pathogen Testing Market to witness remarkable growth from meat & poultry application 2019-2024

Published Date: 2019-09-20         Author: Rahul Sankrityayan

Global Market Insights, Inc. added research on Food Pathogen Testing Market is a detailed analysis of this business space inclusive of the trends, competitive landscape, and the market size. Encompassing one or more parameters among product analysis, application potential, and the regional growth la... Read More

North America Gasoline Genset Market Statistics 2025: Share Forecasts, Trends & Growth drivers

Published Date: 2019-09-20         Author: Rahul Sankrityayan

North America Gasoline Genset Market report provides a detailed analysis on the industry size, revenue forecasts and geographical landscape pertaining to this business space. Additionally, the report highlights primary obstacles and latest growth trends accepted by key players that form a part of th... Read More

© 2019 Fractovia. All Rights Reserved