The global drill pipe market is anticipated to witness substantial growth in the coming years owing to the high demand from numerous end use industry applications, states a new research report by Transparency Market Research (TMR). The report is titled, “Drill Pipe Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth and Forecast 2014 – 2020.” It presents a complete study of current trends in the market along with upcoming opportunities that will ensure its growth. The report discusses factors that will drive the market and challenge its growth. In addition to this, the competitive landscape is discussed with important data pertaining to key players, strategies implemented by them, and their recent developments.
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The growth in the oil and gas sector is one of the major drivers of the global drill pipe market. This is because, oil and gas is one of the most significant end use industry for the drill pipe market. An increase in the demand for natural gas is leading to a growth in the drilling activities, which in turn is aiding the growth of the drill pipe market. Other factors expected to boost the market in the future include growth in the construction industry and high demand from developing economies.
There are a few challenges faced by the global drill pipe market, which are likely to impact the growth of the market. High production cost is one of the factors impeding the growth of the market. Growing environmental concerns regarding harmful emissions during oil and gas exploration activities will also impact the market negatively. This is expected to result in numerous regulations regarding the use of oil and gas, which will indirectly hamper the drill pipe market, states a TMR analyst. On the other hand, Asia Pacific is expected to provide ample opportunities of growth in the coming years. Countries such as China and India are expected to have a high demand for energy, which will emerge as an opportunity for players.
The report segments the global drill pipe market on the basis of geography into Asia Pacific, Europe, North America, and the Rest of the World. It also assesses which region will witness sluggish growth and the region that will experience significant growth. In addition to this, the report profiles key players such as Shanghai Hilong Drill Pipe Co. Ltd., Interdril Asia Ltd Superior Drillpipe Manufacturing Inc., RK Pipe LLC, TPS TECHNITUBE RÖHRENWERKE GmbH, Drill Pipe International LLC, DP Master Manufacturing Pte Ltd, and Tenaris Company.
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