The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The growing number of rig drilling operations is likely to stimulate innovation in drill pipe production, propelling the market during the forecast period.

The global drill pipe market is expected to grow from $1.34 billion in 2022 to $1.43 billion in 2023 at a compound annual growth rate (CAGR) of 6.5%. The global drill pipe market size is expected to reach $1.77 billion in 2027 at a CAGR of 5.5%.

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Global Drill Pipe Market Segments Include:

• By Type: Standard Drill Pipes, Heavy Weight Drill Pipes, Drill Collars
• By Material: Alloys, Composites, Other Materials
• By Application: Offshore, Onshore
• By Industry: Oil And Gas Industry, Mining Industry, Agriculture Industry, Other Industries
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global drill pipe market in 2021.

Major Market Players in the drill pipe market include Hilong Group of Companies Ltd., Oil Country Tubular Ltd, Texas Steel Conversion Inc., Drill Pipe International LLC, NOV Inc, PetroMaterials Corporation, Tejas Tubular Products Inc, Tenaris S.A, TMK Steel Limited.

Technological developments are a major trend that is gaining traction in the drill pipe market. To maintain their market position, major businesses in the drill pipe industry are using innovative technology. Vermeer Corporation, a US-based industrial and agricultural machine manufacturer, for example, launched the 550,000-pound (249,475.8-kg) D550 HDD (Horizontal directional drilling), a new generation of maxi rig drills driven by HDD technology, in April 2022. Horizontal directional drilling (HDD) is a smart drilling technology that entails digging a tunnel beneath a canal or other designated area and then hauling a pipeline or other utility through the tunnel. It requires drilling precisely along the desired bore path and back reaming the required pipe with a directional drilling machine and associated equipment. To avoid spreading soil contamination above ground, the earth is pushed to one side rather than brought to the surface during HDD drilling. Furthermore, because the pipe connections are strong, contaminated soil should not enter the system.

The Drill Pipe Global Market Report 2023  provides a drill pipe market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The drill pipe market forecast analyzes drill pipe market size, drill pipe market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The drill pipe is a seamless steel pipe that is made up of the drill string and is the main component of the entire drill string. It is hollow to allow drilling fluid to be pumped through the bit and back up the annulus and down the hole.

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