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Drill Pipe Market Expected To Reach $1.7 Billion by 2019

The report "Drill Pipe Market by Grade (API, Premium), Application (Onshore, Offshore), & Geography - Global Trends & Forecasts to 2019", defines and segments the global drill pipe market with an analysis and forecast of the revenue. The drill pipe market will grow from an estimated $1.17 billion in 2014 to $1.7 billion by 2019, with a CAGR of 7.9%.

Browse 100 market data tables and 28 figures spread through 200 pages and in-depth TOC on “Drill Pipe Market by Grade (API, Premium), Application (Onshore, Offshore), & Geography - Global Trends & Forecasts to 2019”.


The demand for drill pipe is driven by high exploration and production activities, growth in the energy demand, and escalating investments from the oil and gas operators. The trend is set to continue with the current surge in exploratory activities particularly in unconventional formations as well as in harsh environments such as the Arctic. 

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The U.S. market is driven by the major oil & gas exploration activities in major onshore areas, the Gulf of Mexico, and Alaska. The U.S. has experienced a rapid increase in natural gas and oil production from shale and other resources. High drilling efficiency and new well-productivity, along with an increase in the rig count, have been the main drivers of the recent production growth in the U.S. The recent boom in shale gas could also promote a rapid expansion of the petrochemical sector.

The U.S. recorded the highest market size at a value of $490.2 million in 2013. It is expected to reach $828.2 million by 2019, from an estimated value of $560.3 million in 2014, at a CAGR of 8.1% during the forecast period.


Drill pipe market is segmented into two categories in terms of grade, namely, API grade and premium grade drill pipe. The API grade is based on specifications defined by the American Petroleum Institute (API) and it follows the latest API specifications, 5D and 7. The drill pipe market for the API grade segment recorded the largest market volume in 2013, at 171.74 thousand short tons. This segment is expected to grow from an estimated 179.09 thousand short tons in 2014 to 183.46 thousand short tons by 2019, at a CAGR of 0.5% from 2014 to 2019.

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