Vertical: EnPBase Year: 201610 Sections
Market Size (2016)
$962.40M
Projected (2023)
$1.21B
CAGR (2015–2023)
3.3%
Key Players
14+
Drill Pipe plays a crucial role in oil and gas exploration activities as they have to withstand enormous stress, load and heat during drilling operations. They are a critical part of the drilling operation as any failure can result in delays and operation and cost losses. The requirements of drill pipes for drilling operations get very stringent along the depth of the well. Furthermore, in well drilling operations, the well has to be drilled through rocky layers on land and sometimes inside the sea. As global oil and gas exploration activities are shifting towards difficult geographical areas, the demand for higher and better quality drill pipes are increasing in the recent years.
The market is driven by various factors such as increasing investment in oil exploration activities, advancement in drilling technologies. Especially in the U.S., Canada, Russia, the oil and gas industry is determined to install many rigs for oil & gas exploration, and these are expected to drive the market for drill pipes in near future. However, the growth of this market is expected to be hindered by high capital cost for drilling and stringent regulations for drilling activities.
The global drill pipe market is expected to grow at 3.47% CAGR during the forecast period. In 2016, the market was led by North America, with a 39.1% share, followed by Europe and Asia-Pacific with shares of 20.2% and 13.5%, respectively.
The global drill pipe market has been segmented based grade, application and by region. On the basis of application, onshore accounted for the largest market share of 56% in 2016, with a market value of USD 564.7 million and is projected to grow at a CAGR of 2.12% during the forecast period. Based on grade, API grade accounted for the largest market share of 75.4 % in 2016, with a market value of USD 725.6 million and is projected to grow at a CAGR of 3.15% during the forecast period.
Market Size
2017: USD 989.0 million
2023: USD 1,213.6 million
CAGR
Key Geographies
North America: 39.1%
Europe: 20.2%
Asia-Pacific: 13.5%
Rest of the World: 27.2%
Key Leading Countries
U.S.
Canada
Saudi Arabia
Russia
Norway
China
Indonesia
Key Market Drivers
Increasing investment in Oil exploration activities
Advancement in drilling technologies
Key Market Restraints
High capital cost for drilling
Stringent regulations for drilling activities
Key Market Opportunities
New oil reserves discovery
Increased demand for oil in Asia-Pacific region
Key Vendors
Hilong Group of Companies
Drill Pipe International Llc.
DP Master Manufacturing Pvt. Ltd. (China).
Vallourec S.A (France)
National Oilwell Varco (U.S.)
Oil Country Tubular Limited. (India)
Tenaris S.A. (Luxembourg)
Jiangyin Long Bright Drill Pipe Manufacture Co. Ltd. (China)
RK Pipe LLC. (USA)
Superior Drill Pipe Manufacturing, Inc. (USA)
Tejas Tubular Products Inc. (USA)
Texas Steel Conversion Inc. (USA)
TMK Group. (Russia)
TPS TECHNITUBE RÖHRENWERKE GmbH. (Germany)
The Drill Pipe Market market is projected to grow at a CAGR of 3.3% from 2015 to 2023.
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View Subscription PlansDrill Pipe plays a crucial role in oil and gas exploration activities as they have to withstand enormous stress, load and heat during drilling operations. They are a critical part of the drilling operation as any failure can result in delays and operation and cost losses. The requirements of drill pipes for drilling operations get very stringent along the depth of the well. Furthermore, in well drilling operations, the well has to be drilled through rocky layers on land and sometimes inside the sea. As global oil and gas exploration activities are shifting towards difficult geographical areas, the demand for higher and better quality drill pipes are increasing in the recent years.
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View Subscription PlansThis report applies a rigorous multi-stage research process combining primary interviews, secondary data sources, and bottom-up market modelling to ensure accuracy and completeness across all segments and geographies.
Base Year
2016
Historical Period
2015 – 2015
Forecast Period
2017 – 2023
Primary Interviews
150+
Historical data (2015–2016) and forecast period (2016–2023)
Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.
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View Subscription PlansIn competitive landscape, the report covers growth strategies adopted by the companies between 2014 and 2017. The key players adopted various strategies to retain and/or expand their market share. The key strategies followed by most companies within the global drill pipe market were expansions followed by the partnerships and collaborations.
The key players of global drill pipe market are DP Master Manufacturing Pvt Ltd. (Singapore), Drill Pipe International Llc. (USA), Hilong Group. (China), Jiangyin Long Bright Drill Pipe Manufacture Co. Ltd. (China), National Oilwell Varco. (USA), Oil Country Tubular Limited. (India), R K Pipe & Supply L.L.C (USA), SUPERIOR DRILLPIPE MANUFACTURING, INC. (USA), Tejas Tubular Products Inc.(USA), Tenaris S.A.(Luxembourg), Texas Steel Conversion Inc.(USA), TMK Group. (Russia), TPS-Technitube Röhrenwerke GmbH (Germany) and Vallourec S.A. (France) among others.
Out of all the key strategies adopted by the companies in the global drill pipe market, the Tenaris S.A (Luxembourg) has had the maximum number of new product developments with a share of 35%, during the period 2014 - 2017. National Oilwell Varco USA accounted for 26% share in new product development during the period. For instance, The Strix stickup height detection (SHD) technology, built by National Oilwell Varco (U.S.A), provides an accurate height set point for pipe-handling machines during drill pipe and casing trip-in sequences with the application of imaging sensors and computer vision techniques, which enables increased efficiency and consistency.
Tenaris S.A. (Luxembourg) has undergone the highest number of on partnerships and collaborations with a share of 35% during the period 2014-2017. For instance, Tenaris and Maersk Oil have been building a business relationship in the North Sea for several years. Over time, they worked together in many operations that posed numerous challenges, including complex offshore conditions, such as HP/HT, in some of the regions with most stringent environmental regulations. Also, Sandvik and Tenaris have signed a new five-year strategic alliance agreement on the exclusive joint supply of corrosion resistant alloy OCTG materials and technology to the oil and gas industry. By this agreement Sandvik and Tenaris look to build on an already long established and successful alliance that goes back over a decade.
The highest number of expansions have been undertaken by Tenaris S.A. (Luxembourg), with a share of 64% during the period 2014-2017. For instance, on 13th October 2016, Tenaris introduced to customers its new premium threading facility in Aktau, Kazakhstan, which will support Tenaris’ long-term agreement with Karachaganak Petroleum Operating (KPO), plus key operator Tengizchevroil (TCO) and will enhance the service offer to other customers operating in major Kazakhstan fields with commercial, technical, field service and supply chain logistics expertise.
Market estimates by geography (2023)
InsightNorth America leads with $501.80M by 2023.
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View Subscription Plans| REGION | 2015 | 2016 | 2023 | CAGR | SHARE |
|---|---|---|---|---|---|
| Asia Pacific | $127.10M | $139.70M | $157.80M | 2.7% | 13% |
| Europe | $189.50M | $211.50M | $242.70M | 3.1% | 20% |
| Rest of the World | $256.90M | $278.90M | $311.30M | 2.4% | 26% |
| North America | $363.30M | $421.10M | $501.80M | 4.1% | 41% |
| Total | $936.80M | $1.05B | $1.21B | 3.3% | 100% |
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View Subscription PlansTotal Market Size
$1.21B
| APPLICATION | REVENUE ($B) | GROWTH RATE | MARKET PENETRATION |
|---|---|---|---|
| API Grade | $760.50M | 3.1% | 74% |
| Premium Grade | $265.20M | 4.4% | 26% |
* Revenue projections based on 2025 estimates. Growth rates represent CAGR 2024–2030. Market penetration indicates current adoption rate within addressable market segments.
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Analytical insights on Drill Pipe Market covering market dynamics, competitive landscape, and strategic outlook.
The Drill Pipe Market market is projected to reach $1.21B by 2023, growing at 3.3% CAGR. The API Grade segment holds the largest share.
The global drill pipe market is a very dynamic market and is expected to witness high growth over the forecast period. The growth of the drill pipe market is influenced by the increasing oil and gas exploration activities in geographically difficult and harsh environmental condition areas. Furthermore, increasing investment in offshore and onshore exploration and production activities and advancement in drilling techniques are driving the growth of the drill pipe market. High operational cost of drilling procedures and stringent regulatory legislations related to drilling activities hinder the growth of the drill pipe market.
It is estimated that the world upstream oil and gas exploration activity is expected to remain at a high level for foreseeable future. Global oil and gas operators are stepping up the oil the gas exploration activities despite the recent slump in the oil prices. For instance, since 2009 oil exploration drilling in Norway accounted for about 12% of total investment in oil and natural gas extraction process. Also, in the U.S., exploration drilling activity has seen a significant rise after the increase in onshore shale oil and gas production activities.
North America – Gulf of Mexico
Recently oil giant BP has unveiled its plan to continue investing in new exploration activities in its Gulf of Mexico production platforms: Atlantis, Na Kika, Thunder Horse and Mad Dog.
In Alaska
Also in Alaska, BP has spent more than half a century exploring and developing oil and gas resources here, and it accounts for around 55 percent of the state’s oil and gas production. The company also owns seven other North Slope oil fields in the country, including Alaska’s newest oil and gas fields.
In Nigeria
In October 2016, another oil giant, Exxon Mobile Corporation announced a significant discovery with a potential recoverable resource ranging between 500 million and 1 billion barrels of oil on the Owowo field offshore Nigeria.
In Australia
According to Australian Petroleum Production & Exploration Association, Statoil, will pursue plans to explore for oil in the Great Australian Bight. Statoil joins a number of other companies, including Chevron, in pursuing explorations plans in the Australian Bight region.
Global oil and gas industry has been seeing a host of exploration and production activities over the past year, especially in West Africa, several countries in the region are planning to carry out diverse oil and gas engineering and procurement activities. Many major and independent firms are taking up upstream operations in the region. The Nigerian National Petroleum Corporation (NNPC) announced that it had secured a USD1.2 billion multi-year drilling financing package to contribute to the running of 36 oil wells across the country. The project is expected to deliver 21,000 barrels of crude condensate per day along with 120 million cubic feet of gas. Moreover, in Liberia, Exxon Mobile Corporation is planning to start oil drilling in its recently found oil reserves by 2018.
In 2014, US, which went from being a major importer of oil to being self-sufficient due to the revolution in shale production, was the world’s third largest producer of crude oil. The unconventional shale oil production is typically more expensive than conventional onshore production techniques. This is mainly due to the higher drilling and completion costs compared to that of traditional techniques. In addition to that, recent offshore oil and gas exploration activities in the Gulf of Mexico region and other regions around the world are increasingly moving towards the deepwater ocean regions. The deepwater oil field development generally occurs in the form of expensive, high-risk, long-duration drilling projects.
One of the key cost drivers of offshore drilling include water depth, well depth, reservoir pressure and temperature, field size, and distance from shore. It is estimated that for such deepwater activities, drilling cost typically represents about 30% to 40% of total well costs.
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Profiles of 113 companies operating in the Drill Pipe Market market, including revenue, employee count, and market positioning where available.
Showing 113 of 113 companies
TMK Group was established in 2001 with headquarters at Moscow, Russia. It has production sites in over 27 locations across three continents, and had 42,000 employees. It mainly operates in geographies such as Americas, Asia-Pacific, and Europe. The company operates in four broad business segments, namely products, solutions, sales & marketing and R&D. The segment products offer a broad array of operations such as oil country tubular goods (OCTG), line pipe, industrial pipe, welded large diameter pipe, premium connections, product catalogs, guidelines, quality, production processes and product order. They compete with manufactures such as DP Master Manufacturing Pvt Ltd. (China), Drill Pipe International Llc. (USA), Hilong Group. (China) and NOV (U.S.A).
Tenaris S.A. was established in 2001 and headquartered at Luxembourg City, Luxembourg. It has operational presence over 25 locations across four continents, and had 19,070 employees globally till December 2016.. The company has one major business segment, Tubes. OCTG Sub segment under products & services offers operations such as Casing and Tubing, Steel Grades, Premium Connections, Dopeless technology, Drill Pipe, Coiled Tubing, Oil and Gas Tools and Accessories.. They compete with manufactures such as DP Master Manufacturing Pvt Ltd. (China), Drill Pipe International Llc. (USA), Hilong Group. (China).
Oil Country Tubular Limited was established in 1985. At OCTL, the complete processing activity is concentrated in a single unique integrated Plant located at Narketpally, India. with corporate headquarters in Hyderabad, India. The facilities include Upsetting, Heat Treatment, Non-Destructive Testing, Metallurgical Laboratory, Gauging and Calibration Laboratory, Tool Joint and Coupling Threading, Casing and Tubing Threading, Friction Welding of Drill Pipe, Hydrostatic Testing, Collapse Pressure Testing and Internal Plastic Coating of Tubulars. The company operates in three broad business segments, namely, quality, products, and services. The products segment offers an array of products such as drill pipe, heavy weight drill pipe, drill collars, tubing, casing, high collapse casing, accessories and drill rods. They compete with manufactures such as DP Master Manufacturing Pvt Ltd. (China), Drill Pipe International Llc. (USA), Hilong Group. (China), NOV (U.S.A).
National Oilwell Valco (NOV) was established in 1841 has headquarters in Houston, Texas, United States. A Delaware corporation incorporated in 1995, it has operational presence over 1200 locations across six continents, and had 64,000 employees globally until 2014. The company operates in four broad business segments, namely Rig Systems, Rig Aftermarket, Completion and Production Solutions, and Wellbore Technologies. The Wellbore Technologies offers operations such as Drilling Intervention, Dynamic Drilling Solutions, Grant Pridecotm, Integrated Approach, Intelliserv, Turoscopetm and Wellsite Services. This segment reported a revenue of USD 2.2 billion in the FY 2016, accounting for 30% of the company’s revenue. They compete with manufactures such as DP Master Manufacturing Pvt Ltd. (China), Drill Pipe International Llc. (USA), Hilong Group. (China).
Drill Pipe International Llc was established in the year 1960 with its headquarters in Minneapolis, USA. The company is a manufacturer and supplier of drill pipes with supply to the global downhole industry. The company employs about 100 people and has two additional manufacturing facilities that manufacturer welding lines and tool joints at their facility at Baytown, Texas to meet the growing demand in the Downhole industry operations.. The company has operational presence in the North American region. In 2015, Drill pipe Inc., was acquired by Jindal Saw USA LLC., a subsidiary of the Jindal SAW group (India) to serve the oil and utility construction industries customers located throughout the world. They compete with other manufacturers such as Tenaris S.A, Vallourec S.A., Tejas Tubular Products Inc. and others. The company manufactures drill pipe, tool joint and pup joint and all their tubes are manufactured from green sources. Drill Pipe International Llc. pipe manufacturing capability ranges from 2 3/8" to 6 5/8" OD (Outer Diameter), with steel grades such as E, X, G, S in length Range 1, Range2, & Range 3. The products can be customized with special grade & length that are available on individual orders.
Hilong Group of Companies was established in the year 2002 with headquarters in Shanghai, China. Hilong Group has operational presence, majorly in China with established production bases in Tianjin, Shandong, Shanxi, Shaanxi, Northeast China, and Sichuan. In 2016, Hilong Group, a subsidiary of UMW Holdings (Malaysia), which also holds Arabian Drilling Services L.L.C., UMW Fabritech Sdn. Bhd. And Jiangsu Tube-Cote Shuguang Coating Co., Ltd. reported an annual revenue of USD 298.74 million. Though there was a global plummet in the oil prices in 2016, the oil field equipment and services segment successfully contributed USD 120.95 million for the company. Recently, the company has expanded its operational presence globally to regions such as North and South America, the Middle East, Russia, and Asia-Pacific with increased investment in petroleum and product manufacturing. The company has about 2,608 full-time employees. The company operates in business segments such as drilling tools, petroleum pipe coating, tube technology services along with oil and offshore engineering services. The company manufactures oil field equipment such as drill pipes, drill collars, mining drilling tool, and hard banding. The drilling products offered by the company cater to global specifications and steel grades of the API and conventional standards. Hilong Group competes with manufacturers such as DP Master Manufacturing Pvt Ltd. (China), Drill Pipe International Llc. (USA), National Oilwell Varco. (USA) and RK Pipe LLC. (USA) and others.
10 interactive charts drawn from the Drill Pipe Market dataset — market size, regional splits and each segment breakdown. Open one to read its full data table and download it.
Global Drill Pipe Market United States and Canada Of North America By Country
Global Drill Pipe Market Nigeria, Saudi Arabia, UAE, Brazil, Venezuela and Rest Of The World Of Rest Of The World
Global Drill Pipe Market United Kingdom, Norway, Russian Federation and Rest Of Europe By Country
Global Drill Pipe Market Australia, China, Indonesia, India and Rest Of Asia Pacific By Country
Global Drill Pipe Market By Region
Drill Pipe Market North America By Country
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Historical performance and future projections (2020–2030, USD Billion)
Market Size (USD Mn)
