Global Drill Pipe Market Size & Outlook, 2022-2030
Global drill pipe market, 2018-2030 (US$M)
Related Markets
Global drill pipe market highlights
- The global drill pipe market generated a revenue of USD 2,406.5 million in 2022 and is expected to reach USD 2,895.2 million by 2030.
- The market is expected to grow at a CAGR (2023 - 2030) of 2.3% by 2030.
- In terms of segment, api grade accounted for a revenue of USD 1,520.7 million in 2022.
- Premium Grade is the most lucrative grade segment registering the fastest growth during the forecast period.
- In terms of region, MEA was the largest revenue generating market in 2022.
- Country-wise, Russia is expected to register the highest CAGR from 2023 to 2030.
Global data book summary
| Market revenue in 2022 | USD 2,406.5 million |
| Market revenue in 2030 | USD 2,895.2 million |
| Growth rate | 2.3% (CAGR from 2022 to 2030) |
| Largest segment | Api grade |
| Fastest growing segment | Premium Grade |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | API Grade, Premium Grade |
Other key industry trends
- In terms of revenue, the North America accounted for 26.1% of the global drill pipe market in 2022.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, Russia is the fastest growing regional market and is projected to reach USD 249.8 million by 2030.
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Drill Pipe Market Scope
Drill Pipe Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global drill pipe market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to drill pipe market will help companies and investors design strategic landscapes.
Api grade was the largest segment with a revenue share of 63.19% in 2022. Horizon Databook has segmented the Global drill pipe market based on api grade, premium grade covering the revenue growth of each sub-segment from 2018 to 2030.
Increasing disposable income and economic growth have led to an increase in energy demand globally, especially in the non-OECD Asia Pacific and Latin America. In addition, increased supply sufficiency coupled with energy sustainability and security has further escalated the energy demand globally.
Increasing primary energy demand has impacted petroleum E & P activities. As the global energy demand is escalating, the conventional sources of oil & gas are being depleted at the expense of future energy demands. The global demand for natural gas is expected to grow at a significant rate, with the majority of growth in non-OECD countries outpacing the OECD demand growth. This is expected to increase the dependence on exploited conventional sources.
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Our clientele includes a mix of drill pipe market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of global-level data and insights on the Global drill pipe market , including forecasts for subscribers. This global databook contains high-level insights into Global drill pipe market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Global drill pipe market size, by region, 2018-2030 (US$M)
Top 10 countries: Drill pipe market size, 2022 (US$M)
Global drill pipe market share, by grade, 2022 & 2030 (%, US$M)
Drill pipe market: Opportunity assessment by country
Global drill pipe market, by region, 2022 (US$M)
| Grade | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 673.3 | 706.2 | 579.1 | 603.2 | 628.1 | 576.4 | 599.3 | 622.8 | 646.7 | 670.8 | 695.0 | 719.4 | 744.1 | 2.1% |
| Europe | 496.7 | 517.9 | 422.1 | 437.1 | 452.4 | 412.7 | 426.4 | 440.4 | 454.4 | 468.4 | 482.2 | 495.9 | 509.6 | 1.5% |
| Asia Pacific | 391.7 | 417.0 | 347.0 | 366.8 | 387.5 | 360.7 | 380.3 | 400.8 | 422.0 | 443.7 | 466.0 | 488.9 | 512.5 | 3.6% |
| Latin America | 212.8 | 224.6 | 185.4 | 194.5 | 203.8 | 188.3 | 197.1 | 206.2 | 215.5 | 225.0 | 234.6 | 244.5 | 254.5 | 2.8% |
| MEA | 785.7 | 824.6 | 676.5 | 705.2 | 734.7 | 674.6 | 701.9 | 729.9 | 758.3 | 787.0 | 816.0 | 845.1 | 874.7 | 2.2% |
| Overall | 2,560.2 | 2,690.2 | 2,210.1 | 2,306.8 | 2,406.5 | 2,212.7 | 2,305.1 | 2,400.2 | 2,496.9 | 2,594.8 | 2,693.9 | 2,793.8 | 2,895.2 | 2.3% |
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