Drill Pipe Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The market is segmented by Type (Standard Drill Pipe, Heavy Weight Drill Pipe and Drill Collar), Deployment (Onshore and Offshore), and Geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa)

Market Snapshot

Drill Pipe Market Overview
Study Period: 2016 - 2026
Base Year: 2021
Fastest Growing Market: Middle-East and Africa
Largest Market: North America
CAGR: >3 %
Drill Pipe Market Major Players

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Market Overview

The drill pipe market is expected to grow at a CAGR of over 3% during the forecast period of 2020 – 2025. Factors such as increased exploration activity and focus on development of new oil and gas fields, are expected to help drive the market for drill pipe. However, the volatile nature of oil prices in recent years led to decreased exploration activity causing a slowdown for the drill pipe market.

  • The onshore is expected to have the maximum share in the market. Onshore drilling encompasses all the drilling sites located on dry land and accounts for 70% of worldwide oil production.
  • The demand for oil and gas production have always been on an increase, which have led to increased exploration activities, this in turn is expected to help grow the market in the forecast period. The total rig count increased by 18% from 933 in beginning of 2017 to 1104 by the end of 2019, in the same time period the offshore rig count increased by 24% from 206 to 257.
  • North America is the biggest market for drill pipe, owing to the increased drilling activity in shale plays in the region. The recent development of shale plays, horizontal drilling and fracking have resulted in a increase in demand of drill pipe in the region.

Scope of the Report

The drill pipe market report include:

Standard Drill Pipe
Heavy Weight Drill Pipe
Drill Collar
North America
South America
Middle-East and Africa

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Key Market Trends

Onshore to Dominate the Market

  • The global market for drill pipe saw a growth slowdown owing to the volatile oil prices in recent years, but with the oil prices becoming stable the market is expected to show a growth in the forecasted period.
  • Onshore oil production accounts for around 70% of the global oil production. Increased onshore exploration activity worldwide in the forecasted period is expected to help grow the market for drill pipe.
  • Almost all the easy oil being already discovered the wells now being drilled are deeper and more complex than before, this have led to a growth in drill pipe market.
  • In 2019, ONGC announced that it had allotted INR 6,000 crore in drilling 200 wells over the next seven years in Assam to increase the output from the state. The wells are expected to be drilled during the next seven years. 
  • As the crude oil prices are increasing, the upstream investment is expected to grow significantly and bring several projects online, thereby, driving the market.
Drill Pipe Market key Trends

North America to Dominate the Market Growth

  • North America is a major market for drill pipe, owing to the recent shale gas exploration in the region in recent years. Exploration in Gulf of Mexico is also on rise further complimenting the drill pipe market in the region.
  • According to Canadian government report published in 2018, oil production from Canada is anticipated to reach 4.5 mmbpd by 2020, and production is expected to increase from an offshore well situated in the West Orphan Basin, offshore Newfoundland, and Labrador, which is estimated to hold 25.5 bbl of oil and 20.6 tcf of gas. 
  • As a result of higher oil prices and declining drilling cost, the offshore rig count and offshore oil production in the United States has increased significantly, indicating growing offshore drilling which is expected to be the major driver for the drill pipe market in the country. 
  • Therefore, factors such as rising oil and gas investments along with development of shale plays are expected to give a growth to the drill pipe market in the forecasted period. 
Drill Pipe Market Growth Rate

Competitive Landscape

The drill pipe market is partially fragmented with a lot of active players. Some of the key players being Hunting PLC, National-Oilwell Varco, Inc., Workstrings International, International Drilling Services Ltd. (IDS), Hilong Holding Ltd, Tenaris S.A., Trubnaya Metallurgicheskaya Kmpny PAO among others. 

Table of Contents


    1. 1.1 Scope of the Study

    2. 1.2 Market Definition

    3. 1.3 Study Assumptions




    1. 4.1 Introduction

    2. 4.2 Market Size and Demand Forecast, in USD billion, till 2025

    3. 4.3 Active Rig Count, till 2019

    4. 4.4 Historic and Demand Forecast of Upstream CAPEX in USD billion, by Onshore and Offshore, 2017-2025

    5. 4.5 Recent Trends and Developments

    6. 4.6 Market Dynamics

      1. 4.6.1 Drivers

      2. 4.6.2 Restraints

    7. 4.7 Supply Chain Analysis

    8. 4.8 Porter's Five Forces Analysis

      1. 4.8.1 Bargaining Power of Suppliers

      2. 4.8.2 Bargaining Power of Consumers

      3. 4.8.3 Threat of New Entrants

      4. 4.8.4 Threat of Substitutes Products and Services

      5. 4.8.5 Intensity of Competitive Rivalry


    1. 5.1 Type

      1. 5.1.1 Standard Drill Pipe

      2. 5.1.2 Heavy Weight Drill Pipe

      3. 5.1.3 Drill Collar

    2. 5.2 Deployment

      1. 5.2.1 Onshore

      2. 5.2.2 Offshore

    3. 5.3 Geography

      1. 5.3.1 North America

      2. 5.3.2 Europe

      3. 5.3.3 Asia-Pacific

      4. 5.3.4 South America

      5. 5.3.5 Middle-East and Africa


    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Strategies Adopted by Leading Players

    3. 6.3 Company Profiles

      1. 6.3.1 Hunting PLC

      2. 6.3.2 Hilong Group

      3. 6.3.3 International Drilling Services Ltd. (IDS)

      4. 6.3.4 TMK Group

      5. 6.3.5 National Oilwell Varco, Inc. (NOV)

      6. 6.3.6 Tenaris S.A.

      7. 6.3.7 Drill pipe international LLC

      8. 6.3.8 Oil Country Tubular Limited

      9. 6.3.9 Workstrings International

      10. 6.3.10 Texas Steel Conversion, Inc. (TSC)

      11. 6.3.11 Tejas Tubular Products, Inc.

      12. 6.3.12 DP Master Manufacturing (S) Pte Ltd

      13. 6.3.13 Challenger International, Inc.

    4. *List Not Exhaustive

**Subject to Availability

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Frequently Asked Questions

The Drill Pipe Market market is studied from 2016 - 2026.

The Drill Pipe Market is growing at a CAGR of >3% over the next 5 years.

Middle-East and Africa is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Hilong Holding Ltd, Hunting PLC , Trubnaya Metallurgicheskaya Kmpny PAO, Tenaris SA, National-Oilwell Varco, Inc. are the major companies operating in Drill Pipe Market.

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