Market Size (2015)
2015
$936.90M
Energy & Power
Drill Pipe Market
By Segment, By Region, And Segment Forecasts, 2015 – 2023
Vertical: EnPBase Year: 201610 Sections
Executive Summary
Drill Pipe Market — Snapshot
Projected (2023)
2023
$1.21B
CAGR (2015–2023)
3.3%
3.3%Key Players
113+
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
3.47%
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)
Key Insight
The Drill Pipe Market market is projected to grow at a CAGR of 3.3% from 2015 to 2023.
Market Performance Trend
Historical performance and future projections (2020–2030, USD Billion)
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View Subscription PlansMarket Scope & Coverage
What this report covers
- Geographic Coverage: This analysis covers 4 regions: Asia Pacific, Europe, Rest of the World, North America.
- Market Segmentation: The market is analyzed across 2 segments: API Grade, Premium Grade. Forecasts are provided for each segment from 2015 to 2023.
- Competitive Landscape: 113 leading companies are profiled, covering market positioning, strategies, and recent developments.
Market Size (USD Mn)
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View Subscription PlansMarket Overview
Drill Pipe Market — Growth Trajectory
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.
Drill Pipe Market — Growth Trajectory
API Grade
Premium Grade
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View Subscription PlansMarket Size Trend (USD Mn)
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View Subscription PlansMarket Dimensions
How this market is segmented
- Grade Grade is broken down into: API Grade, Premium Grade.
- Application Application is broken down into: Onshore, Offshore.
Geographic Analysis
Regional market breakdown
- Asia Pacific Asia Pacific market size reached $127.10M in 2015 and is projected to reach $157.80M by 2023, growing at a CAGR of 2.7%.
- Europe Europe market size reached $189.50M in 2015 and is projected to reach $242.70M by 2023, growing at a CAGR of 3.1%.
- Rest of the World Rest of the World market size reached $256.90M in 2015 and is projected to reach $311.30M by 2023, growing at a CAGR of 2.4%.
- North America North America market size reached $363.30M in 2015 and is projected to reach $501.80M by 2023, growing at a CAGR of 4.1%.
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View Subscription PlansResearch Methodology
Drill Pipe Market — How We Researched This Market
This 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 – 2016
Forecast Period
2016 – 2023
Primary Interviews
150+
Research Process
Historical data (2015–2016) and forecast period (2016–2023)
1
Problem Definition
- Market scoping
- Objective setting
- Framework design
2
Secondary Research
- Literature review
- Data mining
- Trend analysis
3
Primary Research
- Expert interviews
- Field visits
- Surveys
4
Data Analysis
- Quantitative modeling
- Statistical testing
- Validation
5
Insights & Reporting
- Synthesis
- Recommendations
- Visualization
Research Depth
Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.
Historical vs. Forecast Data
Historical (observed)
Forecast (modelled)
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Regional Breakdown
Regional market breakdown for Drill Pipe Market.
Regional Market Size (USD Mn)
Market estimates by geography (2023)
USD Mn
InsightNorth America leads with $501.80M by 2023.
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View Subscription PlansRegional Market Data
| 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 PlansSegment Revenue (2023)
API Grade
Premium Grade
0209419628837
Segment Market Share
- API Grade74%
- Premium Grade26%
Total Market Size
$1.03B
Market by Segment (2023)
| APPLICATION | REVENUE ($B) | GROWTH RATE | MARKET PENETRATION |
|---|---|---|---|
| API Grade | $760.50M | 3.3% | 60% |
| Premium Grade | $265.20M | 3.3% | 61% |
* 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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Analytics
Drill Pipe Market — Key Findings
Analytical insights on Drill Pipe Market covering market dynamics, competitive landscape, and strategic outlook.
Key Analytical Findings
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.
Market Dynamics
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.
Market Drivers
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.
Market Opportunities
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.
Market Restraints
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.
Strategic Outlook and Future Directions
Near-term growth will likely concentrate in modular bioreactor lines and closed-system media workflows that shorten validation cycles while preserving batch traceability.
Partnerships between CDMOs and instrumentation vendors should accelerate standard datasets for comparability across sites, improving forecasting models used in capacity planning.
Longer horizon, organoid and microphysiological adoption may reshape segment mix; teams that invest early in assay interoperability and cloud QC hooks are better positioned to capture upside without fragmenting their analytics stack.
Market Value by Segment (2023)
Value (USD Mn)
API Grade
Premium Grade
Companies
Key companies profiled in Drill Pipe Market
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
Vallourec
Vallourec S.A (France)
Energy & Power
Vallourec S.A was established in 1957 and headquartered at Boulogne-Billancourt, France. It has operational presence in more than 20 countries, and had 19,000 employees globally till 2016. The company operates in three broad business segments, namely Oil & Gas, Power Generation and Industry. Oil & Gas offers operations such as OCTG Products, Drilling Products, SURF (Subsea Umbilicals, Risers & Flowlines), Hydrocarbon processing tubes, Wielding Solutions and Fittings. This segment reported a revenue of USD 2,023 billion in the FY 2016, accounting for 64.8% of the company’s revenue. It competes with manufactures such as DP Master Manufacturing Pvt Ltd. (China), Drill Pipe International Llc. (USA), Hilong Group. (China), and NOV (USA).
RevenueN/A
EmployeesN/A
Market CapN/A
FoundedN/A
United States, North America
TPS TECHNI
TPS TECHNITUBE RÖHRENWERKE GmbH. (Germany)
Energy & Power
TPS-Technitube Röhrenwerke GmbH belongs to TechniGroup. TPS Technitube Pipe & Steel (founded in 1975),, and TechniSat Digital GmbH (founded in 1987) unified in 2010, within the TechniRopa Holding GmbH, which is now headquartered at Daun, Germany. In total the TechniGroup employs approx. 1550 people. The company operates in two broad business segments, namely products & services and industries & applications. The products & services segment offers seamless tubes & pipes, welded tubes & pipes, U-tubes & tube bending, OCTG products & services, fin & studded tubes, plates, tubesheets & bars, fittings, flanges & forgings, piping accessories, structural steel, piping packages for projects and overrollings - stock list. It majorly competes with manufactures such as DP Master Manufacturing Pvt Ltd. (China), Drill Pipe International Llc. (USA), Hilong Group. (China), TMK Group. (Russia). and NOV (U.S.A).
RevenueN/A
EmployeesN/A
Market CapN/A
FoundedN/A
United States, North America
TMK Group.
TMK Group. (Russia)
Energy & Power
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).
Revenue$6.0B
EmployeesN/A
Market CapN/A
FoundedN/A
United States, North America
Texas Stee
Texas Steel Conversion Inc. (USA)
Energy & Power
Texas Steel Conversion Inc. was established in 1976 with headquarters at Houston, Texas, U.S. Since then Texas Steel Conversion, Inc. (TSC, Inc.) has become the premier processor of oil country tubular goods and the preferred manufacturer of drill pipe. TSC, Inc. began operations with one plant in Houston, Texas and has now expanded to four plants throughout Southeast Texas, including a state-of-the-art full processing tubing facility designed to achieve quicker turn-around times by maximizing efficiency. The company operates in four broad business segments, namely products, services, quality and pick up/delivery. The products segment offers premium tubing & pup joints, EUE tubing & pup joints, casing, mechanical tubing/coupling material, drill pipe and heavy weight drill pipe. They compete with manufactures such as DP Master Manufacturing Pvt Ltd. (China), TMK Group (Russia), Hilong Group. (China) and NOV (U.S.A).
RevenueN/A
EmployeesN/A
Market CapN/A
FoundedN/A
United States, North America
Tenaris S.
Tenaris S.A. (Luxembourg)
Energy & Power
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).
Revenue$10.3B
EmployeesN/A
Market CapN/A
FoundedN/A
United States, North America
Tejas Tubu
Tejas Tubular Products Inc. (USA)
Energy & Power
Tejas Tubular Products Inc. was established in 1990 and headquartered at Houston, USA. It acquired Caporal Industries, Stephenville, U.S. in 2003 and began processing macaroni tubing. Tejas Tubular Products Inc. built and opened casing facility in 2005 to process larger diameter API casing and in 2011 it opened the ERW tubing plant in Stephenville, U.S. Tejas Tubular has processed more than 14 million joints of tubing or casing. The company operates in two broad business segments, namely Production and Drilling. The Drilling segment offers operations such as Drilling Pipes and Drilling Accessories. The three Tejas Tubular production facilities manufacture a wide range of oilfield tubular products that conform to the American Petroleum Institute (API) specification, 5CT and 5DP. Tejas Tubular integrated production facilities deliver a complete range of oil field products that include casing, tubing and macaroni tubing, production accessories, drill pipe, drill collars, spiral drill collars, heavy weight drill pipe and drilling accessories.
RevenueN/A
EmployeesN/A
Market CapN/A
FoundedN/A
United States, North America
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I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
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R&D Director, Seojin
Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Akif Moroglu
Strategy & Business Development Director, Dogan Holding
We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.
Noah Malgeri
Co-Founder, Mojave Rail Fabrication Limited
This is really good guys. Excellent work on a tight deadline. I will continue to use you going forward and recommend you to others. Nice job.
Michael Robert
Manager, JavolVision
Thanks, I am so happy that we worked together. Maybe we still can work together in the future.
Joseph Aguayo
Sales Operations & Pricing Manager, Intel
Thanks. It's been a pleasure working with you, please use me as reference with any other Intel employees.
Bong Lau
Sales Leader, Bamberg
We bought your "2025 report" in 2020. Everything is fine and very good.
Peter Groot Koerkamp
Account and Business Manager, EFS-Holland BV
Thanks for sending the report it gives us a good global view of the Betaïne market.
Younghwan Choi
Senior Retail Manager, LG Chem
We found the report very insightful! we found your research firm very helpful. I'm sending this email to secure our future business.
Mark Irwin
Management Consultant, Level 21
I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.
Rob Kooiker
Group Product Manager HVAC & Fire Protection GMA, Rockwool
I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
Jason Lee
R&D Director, Seojin
Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Akif Moroglu
Strategy & Business Development Director, Dogan Holding
We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.
Drill Pipe Market
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