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Drill Pipe Market -Global Industry Analysis Report, Share, Size, Growth, Price Trends and Forecast,2016 – 2025

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Drill Pipe Market size is expected to reach USD 2.3 billion by 2025, according to a new research report by Global Market Insights, Inc.

Increasing conventional and unconventional resources drilling coupled with rising number of rig count will drive global drill pipe market size. Premium grade is expected to witness significant growth in future owing to its application in offshore exploration and production. These pipes can withstand under high temperature and pressure conditions. API grade drill pipes market is likely to grow over CAGR of 2.5% owing to its cost effectiveness.

Offshore drill pipe market share was valued at over USD 890 million in 2015 and is predicted to grow at a CAGR of 3.2%. Increasing offshore drilling will further compliment industry demand. Offshore exploration and production projects are continuously running in Myanmar. In April 2016, Total launched 2D seismic survey in Yetagun West Block.

Global Market Scenario of Drill Pipe industry

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Gazprom is planning to produce over 1.1 billion cubic meter of natural gas from Kirinskoye field in Russia and China national offshore oil corporation has started oil production from Pearl river mouth basin in South China sea.

Ongoing onshore exploration and production will favor drill pipe market size growth during 2015 to 2025 period. DEA is planning to spend over USD 1 billion to develop Davlin natural gas field of Norway, predicted to produce approx. 18 billion cubic meter of natural gas by 2020.

Increasing shale gas exploration and production will favor the growth of the U.S. drill pipe market size over forecast time frame. Canada was valued at over USD 130 million in 2015 and is expected to grow over a CAGR of 2.1% in the near terms

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U.S. Drill Pipe market size, by grade, by revenue (USD Million), 2013-2025

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Latest Research Report On Drill Pipe Market@ https://www.gminsights.com/industry-analysis/drill-pipe-market

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