Drill Pipe :
Drill Pipe is an drilling equipment used in exploration and extraction of oil. It is basically an oilfield equipment which is most of the times rented by oilfield service providers.
Drill pipes are generally rented owing to the high
cost of oilfield equipments and this leads to drill pipe rental market
share to increase seemingly globally.
The Oilfield Equipments can be divided into :
- Drilling Equipment (Drill pipes and Drill collars)
- Pressure and Flow Control Equipments (BOP and Valves)
- Fishing equipments
The Oilfield Rental Equipments revenue share by geography, which is dominated by Drilling Equipments (Drill Pipe) is shown below in figure.
Oilfield Rental Market Share, by Geography, 2012
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| Source: MarketsandMarkets Analysis |
Market Trends and Forecast :
The Drill Pipe Market trends are influenced and affected by following facts:
- Rising oil and gas prices along with the increasing energy demands globally.
- High rate of drilling activities.
- Advancements in Technology periodically in short time.
The Major players in market for renting Oilfield Equipments are Halliburton Co. (U.S.), Oil States International Inc. (U.S.),
Schlumberger Ltd (U.S.), Superior Energy Services Inc. (U.S.), and
Weatherford International Ltd. (Switzerland).
The Oilfield Rental Market is expected to poise to USD 46.8 billions by 2018 where drill pipe market accounts for major revenue generating market globally. North America is market leader in this segment. The drill market is estimated to grow at huge rate in coming next five years.
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