Wired Drill Pipe Market Share 2020 Development Status, Regional Trends till 2023
Posted by Anvi on March 26th, 2020
Drill pipes are one of the most important component of these drilling activity. Wired drill pipes are an advancement to the traditional drill pipes as they transmit real time data about the drilling operations. As per the study conducted by Market Research Future, the global market for Wired Drill Pipes is likely to grow at the CAGR of around 3.2% during the forecasted period.Techniques such as horizontal drilling and vertical drilling has enabled new oil discoveries onshore and several new investments are continuously made in these exploration activities.
The global oil prices have recovered from their slump in prices in recent times and many major companies are involved again in oil exploration and drilling services. With the North Sea oil drying up and most of the offshore facilities in Gulf of Mexico reaching the end of their lifetime, oil majors such as BP, Shell and Exxon Mobil are increasingly investing in exploring new areas for oil production. Furthermore, drilling activity and technology has witnessed a tremendous boom with onshore drilling activity referred as shale oil production.
Global Wired Drill Pipes Market has been fragmented on the basis of product type, by applications and by region.
By product type, the market has been fragmented as DC Surface Suction, AC Submersible, DC Submersible and AC Floating pumps. On the basis of location, the drilling activities are increasingly happening in both onshore and offshore areas. Especially deep water type offshore drilling is expected to drive the market as several new exploration and drilling projects are carried in that region. Also, in horizontal drilling operations carried out across two sites in similar locations, Wired Drill Pipes can help share data in real time which will enable faster drilling activity and data collection.
The Wired Drill Pipes Market Share is anticipated to have enormous amount of developments during the forecast period, due to increased drilling activities especially in geographically difficult areas. The market is also likely to have huge growth prospect in the North America region and in the African region as these regions are currently witnessing a huge oil and gas drilling activities.
The key players of the Global Wired Drill Pipes Market are Schlumberger Limited (U.S.), The Halliburton Company (U.S.), IntelliServ (NOV) (U.S.), Baker Hughes (U.S.) and Weatherford International PLC (U.S.).
Scope of the Report
The report for Global Wired Drill Pipe Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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About the AuthorAnvi
Joined: October 25th, 2019
Articles Posted: 461
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