Wired
Drill Pipe Industry Synopsis:
According to Market Research Future (MRFR)’s
assessment, the global wired drill pipe market
has been projected to strike a CAGR of 3.2% during the forecast period. The
market has been prognosticated to reach a valuation of USD 1.1 Bn towards the
end of 2023. The towering demand for real-time data from the wellbore is the primary factor responsible for
driving the growth of the Wired
Drill Pipe Industry over the next couple of years.
Wired drill pipes not only escalate transmission of data but also speeds up the assessment of the
transmitted data. It facilitates decision-making
process while reducing operational costs. This,
in turn, is anticipated to catalyze the growth of the wired drill pipe
market in the years to come.
The rising
activities in the exploration of shale gas are
forecasted to accelerate revenue creation for market participants. According to
a published statistical observation, the U.S. is projected to produce 33.35
trillion cubic feet of shale gas in the year 2050. The opportunities unleashed
by the exploration is likely to proliferate
the wired drilled pipe market through the projection
period. On the flip side, the high initial cost of setting up or
replacement of existing drill pipe is expected to check the expansion of the
market across the assessment period.
Wired
Drill Pipe Industry Segmentation:
By location, the global wired
drill pipe market has been segmented into onshore, and offshore.
By component type, the wired drill pipe market has been segmented into telemetry, electrical
conductors, electrical transmitters, pressure sensors, and others.
By Application, the global wired drill pipe market has
been segmented into data collection,
managed pressure drilling, and wellbore integrity in deep ultra-depleted
reservoirs.
Regional
Analysis:
The global wired drill pipe industry by region, has
been segmented into North America, Europe, Asia
Pacific, and the Rest of the World (RoW).
North America is
the largest market for wired drill pipes, majorly owing to the accelerated
shale gas exploration activities. The U.S. is presumed
to lead the expansion of the regional market in the years to come. The
region is presumed to account for around
40% of the world’s drilling activity at present. The report suggests that the
wired drill pipe market in North America is set to remain highly lucrative in
the foreseeable future. The region resonates an intensified need for the
replacement of conventional technology which is poised to drive the expansion
of the wired drill pipe market over the assessment period.
Competitive
Dashboard:
The important
players of the global wired drill pipe market profiled in this MRFR report are
Baker Hughes (U.S.), The Halliburton Company (U.S.), Schlumberger Limited
(U.S.), IntelliServ (NOV) (U.S.), and Weatherford International PLC (U.S.).
Related
Reports:
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