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 sudden challenges created by the ongoing
COVID-19 are captured effectively to exhibit the long term growth projections
in the MRFR report on Wired Drill Pipe Market. The growth sectors of the Wired
Drill Pipe Market are identified with precision for a better growth
perspective.
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.
Segmentation
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.
Competitive Analysis
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.).
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Research Future
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