Oil and Gas Conductor Pipe Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

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Oil and Gas Conductor Pipe Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

Status : September, 2021 | Energy & Mining

Report Digest


Global Oil and Gas Conductor Pipe Market: Snapshot

The oil and gas conductor pipe market is expected to observe expansive growth across the assessment period of 2020-2030. The increasing activities related to offshore and onshore drilling are one of the most prominent reasons of growth for the oil and gas conductor pipe market. The rising consumption of oil and gas is also prognosticated to bring tremendous growth opportunities for the oil and gas conductor pipe market.

The rapid depletion of non-renewable resources is urging many governments to promote the use of renewable energy. This factor will indirectly have a large influence on the growth of the oil and gas conductor pipe market. An increase in the number of deep-water and ultra-deep water projects will invite exponential growth. The booming construction industry and the drilling activities related to building structures will bring enormous growth prospects.

Research and development activities are crucial for the growth of the oil and gas conductor pipe market. The players invest extensively in these activities for deriving formulations and insights that help in the overall growth of the oil and gas conductor pipe market. These activities help in increasing the revenues of the players in the oil and gas conductor pipe market, ultimately contributing to the growth.

The COVID-19 outbreak has caused great distress across many sectors and businesses. The oil and gas conductor pipe market is no exception. The increasing transmission of the virus led to the enforcement of strict lockdown restrictions that resulted in closure of manufacturing facilities and production units. This aspect ruined the growth projections of the oil and gas conductor pipe market to a considerable extent.

However, with the phased reopening of businesses due to the large economic impact on numerous countries, the demand for oil and gas conductor pipes has been stabilized. Thus, the players in the oil and gas conductor pipe market expect a stable growth landscape between 2020 and 2030.

Global Oil and Gas Conductor Pipe Market: Overview

Oil and gas conductor pipes are used by oil and gas companies, world over, for onshore and offshore drilling. The use of these pipes has correlated directly with the rise in number of directional as well as conventional drilling projects by oil and gas companies. Growing potential of profit generation in the deepwater and ultra-deepwater oil resources has propelled investment in oil and gas conductor pipes. Growing demand for better well drilling equipment for oil and gas companies for challenging projects is fueling the evolution of the global oil and gas conducting pipe market. Over the past few years, various countries have witnessed recovery in the prices of crude oil, thereby increasing the application of oil and gas conductor pipes.

The report takes a closer look at the current outlook, promising avenues in various product segments, and major manufacturing advances in key regions. The insights are an-evidence guide for new entrants and incumbent players to frame their strategies to chase lucrative investment pockets in the global oil and gas conducting pipe market.

Global Oil and Gas Conductor Pipe Market: Notable Developments

Over the past few years, deepwater and ultra-deepwater hydrocarbon projects have proliferated in numbers. The projects are supported by rising rig counts in several countries. Especially oil- and gas-directed rigs have witnessed spikes in recent weeks in the U.S. in its major oil- and gas-producing states. This undoubtedly has made positive impact on the global oil and gas conductor pipe market.

Giving the ever-rising demand for gas in various end-use industries, various countries have been expanding their oil and gas explorations in deepwater and ultra-deepwater fields, thus propelling the use of oil and gas conductor pipes. A significant part of these initiatives is motivated by their efforts to up natural gas production to meet the regional demands. The excitement in this direction has been fueled notably by ultra-deepwater semi-submersible projects.

An ultra-deepwater semi-submersible rig, Mærsk Deliverer, has bagged a three-year contract for drilling in the Ichthys gas field and parts of the Browse Basin offshore Western Australia. The lone-term contract will commence in Q2 of 2020. Such contracts have a significant bearings on the global market.

Companies desiring at the helm of business developments in the global oil and gas conductor pipe market include Cenergy Holdings, OAO TMK, Tenaris, Sumitomo, and Mertex UK. Some prominent players are suppliers of oil and gas conduction pipes.

Global Oil and Gas Conductor Pipe Market: Key Growth Dynamics

The global oil and gas conductor pipes market in garnering substantial revenues from growing number of onshore and offshore drilling activities. Rise in weekly rig count over the past few weeks is a notable factor is bolstering the demand for conductor pipes. Rapidly increasing number of offshore deepwater and ultra-deepwater drilling projects worldwide is fueling the demand for oil and gas conductor pipes.             

The global demand for oil and gas conductor pipes has also been accentuated by the need for sturdy oil well drilling equipment for challenging drilling projects. Growing number of long-term contracts especially for offshore drilling augurs well for the oil and gas conductor pipe market. 

Global Oil and Gas Conductor Pipe Market: Regional Assessment

Some of the key regional markets for oil and gas conductor pipes could be Asia Pacific (APAC), Europe, the Middle East and Africa (MEA), and the Americas. This is in part attributed to rapidly rising use of oil and gas conductors in onshore drilling activities in several parts of these regions. In particular, the Americas has shown a considerable potential in recent years, propelled by the growing number of deepwater exploration areas. The presence of large recoverable resources in North America, especially in the U.S. Gulf of Mexico is expected to contribute generous quantum of revenues to the global oil and gas conductor pipe market.

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

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TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?