Drill Pipe Global Market Report 2026

A drill pipe is a seamless steel tube constituting the drill string and serves as a fundamental component of the entire drill string. It possesses a hollow structure, facilitating the circulation of drilling fluid through the bit and the annulus, both upward and downward through the hole.

The primary types of drill pipes include standard drill pipes, heavy-weight drill pipes, and drill collars. The standard drill pipe, constituting the major portion of the drill string, is a lengthy tubular element. Various materials, including alloys, composites, and others, are utilized for offshore and onshore applications in diverse industries such as oil and gas, mining, agriculture, and others.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs on steel, alloys, and composite materials have impacted the drill pipe market by raising raw material costs and affecting supply chains, particularly in regions such as north america, europe, and asia-pacific. Segments like premium drill pipes, heavy weight drill pipes, and composite drill collars are most affected due to reliance on imported materials. Positive impacts include promoting domestic manufacturing, encouraging local sourcing, and accelerating innovation in high-performance drill pipes.

The drill pipe market research report is one of a series of new reports from The Business Research Company that provides drill pipe market statistics, including drill pipe industry global market size, regional shares, competitors with a drill pipe market share, detailed drill pipe market segments, market trends and opportunities, and any further data you may need to thrive in the drill pipe industry. This drill pipe market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The drill pipe market size has grown strongly in recent years. It will grow from $1.56 billion in 2025 to $1.64 billion in 2026 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to increasing exploration and production activities in oil and gas, rising demand for steel-based drill pipes, adoption of conventional heavy weight drill pipes, growth in onshore drilling operations, expansion of mining and agriculture industries.

The drill pipe market size is expected to see strong growth in the next few years. It will grow to $2.07 billion in 2030 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to increasing offshore drilling projects, rising adoption of enhanced heavy weight drill pipes, demand for advanced materials and composites, expansion of mining and agriculture applications, adoption of premium and high-performance drill pipes. Major trends in the forecast period include rising adoption of premium and api standard drill pipes, increasing use of composite and non-magnetic drill collars, expansion of offshore drilling activities, growth in onshore mining and agriculture applications, demand for high-performance drill pipe materials.

The anticipated growth of the drill pipe market is expected to be driven by the increasing operations of drilling rigs. A drilling rig, which serves as an integrated system, is designed for penetrating the subsurface to create wells, including those for water or oil extraction, as well as holes for various construction purposes. Drill pipes, a type of pipeline used on these rigs, are hollow, thin-walled tubes typically made of steel or aluminum alloy. As an illustration, in February 2023, Baker Hughes Company, a US-based oil field services company, reported a rise in the number of drilling rigs operating in the US, reaching 761 rigs for the week ending February 10. This marked an increase of 126 units from the 635 rigs operating at the same time the previous year. Consequently, the growth in drilling rig operations is a significant driver for the drill pipe market.

Major companies in the market are responding to evolving industry needs by developing innovative products such as the drill pipe swivel to enhance drilling efficiency, safety, and overall performance. The drill pipe swivel is a mechanical device used in drilling operations, enabling the rotation of the drill string while facilitating the flow of drilling mud, ensuring controlled and efficient drilling in the oil and gas sector. In May 2023, Deep Casing Tools, an energy development company based in Scotland, launched MechLOK-T, a fully mechanical drill pipe swivel designed to address challenges related to friction and buckling, particularly in long, horizontal extended reach drilling (ERD) wells. This advanced tool enhances efficiency, reliability, and offers significant time and cost savings by allowing operators to reach target depths on the first attempt. Operating independently of hydraulics, MechLOK-T effectively reduces drag, redistributes friction, and mitigates helical buckling of the work-string, enabling successful completions in complex well environments.

In June 2023, Knight Energy Services, a U.S.-based oilfield rental equipment company, acquired Platinum Pipe Rentals for an undisclosed sum. This acquisition aligns with Knight Energy Services' strategy of growth through consolidation within the energy sector, allowing the company to expand its service offerings and strengthen its position as a leading provider of rental tools for the oil and gas industry. Platinum Pipe Rentals, also based in the U.S., specializes in supplying drill pipes.

Major companies operating in the drill pipe market report are Hilong Group of Companies Ltd., Oil Country Tubular Ltd., Texas Steel Conversion Inc., Drill Pipe International LLC, National Oilwell Varco Inc., Tejas Tubular Products Inc., Tenaris S.A, TMK Steel Limited, DP-Master Manufacturing Ltd, Hunting PLC, Challenger International Inc, Premier Drill Products LLC, Vallourec SA, Jiangyin Long Bright Drill Pipe Manufacture Co. Ltd., TPCO Enterprise Inc., Superior Drillpipe Manufacturing Inc., ILJIN Steel Corporation, EVRAZ North America, JFE Steel Corporation, Shandong Molong Petroleum Machinery Co. Ltd., Shanxi Fenglei Drilling Tools Co. Ltd.

North America was the largest region in the drill pipe market in 2025.Middle-East and Africa are expected to be the fastest-growing region in the global drill pipe market report during the forecast period. The regions covered in the drill pipe market are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the drill pipe market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The drill pipe market consists of sales of drill strings, N-class pipes, P-class pipes, and C-class pipes. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Drill Pipe Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses drill pipe market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for drill pipe ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The drill pipe market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market. This section also examines key products and services offered in the market, evaluates brand-level differentiation, compares product features, and highlights major innovation and product development trends.
• The supply chain analysis section provides an overview of the entire value chain, including key raw materials, resources, and supplier analysis. It also provides a list competitor at each level of the supply chain.
• The updated trends and strategies section analyses the shape of the market as it evolves and highlights emerging technology trends such as digital transformation, automation, sustainability initiatives, and AI-driven innovation. It suggests how companies can leverage these advancements to strengthen their market position and achieve competitive differentiation.
• The regulatory and investment landscape section provides an overview of the key regulatory frameworks, regularity bodies, associations, and government policies influencing the market. It also examines major investment flows, incentives, and funding trends shaping industry growth and innovation.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
• The total addressable market (TAM) analysis section defines and estimates the market potential compares it with the current market size, and provides strategic insights and growth opportunities based on this evaluation.
• The market attractiveness scoring section evaluates the market based on a quantitative scoring framework that considers growth potential, competitive dynamics, strategic fit, and risk profile. It also provides interpretive insights and strategic implications for decision-makers.
• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
• Expanded geographical coverage includes Taiwan and Southeast Asia, reflecting recent supply chain realignments and manufacturing shifts in the region. This section analyzes how these markets are becoming increasingly important hubs in the global value chain.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The company scoring matrix section evaluates and ranks leading companies based on a multi-parameter framework that includes market share or revenues, product innovation, and brand recognition.

Scope

• Markets Covered:1) By Type: Standard Drill Pipes; Heavy Weight Drill Pipes; Drill Collars
• 2) By Material: Alloys; Composites; Other Materials
• 3) By Application: Offshore; Onshore
• Subsegments:
• 1) By Standard Drill Pipes: API Standard Drill Pipes; Premium Drill Pipes
• 2) By Heavy Weight Drill Pipes: Conventional Heavy Weight Drill Pipes; Enhanced Heavy Weight Drill Pipes
• 3) By Drill Collars: Steel Drill Collars; Non-Magnetic Drill Collars
• Companies Mentioned: Hilong Group of Companies Ltd.; Oil Country Tubular Ltd.; Texas Steel Conversion Inc.; Drill Pipe International LLC; National Oilwell Varco Inc.; Tejas Tubular Products Inc.; Tenaris S.A; TMK Steel Limited; DP-Master Manufacturing Ltd; Hunting PLC; Challenger International Inc; Premier Drill Products LLC; Vallourec SA; Jiangyin Long Bright Drill Pipe Manufacture Co. Ltd.; TPCO Enterprise Inc.; Superior Drillpipe Manufacturing Inc.; ILJIN Steel Corporation; EVRAZ North America; JFE Steel Corporation; Shandong Molong Petroleum Machinery Co. Ltd.; Shanxi Fenglei Drilling Tools Co. Ltd.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Taiwan; Russia; South Korea; UK; USA; Canada; Italy; Spain.
• Regions: Asia-Pacific; South East Asia; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time Series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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