Wired Drill Pipes Global Market 2018 | Top Companies, Type and Application, Country & Competitive Landscape Reviews to 2023
Global Wired Drill Pipe Market Information Report, By Location (Onshore, Offshore), By Component Type, By Application (Data Collection, Managed Pressure Drilling, Wellbore integrity in Deep Ultra-Depleted Reservoirs) and By Region – Global Forecast To 2023
Pune, India – April 19, 2018 /MarketersMedia/ —
Wired Drill Pipes Global Market – Overview
The Global Wired Drill Pipes Market report focuses on the development aspect of the oil drilling activity which major oil field services companies are currently looking into. 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. 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. 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.
Globally, Wired Drill Pipes are increasingly used in regions where oil exploration and drilling activities are done to determine the existence of a resource. Globally North-America’s Oil & Gas Drilling Activity holds about 40% of the world’s current oil & gas drilling activity. The need to find exploration of new shale oil & gas in this region is on the verge of phenomenal growth with conventional and modern drilling methods. Conventional drilling methods and data processing of these activities consume substantial time to generate the data and transmit it to the operators, this results into lower productivity and higher operational time. With Wired Drill Pipes and implementation of modern drilling techniques, real time data from a drilling well from any location can be shared across the world. So the market of wired drill pipes is driven by the continuous need of meticulous real time data from the wellbore activities. The Wired Drill Pipes Market are segmented on the basis component type, such as telemetry, electrical conductors, electrical transmitters and pressure sensors, which fetch the real time enhanced data for applications, namely, data collection, managing pressure and checking integrity of wellbore operation.
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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 Global Wired Drill Pipes Market is projected to achieve an impressive growth during the forecast period. This is due to the increased amount of drilling activities carried out in the North America and African region. For instance, IntelliServ Wired Drill Pipe (WDP), one of the major players in the market has established that wired drill pipe enables real-time, bi-directional data which in turn can significantly reduce time spent in drilling.
Industry News
In July, 2017 – Maersk Drilling and National Oilwell Varco (NOV) recently collaborated on a project in the Norwegian North Sea in which wired drill pipe technology was installed and deployed on a jackup to improve the drilling process. The specific difficulties of the Norwegian fields was the major factor in implementing the technology in the region.
In January, 2018 – National Oilwell Varco, one of the major offshore services company, partnered with Statoil on their Barents Sea exploration drilling campaign in 2017 to prove that wired drill pipe was a viable technology, implement wired drill pipe as part of Statoil’s broader digitalization and automated drilling strategy, and increase drilling efficiency and safety in environment-sensitive wells.
Global Wired Drill Pipes Global Market – Segmentation
The scope of Global Wired Drill Pipes Market is segmented into four major segments which are explained below:
By Location
• Onshore
• Offshore
By Component Type
• Telemetry
• Electrical Conductors
• Electrical Transmitters
• Pressure sensors
• Others
By Application
• Data Collection
• Managed Pressure Drilling
• Wellbore integrity checking
By Regions
• North America
• Europe
• Asia Pacific
• Rest of the World
Wired Drill Pipes Global Market – Competitive Analysis
The Wired Drill Pipes Market 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.
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