North America Drill Pipe Market Size – By Product, By Application, Analysis, Share, Growth Forecast, 2025 - 2034

North America Drill Pipe Market Size

The North America drill pipe market was valued at USD 1 billion in 2024 and is estimated to grow at a CAGR of 6.9% from 2025 to 2034. Ongoing exploration and production of unconventional resources, including shale and tight gas, along with flourishing investments in the upstream sector are augmenting the business dynamics.
 

The focus on reducing import dependency, government initiatives to increase crude production, and rising demand for petroleum products, are complementing the industry landscape. The drilling industry has gone advanced through innovations including horizontal and pad drilling techniques, which minimize rig downtime, propelling the industry outlook. Companies investing in technological improvements for extended reach drilling capabilities across exploration and production processes, further shaping the business dynamics.
 

North America Drill Pipe Market Trends

The North America drill pipe industry is set to witness significant growth driven by the growth in oil and gas production, hydrocarbon exploration activities, and supportive government policies. Rising demand for primary energy, along with in increasing energy consumption across various applications is contributing to the industry growth. Continuous advancements in technology across drilling techniques, requiring specialized and high-quality drill pipes to augment operational efficiency and access untapped reserves are driving the demand for drill pipes.
 

Accelerating exploration activities coupled with favorable initiatives by private and public organizations across the region to access oil and gas reserves will augment the industry outlook. For instance, in December 2024, INEOS Energy has purchased Gulf of Mexico operations from CNOOC Energy Holdings U.S.A. Inc., pushing its daily production above 90,000 barrels of oil equivalent. This marks the company's third U.S. market entry since 2020, following earlier deals with Sempra and Chesapeake Energy. The purchase includes stakes in the Appomattox and Stampede deepwater platforms, along with existing production facilities and support systems.
 

North America Drill Pipe Market Analysis

The API segment is anticipated to cross over USD 1 billion by 2034. The increasing demand for products and components that offer cost advantages, durability in low-temperature environments, and superior torque resistance capabilities will complement the business landscape. The ability to function effectively in challenging operating conditions, coupled with combination of these performance characteristics and their ability to withstand extreme environmental challenges, demanding operational establishments is augmenting the industry outlook.
 

 

The onshore segment is anticipated to witness a CAGR of over 6.5% through 2034, due to increasing rig count and lower operational risks compared to offshore drilling, contributing to the industry growth. The expansion of shale projects and significant untapped potential coupled with increasing focus on heavy oil reservoirs will further augment the industry outlook.
 

The U.S. drill pipe market is likley to exceed USD 1.5 billion by 2034. Increasing consumption of petroleum products and liquefied natural gas across residential and commercial establishments along with rising demand for oil & gas products is complementing the industry landscape. Additionally, companies are intensifying their focus on offshore oil and gas exploration, while simultaneously enhancing their production capabilities and refining processes to meet energy requirements will positively influence the business dynamics.
 

Authorities have implemented policies and programs to boost crude oil production along with the implementation of digital technologies and automated systems in drilling operations to improved operational efficiency will shape the business outlook. For instance, in June 2024, U.S. Energy Development Corporation is expanding its operations in the Permian basin. The company plans to deploy over USD 750 million in the next 12 months, primarily focusing on projects in this region. The company planned to increase its drilling activities in the Permian basin and will begin operating a rig in October 2024 for additional Delaware wells in partnership with Atlantic.
 

North America Drill Pipe Market Share

Companies in the North America drill pipe industry are implementing strategic changes to strengthen their market positions. Industry participants are forming strategic alliances, adopting new technologies, engaging in mergers and acquisitions, and expanding their production facilities. The integration of new technologies is expected to transform the industry by improving operational efficiency and product development, further augmenting the industry landscape.
 

North America Drill Pipe Market Companies

Major players operating across the industry include:

• Baker Tubulars
• Command Tubular
• Drilling Tools
• Drillpipe
• Hilong
• Holly Pipe
• Imex
• NOV
• Pinnacle Drilling
• Premier Drill
• Tejas Tubular
• Texas Steel
• Tube Technologies
• Vallourec
• Weatherock
   

North America Drill Pipe Industry News

• In May 2024, TSC Drill Pipe launched its TSC HOIST program in May 2024 to enhance customer support for drill pipe operations. The program delivers technical expertise and maintenance training to customers. The company maintains product quality through rigorous manufacturing standards and material testing. TSC HOIST enables customers to improve their operational performance through expert-guided maintenance practices.
   
• In January 2024, Eavor Technologies introduced the Insulated Drill Pipe system which helps to manage extreme temperatures in geothermal drilling. The system uses specialized coating layers inside and outside the pipe to minimize heat exchange between drilling fluids. This design keeps the Bottom Hole Assembly (BHA) at safer temperatures. This technology builds upon traditional oil and gas drilling methods to address the unique challenges of ultra-deep wells.
   

This North America drill pipe market research report includes in-depth coverage of the industry with estimates & forecast in terms of “USD Million” from 2021 to 2034, for the following segments:

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Market, By Product

• API grade
• Premium grade

Market, By Application

• Onshore
• Offshore

The above information has been provided for the following countries:

• U.S.
• Canada
• Mexico