The global pup joint market size is predicted to reach US$ 700 million by 2030 and expanding at a CAGR of 7.5% during the forecast period 2021 to 2030.
Pup joint is a pipe of non-standard length used to adjust the length of tubular strings to its exact requirement. They are used to adjust the length of drill string for drilling operations. The pup joint market is expected to grow during the forecast period due to rising investment in numerous exploration activities and advancement in drilling technologies.
The market growth can be primarily attributed to the flourishing oil & gas and mining sectors in different regions of the world, particularly in the Middle East & Africa. While oil & gas companies continue to focus on leveraging new exploration and drilling technologies, offshore applications of pup joint have widened at a rapid pace over the past couple of decades. Companies operating in the current market landscape should focus on inorganic growth strategies to improve their market position. Moreover, companies should also focus on marketing and selling their products on e-Commerce platforms such as Alibaba to expand their footprint.
Drivers, Opportunities, and Restraints
Surge in Demand from Oil & Gas and Mining Industries
The growth of the pup joint market predominantly relies on the surge in demand from oil & gas and mining industries. While the oil & gas sector is expected to remain the most prominent end-use industry, the demand from other industrial sectors, including chemical, mining, and construction is projected to grow at a healthy pace. Economic development, industrialization, and focus on urbanization particularly in developing regions have played a key role in increasing the demand for electricity in these regions. The significant rise in demand for electricity has a direct impact on the demand for energy resources due to which offshore activities have increased worldwide. Increase in the number of offshore activities has led to a direct impact on the demand for pup joints– a trend that is expected to continue during the forecast period.
The applications of pup joints in the mining sector continue to provide market participants with lucrative opportunities. The demand for advanced drilling tool services and solutions has played an important role in driving innovations in the pup joint market in recent times. While mining exploration techniques continue to advance at a steady pace, the demand for pup joints, crossovers, tubing cases, etc., from the end users is projected to witness a steady incline.
Key players operating in the global pup joint market include Anvil International, AZZ Inc., Dmh United Steel Industry Co., Ltd, Forum Energy Technologies, Inc., National Oilwell Varco, Oil Country Tubular Limited, Sledgehammer Oil Tools Pvt. Ltd, Stewart Tubular Products, Texas Pipe Works Inc., and TPS-Technitube Röhrenwerke GmbH.
By Product Type
By End Use
This report focuses on pup joint market includes crucial information on market share, market size, and growth rate for the forecast period 2021 to 2030 at the global level, regional level and company level. From a global perspective, this report represents overall pup joint market size by analyzing historical data and future prospect. The study highlights deep analysis on the major drivers of the market, restraints, and challenges to help the business owners, suppliers, and marketing personnel in planning effective strategies for the forecast period. This will help the business and manufacturers to lead the market and gain prominent position in future. The report also presents vital information through graphical representation on factors like table, charts, and statistics. The study includes drivers and restraints of the global pup joint market.
The research not only conducts forecasts in terms of value, but also evaluates the market on the basis of essential parameters, such as Year-on-Year (Y-o-Y) growth. This helps providers to recognize the future opportunities as well predictability of the market.
In order to understand and assess opportunities in this market, the report is categorically divided into five key sections on the basis of segments. The report analyzes the global market in terms of value (US$ dollers) and volume (Million Units).
The research report includes specific segments by region (country), by company, by all segments. This study provides information about the growth and revenue during the historic and forecasted period of 2017 to 2030. Every segment is further sub-segmented into several sub-segmented that are deeply analyzed by experts to offer valuable information to the buyers and market players. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
The research report includes a detailed study of regions of North America, Europe, China, Japan and Rest of the World. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2017 to 2030. These analyses will help the reader to understand the potential worth of investment in a particular region.
The report provides in-depth segment analysis of the global pup joint market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the pup joint market.
The report includes country-wise and region-wise market size for the period 2017-2030. It also includes market size and forecast by segments in terms of production capacity, price and revenue for the period 2017-2030.
In this study, the years considered to estimate the market size of pup joint are as follows:
This section of the report identifies various key manufacturers of the market. It helps the reader understand the strategies and collaborations that players are focusing on combat competition in the market. The comprehensive report provides a significant microscopic look at the market. The reader can identify the footprints of the manufacturers by knowing about the global revenue of manufacturers, the global price of manufacturers, and sales by manufacturers during the forecast period of 2017 to 2019.
The analysts have provided a comprehensive analysis of the competitive landscape of the global pup joint market with the company market structure and market share analysis of the top players. The innovative trends and developments, mergers and acquisitions, product portfolio, and new product innovation expected to provide a dashboard view of the market, ultimately providing the readers accurate measure of the current market developments, business strategies, and key financials.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users) and other segments.
The research methodology adopted by analysts for compiling the global pup joint market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global market.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global pup joint market.
The study objectives of this report are:
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