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Pup Joint Market (Product Type - Crossover Pup Joint, Drill Pipe Pup Joint and Tubing Pup Joint; Technology - Hot Rolled and Cold Rolled; End User Industry - Oil & Gas, Chemical Industry, Mining, Construction and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : July, 2020

  • Rep Id : IA0094

  • Category : Industry Automation

  • Status : Published

A recent report published by Infinium Global Research on the pup joint market provides an in-depth analysis of segments and sub-segments in the global as well as regional pup joint market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional pup joint market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global pup joint market. According to the report, the global pup joint market is projected to grow at a CAGR of 5.3% over the forecast period of 2020-2026.

 

Market Insight

Pup Joint is a kind of non-standard lengths of piping used to adjust the height of full-length casing and tubing. These joints are mainly used as a depth identifier such as the drill string, production tubing, or casing. A pup joint offers a wide range of applications in the energy sector including renewable, coal and gas such as interconnect flowline, full traceability, and customized length adjustment according to their requirements. However, the current concerns over the spread of the coronavirus crisis are affecting these end user industries, the major users of the pup joint. This will hinder the demand of the pup joint as oil and gas industry is the major end user. The important impact of the coronavirus outbreak on the downstream oil and gas industry is that the significant fall in prices and reduced demand due to economic slowdown, which affected the production rate of oil and gas in OPEC countries. But as major countries such as the US, Russia, and Saudi Arabia implement dynamic and diversified approaches to navigate and handle the multiple uncertainties happening due to this pandemic, the market will gradually show slow growth over the forecast period.

 

Recent technological advancement in drilling techniques and rapid industrialization in developing countries drive the global demand for pup joint market. In addition, increasing population and growing demand for natural gas and oil are expected to propel the demand of the market. Further, rise in demand for high-grade pup joints from several end-use industries is anticipated to increase the use of pup joints. Rising demand for energy and increasing investments in the exploration of onshore and offshore reserves from the oil & gas and mining industry is anticipated to propel the demand for pup joints. Renewable energy is the fastest-growing energy source in developed countries owing more than 17% of electricity generation than hydropower and wind. In addition, the introduction of several drilling technologies has a positive impact on the oil and gas business. However, a fall in petroleum production is expected to hamper the demand for pup joints in the market. Moreover, rising energy consumption, economic development of the shipping industry, and increasing seaborne trade are the major factors that fuel the demand for pup joints in the forecast period. Furthermore, key players are majorly focusing on improving product quality as well as offering customized products as per application.

 

Geographically, North America held the largest share in the pup joint market in 2019. The US is a key revenue generator in North America pup joint market. The factors such as economic development, industrialization, and growing offshore activities will increase demand for the pup joint market in this region. However, Asia Pacific will witness rapid growth in the market owing to a growing focus on urbanization in countries such as Japan, India, and China. Moreover, increasing the population and rising demand for natural gas in emerging countries is expected to escalate the demand for the pup joints over the forecast period.

 

Segment Covered

The report on the global pup joint market covers segments such as product type, technology, and end user industry. On the basis of product type, the sub-markets include crossover pup joint, drill pipe pup joint and tubing pup joint. On the basis of technology, the sub-markets include hot rolled and cold rolled. On the basis of end user industry, the sub-markets include oil & gas, chemical industry, mining, construction and others.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Texas Pipe Works Inc., National Oilwell Varco, Anvil International, Forum Energy Technologies, TPS TECHNITUBE RÖHRENWERKE GmbH, WestCan Oilfield Supply Ltd, AZZ Inc., TaiXingShijiDongfang Machinery, Sandong Metal Industry Co., Ltd., and Sledgehammer Oil Tools Pvt. Ltd.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the pup joint market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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