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.
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
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
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.
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.
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.