- Focus of players for custom products for downhole applications in the oil and gas sector to open new vistas.
- Innovations in mining techniques point at swelling demand besides relentless applications in the mining sector.
ALBANY, N.Y., April 22, 2021 /PRNewswire/ --
Pup Joint Market – Overview
The booming oil and gas and mining sectors are directly dependent on a large number of industry sectors for end-to-end operations. The extensive array of activities for oil and gas exploration requires a wide range of industrial, mechanical, and technical equipment of varying sizes, of which, albeit its simple and intermediate use, pup joint is one.
With the first recorded use of pup joint as early as in 1930, a pup joint is aptly an important component of equipment for almost any well in the oil and gas sector. Pup joints of varying lengths of tubing and casing are used to adjust the length of the production string as much as possible to the required value. Precisely, pup joints are used to bridge the distance gap between tubing and casing components. They are also used to adjust the bottom of downhole tools.
In fact, pup joints are mostly easy to handle and use thanks to their friendly design, and provide the same performance as tubing/casing drill pipes. With drill pipes being an integral component of oil drilling of the high value oil and gas sector, the seemingly trivial pup joint has emerged as a distinct industry sector. So much so, the pup joint industry sector directly witness gains with the demand for petroleum products mostly soaring world over for last few decades. In such a scenario, the pup joint market exhibits steadfast growth, which in the near future from 2019- 2027 is projected to expand at a healthy ~7% CAGR.
Focus of Savvy Players to offer Custom Products for Downhole Applications indicates bright future
With established use in the oil and gas sector, the demand for pup joints to optimize wireline activities remains consistent. Besides this, savvy players in the pup joints market are increasingly focusing on to offer customized products for downhole applications. Efforts to improve the quality of products, and to ensure they can withstand high-pressure environments and corrosion are also some pursuits keen players in the pup joints market are engaged in.
Explore 132 pages of superlative research, current market scenario, and extensive geographical projections. Gain insights into the Pup Joint Market (Product Type: Crossover Pup Joint, Drill Pipe Pup Joint, and Tubing Pup Joint; Technology: Hot Rolled and Cold Rolled; and End Use: Oil & Gas, Chemical Industry, Mining, Construction, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027 at https://www.transparencymarketresearch.com/pup-joint-market.html
Investments by Governments, Business Alliances between Large Players to explore New Oil Reserves paints Strokes of Growth
The ever-increasing demand for petroleum products has necessitated exploration of new oil and gas reserves. Several governments either independently or in collaboration with large oil companies are undertaking initiatives to tap unexplored oil reserves. This indirectly favors growth in the pup joint market.
Fluctuations in Oil and Gas Sector due to Changing Energy Policies, Geopolitical Tensions dwindles Demand
In several parts of the world, extensive programs undertaken by governments and environmental agencies to promote the use of renewable and alternate sources of energy have directly hit the oil and gas sector. This, in turn, has negatively impacted revenues in several industry sectors that are closely associated with oil and gas exploration activities, including pup joints.
Analyze global pup joint market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study
Pup Joint Market – Growth Drivers
Committed demand from the high-value oil and gas sector primarily fuels the pup joint market.
Relentless applications in the mining sector, with consistent advancement in mining exploration techniques translates into swelling demand.
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