The global “oil country tubular goods“ (OCTG) market size is projected to reach USD 31.54 billion by 2028, exhibiting a CAGR of 7.4% during the forecast period. Steady rise in oil
and gas exploration and production activities in North America is anticipated to be a major growth driver for this market in the upcoming decade. According to a report by World Oil, in 2018, the US witnessed 12% increase in its drilling activities from 2017 levels, while the world drilling activities rose by just 4.6% in the same year. The primary factor attributable to this remarkable rise is the discovery of shale gas in the US and Canada. The US and Canadian governments are formulating favorable policies which will put the region at the forefront in the global hydrocarbon scenario. Projections based on the current state of US shale oil production show that in the next decade, the US will become a net exporter of oil. Thus, the OCTG market outlook appears promising.
The above information is shared by Fortune Business Insights™ in its new report, titled “Oil Country Tubular Goods (OCTG) Market Size, Share & Industry Analysis, By Process (Seamless and Welded), By Product (Well Casing, Production Tubing, Drill Pipe, and Others), By Application (Onshore and Offshore) Regional Forecast, 2019-2028”.
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The report states that the value of this market stood at USD 17.92 billion in 2018. Additionally, the report provides:
- Detailed analysis of the factors driving the share, size, and revenue of the market;
- In-depth evaluation of the major challenges to the market growth;
- Careful segmentation of the market by process, product, application, and geography; and
- Meticulous research into the competitive landscape of the market.
Key Players Profiled in the OCTG Market Report:
- EVRAZ North America
- SB International, Inc.
- Sumitomo Corporation
- United States Steel Corporation
- ILJIN Steel Co., Ltd.
- Tenergy Equipment & Service Ltd.
- JFE Steel Corporation
- National Oilwell Varco
For more information in the analysis of this report, visit https://www.fortunebusinessinsights.com/industry-reports/oil-country-tubular-goods-market-101396
Key Segmental Overview:
1. By Process
2. By Location
3. By Product
- Line Pipe
- Drill Pipe
- Sucker Rods
- Umbilical Coils
4. By Geography
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain and Rest of Europe)
- Asia Pacific (China, India, Japan, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (GCC, South Africa, and Rest of the Middle East & Africa)
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- August 2019: A consortium comprising of Vallourec, Tenaris, and Marubeni Corporation was awarded a multi-billion-dollar casing and tubing contract by ANDOC. The contract will empower ANDOC with greater flexibility to meet the needs of its customers worldwide.
- June 2019: Romanian OCTG giant, TMK, signed a strategic agreement with Novatek, Russia’s second largest natural gas producer. Under the agreement, TMK will supply Novatek premium casing and tubing pipe products, in line with the formula-based pricing and supply mechanism chalked out in the agreement.
Major Table of Content For Oil Country Tubular Goods Market:
5. Global Oil Country Tubular Goods (OCTG) Market Analysis (USD Billion), Insights and Forecast, 2015-2028
5.1. Key Findings / Summary
5.2. Market Analysis, Insights and Forecast – By Process
5.3. Market Analysis, Insights and Forecast – By Product
5.3.1. Well Casing
5.3.2. Production Tubing
5.3.3. Drill Pipe
5.4. Market Analysis, Insights and Forecast – By Application
5.5. Market Analysis, Insights and Forecast – By Region
5.5.1. North America
5.5.2. Latin America
5.5.4. Asia Pacific
5.5.5. Middle East and Africa
6. North America Oil Country Tubular Goods (OCTG) Market Analysis (USD Billion), Insights and Forecast, 2015-2028
6.1. Key Findings / Summary
6.2. Market Analysis, Insights and Forecast – By Process
6.3. Market Analysis, Insights and Forecast – By Product
6.3.1. Well Casing
6.3.2. Production Tubing
6.3.3. Drill Pipe
6.4. Market Analysis, Insights and Forecast – By Application
6.5. Market Analysis, Insights and Forecast – By Country
7. Latin America Oil Country Tubular Goods (OCTG) Market Analysis (USD Billion), Insights and Forecast, 2015-2028
7.1. Key Findings / Summary
7.2. Market Analysis, Insights and Forecast – By Process
7.3. Market Analysis, Insights and Forecast – By Product
7.3.1. Well Casing
7.3.2. Production Tubing
7.3.3. Drill Pipe
7.4. Market Analysis, Insights and Forecast – By Application
7.5. Insights and Forecast – By Country
7.5.5. Rest of Latin America
8. Europe Oil Country Tubular Goods (OCTG) Market Analysis (USD Billion), Insights and Forecast, 2015-2028
8.1. Key Findings / Summary
8.2. Market Analysis, Insights and Forecast – By Process
8.3. Market Analysis, Insights and Forecast – By Product
8.3.1. Well Casing
8.3.2. Production Tubing
8.3.3. Drill Pipe
8.4. Market Analysis, Insights and Forecast – By Application
8.5. Market Analysis, Insights and Forecast – By Country
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Click here to get the short-term and long-term impact of COVID-19 on this Market.
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