Global Oil Country Tubular Goods Market

Global Oil Country Tubular Goods Market Size, Share, Growth Analysis, By Process(Seamless, Welded), By Product(Well Casing, Production Tubing), By Application(Onshore, Offshore) - Industry Forecast 2022-2028


Report ID: SQSG10C2002 | Region: Global | Published Date: October, 2022 | Pages: 157

Global Oil Country Tubular Goods Market Insights

The Global Oil Country Tubular Goods Market was valued at USD 19.2 billion in 2021, and it is expected to reach a value of USD 34.2 billion by 2028, at a CAGR of 6.5% over the forecast period (2022 - 2028).

Global economic growth is fundamentally dependent on the production of oil and gas. Many different industrial sectors, including transportation, power generation, production, and process, among others, heavily utilize hydrocarbons. Exploration and production operations have expanded as a result of the rise in oil and gas demand. Governments and well-known hydrocarbon producers invest often in the production of oil and gas all over the world. To extract hydrocarbon, drilling is a crucial process, and it takes OCTG to complete drilling operations.

Market snapshot

Largest Segment

Seamless

Fastest Growth

Seamless

Growth Rate

6.5% CAGR

Global Oil Country Tubular Goods Market 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Oil Country Tubular Goods Market Size by Process, 2021-2028 ($ Bn)
Global Oil Country Tubular Goods Market Size by Process, 2021-2028 (%)

To get more reports on the above market click here to Buy The Report

Global Oil Country Tubular Goods Market Segmental Analysis

The Global Oil Country Tubular Goods Market is segmented based on the Process, Product, Application, and Region. Based on the Process, the Global Oil Country Tubular Goods Market is segmented as Seamless and Welded. Based on the Product, the Global Oil Country Tubular Goods Market is segmented as Well Casing, Production Tubing, Drill Pipe, and Others. Based on the Application, the Global Oil Country Tubular Goods Market is segmented as Onshore and Offshore. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Analysis by Process

In the global energy picture, conventional energy sources account for a considerable portion, particularly hydrocarbons, which are widely employed in several industrial verticals for a variety of activities. Operators are continually conducting drilling operations across the planet in order to run vast requisition operations for oil and gas. Because they can endure exceptionally high pressure without cracking, seamless pipes are preferable to welded ones. In addition, they provide shape homogeneity and eliminate the chance of a weak seam, making them appropriate for high-pressure applications like hydrocarbon exploration and production. However, welded pipes are more affordable than their alternatives and are simple to adapt to meet operational needs.

Global Oil Country Tubular Goods Market Share By Process, 2021 (%)

To get detailed analysis on other segments, Request For Sample Report

Global Oil Country Tubular Goods Market Regional Insights

The US-China trade war and the downturn in developing economies both contributed to the relatively weak growth of the world economy in 2019. OCTG market share is expected to be dominated by North America because of the extensive drilling taking place there. The oil country tubular products market is projected to have strong expansion thanks to benevolent government policies and investments from some of the prominent companies in the sector. The U.S. has consistently concentrated on using oil and gas production to balance the supply-demand ratio. The market is also anticipated to be driven by the shale revolution and its enormous potential to unlock fresh reserves.

Global Oil Country Tubular Goods Market By Geography, 2021 - 2028
  • Largest
  • Fastest

To know more about the market opportunities by region and country, click here to
Buy The Complete Report

Global Oil Country Tubular Goods Market Dynamics

Driver

Growing Drilling Operations Projected to Inflate the Market

  • Energy use grew as a result of the economic recovery in many regions of the world. The main energy source in the global energy picture is oil and gas. Hydrocarbons are widely employed in a variety of processes, including manufacturing, processing, and the production of electricity. In order to fulfill the enormous demand for oil and gas, oilfield service providers and operators are investing exponentially in exploration and production operations. This is one of the major trends in the OCTG industry. The prognosis for the OCTG market is probably going to improve due to the notable increase in drilling operations in various regions of the world and the industry's consistent expansion.

Speak to one of our ABIRAW analyst for your custom requirements before the purchase of this report

Global Oil Country Tubular Goods Market Competitive Landscape

The Global Oil Country Tubular Goods market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their companies globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses in order to increase market share and profitability.

Top Player's Company Profiles

  • Tenaris S.A. (US)
  • TMK Group (Russia)
  • Vallourec (France)
  • National Oilwell Varco (US)
  • Benteler Group (Austria)
  • Tata Steel (India)
  • Nippon Steel Corporation (Japan)
  • JFE Holdings, Inc. (Japan)
  • Continental Alloys & Services (US)
  • ACE O.C.T.G. Ltd (Malta)
  • Jindal Saw Ltd. (India)
  • United States Steel Corporation (US)
  • ISMT LTD (India)
  • Corpac Group (US)
  • ArcelorMittal (Luxembourg)

Recent Developments

  • In January 2022, in order to establish an oil country, tubular goods (OCTG) threading mill in Nashik, India, Jindal SAW and Hunting Energy Services announced that they had formed a joint venture (JV). The factory will produce the machinery required for oil and gas drilling operations. The first investment will be anywhere between $20 and $25 million, with Jindal SAW holding a controlling stake in the 51:49 partnership. By the end of 2022, the plant is expected to be fully operational.

Global Oil Country Tubular Goods Key Market Trends

  • The premium-grade OCTG market is expanding due to increased demand from oil and gas upstream operations. In gas wells, horizontal wells, high pressure (over 5,000 psi), and high temperature (above 250 F) wells, the premium-grade applications are widely used. For connections with more complicated applications and where gas-tight sealing is necessary, the premium-grade OCTG is used. The rapid growth of shale deposits is giving the search for natural gas a major boost. Additionally, the extraction of natural gas from shale formations has been made possible by horizontal directional drilling, which has had a significant positive impact on the market for premium quality OCTG.

Global Oil Country Tubular Goods Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by robust Secondary Desk research.

According to our Global Oil Country Tubular Goods Market Analysis, the onshore sector accounts for a significant share of all drilling activity globally. Due to increased oil and gas consumption, drilling activities may see rapid expansion, which is anticipated to enhance the OCTG market. North America is anticipated to have a significant influence on the global oil nation tubular products market as a result of the rising number of drilling operations in the U.S. and Canada. Exploration and production activities grew steadily as a result of favorable government laws and a positive business environment.

Report Metric Details
Market size value in 2028 19.2 billion
Growth Rate 6.5%
Base year 2021
Forecast period 2022 - 2028
Forecast Unit (Value) Billion
Segments covered
  • Process
    • Seamless, Welded
  • Product
    • Well Casing, Production Tubing, Drill Pipe, Others
  • Application
    • Onshore, Offshore
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Tenaris S.A. (US)
  • TMK Group (Russia)
  • Vallourec (France)
  • National Oilwell Varco (US)
  • Benteler Group (Austria)
  • Tata Steel (India)
  • Nippon Steel Corporation (Japan)
  • JFE Holdings, Inc. (Japan)
  • Continental Alloys & Services (US)
  • ACE O.C.T.G. Ltd (Malta)
  • Jindal Saw Ltd. (India)
  • United States Steel Corporation (US)
  • ISMT LTD (India)
  • Corpac Group (US)
  • ArcelorMittal (Luxembourg)
Customization scope

Free report customization with purchase. Customization includes:-

  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.

Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share

Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Oil Country Tubular Goods Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Oil Country Tubular Goods Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Oil Country Tubular Goods Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Oil Country Tubular Goods Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Oil Country Tubular Goods Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Oil Country Tubular Goods Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

$3,500
BUY NOW GET SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

SPEAK TO AN ANALYST

FAQ's

The Global Oil Country Tubular Goods Market was valued at USD 19.2 billion in 2021, and it is expected to reach a value of USD 34.2 billion by 2028, at a CAGR of 6.5% over the forecast period (2022 - 2028).

The Global Oil Country Tubular Goods market is relatively fragmented, with a high level of competition. Companies are working on new product launches and other initiatives to provide better equipment to their customers and expand their companies globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses in order to increase market share and profitability.'Tenaris S.A. (US)','TMK Group (Russia)','Vallourec (France)','National Oilwell Varco (US)','Benteler Group (Austria)','Tata Steel (India)','Nippon Steel Corporation (Japan)','JFE Holdings, Inc. (Japan)','Continental Alloys & Services (US)','ACE O.C.T.G. Ltd (Malta)','Jindal Saw Ltd. (India)','United States Steel Corporation (US)','ISMT LTD (India)','Corpac Group (US)','ArcelorMittal (Luxembourg)'

Energy use grew as a result of the economic recovery in many regions of the world. The main energy source in the global energy picture is oil and gas. Hydrocarbons are widely employed in a variety of processes, including manufacturing, processing, and the production of electricity. In order to fulfill the enormous demand for oil and gas, oilfield service providers and operators are investing exponentially in exploration and production operations. This is one of the major trends in the OCTG industry. The prognosis for the OCTG market is probably going to improve due to the notable increase in drilling operations in various regions of the world and the industry's consistent expansion.

The premium-grade OCTG market is expanding due to increased demand from oil and gas upstream operations. In gas wells, horizontal wells, high pressure (over 5,000 psi), and high temperature (above 250 F) wells, the premium-grade applications are widely used. For connections with more complicated applications and where gas-tight sealing is necessary, the premium-grade OCTG is used. The rapid growth of shale deposits is giving the search for natural gas a major boost. Additionally, the extraction of natural gas from shale formations has been made possible by horizontal directional drilling, which has had a significant positive impact on the market for premium quality OCTG.

The US-China trade war and the downturn in developing economies both contributed to the relatively weak growth of the world economy in 2019. OCTG market share is expected to be dominated by North America because of the extensive drilling taking place there. The oil country tubular products market is projected to have strong expansion thanks to benevolent government policies and investments from some of the prominent companies in the sector. The U.S. has consistently concentrated on using oil and gas production to balance the supply-demand ratio. The market is also anticipated to be driven by the shale revolution and its enormous potential to unlock fresh reserves.

Speak With Our Analyst

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

logo-images

Feedback From Our Clients

Global Oil Country Tubular Goods Market

Product ID: SQSG10C2002

$3,500
BUY NOW GET SAMPLE