What is the global market size of Oil Country Tubular Goods Market?

Oil Country Tubular Goods Market size was valued at USD 19.98 billion in 2021 and is poised to grow from USD 21.28 billion in 2022 to USD 37.5 billion by 2030, growing at a CAGR of 6.5% in the forecast period (2023-2030).

Oil Country Tubular Goods Companies

Oil Country Tubular Goods Market Competitive Landscape

Oil Country Tubular Goods Market Top Player's Company Profiles

Tenaris S.A.
TMK Group
Vallourec Group
Nippon Steel Corporation
U.S. Steel Tubular Products, Inc.
ArcelorMittal S.A.
JFE Steel Corporation
ILJIN Steel Co., Ltd.
Oil Country Tubular Limited
National Oilwell Varco Inc.
Sandvik AB
Jindal SAW Ltd.
Tianjin Pipe (Group) Corporation (TPCO)
SeAH Steel Corporation
Sumitomo Corporation
ChelPipe Group
TPCO America Corporation
Energex Tube
Borusan Mannesmann
Shougang Group

Oil Country Tubular Goods Market

FAQs

Oil Country Tubular Goods Market size was valued at USD 21.28 Billion in 2023 and is poised to grow from USD 22.66 Billion in 2024 to USD 39.94 Billion by 2032, growing at a CAGR of 6.5% during the forecast period (2025-2032).

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. ', 'TMK Group ', 'Vallourec Group ', 'Nippon Steel Corporation ', 'U.S. Steel Tubular Products, Inc. ', 'ArcelorMittal S.A. ', 'JFE Steel Corporation ', 'ILJIN Steel Co., Ltd. ', 'Oil Country Tubular Limited ', 'National Oilwell Varco Inc. ', 'Sandvik AB ', 'Jindal SAW Ltd. ', 'Tianjin Pipe (Group) Corporation (TPCO) ', 'SeAH Steel Corporation ', 'Sumitomo Corporation ', 'ChelPipe Group ', 'TPCO America Corporation ', 'Energex Tube ', 'Borusan Mannesmann ', 'Shougang Group'

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.

Feedback From Our Clients

"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "

- Mr. Ali Zali, Commercial Director, ICIIC Iran.

Oil Country Tubular Goods Market Size, Share, Growth Analysis, By Process, By Product, By Dimension, By Grade, By Application, By Region - Industry Forecast 2025-2032

Oil Country Tubular Goods Market Competitive Landscape

Oil Country Tubular Goods Market Report Snapshots

Want to customize this report?

FAQs

Request Free Customization

Feedback From Our Clients

$5,300

Oil Country Tubular Goods Market Size, Share, Growth Analysis, By Process, By Product, By Dimension, By Grade, By Application, By Region - Industry Forecast 2025-2032

Oil Country Tubular Goods Market Competitive Landscape

Oil Country Tubular Goods Market Report Snapshots

Want to customize this report?

FAQs

What is the global market size of Oil Country Tubular Goods Market?

Who are the key vendors in the Oil Country Tubular Goods Market?

What is the key driver of Oil Country Tubular Goods Market?

What is the key market trend for Oil Country Tubular Goods Market?

Which region accounted for the largest share in Oil Country Tubular Goods Market?

Request Free Customization

Related Reports

Feedback From Our Clients

$5,300