Global Oil Country Tubular Goods Market

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

Report ID: SQMIG10B2073 | Region: Global | Published Date: December, 2024
Pages: 250 | Tables: 89 | Figures: 76

Oil Country Tubular Goods Market News

  • 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.
$5,300
BUY NOW GET FREE 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.

REQUEST FREE CUSTOMIZATION

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.

Request Free Customization

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.

Click here right-arrow
logo-images

Related Reports

Oilfield Equipment Market
Buy Now GET FREE SAMPLE
Luxury Leather Goods Market
Buy Now GET FREE SAMPLE
Luxury Goods Market
Buy Now GET FREE SAMPLE
Leather Goods Market
Buy Now GET FREE SAMPLE
Crude Oil Market
Buy Now GET FREE SAMPLE
Cargo Handling Equipment Market
Buy Now GET FREE SAMPLE
Hydraulic Equipment Market
Buy Now GET FREE SAMPLE
Industrial Rubber Market
Buy Now GET FREE SAMPLE

Feedback From Our Clients

Global Oil Country Tubular Goods Market

Report ID: SQMIG10B2073

$5,300
BUY NOW GET FREE SAMPLE