1. How to use GuruFocus - Tutorials
  2. What Is in the GuruFocus Premium Membership?
  3. A DIY Guide on How to Invest Using Guru Strategies
Articles  | Author's Website |

Oil Country Tubular Goods Market Size, Analysis By Segmentation And Graphical Overview Forecast To 2026 | Fortune Business Insights

February 11, 2020

Top Players in Oil Country Tubular Goods Market are IPSCO, Jindal Pipes Ltd, Vallourec, United States Steel Corporation, Sumitomo Corporation, Voestalpine Tubulars GmbH & Co KG, The Brade Group, Tenaris, TMK, Zekelman Industries, DMH United Steel Industry Group, Arabian Pipes and BENTELER Group

The global oil country tubular goods (OCTG) market size is projected to reach USD 31.54 billion by 2026, 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.

For more information in the analysis of this report, visit https://www.fortunebusinessinsights.com/industry-reports/oil-country-tubular-goods-market-101396

The above information is shared by Fortune Business Insights™ in its new report, titled “Oil Country Tubular Goods (OCTG) Market Size, Share and Industry Analysis, By Process (Seamless and Welded), By Product (Well Casing, Production Tubing, Drill Pipe, and Others), By Application (Onshore and Offshore) Regional Forecast, 2019-2026 ”. 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.
  • ArcelorMittal
  • Weatherford
  • Sumitomo Corporation
  • United States Steel Corporation
  • TMK
  • ILJIN Steel Co., Ltd.
  • Tenergy Equipment and Service Ltd.
  • Schlumberger
  • JFE Steel Corporation
  • National Oilwell Varco
  • Vallourec
  • Tenaris

Request a Sample Copy of the Global Market Research Report https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/oil-country-tubular-goods-market-101396

Steadfast Pace of Drilling Operations Worldwide to Favor the Market

One of the leading oil country tubular goods market trends is the sustained pace at which drilling activities are being carried out across the globe. Steady population growth, especially in developing countries, has inflated the demand for energy and power globally. In response, governments and private entities across the globe are adopting measures and strategies to meet this demand and are therefore doubling down their investment in EandP ventures. Hydrocarbon reserves-deficient countries such as India are exploring new avenues to increase their oil and gas production and bring down their oil import bills. As a result, many emerging economies are looking for opportunities to enlarge their portion in the OCTG market share.

Key Segmental Overview:

1. By Process

  • Seamless
  • Welded

2. By Location

  • Onshore
  • Offshore

3. By Product

  • Casing
  • Line Pipe
  • Drill Pipe
  • Sucker Rods
  • Umbilical Coils
  • Others

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 and Africa (GCC, South Africa, and Rest of the Middle East and Africa)

Order Complete Report https://www.fortunebusinessinsights.com/checkout-page/101396

North America to Occupy a Commanding Position; Latin America to Present High Potential

The OCTG market size in North America was at USD 7.72 billion in 2018 and is likely to increase, aiding the region’s dominance on the oil country tubular gas market share in the coming decade. This will be mainly a result of favorable government policies for oil and gas EandP activities, presence of major companies, and discovery of shale gas in the region. Latin American countries such as Venezuela, Brazil, and Mexico are heavily investing in their respective energy sectors and rising exploration activities in the region have yielded promising results. In Europe, a well-established hydrocarbon industry in the UK and Norway will primarily drive the market, while huge oil reserves will augur well for the market in the Middle East and Africa.

Novel Product Offerings by Players to Stimulate Competition

According to the OCTG market analysis, key competitors in this market are increasing their RandD expenditure to bring out innovative products and services for customers. Through these efforts, companies are aiming to strengthen their position in the oil country tubular goods market in the forecast period.

Industry Developments:

  • 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.

Key Market Driver Modernization of oil and gas industry

Key Market Restraint Low and fluctuating crude oil prices

Key Industry Developments

  • In May 2019, PTTEP, Thailand’s national oil exploration and production company, has awarded Vallourec a contract to deliver over 3,000 tons of oil country tubular goods (OCTG) for its Myanmar M9 West offshore exploration project.
  • In December 2018, Arabian Pipes Co. has won a $13 million contract from Saudi Aramco to supply OCTG pipes form the second quarter of 2019.

Have any Query? Speak to Analyst at: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/oil-country-tubular-goods-market-101396

Major Table of Content For Oil Country Tubular Goods Market:

5. Global Oil Country Tubular Goods (OCTG) Market Analysis (USD Billion), Insights and Forecast, 2015-2026

5.1.Key Findings / Summary

5.2. Market Analysis, Insights and Forecast By Process


5.2.2. Welded

5.3. Market Analysis, Insights and Forecast By Product

5.3.1. Well Casing

5.3.2. Production Tubing

5.3.3. Drill Pipe

5.3.4. Others

5.4. Market Analysis, Insights and Forecast By Application

5.4.1. Onshore

5.4.2. Offshore

5.5. Market Analysis, Insights and Forecast By Region

5.5.1. North America

5.5.2. Latin America

5.5.3. Europe

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, 2015-2026

6.1. Key Findings / Summary

6.2. Market Analysis, Insights and Forecast By Process

6.2.1. Seamless

6.2.2. Welded

6.3. Market Analysis, Insights and Forecast By Product

6.3.1. Well Casing

6.3.2. Production Tubing

6.3.3. Drill Pipe

6.3.4. Others

6.4. Market Analysis, Insights and Forecast By Application

6.4.1. Onshore

6.4.2. Offshore

6.5. Market Analysis, Insights and Forecast By Country

6.5.1. U.S.

6.5.2. Canada

7. Latin America Oil Country Tubular Goods (OCTG) Market Analysis (USD Billion), Insights and Forecast, 2015-2026

7.1. Key Findings / Summary

7.2. Market Analysis, Insights and Forecast By Process

7.2.1. Seamless

7.2.2. Welded

7.3. Market Analysis, Insights and Forecast By Product

7.3.1. Well Casing

7.3.2. Production Tubing

7.3.3. Drill Pipe

7.3.4. Others

7.4. Market Analysis, Insights and Forecast By Application

7.4.1. Onshore

7.4.2. Offshore

7.5. Insights and Forecast By Country

7.5.1. Brazil

7.5.2. Mexico

7.5.3. Argentina

7.5.4. Venezuela

7.5.5. Rest of Latin America

8. Europe Oil Country Tubular Goods (OCTG) Market Analysis (USD Billion), Insights and Forecast, 2015-2026

8.1. Key Findings / Summary

8.2. Market Analysis, Insights and Forecast By Process

8.2.1. Seamless

8.2.2. Welded

8.3. Market Analysis, Insights and Forecast By Product

8.3.1. Well Casing

8.3.2. Production Tubing

8.3.3. Drill Pipe

8.3.4. Others

8.4. Market Analysis, Insights and Forecast By Application

8.4.1. Onshore

8.4.2. Offshore

8.5. Market Analysis, Insights and Forecast By Country

8.5.1. UK

8.5.2. Germany

8.5.3. Norway

8.5.4. Russia

TOC Continued.....!

View Related Reports:

Bearing Isolators Market Size, Share And Major Industry Players Forecast 2026 | Fortune Business Insights

Medium Voltage Cable Market Growth, Future Prospects And Competitive Analysis to 2026 | Fortune Business Insights

About Us
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.

At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.

Contact Us
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.

US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245

Email :[email protected]

Press Release Distributed by The Express Wire

To view the original version on The Express Wire visit Oil Country Tubular Goods Market Size, Analysis By Segmentation And Graphical Overview Forecast To 2026 | Fortune Business Insights

About the author:

Press Release Solutions for Corporates, Individuals, PR Firms, and Agencies.

Visit ExpressWire's Website

Rating: 0.0/5 (0 votes)


Please leave your comment:

Performances of the stocks mentioned by ExpressWire

User Generated Screeners

pascal.van.garsseHigh FCF-M2
kosalmmuseBest one1
DBrizanall 2019Feb26
kosalmmuseBest one
DBrizanall 2019Feb25
MsDale*52-Week Low
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)