Increasing demand for premium pipes combined with the introduction of sophisticated technological pipes is expected to drive the growth of oil country tubular goods market during the forecast period. This has resulted in some of the key developments by companies operating in the market to consolidate their market positions and look for further niche opportunities.

Oil country tubular goods (OCTG) is a steel tubular products composed of drill, casing, and tubing. The primary components of the building are the casing and tubing strings. All wells drilled for the manufacturing of petroleum or gas (or injecting materials into subterranean structures) must be cast with strength and functionality. Drill pipe is a heavy steel tube that rotates the drill bit and the drilling fluid circulates. The 30 ft (9 m) long pipe sections are combined with the tool joints. At the same time, the drilling pipe is subjected to elevated torque, axial tension due to its dead weight and internal pressure due to drilling fluid purification. The global oil country tubular goods (OCTG) market is expected to high demand due to the liberalization of oil and gas by key nations around the world to boost foreign investment and thus help the oil and gas industry to develop.

Segment Analysis:

The global oil country tubular goods (OCTG) market is segmented based on the manufacturing process, grade and application. The global oil country tubular goods (OCTG) market is expected to boom in North America due to the increasing expenditure on research and development by steel manufacturers and supporting public policies in the form of subsidies.

Key Factors Impacting Market Growth:

• Increasing demand for premium pipes combined with the introduction of sophisticated technological pipes

• The upsurge in the number of drilling and exploration activities in unconventional reserves

• Growing oil demand, rising energy consumption

Regional Analysis:

The regional outlook for oil country tubular goods market provides detailed information for markets including North America, Western Europe, Eastern Europe, Asia Pacific, Middle East, and Rest of the World. North America and Western Europe are estimated to be key regions for oil country tubular goods market during the forecast period. Being one of the industrialized regions, the energy & power sector is key to the operations of various industries in this region. This is one of the important factors governing the growth of oil country tubular goods market in these regions. Some of the major countries covered in this region include US, Germany, UK, France, Italy, Canada, and so on.

Asia Pacific is estimated one of the fastest-growing regions for oil country tubular goods market during the forecast period. Some of the fastest growing economies and increasing demand for energy & power to cater high population & industries is expected to drive the demand in this region. China and India are projected to register major demand during the forecast period. Middle East that includes UAE, Saudi Arabia, Iran, Qatar, and others promises high market potential during the forecast period. Rest of the World including South America and Africa are emerging regions in terms of market demand during the forecast period.

Companies Covered: National-Oilwell Varco Inc, ArcelorMittal SA, Iljin Steel Co., TPCO Enterprise Inc., TMK Ipsco Enterprises Inc., Nippon Steel & Sumitomo Metal Corporation, U. S. Steel Tubular Products Inc., Tenaris SA, and Vallourec SA...

Market Segmentation:

By Manufacturing Process:

• Seamless

• Electric Resistance Welded

By Grade:

• API

• Premium

By Application:

• Onshore

• Offshore

By Region:

• North America

• By Country (US, Canada, Mexico)

• By Manufacturing Process

• By Grade

• By Application

• Western Europe

• By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)

• By Manufacturing Process

• By Grade

• By Application

• Eastern Europe

• By Country (Russia, Turkey, Rest of Eastern Europe)

• By Manufacturing Process

• By Grade

• By Application

• Asia Pacific

• By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)

• By Manufacturing Process

• By Grade

• By Application

• Middle East

• By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)

• By Manufacturing Process

• By Grade

• By Application

• Rest of the World

• By Region (South America, Africa)

• By Manufacturing Process

• By Grade

• By Application

Reasons To Buy This Report:

• Market size estimation of the global oil country tubular goods (OCTG) market on a regional and global basis

• The unique research design for market size estimation and forecast

• Profiling of major companies operating in the market with key developments

• Broad scope to cover all the possible segments helping every stakeholder in the market

Customization:

We provide customization of the study to meet specific requirements:

• By Segment

• By Sub-segment

• By Region/Country

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