Oil Country Tubular Goods - Global Market Outlook (2017-2026)

According to Stratistics MRC, the Global Oil Country Tubular Goods market is accounted for $49.56 billion in 2017 and is expected to reach $100.89 billion by 2026 growing at a CAGR of 8.2%. Ever-increasing demand and succeeding energy production, rising number of deep water wells, increasing drilling and production activities, growing consumption of premium pipes and advent of technologically advanced pipe are some of the key factors propelling the market growth. However, factors such as risk associated with the cyclical nature of the tube market, depletion of limited oil and gas, environmental issues and international political and economic instability are inhibiting the market.

Oil Country Tubular Goods (OCTG) is made of hollow steel with circular cross section. These are tubular goods which are used in production and exploration activities on offshore as well as onshore reserves. Oil country tubular goods (OCTG) is a family of seamless rolled products consisting of drill pipe, casing and tubing subjected to loading conditions according to their specific application. These products are among key tools used in oil and gas exploration. The right selection of the product is based on the quality and suitability, is vital to avoid damages during exploration activities such as leakages.

By manufacturing process, seamless pipe segment dominated the market due to their mechanical properties such as higher tensile strength. Moreover, these pipes also play a significant role in high-pressure drilling environments. An increase in offshore drilling activities that mandate the use of seamless pipes will fuel the prediction for market. Based on geography, Asia Pacific held largest market share during the forecast period. Focusing on securing a larger base of energy resources, countries in this region, especially China, have started increasing their investments to ramp up their upstream activities. This will result in increasing drilling activities, especially in the unconventional reserve bases like coal bed methane, which, in turn, drives the growth of the market in this region.

Some of the key players in the global Oil Country Tubular Goods market include ACE O.C.T.G, Vallourec., United States Steel (USS) Corporation, TMK Group, Tenaris SA, Tata Steel, Nippon Steel & Sumitomo Metal Corporation, National Oilwell Varco, MRC Global, Jindal Steel & Power, JFE Steel, ISMT, Corpac Steel, Benteler and ArcelorMittal.

Manufacturing Processes Covered:
• Electric Resistance Welded
• Seamless

Grades Covered:
• API Grade
• Premium Grade

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

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