Oil Country Tubular Goods (OCTG) Market Competitive Dynamics & Global Outlook 2023 By Nippon Steel & Sumitomo Metal Co., Vallourec, Tenaris, Steel Tubular Products Inc, and Continental Alloys

The OCTG market is estimated to be valued at~ USD 43 billion by 2023; with a CAGR of ~7.14%. The OCTG (Oil Country Tubular Goods) are the components that are used in the production of oil and gas from the well. The proper use of OTCG could help reduce the probabilities of any mishap, hazard, and risks that ultimately save the production cost of the company. It includes, casing, drill pipe, tubing etc. The OCTG market is expected to grow further because of the surge in offshore activities. Additionally, the oil industry is trying to increase their rig count in region like North America and Asia Pacific and which ultimately help accelerate the production in wells.

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The oil and gas industry is capital intensive. So, it requires maintaining the balance in production of crude oil and gas to avoid any loss of money, machinery and resources This drives the global OCTG market. Reservoir contracts are improving to sustain in the market while, technological developments, innovative tools could help the market, evolve. It is driven by increment in oil and gas production activities, exponential growth in shale gas reserves, and rising investment in upstream sector by operators.

Key Players

The key players in global OCTG market are Nippon Steel & Sumitomo Metal Co. (Japan), Vallourec (France), Tenaris(Europe), National Oilwell Varco (U.S.), TMK (U.S.), Steel Tubular Products Inc(NA)., ILJIN STEEL CO (S. Korea), Continental Alloys (Malaysia), Anhui Tianda Oil Pipe Company(China).

Segmentation

Global OCTG market is segmented on the basis of four major segments.

On the basis of type, the segments are tubing, casing, and drill pipe. Tubing is the inner wall of well, which helps transport the fluid from bottom to top. Casing protects the layer of soil, groundwater contamination by drill mud or fracking fluid and lastly. Drill pipes are durable steel pipes that conduct the force to drill bits.

On the basis of make, the segments include welding or seamless.

On the basis of grade, is the segments are premium and API, which are the grades of steel pipe that require on the basis of their properties like ductility, temperature and thermal compatibility.

Lastly, the global OTCG market is segmented by region North America, Europe, Asia Pacific, Middle East and Latin America.

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List Of Figures

Figure 1 Research Process Of MRFR

Figure 2 Top Down & Bottom Up Approach

Figure 3 Market Dynamics

Figure 4 Impact Analysis: Market Drivers

Figure 5 Impact Analysis: Market Restraints

Figure 6 Porter’s Five Forces Analysis

Figure 7 Value Chain Analysis

Figure 8 Global OCTG Market share, By Type, 2016 (%)

Figure 9 Global OCTG Market, By Type, 2015-2023 (USD Million)

Figure 10 Global OCTG Market share, By Make, 2016 (%)

Figure 11 Global OCTG Market, By Make, 2015-2023 (USD Million)

Figure 12 Global OCTG Market Share (%), By Region, 2016

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