Oil Country Tubular Goods (OCTG) Market Size Worth at a Reach USD 77110.10 Million by 2025 | Nippon Steel & Sumitomo Metal Corporation, Tenaris S. A, Vallourec, National-Oilwell Varco, Inc.

Oil Country Tubular Goods (OCTG) Market is valued at USD 47957.51 Million in 2018 and expected to reach USD 77110.10 Million by 2025 with the CAGR of 7.02% over the forecast period.

Increase in drilling and production activities, growing energy demand to fulfill the consumption needs, rise in offshore drilling activities, need for alternative technologies, exploration of shale resources as well as capital expenditure improvement in upstream sector are the basic factors behind the increased demand for the oil country tubular goods market.

Key Players of OCTG Market-

Some major key players for global Oil Country Tubular Goods market are Nippon Steel & Sumitomo Metal Corporation, Tenaris S. A, Vallourec, National-Oilwell Varco, Inc., ILJIN STEEL CO, TPCO Enterprise, Inc., TMK Ipsco Enterprises Inc., and others.

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Scope of OCTG Market

Oil Country Tubular Goods (OCTG) are defined as the tubes which are used in oil and gas production. These include drill pipe, casing and tubing. OCTGs are used both onshore and offshore that is on the land and in ocean.

Each wellbore processed in multiple phases during which drill pipe, casing and tubing are used alternatively. The American Petroleum Institute (API) specifies standardized specifications that defines features of Oil Country Tubular Goods and classified in to 10 grades.

These properties can be achieved through chemical composition of steel and subsequent heat treatment. Drill pipe is a heavy tube that rotates the drill bit and circulates drilling fluid.

Casing pipe lines the borehole. It sustains axial tension by its dead weight, internal pressure by fluid purging and external pressure by surrounding rock formation. Tubing is to pipe through the bore to extract oil and gases from wellbore.

A notable trend that can be observed in the OCTG industry is accelerating rig count coupled with improvement in footage of wells drilled. Also, ongoing implementation of hydraulic fracturing technology and horizontal drilling is also anticipated to spur the industry growth significantly.

According to Energy Information Administration (EIA), in 2016, hydraulically fractured wells accounted for around 68 % of all natural gas and oil wells drilled in U.S. and 83% of the overall linear footage drilled. Horizontal drilling activities in U.S. boost the demand for premium-grade products, providing better margins on OCTG.

Based on the product categories, the OCTG market can be segmented into drill pipe, casing, and tubing.

Market Segmentation of OCTG Market

By Type

• Drill Pipe
• Casing
• Tubing
• Other

By Area of Application

• Onshore
• Offshore

By Grade

• Premium
• API

Geographically, this report split global into several key Regions, revenue (Million USD) the geography (North America, Europe, Asia-Pacific, Latin America and Middle East & Africa) focusing on key countries in each region.

It also covers market drivers, restraints, opportunities, challenges, and key issues in Global Post-Consumer Oil Country Tubular Goods (OCTG) Market.

Key Benefits for Oil Country Tubular Goods (OCTG) Market Reports

The analysis provides an exhaustive investigation of the global Post-Consumer Oil Country Tubular Goods (OCTG) market together with the future projections to assess the investment feasibility.

Furthermore, the report includes both quantitative and qualitative analyses of the Post-Consumer Oil Country Tubular Goods (OCTG) market throughout the forecast period. The report also comprehends business opportunities and scope for expansion.

Besides this, it provides insights into market threats or barriers and the impact of regulatory framework to give an executive-level blueprint the Post-Consumer Oil Country Tubular Goods (OCTG) market.

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Key Features of the Report:

• Oil Country Tubular Goods (OCTG) Market Structure: Overview, Industry PESTEL Analysis and Supply Chain Analysis

• Competitive Landscape and Dynamics: Oil Country Tubular Goods (OCTG) Market share, Product Portfolio, Product Launches, and so on.

• Attractive Oil Country Tubular Goods (OCTG) market segments and associated growth opportunities.

• Key development open doors for the present and new players of Oil Country Tubular Goods (OCTG).

• Key Growth factors.

Table of Content

1. Chapter - Report Methodology

1.1. Research Process
1.2. Primary Research
1.3. Secondary Research
1.4. Market Size Estimates
1.5. Data Triangulation
1.6. Forecast Model
1.7. USP’s of Report
1.8. Report Description

2. Chapter – Global Oil Country Tubular Goods (OCTG) Market Overview: Qualitative Analysis

2.1. Market Introduction
2.2. Executive
2.3. Global Oil Country Tubular Goods (OCTG) Market Classification
2.4. Market Drivers
2.5. Market Restraints
2.6. Market Opportunity
2.7. Oil Country Tubular Goods (OCTG) Market: Trends
2.8. Porter’s Five Forces Analysis
2.9. Market Attractiveness Analysis

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