The Global Oil Country Tubular Goods Market is expected to reach a value of US$ 34.2 billion by 2028, at a CAGR of 6.5% over the forecast period (2022 - 2028)

According to the latest research by SkyQuest Technology, the Global Oil Country Tubular Goods Market was valued at US$ 19.2 billion in 2021, and it is expected to reach a value of US$ 34.2 billion by 2028, at a CAGR of 6.5% during the forecast period of 2022 - 2028. The research provides up-to-date Oil Country Tubular Goods market analysis of the current market landscape, latest trends, drivers, and overall market environment.

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The production of oil and gas is critically necessary for the expansion of the world economy. Hydrocarbons are used extensively throughout a wide range of industrial sectors, such as transportation, power generation, production, and process. The increase in demand for oil and gas has resulted in an expansion of exploration and production activities. Governments and well-known hydrocarbon producers frequently make investments in the global oil and gas industry. Drilling is an essential step in the extraction of hydrocarbon, and it requires OCTG to perform drilling operations.

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An important portion of all drilling activities worldwide occur in the onshore segment. Drilling activities may see strong growth due to rising oil and gas consumption, which is expected to boost the OCTG market. Due to the increasing number of drilling activities in the U.S. and Canada, North America is expected to have an impact on the worldwide oil nation tubular products market. Exploration and production operations steadily increased thanks to supportive government regulations and a supportive corporate climate.

Read the market research report, " Global Oil Country Tubular Goods Market By Process (Seamless and Welded), By Product (Well Casing, Production Tubing, Drill Pipe and Others), By Application (Onshore and Offshore) & By Region - Forecast and Analysis 2022-2028" by SkyQuest

The demand from oil and gas upstream activities is driving growth in the market for premium-grade OCTG. The premium-grade applications are frequently utilized in horizontal wells, high pressure (over 5,000 psi), and high temperature (over 250 F) wells. The premium-grade OCTG is utilized for connections with more complex applications and where gas-tight sealing is required. Shale formations are expanding quickly, which is greatly advancing the quest for natural gas. Horizontal directional drilling has also made it feasible to collect natural gas from shale formations, which has greatly benefited the market for OCTG of the highest grade.
The prominent market players are constantly adopting various innovation and growth strategies to capture more market share. The key market players are Tenaris S.A. (US), TMK Group (Russia), Vallourec (France), National Oilwell Varco (US), Benteler Group (Austria), Tata Steel (India), and ArcelorMittal (Luxembourg) among others.
The report published by SkyQuest Technology Consulting provides in-depth qualitative insights, historical data, and verifiable projections about Oil Country Tubular Goods Market Revenue. The projections featured in the report have been derived using proven research methodologies and assumptions.

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Report Findings
Drivers
Growing Drilling Operations Projected to Inflate the Market
● In many parts of the world, the economic recovery led to an increase in energy use. Oil and gas are the primary energy sources in the global energy scenario. Many other operations, such as manufacturing, processing, and the creation of power, make extensive use of hydrocarbons. Oilfield service providers and operators are significantly increasing their investments in exploration and production activities in order to meet the rising demand for oil and gas. One of the main trends in the OCTG sector is this. Due to the noticeable increase in drilling operations in many parts of the world and the industry's constant growth, the outlook for the OCTG market is likely to improve.

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What does this Report Deliver?
● Market Estimation for 20+ Countries
● Oil Country Tubular Goods Market demand by Region, Sub-Region, and Country
● Customization on Segments, Regions, and Company Profiles
● 100+ tables, 150+ Figures
● Global, Regional, and Country-specific Oil Country Tubular Goods Market Trends
● Comprehensive Mapping of Oil Country Tubular Goods Industry Parameters
● Attractive Investment Proposition in the Global Oil Country Tubular Goods Industry
● Competitive Strategies Adopted by Oil Country Tubular Goods Market Key Players
● Drivers, Restraints, Opportunities, Challenges, and the impact on the Oil Country Tubular Goods Market Size
● Market growth rate till 2028
● Regulatory scenario, regional dynamics, and Oil Country Tubular Goods market insights of leading countries in each region
● In-depth Market insights by Region and Country
● Market Segmentation Trend Analysis, Opportunities, and Growth
● Porter's five force analysis to know the market's condition
● Pricing Analysis and Oil Country Tubular Goods Market Sales
● Parent market analysis
● Product portfolio benchmarking
SkyQuest has segmented the Global Oil Country Tubular Goods Market based on Process, Product, Application, and Region:
● Global Oil Country Tubular Goods Market by Process (Revenue, USD Billion, 2021 - 2028)
o Seamless
o Welded
● Global Oil Country Tubular Goods Market by Product (Revenue, USD Billion, 2021 - 2028)
o Well Casing
o Production Tubing
o Drill Pipe
o Others
● Global Oil Country Tubular Goods Market by Application (Revenue, USD Billion, 2021 - 2028)
o Onshore
o Offshore
● Global Oil Country Tubular Goods Market By Region (Revenue, USD Billion, 2021 - 2028)
o North America
▪ US
▪ Canada
o Europe
▪ Germany
▪ France
▪ UK
▪ Italy
▪ Spain
▪ Rest of Europe
o Asia Pacific
▪ China
▪ India
▪ Japan
▪ Rest of Asia Pacific
o Central & South America
▪ Brazil
▪ Rest of CSA
o Middle East & Africa
▪ GCC Countries
▪ South Africa
▪ Rest of MEA

Key Players in the Global Oil Country Tubular Goods Market
● Tenaris S.A. (US)
● TMK Group (Russia)
● Vallourec (France)
● National Oilwell Varco (US)
● Benteler Group (Austria)
● Tata Steel (India)
● Nippon Steel Corporation (Japan)
● JFE Holdings, Inc. (Japan)
● Continental Alloys & Services (US)
● ACE O.C.T.G. Ltd (Malta)
● Jindal Saw Ltd. (India)
● United States Steel Corporation (US)
● ISMT LTD (India)
● Corpac Group (US)
● ArcelorMittal (Luxembourg)

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This release was published on openPR.