Oil Country Tubular Goods (OCTG) Market was valued at US$ 59.98 Bn. in 2023. The Oil Country Tubular Goods Market size is estimated to grow at a CAGR of 7.1% over the forecast period.

A global Energy and Power business-consulting firm, Maximize Market Research, has published a market intelligence and competitive landscape report on the "Oil Country Tubular Goods (OCTG) Market." The report is a combination of primary data and secondary data and domain experts have analysed the Oil Country Tubular Goods (OCTG) Market from a local, regional and global point of view. Over the forecast period, Maximize Market Research expects the Oil Country Tubular Goods (OCTG) Market to grow from US $ 59.98 Bn. in 2023 to US $ 96.95 Bn. in 2030 at a CAGR of 7.1%

Oil Country Tubular Goods (OCTG) Market Overview

Oil country tubular goods (OCTG) are a group of seamless rolled products that include casing, drill pipe, and tubing that are exposed to different loading requirements depending on the use. The OCTG industry has seen favorable growth as crude prices have recovered, owing to increased shale production and unconventional and horizontal drilling activities.

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Oil Country Tubular Goods (OCTG) Market Dynamics

Over the forecast period, rising drilling activities are expected to drive demand for OCTG. Due to, Increased Drilling Activities along with energy demand and production. Also, Technological advancement like Horizontal drilling methods and fracturing technology. Offshore oil and gas production contributes significantly to revenue. Post-2014 oil price recovery has strengthened oil and gas sector activities. Firms have boosted investment in previously halted or delayed projects. Rising competition among petroleum companies globally is driving increased drilling activity.

Oil Country Tubular Goods (OCTG) Market Regional analysis

North America, which includes the United States, Canada, and Mexico, has the greatest market share accounting for 36.3% in 2023. As of 2023, the United States was the world's greatest crude oil production. The liberalization of the oil and gas industries in Canada and Mexico resulted in an increase in international investment, which aided the industry's expansion. Mexico is one of the biggest offshore deep-water reserves, and production is expected to increase during the forecast period. In addition, the United States is expected to continue to lead the market in terms of research and development expenditures by steelmakers, as well as supportive government policies in the form of subsidies, which have been major factors in the growth of market in the region.

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Oil Country Tubular Goods (OCTG) Market Report Scope

Market Size in 2023: US $ 59.98 Bn.

Market Size in 2030: US $ 96.95 Bn.

CAGR: 7.1%

Forecast Period: 2024-2030

Base Year: 2023

Number of Pages: 284

No. of Tables: 133

No. of Charts and Figures: 183

Segment Covered: By Product Type, Process, Grade, Application

Regional Scope: North America, Europe, Asia Pacific, Middle East and Africa, South America

Report Coverage: Market Share, Size and Forecast by Revenue | 2023-2030, Market

Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends,

Competitive Landscape, Key Players Benchmarking, Competitive Analysis, SMR Competition

Matrix, Competitive Leadership Mapping, Global Key Players' Market Ranking Analysis.

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Oil Country Tubular Goods (OCTG) Market Segmentation

By Product Type:

Casing
Drill Pipe
Tubing
Others
By Process:

Seamless
Electric resistance welding
By Grade:

Premium grade
API grade
By Application:

Onshore
Offshore

Key Players of Oil Country Tabular Goods (OCTG) Market include:

Tata Steel
ACE OCTG
JFE Steel
ISMT
Vallourec SA
Continental Alloys
Tenaris SA
MRC Global

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Key questions answered in the Oil Country Tubular Goods (OCTG) Market are

What is the growth rate of the Oil Country Tubular Goods (OCTG) Market?
Which region is expected to dominate the Oil Country Tubular Goods (OCTG) Market?
What is the expected Oil Country Tubular Goods (OCTG) Market size by 2030?
Which are the top players in the Oil Country Tubular Goods (OCTG) Market?
What are the factors driving the Oil Country Tubular Goods (OCTG) Market growth?
Which country held the largest Oil Country Tubular Goods (OCTG) Market share in 2023?

Key offerings

Past Market Size and Competitive Landscape (2018 to 2023)
Past Pricing and price curve by region (2018 to 2023)
Market Size, Share, Size & Forecast by Different Segment | 2024-2030
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation - A detailed analysis of the Offerings, Vertical, Application and Region
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of Business by Region
Recommendations

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