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Technological Advancements and Energy Demand Drive OCTG Market Forward

01-20-2025 02:40 PM CET | Energy & Environment

Press release from: MAXIMIZE MARKET RESEARCH PVT. LTD

Technological Advancements and Energy Demand Drive OCTG Market

๐†๐ฅ๐จ๐›๐š๐ฅ ๐Ž๐ข๐ฅ ๐‚๐จ๐ฎ๐ง๐ญ๐ซ๐ฒ ๐“๐ฎ๐›๐ฎ๐ฅ๐š๐ซ ๐†๐จ๐จ๐๐ฌ (๐Ž๐‚๐“๐†) ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐๐จ๐ข๐ฌ๐ž๐ ๐Ÿ๐จ๐ซ ๐’๐ข๐ ๐ง๐ข๐Ÿ๐ข๐œ๐š๐ง๐ญ ๐†๐ซ๐จ๐ฐ๐ญ๐ก

The global Oil Country Tubular Goods (OCTG) market, encompassing essential components such as casing, drill pipes, and tubing used in oil and gas exploration and production, is on a trajectory of substantial expansion. Valued at approximately USD 59.98 billion in 2023, the market is projected to reach USD 96.95 billion by 2030, exhibiting a Compound Annual Growth Rate (CAGR) of 7.1% during the forecast period.

๐†๐ฅ๐จ๐›๐š๐ฅ ๐Ž๐‚๐“๐† ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐ƒ๐ฒ๐ง๐š๐ฆ๐ข๐œ๐ฌ

The primary drivers of this growth include the rising global demand for energy, advancements in drilling technologies, and increased exploration activities, particularly in unconventional and offshore reserves. The adoption of horizontal drilling and hydraulic fracturing has notably boosted the demand for OCTG products, enabling access to previously untapped resources.

๐„๐š๐ ๐ž๐ซ ๐ญ๐จ ๐๐ข๐ฌ๐œ๐จ๐ฏ๐ž๐ซ ๐ฐ๐ก๐š๐ญ'๐ฌ ๐ฐ๐ข๐ญ๐ก๐ข๐ง? ๐’๐ž๐œ๐ฎ๐ซ๐ž ๐ฒ๐จ๐ฎ๐ซ ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž ๐œ๐จ๐ฉ๐ฒ ๐จ๐Ÿ ๐ญ๐ก๐ž ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ ๐ญ๐จ๐๐š๐ฒ:https://www.maximizemarketresearch.com/request-sample/54208/

๐†๐ฅ๐จ๐›๐š๐ฅ ๐Ž๐‚๐“๐† ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ ๐ข๐จ๐ง๐š๐ฅ ๐ˆ๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐š๐ง๐ ๐Š๐ž๐ฒ ๐ƒ๐ž๐ฏ๐ž๐ฅ๐จ๐ฉ๐ฆ๐ž๐ง๐ญ๐ฌ

๐•๐ข๐ž๐ญ๐ง๐š๐ฆ: ๐Ž๐‚๐“๐† ๐Ž๐ฉ๐ฉ๐จ๐ซ๐ญ๐ฎ๐ง๐ข๐ญ๐ข๐ž๐ฌ ๐ข๐ง ๐•๐ข๐ž๐ญ๐ง๐š๐ฆ

Vietnam's oil and gas sector is experiencing a surge in mergers and acquisitions (M&A), attracting significant foreign investment. Notably, in February 2024, Siam Commercial Bank PCL from Thailand acquired Home Credit Vietnam, a leading consumer finance provider, for approximately USD 851.7 million. This influx of capital is expected to bolster the OCTG market, supporting the nation's expanding exploration and production activities.


๐“๐ก๐š๐ข๐ฅ๐š๐ง๐: ๐†๐ฅ๐จ๐›๐š๐ฅ ๐Ž๐‚๐“๐† ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐ข๐ง ๐“๐ก๐š๐ข๐ฅ๐š๐ง๐

Thailand's strategic investments in neighboring countries' energy sectors reflect its commitment to enhancing regional energy security. The acquisition of renewable energy assets in Vietnam underscores Thailand's proactive approach to securing energy resources, which may lead to increased demand for OCTG products to support these initiatives.

๐‰๐š๐ฉ๐š๐ง: ๐†๐ฅ๐จ๐›๐š๐ฅ ๐Ž๐‚๐“๐† ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐“๐ซ๐ž๐ง๐๐ฌ ๐ข๐ง ๐‰๐š๐ฉ๐š๐ง

Japanese corporations are actively participating in Vietnam's M&A landscape, with significant investments such as Sumitomo Mitsui's USD 1.3 billion infusion into FE Credit. These strategic moves not only strengthen Japan's presence in Southeast Asia but also indicate a broader trend of securing energy assets, potentially increasing the demand for OCTG products to support these ventures.

๐’๐จ๐ฎ๐ญ๐ก ๐Š๐จ๐ซ๐ž๐š: ๐†๐ฅ๐จ๐›๐š๐ฅ ๐Ž๐‚๐“๐† ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‚๐จ๐ง๐ฌ๐จ๐ฅ๐ข๐๐š๐ญ๐ข๐จ๐ง ๐ข๐ง ๐’๐จ๐ฎ๐ญ๐ก ๐Š๐จ๐ซ๐ž๐š

South Korean firms are expanding their footprint in Vietnam's energy sector, exemplified by SK Group Corp's acquisition of Iscvina Manufacturing, a semiconductor producer, for VND 7,450 billion (USD 300 million). This strategic move aligns with South Korea's broader objectives of securing energy resources and technological assets, potentially driving the demand for OCTG products to support these endeavors.

๐’๐ข๐ง๐ ๐š๐ฉ๐จ๐ซ๐ž: ๐†๐ฅ๐จ๐›๐š๐ฅ ๐Ž๐‚๐“๐† ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐”๐ฉ๐๐š๐ญ๐ข๐จ๐ง ๐ข๐ง ๐’๐ข๐ง๐ ๐š๐ฉ๐จ๐ซ๐ž

Singaporean investors are actively engaging in Vietnam's M&A market, with notable investments such as SK South East Asia Investment's USD 410 million stake in Vincommerce. These strategic investments reflect Singapore's commitment to expanding its influence in the regional energy sector, potentially leading to increased demand for OCTG products to support these initiatives.

๐”๐ง๐ข๐ญ๐ž๐ ๐’๐ญ๐š๐ญ๐ž๐ฌ: ๐†๐ฅ๐จ๐›๐š๐ฅ ๐Ž๐‚๐“๐† ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐†๐ซ๐จ๐ฐ๐ญ๐ก ๐ข๐ง ๐ญ๐ก๐ž ๐”๐ง๐ข๐ญ๐ž๐ ๐’๐ญ๐š๐ญ๐ž๐ฌ

The United States continues to lead in oil and gas exploration, with a significant increase in active well service rig counts. In 2021, the deployment of active well service rigs in the U.S. increased by 22.23%, rising from 738 in 2020 to nearly 949 in 2021. This surge in drilling activities underscores the robust demand for OCTG products to support the nation's expanding energy production.

๐„๐ฎ๐ซ๐จ๐ฉ๐ž: ๐†๐ฅ๐จ๐›๐š๐ฅ ๐Ž๐‚๐“๐† ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐“๐ซ๐ž๐ง๐๐ฌ ๐ข๐ง ๐„๐ฎ๐ซ๐จ๐ฉ๐ž

European countries are intensifying their oil and gas exploration and production operations, driving the demand for OCTG products. The region's focus on energy security and diversification of energy sources is expected to bolster the OCTG market, supporting the continent's strategic energy initiatives.


๐‚๐ฎ๐ซ๐ข๐จ๐ฎ๐ฌ ๐ญ๐จ ๐ฉ๐ž๐ž๐ค ๐ข๐ง๐ฌ๐ข๐๐ž? ๐†๐ซ๐š๐› ๐ฒ๐จ๐ฎ๐ซ ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž ๐œ๐จ๐ฉ๐ฒ ๐จ๐Ÿ ๐ญ๐ก๐ข๐ฌ ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ ๐ง๐จ๐ฐ:https://www.maximizemarketresearch.com/request-sample/54208/

๐†๐ฅ๐จ๐›๐š๐ฅ ๐Ž๐‚๐“๐† ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ๐š๐ญ๐ข๐จ๐ง

๐›๐ฒ ๐๐ซ๐จ๐๐ฎ๐œ๐ญ ๐“๐ฒ๐ฉ๐ž

Casing
Drill Pipe
Tubing
Others

๐›๐ฒ ๐๐ซ๐จ๐œ๐ž๐ฌ๐ฌ

Seamless
Electric resistance welding

๐›๐ฒ ๐†๐ซ๐š๐๐ž

Premium grade
API grade

๐›๐ฒ ๐€๐ฉ๐ฉ๐ฅ๐ข๐œ๐š๐ญ๐ข๐จ๐ง

Onshore
Offshore

๐†๐ฅ๐จ๐›๐š๐ฅ ๐Ž๐‚๐“๐† ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐Š๐ž๐ฒ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ

Tata Steel
ACE OCTG
JFE Steel
ISMT
Vallourec SA
Continental Alloys
Tenaris SA
MRC Global
ILJIN Steel America
Nippon Steel
TPCO Enterprise, Inc.
Steel Tubular Products Inc.
Jindal Steel & Power
TMK Ipsco Enterprises Inc.
National - Oilwell Varco, Inc.
Benteler International
Sumitomo Metal Corporation

๐ƒ๐ข๐ฏ๐ž ๐ƒ๐ž๐ž๐ฉ๐ž๐ซ ๐ข๐ง๐ญ๐จ ๐ญ๐ก๐ž ๐ƒ๐š๐ญ๐š! ๐„๐ฑ๐ฉ๐ฅ๐จ๐ซ๐ž ๐ญ๐ก๐ž ๐…๐ฎ๐ฅ๐ฅ ๐’๐ญ๐ฎ๐๐ฒ ๐จ๐ง ๐Ž๐ฎ๐ซ ๐–๐ž๐›๐ฉ๐š๐ ๐ž ๐๐จ๐ฐ: https://www.maximizemarketresearch.com/market-report/global-octg-market/54208/

๐Š๐ž๐ฒ ๐ช๐ฎ๐ž๐ฌ๐ญ๐ข๐จ๐ง๐ฌ ๐š๐ง๐ฌ๐ฐ๐ž๐ซ๐ž๐ ๐ข๐ง ๐ญ๐ก๐ž ๐†๐ฅ๐จ๐›๐š๐ฅ ๐Ž๐‚๐“๐† ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐š๐ซ๐ž:

What is Global OCTG ?
What is the growth rate of the Global OCTG Market?
Who are the key players in the Global OCTG market?
Who are the leading companies and what are their portfolios in Global OCTG Market?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Global OCTG Market?
Which are the factors expected to drive the Global OCTG market growth?
What are the different segments of the Global OCTG Market?
What growth strategies are the players considering to increase their presence in Global OCTG ?
What are the upcoming industry applications and trends for the Global OCTG Market?
What segments are covered in the Global OCTG Market?
What segments are covered in the Global OCTG Market?
What are the key opportunities in the market?
What factors restrain the market growth?


๐„๐ฑ๐œ๐ข๐ญ๐ž๐ ๐ญ๐จ ๐๐ข๐ฏ๐ž ๐ข๐ง? ๐‘๐ž๐ช๐ฎ๐ž๐ฌ๐ญ ๐ฒ๐จ๐ฎ๐ซ ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž ๐œ๐จ๐ฉ๐ฒ ๐จ๐Ÿ ๐ญ๐ก๐ž ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ ๐ญ๐จ ๐ฎ๐ง๐œ๐จ๐ฏ๐ž๐ซ ๐ข๐ญ๐ฌ ๐œ๐จ๐ง๐ญ๐ž๐ง๐ญ๐ฌ:https://www.maximizemarketresearch.com/request-sample/54208/

๐Š๐ž๐ฒ ๐Ž๐Ÿ๐Ÿ๐ž๐ซ๐ข๐ง๐ ๐ฌ:

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 by segment with their sub-segments 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
Lucrative business opportunities with SWOT analysis
Recommendations

๐‹๐š๐ญ๐ž๐ฌ๐ญ ๐œ๐ฎ๐ญ๐ญ๐ข๐ง๐ -๐ž๐๐ ๐ž ๐ซ๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐Ÿ๐ซ๐จ๐ฆ ๐Œ๐š๐ฑ๐ข๐ฆ๐ข๐ณ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐ข๐ฌ ๐ง๐จ๐ฐ ๐ญ๐ซ๐ž๐ง๐๐ข๐ง๐ :

Global Pearlescent Pigment Market https://www.maximizemarketresearch.com/market-report/global-pearlescent-pigment-market/80641/

Global Calcium Formate Market https://www.maximizemarketresearch.com/market-report/global-calcium-formate-market/62169/

Global PoE Injectors Market https://www.maximizemarketresearch.com/market-report/global-poe-injectors-market/39273/

Home Fitness equipment Market https://www.maximizemarketresearch.com/market-report/global-home-fitness-equipment-market/103369/

Global Transdermal Skin Patches Market https://www.maximizemarketresearch.com/market-report/global-transdermal-skin-patches-market/36276/

Global Nanofibers Market https://www.maximizemarketresearch.com/market-report/global-nanofibers-market/30446/

Wireless EV Charging Market https://www.maximizemarketresearch.com/market-report/wireless-ev-charging-market/3025/

Global Clinical Oncology Next-Generation Sequencing Market https://www.maximizemarketresearch.com/market-report/global-clinical-oncology-next-generation-sequencing-market/100383/

Carpets and Rugs Market https://www.maximizemarketresearch.com/market-report/carpets-and-rugs-market/187345/

Flavor Enhancer Market https://www.maximizemarketresearch.com/market-report/global-flavor-enhancer-market/32455/

๐‚๐จ๐ง๐ญ๐š๐œ๐ญ ๐Œ๐š๐ฑ๐ข๐ฆ๐ข๐ณ๐ž ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก:

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Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.

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The new report published by The Business Research Company, titled ""Oil Country Tubular Goods (OCTG) Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends. As per the report, the oil country tubular goods (octg) market size has grown strongly in recent years. It willโ€ฆ
Types of OCTG casing
Types of OCTG casing OCTG casing is a steel pipe used to support the wall of oil and gas wells to ensure the normal operation of the entire oil well after the drilling process and completion. Each well uses several layers of casing according to different drilling depths and geological conditions. Cement is used to cement the well after the casing is run down. It is different from tubing and drillโ€ฆ
Global Production Tubing (OCTG) Market Size, Trends, and Forecast 2019
The report represents the statistical data in the form of tables, charts, and info-graphics to assess the market, its growth and development, and market trends of the global Production Tubing (OCTG) market during the projected period. ย QY Research has used a framework of primary and secondary research to make this report a full-proof one. Request Sample Report and Full Report TOC: : ย  https://www.qyresearch.com/sample-form/form/973052/global-production-tubing-octg-market The following manufacturers are covered: ย ย ย ย Sandvik (Kanthal) ย ย ย ย Tejas Tubular ย ย ย ย Tenaris ย ย ย ย Jindal Pipes ย ย ย ย U. S.โ€ฆ
Global Oil Country Tubular Goods(OCTG) Market Research Report 2017
This report studies Oil Country Tubular Goods(OCTG) in Global market, especially in North America, Europe, China, Japan, Southeast Asia and India, focuses on top manufacturers in global market, with capacity, production, price, revenue and market share for each manufacturer, covering Vallourec Tenaris TMK USS NSSMC JFE TPCO Arcelor Mittal Chelyabinsk Pipe Evraz HUSTEEL SANDVIK Energex Tube Northwest Pipe SB international Continental Alloys&Services Jiangsu Yulong Steel Pipe Jiuli KINGLAND PIPELINE Anhui Tianda Oil Pipe Company BOHAI STEEL GROUP CNPC BAOJI PETROLEUM STEEL PIPE Get sample report @ http://www.qyresearchreports.com/sample/sample.php?rep_id=929371&type=E Market Segment by Regions, this report splitsโ€ฆ
Global OCTG Market: Economic Growth of Developing Countries Stimulating Demand
A new report on the global OCTG market has been recently added to the repository of QYResearchReports.com. The research study, titled โ€œGlobal OCTG (Oil Country Tubular Goods) Market 2016 Industry, Analysis, Research, Share, Growth, Sales, Trends, Supply, Forecast to 2021,โ€ presents an unbiased analysis of this market in view of its historical and current scenario. Key trends and growth prospects in the global market for OCTG have been carefully observedโ€ฆ
Global Oil Country Tubular Goods(OCTG) Market Research Report 2021
Summary This report studies Oil Country Tubular Goods(OCTG) in Global market, especially in North America, Europe, China, Japan, Southeast Asia and India, focuses on top manufacturers in global market, with sales, price, revenue and market share for each manufacturer, covering Get Sample Report @ http://www.reportbazzar.com/request-sample/?pid=630818&ptitle=Global+Oil+Country+Tubular+Goods%28OCTG%29+Market+Research+Report+2021&req=Sample Vallourec Tenaris TMK USS NSSMC JFE TPCO Arcelor Mittal Chelyabinsk Pipe Evraz HUSTEEL SANDVIK Energex Tube (JMC) Northwest Pipe SB international Continental Alloys & Services Jiangsu Yulong Steel Pipe Jiuli KINGLAND PIPELINE Anhui Tianda Oil Pipe Company BOHAI STEEL GROUP CNPC BAOJI PETROLEUM STEEL PIPE Market Segment by Regions, thisโ€ฆ