PUBLISHER: TechSci Research | PRODUCT CODE: 1348771
PUBLISHER: TechSci Research | PRODUCT CODE: 1348771
Oil Country Tubular Goods Market -Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Manufacturing Process, By Grade, By Product, By Application, By Region
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Global Oil Country Tubular Goods Market is anticipated to grow at a steady pace in the forecast period, 2024-2028. The industry's need for oil country tubular products is being driven by the growing energy demand, which is pushing the need for exploration activities and investments. Oil country tubular goods, which are used to conduct drilling without pause, are a collection of different steel tubular items such well casing, production tubing, and drill pipe. Tubular pipes come in a variety of grades and diameters and can be seamless or welded.
Rising oil and Gas Propelling the Market Growth in the Forecast Period
Every growing nation aspires for economic growth, and as production activities rise, the supply of natural resources also rises. As a result, the worldwide market for oil country tubular goods will grow. This will boost production and exploration activities in the petroleum and gas industries.
| Market Overview | |
|---|---|
| Forecast Period | 2024-2028 |
| Market Size 2022 | USD 41.34 Billion |
| Market Size 2028 | USD 60.33 Billion |
| CAGR (2023-2028) | 6.5% |
| Fastest Growing Segment | Offshore |
| Largest Market | North America |
The market for tubular items from oil-producing nations is quite profitable. The oil and gas sector requires a significant amount of funding. Therefore, maintaining balance in the production of crude oil and gas is essential to prevent any loss of cash, equipment, or resources. This is what propels the worldwide tubular goods market in oil-producing nations.
As production operations in the oil and gas sector are rising, the prospects for oil country tubular goods are quite favorable. Due to the increased energy demand, more exploration activities and expenditures are required, which is further fueling the industry's need for OCTG goods. Due to the industry's expanding production operations, the prospects for oil country tubular goods are impressive. The high energy demand has increased the requirement for exploratory activities and investments, which is further fueling the industry's need for OCTG goods.
Growing Quality Footage Trend and Rising New Projects Investment in Oil Sector
An increase in rig count, which is followed by a rise in quality footage, is a notable trend in the oil country tubular goods industry. Additionally, it is anticipated that continued use of horizontal drilling and hydraulic fracturing technology would greatly accelerate industry development.
Over the next two years, the US Energy Information Administration (EIA) forecasts a rise in crude oil output in the US Federal Gulf of Mexico (GOM). Additionally, by the end of 2022, 13 new projects might produce around 200,000 barrels per day (b/d), or about 12% of the entire Gulf of Mexico crude oil output. This would result in a large increase in the demand for high-grade oil country tubular goods throughout the projection period.
In order to develop an oil country tubular goods (OCTG) threading mill in Nashik, India, Jindal SAW and Hunting Energy Services announced in January 2022 that they had formed a joint venture (JV). Moreover, Jindal SAW, have Investment USD 20-25 million in Equipment for oil and gas drilling services.
High startup cost and low skilled Labor to restrict market growth
The Energy Information Administration (EIA) estimates that, roughly 68% of all-natural gas and oil wells developed in the United States were hydraulically fractured wells. In the global oil country tubular goods market, a lack of qualified workforce and high startup costs might be a barrier.
Market Segmentation
The Global Oil Country Tubular Goods Market is divided into manufacturing process, grade, product, and application. Based on manufacturing process the market is segmented into Electric Resistance Welded, Seamless. Based on Grade the market is segmented into API Grade, Premium Grade. Based on Product, the market is divided into Well Casing, Production Tubing, Drill Pipe, Others. Based on Application, the market is segmented into Onshore and Offshore.
Market Players
Major market players in the Global Oil Country Tubular Goods Market are MRC Global Inc, JFE Steel Corporation, TMK Ipsco Enterprise Inc, National Oil Well Varco Inc, Tenaris SA, Jindal SAW Ltd, Arcelor Mittal S.A, Nippon Steel, Vallourec S.A, U.S. Steel Tubular Products Inc.
Report Scope:
In this report, the Global Oil Country Tubular Goods Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Oil Country Tubular Goods Market, By Manufacturing Process:
- Electric Resistance Welded
- Seamless
Oil Country Tubular Goods Market, By Grade:
- API Grade
- Premium Grade
Oil Country Tubular Goods Market, By Product:
- Well Casing
- Production Tubing
- Drill Pipe
- Others
Oil Country Tubular Goods Market, By Application:
- Onshore
- Offshore
Oil Country Tubular Goods Market, By Region:
- Asia-Pacific
- China
- Indian
- Japan
- South Korea
- Australia
- Europe
- United Kingdom
- France
- Russia
- Italy
- Spain
- North America
- United States
- Canada
- Mexico
- South America
- Brazil
- Venezuela
- Colombia
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- UAE
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Oil Country Tubular Goods Market.
Available Customizations
TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
Table of Contents
roduct Overview
- 1.1. Market Definition
- 1.2. Scope of the Market
- 1.3. Markets Covered
- 1.4. Years Considered for Study
- 1.5. Key Market Segmentations
2. Research Methodology
- 2.1. Objective of the Study
- 2.2. Baseline Methodology
- 2.3. Key Industry Partners
- 2.4. Major Association and Secondary Sources
- 2.5. Forecasting Methodology
- 2.6. Data Triangulation & Validation
- 2.7. Assumptions and Limitations
3. Impact of COVID-19 on Global Oil Country Tubular Goods Market
4. Executive Summary
5. Global Oil Country Tubular Goods Market Outlook
- 5.1. Market Size & Forecast
- 5.1.1. By Value
- 5.2. Market Share & Forecast
- 5.2.1. By Manufacturing Process (Electric Resistance Welded, Seamless)
- 5.2.2. By Grade (API Grade, Premium Grade)
- 5.2.3. By Product (Well Casing, Production Tubing, Drill Pipe, Others)
- 5.2.4. By Application (Onshore, Offshore)
- 5.2.5. By Region (Asia-Pacific, Europe, North America, South America and Middle East & Africa)
- 5.3. By Company (2022)
- 5.4. Market Map
6. Asia-Pacific Oil Country Tubular Goods Market Outlook
- 6.1. Market Size & Forecast
- 6.1.1. By Value
- 6.2. Market Share & Forecast
- 6.2.1. By Manufacturing Process
- 6.2.2. By Grade
- 6.2.3. By Product
- 6.2.4. By Application
- 6.2.5. By Country (China, India, Japan, South Korea, Australia)
- 6.3. Asia-Pacific: Country Analysis
- 6.3.1. China Oil Country Tubular Goods Market Outlook
- 6.3.1.1. Market Size & Forecast
- 6.3.1.1.1. By Value
- 6.3.1.2. Market Share & Forecas0074
- 6.3.1.2.1. By Manufacturing Process
- 6.3.1.2.2. By Product
- 6.3.1.2.3. By Application
- 6.3.1.1. Market Size & Forecast
- 6.3.2. India Oil Country Tubular Goods Market Outlook
- 6.3.2.1. Market Size & Forecast
- 6.3.2.1.1. By Value
- 6.3.2.2. Market Share & Forecast
- 6.3.2.2.1. By Manufacturing Process
- 6.3.2.2.2. By Product
- 6.3.2.2.3. By Application
- 6.3.2.1. Market Size & Forecast
- 6.3.3. Japan Oil Country Tubular Goods Market Outlook
- 6.3.3.1. Market Size & Forecast
- 6.3.3.1.1. By Value
- 6.3.3.2. Market Share & Forecast
- 6.3.3.2.1. By Manufacturing Process
- 6.3.3.2.2. By Product
- 6.3.3.2.3. By Application
- 6.3.3.1. Market Size & Forecast
- 6.3.4. South Korea Oil Country Tubular Goods Market Outlook
- 6.3.4.1. Market Size & Forecast
- 6.3.4.1.1. By Value
- 6.3.4.2. Market Share & Forecast
- 6.3.4.2.1. By Manufacturing Process
- 6.3.4.2.2. By Product
- 6.3.4.2.3. By Application
- 6.3.4.1. Market Size & Forecast
- 6.3.5. Australia Oil Country Tubular Goods Market Outlook
- 6.3.5.1. Market Size & Forecast
- 6.3.5.1.1. By Value
- 6.3.5.2. Market Share & Forecast
- 6.3.5.2.1. By Manufacturing Process
- 6.3.5.2.2. By Product
- 6.3.5.2.3. By Application
- 6.3.5.1. Market Size & Forecast
- 6.3.1. China Oil Country Tubular Goods Market Outlook
7. Europe Oil Country Tubular Goods Market Outlook
- 7.1. Market Size & Forecast
- 7.1.1. By Value
- 7.2. Market Share & Forecast
- 7.2.1. By Manufacturing Process
- 7.2.2. By Grade
- 7.2.3. By Product
- 7.2.4. By Application
- 7.2.5. By Country (France, Russia, United Kingdom, Spain, Italy)
- 7.3. Europe: Country Analysis
- 7.3.1. France Oil Country Tubular Goods Market Outlook
- 7.3.1.1. Market Size & Forecast
- 7.3.1.1.1. By Value
- 7.3.1.2. Market Share & Forecast
- 7.3.1.2.1. By Manufacturing Process
- 7.3.1.2.2. By Product
- 7.3.1.2.3. By Application
- 7.3.1.1. Market Size & Forecast
- 7.3.2. Russia Oil Country Tubular Goods Market Outlook
- 7.3.2.1. Market Size & Forecast
- 7.3.2.1.1. By Value
- 7.3.2.2. Market Share & Forecast
- 7.3.2.2.1. By Manufacturing Process
- 7.3.2.2.2. By Product
- 7.3.2.2.3. By Application
- 7.3.2.1. Market Size & Forecast
- 7.3.3. United Kingdom Oil Country Tubular Goods Market Outlook
- 7.3.3.1. Market Size & Forecast
- 7.3.3.1.1. By Value
- 7.3.3.2. Market Share & Forecast
- 7.3.3.2.1. By Manufacturing Process
- 7.3.3.2.2. By Product
- 7.3.3.2.3. By Application
- 7.3.3.1. Market Size & Forecast
- 7.3.4. Italy Oil Country Tubular Goods Market Outlook
- 7.3.4.1. Market Size & Forecast
- 7.3.4.1.1. By Value
- 7.3.4.2. Market Share & Forecast
- 7.3.4.2.1. By Manufacturing Process
- 7.3.4.2.2. By Product
- 7.3.4.2.3. By Application
- 7.3.4.1. Market Size & Forecast
- 7.3.5. Spain Oil Country Tubular Goods Market Outlook
- 7.3.5.1. Market Size & Forecast
- 7.3.5.1.1. By Value
- 7.3.5.2. Market Share & Forecast
- 7.3.5.2.1. By Manufacturing Process
- 7.3.5.2.2. By Product
- 7.3.5.2.3. By Application
- 7.3.5.1. Market Size & Forecast
- 7.3.1. France Oil Country Tubular Goods Market Outlook
8. North America Oil Country Tubular Goods Market Outlook
- 8.1. Market Size & Forecast
- 8.1.1. By Value
- 8.2. Market Share & Forecast
- 8.2.1. By Manufacturing Process
- 8.2.2. By Grade
- 8.2.3. By Product
- 8.2.4. By Application
- 8.2.5. By Country (United States, Canada, Mexico)
- 8.3. North America: Country Analysis
- 8.3.1. United States Oil Country Tubular Goods Market Outlook
- 8.3.1.1. Market Size & Forecast
- 8.3.1.1.1. By Value
- 8.3.1.2. Market Share & Forecast
- 8.3.1.2.1. By Manufacturing Process
- 8.3.1.2.2. By Product
- 8.3.1.2.3. By Application
- 8.3.1.1. Market Size & Forecast
- 8.3.2. Canada Oil Country Tubular Goods Market Outlook
- 8.3.2.1. Market Size & Forecast
- 8.3.2.1.1. By Value
- 8.3.2.2. Market Share & Forecast
- 8.3.2.2.1. By Manufacturing Process
- 8.3.2.2.2. By Product
- 8.3.2.2.3. By Application
- 8.3.2.1. Market Size & Forecast
- 8.3.3. Mexico Oil Country Tubular Goods Market Outlook
- 8.3.3.1. Market Size & Forecast
- 8.3.3.1.1. By Value
- 8.3.3.2. Market Share & Forecast
- 8.3.3.2.1. By Manufacturing Process
- 8.3.3.2.2. By Product
- 8.3.3.2.3. By Application
- 8.3.3.1. Market Size & Forecast
- 8.3.1. United States Oil Country Tubular Goods Market Outlook
9. South America Oil Country Tubular Goods Market Outlook
- 9.1. Market Size & Forecast
- 9.1.1. By Value
- 9.2. Market Share & Forecast
- 9.2.1. By Manufacturing Process
- 9.2.2. By Grade
- 9.2.3. By Product
- 9.2.4. By Application
- 9.2.5. By Country (Brazil, Venezuela, Colombia)
- 9.3. South America: Country Analysis
- 9.3.1. Brazil Oil Country Tubular Goods Market Outlook
- 9.3.1.1. Market Size & Forecast
- 9.3.1.1.1. By Value
- 9.3.1.2. Market Share & Forecast
- 9.3.1.2.1. By Manufacturing Process
- 9.3.1.2.2. By Product
- 9.3.1.2.3. By Application
- 9.3.1.1. Market Size & Forecast
- 9.3.2. Venezuela Oil Country Tubular Goods Market Outlook
- 9.3.2.1. Market Size & Forecast
- 9.3.2.1.1. By Value
- 9.3.2.2. Market Share & Forecast
- 9.3.2.2.1. By Manufacturing Process
- 9.3.2.2.2. By Product
- 9.3.2.2.3. By Application
- 9.3.2.1. Market Size & Forecast
- 9.3.3. Colombia Oil Country Tubular Goods Market Outlook
- 9.3.3.1. Market Size & Forecast
- 9.3.3.1.1. By Value
- 9.3.3.2. Market Share & Forecast
- 9.3.3.2.1. By Manufacturing Process
- 9.3.3.2.2. By Product
- 9.3.3.2.3. By Application
- 9.3.3.1. Market Size & Forecast
- 9.3.1. Brazil Oil Country Tubular Goods Market Outlook
10. Middle East & Africa Oil Country Tubular Goods Market Outlook
- 10.1. Market Size & Forecast
- 10.1.1. By Value
- 10.2. Market Share & Forecast
- 10.2.1. By Manufacturing Process
- 10.2.2. By Grade
- 10.2.3. By Product
- 10.2.4. By Application
- 10.2.5. By Country (Saudi Arabia, South Africa, UAE)
- 10.3. Middle East & Africa: Country Analysis
- 10.3.1. South Africa Oil Country Tubular Goods Market Outlook
- 10.3.1.1. Market Size & Forecast
- 10.3.1.1.1. By Value
- 10.3.1.2. Market Share & Forecast
- 10.3.1.2.1. By Manufacturing Process
- 10.3.1.2.2. By Product
- 10.3.1.2.3. By Application
- 10.3.1.1. Market Size & Forecast
- 10.3.2. Saudi Arabia Oil Country Tubular Goods Market Outlook
- 10.3.2.1. Market Size & Forecast
- 10.3.2.1.1. By Value
- 10.3.2.2. Market Share & Forecast
- 10.3.2.2.1. By Manufacturing Process
- 10.3.2.2.2. By Product
- 10.3.2.2.3. By Application
- 10.3.2.1. Market Size & Forecast
- 10.3.3. UAE Oil Country Tubular Goods Market Outlook
- 10.3.3.1. Market Size & Forecast
- 10.3.3.1.1. By Value
- 10.3.3.2. Market Share & Forecast
- 10.3.3.2.1. By Manufacturing Process
- 10.3.3.2.2. By Product
- 10.3.3.2.3. By Application
- 10.3.3.1. Market Size & Forecast
- 10.3.1. South Africa Oil Country Tubular Goods Market Outlook
11. Market Dynamics
- 11.1. Drivers
- 11.2. Challenges
12. Market Trends & Developments
13. Company Profiles
- 13.1. MRC Global Inc,
- 13.1.1. Business Overview
- 13.1.2. Key Revenue and Financials (If Available)
- 13.1.3. Recent Developments
- 13.1.4. Key Personnel
- 13.1.5. Key Product/Services
- 13.2. JFE Steel Corporation
- 13.2.1. Business Overview
- 13.2.2. Key Revenue and Financials (If Available)
- 13.2.3. Recent Developments
- 13.2.4. Key Personnel
- 13.2.5. Key Product/Services
- 13.3. TMK Ipsco Enterprise Inc.
- 13.3.1. Business Overview
- 13.3.2. Key Revenue and Financials (If Available)
- 13.3.3. Recent Developments
- 13.3.4. Key Personnel
- 13.3.5. Key Product/Services
- 13.4. National Oil Well Varco Inc
- 13.4.1. Business Overview
- 13.4.2. Key Revenue and Financials (If Available)
- 13.4.3. Recent Developments
- 13.4.4. Key Personnel
- 13.4.5. Key Product/Services
- 13.5. Tenaris SA
- 13.5.1. Business Overview
- 13.5.2. Key Revenue and Financials (If Available)
- 13.5.3. Recent Developments
- 13.5.4. Key Personnel
- 13.5.5. Key Product/Services
- 13.6. Jindal SAW Ltd.
- 13.6.1. Business Overview
- 13.6.2. Key Revenue and Financials (If Available)
- 13.6.3. Recent Developments
- 13.6.4. Key Personnel
- 13.6.5. Key Product/Services
- 13.7. Arcelor Mittal S.A.
- 13.7.1. Business Overview
- 13.7.2. Key Revenue and Financials (If Available)
- 13.7.3. Recent Developments
- 13.7.4. Key Personnel
- 13.7.5. Key Product/Services
- 13.8. Nippon Steel
- 13.8.1. Business Overview
- 13.8.2. Key Revenue and Financials (If Available)
- 13.8.3. Recent Developments
- 13.8.4. Key Personnel
- 13.8.5. Key Product/Services
- 13.9. Vallourec S.A
- 13.9.1. Business Overview
- 13.9.2. Key Revenue and Financials (If Available)
- 13.9.3. Recent Developments
- 13.9.4. Key Personnel
- 13.9.5. Key Product/Services
- 13.10. U.S. Steel Tubular Products Inc.
- 13.10.1. Business Overview
- 13.10.2. Key Revenue and Financials (If Available)
- 13.10.3. Recent Developments
- 13.10.4. Key Personnel
- 13.10.5. Key Product/Services
14. Strategic Recommendations
15. About Us & Disclaimer
