Market Research Report
Global Oil Country Tubular Goods Market, By Manufacturing Process (Electrical Resistance Welded & Seamless), Grade (API Grade & Premium Grade), Product, Application, Region, Competition, Forecast & Opportunities, 2025
|Published by||TechSci Research||Product code||933904|
|Published||Content info||113 Pages
Delivery time: Inquiry
|Global Oil Country Tubular Goods Market, By Manufacturing Process (Electrical Resistance Welded & Seamless), Grade (API Grade & Premium Grade), Product, Application, Region, Competition, Forecast & Opportunities, 2025|
|Published: May 1, 2020||Content info: 113 Pages||
Global Oil Country Tubular Goods (OCTG) market was valued at $ 18.2 billion in 2019 and is projected to reach $ 21.7 billion by 2025. Anticipated growth in the market can be attributed to the increasing demand for oil & gas, growing exploration & production activities, and rising number of technological advancements, especially in the field of drilling such as horizontal drilling & multilateral drilling. In terms of manufacturing process, the global OCTG market is categorized into Electrical Resistance Welded and Seamless segments, with Seamless segment leading the market on account of higher user preference in harsh drilling environments. Nevertheless, the welded segment will also grow as these pipes are quite cost-effective.
In terms of Product segments, the global OCTG market is categorized into Well Casing, Production Tubing, Drill Pipe and Others segments. Well Casing segment accounts for the largest share in the market, followed by Production Tubing and Drill Pipe segments. In terms of Application segments, the global oil country tubular goods market is categorized into Onshore & Offshore, with Onshore segment accounting for around 80% of the market share.
North America is expected to continue its dominance in the global OCTG market through 2025, followed by Middle East & Africa. North America and MEA would continue to be the major markets, with both the regions cumulatively accounting for around two-thirds of the global OCTG market in 2019. However, the current global economic slowdown and spread of Covid-19 pandemic is posing a major threat that would severely affect the global OCTG market in the near term.
Years considered for this report:
Historical Years: 2015 - 2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021 - 2025F
Some of the major players operating in the global Oil Country Tubular Goods market include MRC Global, JFE Steel Corporation, TMK Ipsco Enterprise Inc., National Oil Well Varco Inc., Tenaris SA, Jindal SAW Ltd., Arcelor Mittal S.A., Nippo Steel & Sumitomo Metal Corporation, Vallourec, U.S. Steel Tubular Products Inc., among others.
In order to perform the study, TechSci Research conducted primary as well as exhaustive secondary research. Initially, TechSci Research prepared an exhaustive list of the global OCTG companies. Subsequently, TechSci Research conducted primary research surveys, which included primary calls, e-mail responses, etc., with the identified companies. While interviewing, the respondents were asked about their major competitors. Through this technique, TechSci Research was able to include companies which could not be identified due to the limitations of secondary research.
TechSci Research calculated the market size for Global Oil Country Tubular Goods market using a bottom-up and top-down approach, wherein Global OCTG companies' revenue for different products (well casing, production tubing, drill pipe) was recorded as well as forecast for the future years. TechSci Research sourced these values from industry experts and company representatives, and externally validated by analyzing historical data of respective OCTG companies to arrive at the overall market size. Multiple secondary sources such as directories, company websites, company annual reports, white papers, investor presentations and financial reports were also analyzed by TechSci Research.
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as oil country tubular goods companies, distributors and policy makers. The study would enable the stakeholders in identifying the growing segments over the coming years, thereby aiding them in taking investment decisions and facilitating their expansion.
In this report, Global Oil Country Tubular Goods market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Electrical Resistance Welded
Middle East & Africa
Company Profiles: Detailed analysis of the major companies operating in the global OCTG market.
Available Customizations: With the given market data, 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).