Oil Country Tubular Goods Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028

Report
185 Pages
September 2023
Region: Global
TechSci Research
ID: 5022507

Global Oil Country Tubular Goods Market is anticipated to grow at a steady pace in the forecast period, 2024-2028

The 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.

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
Europe
North America
South America
Middle East & Africa (MEA)

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Oil Country Tubular Goods Market.

Available Customizations

The following customization options are available for the report:

Detailed analysis and profiling of additional market players (up to five).

This product will be delivered within 1-3 business days.

1. Product 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 Market4. 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
6.3.2. 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
6.3.3. 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
6.3.4. 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
6.3.5. 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

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
7.3.2. 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
7.3.3. 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
7.3.4. 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
7.3.5. 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

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
8.3.2. 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
8.3.3. 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

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
9.3.2. 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
9.3.3. 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

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
10.3.2. 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
10.3.3. 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

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 Recommendations15. About the Analyst & Disclaimer

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

MRC Global Inc,
JFE Steel Corporation
TMK Ipsco Enterprise Inc.
National Oil Well Varco Inc
Tenaris SA
Jindal SAW Ltd.
Arcelor Mittal SA
Nippon Steel
Vallourec S.A
U.S. Steel Tubular Products Inc.

Table Information

Report Attribute	Details
No. of Pages	185
Published	September 2023
Forecast Period	2022 - 2028
Estimated Market Value ( USD ) in 2022	$ 41.34 Billion
Forecasted Market Value ( USD ) by 2028	$ 60.33 Billion
Compound Annual Growth Rate	6.5%
Regions Covered	Global

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Rising oil and Gas Propelling the Market Growth in the Forecast Period

Growing Quality Footage Trend and Rising New Projects Investment in Oil Sector

High startup cost and low skilled Labor to restrict market growth

Market Segmentation

Market Players

Report Scope

Oil Country Tubular Goods Market, by Manufacturing Process:

Oil Country Tubular Goods Market, by Grade:

Oil Country Tubular Goods Market, by Product:

Oil Country Tubular Goods Market, by Application:

Oil Country Tubular Goods Market, by Region:

Competitive Landscape

Available Customizations

Table of Contents

Companies Mentioned (Partial List)

Table Information

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