Global Oil Country Tubular Goods (OCTG) Market 2021 is expected to register a CAGR of Growing rate%, during forecast period with Impact of Covid 19 Analysis

Oil

Global “Oil Country Tubular Goods (OCTG) Market” Report 2021 (value and volume) by company, regions, product types, end industries, history data and estimate data. Also, Report contains a comprehensive analysis of the important segments like market opportunities, import/export details, market dynamics, key manufacturers, growth rate, and key regions. This report focuses on the Oil Country Tubular Goods (OCTG) in the Global market, especially in the United States, Europe, China, Japan, South Korea, North America, India. Oil Country Tubular Goods (OCTG) Market report categorizes the market based on manufacturers, regions, type, and application. Oil Country Tubular Goods (OCTG) Market reports offer a detailed assessment of the Oil Country Tubular Goods (OCTG) including enabling technologies, current market situation, market assumptions, restraining factors.

The Global Oil Country Tubular Goods (OCTG) market swot is provided for the international markets including progress trends, competitive landscape breakdown, and key in regions development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed.

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The oil & gas exploration and production (E&P) activities are complicated processes, and require sophisticated technology and equipment. The oil & gas industry is a highly volatile and cyclical market. The fall in commodity prices had a ripple effect on the oil & gas value chain. Over several decades the oil & gas industry has looked to active drilling rig count creating demand for oilfield services, globally. The decline in oil prices and drilling activity has decreased the OCTG demand from USD 22 billion, in 2014 to USD 14 billion, in 2016. With the recovering crude prices, the OCTG demand is has witnessed a growth, driven by the increasing shale production and a subsequent hike in horizontal and unconventional drilling activity.

Increase in Drilling activities is Driving the OCTG Demand

Although factors, such as high initial investment and lack of skilled labour have always been hinderance the development of all verticals of the oil & gas industry, the push of increasing energy demand is making oil and gas exploration and production more attractive to investment. The ever-increasing demand for energy and resulting increased energy production is one of the biggest drivers for the increasing demand of the oil country tubular goods.

The collapse in oil prices in 2014 severely undercut company revenues and forced sharp cutbacks in spending. With commodities staging a recovery following a multi-year price rout, activity in the oil & gas sector has begun to strengthen. With oil & gas prices recovering, the oil & gas operator companies have increased investment for the development of the oil & gas projects, which were earlier delayed or stalled. The suppliers of OCTG are expected to benefit from the same, with increased activities on recovery. The intense competition among petroleum producers is also serving as a drive to increasing drilling activity, globally. The current trend of the petroleum industry is pushing up the demand for OCTG worldwide.

North America – the Largest OCTG Market

There has been a drastic decrease in the rig count globally since 2014, and this fall has reflected in the demand for oilfield services, in the last few years. North America still has the most number of rigs globally, followed by the Middle East. Latin America takes the third spot. With pad?based horizontal drilling in the United States becoming more in demand, the onshore rig count in North America has become less meaningful. Rig efficiency is rising in the United States, the number of wells a rig can drill each year is rising at a significant rate. The OCTG market in North America is expected to be driven in future, majorly by new well drilling and an expanding producing well base. OCTG consumption per rig per month has more than doubled since January 2012, driven by increased lateral lengths and greater drilling complexity. Horizontal drilling in the United States drives the demand for premium grades and connections, providing better margins on OCTG.

The OCTG industry has benefitted from the resurgence in the oil & gas exploration and production sector in the United States, along with the decrease in the steel prices. The emergence of the hydraulic fracturing technology and horizontal drilling methods in the last few years have significantly boosted the growth of the OCTG market. The offshore oil & gas caters to a large part of the nation demand, mostly from the regions, such as Alaska, Texas, Louisiana, and California. In the recent years, the rise in the shale resources production has contributed to the growth of the OCTG market in the United States.

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The global Oil Country Tubular Goods (OCTG) market covers the vision of participant analysis by product types, market share, applications, sales, and revenue.

Oil Country Tubular Goods (OCTG) Market Report covers the Top Key-players in 2021:-

  • National-Oilwell Varco
  • Inc.
  • ILJIN STEEL CO.
  • Nippon Steel & Sumitomo Metal Corporation
  • TPCO Enterprise
  • Inc.
  • Tenaris SA
  • TMK Ipsco Enterprises Inc.
  • U. S. Steel Tubular Products
  • Inc.
  • Vallourec SA
  • ArcelorMittal SA

Highlighted points of Oil Country Tubular Goods (OCTG) Market Size:

  • Covers the varying market dynamics of the industry.
  • In-depth analysis of market risks, opportunities, limitations, and growth of the market.
  • Includes market driving and restraining factors.
  • Participants profiles along with product description, overview, and business data.
  • Include details of five years of forecast analysis by types, regions, and applications.

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This Oil Country Tubular Goods (OCTG) Market Research/analysis Report Contains Answers to your following Questions

  • Which Manufacturing Technology is Used for Oil Country Tubular Goods (OCTG)? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
  • Who Are the Global Key Players in This Oil Country Tubular Goods (OCTG) Market? What’s Their Company Profile, Their Product Information, Contact Information?
  • What Was Global Market Status of Oil Country Tubular Goods (OCTG) Market? What Was Capacity, Production Value, Cost and PROFIT of Oil Country Tubular Goods (OCTG) Market?
  • What Is Current Market Status of Oil Country Tubular Goods (OCTG) Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of Oil Country Tubular Goods (OCTG) Market by Taking Applications and Types in Consideration?
  • What Are Projections of Global Oil Country Tubular Goods (OCTG) Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What About Import and Export?
  • What Is Oil Country Tubular Goods (OCTG) Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
  • What Is Economic Impact On Oil Country Tubular Goods (OCTG) Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
  • What Are Market Dynamics of Oil Country Tubular Goods (OCTG) Market? What Are Challenges and Opportunities?
  • What Should Be Entry Strategies, Countermeasures to Economic Impact, Marketing Channels for Oil Country Tubular Goods (OCTG) Industry?

Key Developments in the Oil Country Tubular Goods (OCTG) Market:

  • March 2018: Sumitomo Corporation of Americas (“SCOA”), a subsidiary of Sumitomo Corporation, announced their plan to acquire all shares of US based oil country tubular goods (OCTG) distributor Champions Cinco Pipe & Supply LLC from Mitsui & Co. (USA), Inc.This acquisition is likely to enhance SCOA’s position within the OCTG industry and add valuable support to its current partners and customers.
    The m

    Reasons to Purchase this Report

  • Current and future oil country tubular goods market outlook in the developed and emerging markets
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • The segment that is expected to dominate the market
  • Regions that are expected to witness fastest growth during the forecast period
  • Identify the latest developments, market shares, and strategies employed by the major market players.
  • 3 months analyst support, along with the Market Estimate sheet (in excel).

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    Finally, the report Global Oil Country Tubular Goods (OCTG) Market 2021 describes the Oil Country Tubular Goods (OCTG) industry expansion game plan, the Oil Country Tubular Goods (OCTG) industry knowledge supply, appendix, analysis findings, and the conclusion.

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