Oil Country Tubular Goods Market by Type (Casing, Drill Pipes, Tubing), Materials (Alloy Steel, Carbon Steel, Stainless Steel), Manufacturing Process, Grade, Application - Global Forecast 2024-2030


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Oil Country Tubular Goods Market by Type (Casing, Drill Pipes, Tubing), Materials (Alloy Steel, Carbon Steel, Stainless Steel), Manufacturing Process, Grade, Application - Global Forecast 2024-2030


The Oil Country Tubular Goods Market size was estimated at USD 25.39 billion in 2023 and expected to reach USD 26.99 billion in 2024, at a CAGR 6.22% to reach USD 38.75 billion by 2030.

Global Oil Country Tubular Goods MarketOil country tubular goods (OCTG) is a specialized category of equipment that is utilized in various stages of oil and gas exploration, drilling, and production processes. These tubular goods are essential components for the safe and efficient extraction of hydrocarbons from onshore and offshore wells, thereby playing a critical role in the global energy industry. OCTGs cater to a diverse range of end-use applications such as drilling activities (including vertical & horizontal drilling), deep-water projects, and enhanced oil recovery projects. Increasing global demand for energy sources and supportive government policies promoting oil and gas exploration and production (E&P) activities have propelled the demand for oil-country tubular goods. However, volatility in oil & gas prices and fluctuations in prices of raw materials used in oil-country tubular goods production can hamper the growth and adoption of the goods. Furthermore, the chances of corrosion and susceptibility of the oil country tubular goods to adverse environmental conditions reduce end-use preference for the goods. However, efforts by major manufacturers to develop innovative materials with improved mechanical properties that can withstand extreme conditions present in deeper wells or highly corrosive environments can expand the scope and applicability of oil-country tubular goods. Furthermore, the expansion of oil-country tubular goods into untapped emerging economies facilitated by collaborative efforts between key players, regulatory bodies, and local governments can create new avenues of opportunities for oil-country tubular goods.Regional InsightsThe Americas is a major player in the global OCTG market due to its vast shale reserves and robust oil and gas drilling activities. The region has experienced steady growth in recent years as operators continue to invest in advanced drilling technologies such as horizontal drilling and hydraulic fracturing. Major player manufacturers have strategically expanded their production capacities to meet increasing domestic demand for high-quality OCTG products. Asian countries such as China, India, Indonesia, Malaysia, and Thailand are experiencing rapid expansion of their oil & gas sectors due to rising energy demands from growing populations and industrialization. Consequently, there has been an upsurge in demand for quality OCTGs, which attract both local and international manufacturers into these markets. In response to the increasing demand for quality products from both domestic and foreign companies operating within Asia's O&G space. Europe remains an important player in the global OCTG market, primarily supported by extensive oil and gas production activities in some growing economies. The European Union (EU) has stringent environmental regulations that encourage operators to prioritize safety measures and utilize high-quality tubular goods for oil & gas drilling activities. These standards foster increased investment in research & development, driving technological advancements in manufacturing OCTGs that conform to these requirements.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Oil Country Tubular Goods Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Oil Country Tubular Goods Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Oil Country Tubular Goods Market, highlighting leading vendors and their innovative profiles. These include Alleima, ArcelorMittal S.A., Arvedi Group, AUTOBLOK S.P.A., Benteler Automobiltechnik GmbH, Continental Steel and Tube Company, Evraz PLC, Hunting PLC, ILJIN STEEL CO., LTD., JD Rush Company, Inc., JFE Holdings, Inc., Jindal Group, Nippon Steel Corporation, NOV Inc., Sandvik AB, Sanjack Group Co.,Ltd., SB International, Inc., Shandong Saigao Group Corporation, Shengji Group, Sumitomo Corporation, Tata Steel Limited, Techint Group, Tenaris S.A., Tenergy Equipment & Service Ltd., Threeway Steel Co.,Ltd., Tianjin Pipe Corporation, TMK Group, TPS-Technitube Röhrenwerke GmbH, Tubos India., United States Steel Corporation, Vallourec Group, and Voestalpine Tubulars GmbH & Co KG.

Market Segmentation & Coverage

This research report categorizes the Oil Country Tubular Goods Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
Casing
Drill Pipes
Tubing
Materials
Alloy Steel
Carbon Steel
Stainless Steel
Manufacturing Process
Seamless
Welded
Grade
API Grade
Premium Grade
Application
Offshore
Onshore
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Oil Country Tubular Goods Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Oil Country Tubular Goods Market?
3. What are the technology trends and regulatory frameworks in the Oil Country Tubular Goods Market?
4. What is the market share of the leading vendors in the Oil Country Tubular Goods Market?
5. Which modes and strategic moves are suitable for entering the Oil Country Tubular Goods Market?

Note: PDF & Excel + Online Access - 1 Year


1. Preface
1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Limitations
1.7. Assumptions
1.8. Stakeholders
2. Research Methodology
2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Oil Country Tubular Goods Market, by Region
5. Market Insights
5.1. Market Dynamics
5.1.1. Drivers
5.1.1.1. Increasing energy consumption and demand for oil & gas drilling
5.1.1.2. Growing prevalence of unconventional resource extraction methods
5.1.2. Restraints
5.1.2.1. Requirement of frequent maintenance and complex installation of OCTG
5.1.3. Opportunities
5.1.3.1. Introduction of specialized OCTG that can withstand difficult downhole conditions
5.1.3.2. Rising public-private investments in upstream oil & gas activities
5.1.4. Challenges
5.1.4.1. Limitations associated with corrosion and qualitative issues of OCTG
5.2. Market Segmentation Analysis
5.2.1. Type: Ability of casing to protect integrity and structural capacity of the wellbore during drilling operations
5.2.2. Material: Growing preference for stainless steel materials to tackle corrosive environmental conditions during oil and gas drilling operations
5.2.3. Manufacturing Process: Superior mechanical properties and increased pressure resistance of seamless OCTG
5.2.4. Application: Use of OCTG for harsh operating environments in offshore projects
5.3. Market Trend Analysis
5.4. Cumulative Impact of High Inflation
5.5. Porter’s Five Forces Analysis
5.5.1. Threat of New Entrants
5.5.2. Threat of Substitutes
5.5.3. Bargaining Power of Customers
5.5.4. Bargaining Power of Suppliers
5.5.5. Industry Rivalry
5.6. Value Chain & Critical Path Analysis
5.7. Regulatory Framework
6. Oil Country Tubular Goods Market, by Type
6.1. Introduction
6.2. Casing
6.3. Drill Pipes
6.4. Tubing
7. Oil Country Tubular Goods Market, by Materials
7.1. Introduction
7.2. Alloy Steel
7.3. Carbon Steel
7.4. Stainless Steel
8. Oil Country Tubular Goods Market, by Manufacturing Process
8.1. Introduction
8.2. Seamless
8.3. Welded
9. Oil Country Tubular Goods Market, by Grade
9.1. Introduction
9.2. API Grade
9.3. Premium Grade
10. Oil Country Tubular Goods Market, by Application
10.1. Introduction
10.2. Offshore
10.3. Onshore
11. Americas Oil Country Tubular Goods Market
11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States
12. Asia-Pacific Oil Country Tubular Goods Market
12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam
13. Europe, Middle East & Africa Oil Country Tubular Goods Market
13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom
14. Competitive Landscape
14.1. FPNV Positioning Matrix
14.2. Market Share Analysis, By Key Player
14.3. Competitive Scenario Analysis, By Key Player
14.3.1. Merger & Acquisition
14.3.1.1. Frontier Tubular Solutions Announces Acquisition of Lincoln Manufacturing, Enhancing its Product Offering and Expanding its Geographic Footprint
14.3.2. Agreement, Collaboration, & Partnership
14.3.2.1. Hunting PLC Signs a Collaboration Agreement With CRA
14.3.3. Award, Recognition, & Expansion
14.3.3.1. Jindal Hunting Energy Services Ltd. (JHESL) Unveils State-of-the-Art Facility in India
15. Competitive Portfolio
15.1. Key Company Profiles
15.1.1. Alleima
15.1.2. ArcelorMittal S.A.
15.1.3. Arvedi Group
15.1.4. AUTOBLOK S.P.A.
15.1.5. Benteler Automobiltechnik GmbH
15.1.6. Continental Steel and Tube Company
15.1.7. Evraz PLC
15.1.8. Hunting PLC
15.1.9. ILJIN STEEL CO., LTD.
15.1.10. JD Rush Company, Inc.
15.1.11. JFE Holdings, Inc.
15.1.12. Jindal Group
15.1.13. Nippon Steel Corporation
15.1.14. NOV Inc.
15.1.15. Sandvik AB
15.1.16. Sanjack Group Co.,Ltd.
15.1.17. SB International, Inc.
15.1.18. Shandong Saigao Group Corporation
15.1.19. Shengji Group
15.1.20. Sumitomo Corporation
15.1.21. Tata Steel Limited
15.1.22. Techint Group
15.1.23. Tenaris S.A.
15.1.24. Tenergy Equipment & Service Ltd.
15.1.25. Threeway Steel Co.,Ltd.
15.1.26. Tianjin Pipe Corporation
15.1.27. TMK Group
15.1.28. TPS-Technitube Röhrenwerke GmbH
15.1.29. Tubos India.
15.1.30. United States Steel Corporation
15.1.31. Vallourec Group
15.1.32. Voestalpine Tubulars GmbH & Co KG
15.2. Key Product Portfolio
16. Appendix
16.1. Discussion Guide
16.2. License & Pricing
FIGURE 1. OIL COUNTRY TUBULAR GOODS MARKET RESEARCH PROCESS
FIGURE 2. OIL COUNTRY TUBULAR GOODS MARKET SIZE, 2023 VS 2030
FIGURE 3. OIL COUNTRY TUBULAR GOODS MARKET SIZE, 2018-2030 (USD MILLION)
FIGURE 4. OIL COUNTRY TUBULAR GOODS MARKET SIZE, BY REGION, 2023 VS 2030 (%)
FIGURE 5. OIL COUNTRY TUBULAR GOODS MARKET SIZE, BY REGION, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 6. OIL COUNTRY TUBULAR GOODS MARKET DYNAMICS
FIGURE 7. OIL COUNTRY TUBULAR GOODS MARKET SIZE, BY TYPE, 2023 VS 2030 (%)
FIGURE 8. OIL COUNTRY TUBULAR GOODS MARKET SIZE, BY TYPE, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 9. OIL COUNTRY TUBULAR GOODS MARKET SIZE, BY MATERIALS, 2023 VS 2030 (%)
FIGURE 10. OIL COUNTRY TUBULAR GOODS MARKET SIZE, BY MATERIALS, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 11. OIL COUNTRY TUBULAR GOODS MARKET SIZE, BY MANUFACTURING PROCESS, 2023 VS 2030 (%)
FIGURE 12. OIL COUNTRY TUBULAR GOODS MARKET SIZE, BY MANUFACTURING PROCESS, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 13. OIL COUNTRY TUBULAR GOODS MARKET SIZE, BY GRADE, 2023 VS 2030 (%)
FIGURE 14. OIL COUNTRY TUBULAR GOODS MARKET SIZE, BY GRADE, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 15. OIL COUNTRY TUBULAR GOODS MARKET SIZE, BY APPLICATION, 2023 VS 2030 (%)
FIGURE 16. OIL COUNTRY TUBULAR GOODS MARKET SIZE, BY APPLICATION, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 17. AMERICAS OIL COUNTRY TUBULAR GOODS MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
FIGURE 18. AMERICAS OIL COUNTRY TUBULAR GOODS MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 19. UNITED STATES OIL COUNTRY TUBULAR GOODS MARKET SIZE, BY STATE, 2023 VS 2030 (%)
FIGURE 20. UNITED STATES OIL COUNTRY TUBULAR GOODS MARKET SIZE, BY STATE, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 21. ASIA-PACIFIC OIL COUNTRY TUBULAR GOODS MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
FIGURE 22. ASIA-PACIFIC OIL COUNTRY TUBULAR GOODS MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 23. EUROPE, MIDDLE EAST & AFRICA OIL COUNTRY TUBULAR GOODS MARKET SIZE, BY COUNTRY, 2023 VS 2030 (%)
FIGURE 24. EUROPE, MIDDLE EAST & AFRICA OIL COUNTRY TUBULAR GOODS MARKET SIZE, BY COUNTRY, 2023 VS 2024 VS 2030 (USD MILLION)
FIGURE 25. OIL COUNTRY TUBULAR GOODS MARKET, FPNV POSITIONING MATRIX, 2023
FIGURE 26. OIL COUNTRY TUBULAR GOODS MARKET SHARE, BY KEY PLAYER, 2023

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