Oil and Gas Tubular Goods MarketFebruary 4, 2021 ⚊ 6 Min read ⚊ Views 374 ⚊ BUSINESS
Global Oil and Gas Tubular Goods Market was valued US$ XX Mn in 2019 and is expected to reach US$ XX Mn by 2027, at a CAGR of XX % during a forecast period.
Global Oil and Gas Tubular Goods Market
The report study has analyzed revenue impact of the COVID-19 pandemic on the sales revenue of the market leader, market followers and market disrupters in the report and same is reflected in our analysis.
The Oil and gas tubular goods are known as Oil Country Tubular Goods (OCTG). It is widely used in production and exploration activities on offshore and onshore reserves.
Global Oil and Gas Tubular Goods Market, Dynamics:
An increase in oil and gas E&P activities through unconventional sources and offshore locations are expected to increase the need for OCTG connections with enhanced specifications. The High investments in the upstream oil and gas sector are expected to lead to the number of oil and gas E&P activities that also stimulate the OCTG product use like drill pipes, casing, and tubing. Governments and private entities have shown their keen interest in discovering new oil wells to meet future oil demands. They are also increasing oil and gas production as a part of their initiatives to ensure energy security. For instance, the Indian Government has notified changes in the New Exploration and Licensing Policy (NELP) to attract private and foreign investments in oil and gas E&P activities, which is expected to increase the adoption of the tubular goods products.
Global Oil and Gas Tubular Goods Market, Segment Analysis:
The premium-grade segment is expected to grow at a XX% rate of CAGR during the forecast period. The demand for the premium grade is increasing from the application of the offshore and onshore sectors. It is widely used in gas wells, horizontal wells, and high pressure and temperature wells. Also, an increase in offshore rig count and deep-water exploration in remote areas with harsh environments are expected to boost the use of premium quality drilling equipment. Also, the substantial expansion of the existing offshore wells both in deep and ultra-deep waters, primarily in the Gulf of Mexico, Persian Gulf, North Sea, and the South China Sea are expected to increase the adoption of the premium grade equipment.
The seamless segment is expected to contribute XX% share in the global oil and gas tubular goods market. The Seamless OCTG are widely preferred during oil and gas E&P activities in harsh environments because of their strong characteristic. It offers Superior mechanical properties like high tensile strength, which is expected to increase its utilization in high-pressure drilling environments. Also, seamless pipes are thinner and lighter, which possess uniformity of shape that is expected to drive the market growth.
Global Oil and Gas Tubular Goods Market, Regional Analysis:
North America is expected to contribute XX% share in the global oil and gas tubular goods market. The region is expected to offer opportunities to market key players during the forecast period. An increase in the onshore and offshore oil and gas projects, investments, and initiatives undertaken by governments are some of the driving factors behind the regional market growth. North American oil exploration-and-production companies are delivering modest production growth during the forecast period. The presence of prominent oil companies and the discovery of shale gas are likely to boost the market growth.
Global Oil and Gas Tubular Goods Market, Competitive Analysis:
Key players operating in the global oil and gas tubular goods market is offering advanced, premium OCTG products because of the increasing demand for premium OCTG connections. Also, vendors are more focusing on the growth prospects in the fast-growing segments to boost the growth of the oil and gas tubular goods market. Governments and private entities across the globe are adopting strategies to meet the energy demand that is expected to force high investment by E&P ventures. Also, some of the companies have signed definitive agreements to enhance the accessibility of their products. For Instance, in 2019, the Romanian OCTG giant has signed a strategic agreement with Novatek, which will help to supply Novatek premium casing and tubing pipe products with formula-based pricing.
The objective of the report is to present a comprehensive analysis of the Global Oil and Gas Tubular Goods Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Oil and Gas Tubular Goods Market dynamics, structure by analyzing the market segments and projects the Global Oil and Gas Tubular Goods Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Oil and Gas Tubular Goods Market make the report investor’s guide.
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Scope of the Global Oil and Gas Tubular Goods Market
Global Oil and Gas Tubular Goods Market, By Grade
Global Oil and Gas Tubular Goods Market, By Product
• Electric Resistance Welded
Global Oil and Gas Tubular Goods Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in Global Oil and Gas Tubular Goods Market
• TMK Group
• Unite States Steel Corporation
• Nippon Steel and Sumitomo Metal Corporation
• National Oilwell Varco
• SPIE Oil and Gas Services
• Hunting Energy Services
• Key Pipe Co.LLC
• Argus Machine Co. Ltd
• Benteler International AG
• MRC Global Inc.
• O.C.T.G. Ltd.
• Centric Pipe, LLC
• U.S Steel Tubular Products
• Sandvik AB
• Energex Tube
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