According to the report the global oil country tubular goods market reached a value of USD 23.77 billion in 2022. Aided by the rising demand for oil and gas and the expanding applications of oil country tubular goods in various sectors, the market is projected to further grow at a CAGR of 7.02% between 2023 and 2028 to reach a value of USD 35.27 billion by 2028.
Oil country tubular goods refer to a family of steel tubes and related products used in oil and gas explorations and productions. The increasing demand for oil country tubular goods for ensuring efficient, safe, and environmentally sound drilling and completion of oil and gas wells is boosting the oil country tubular goods market growth. They include products like casing, tubing, and drill pipes, each playing a vital role in wellbore formation, protection of groundwater reserves, and transportation of hydrocarbons to the surface.
The increasing global energy demands are accelerating the global oil country tubular goods market expansion. With industrialisation and urbanisation in emerging economies leading to higher energy consumption, there has been a significant shift towards enhanced oil and gas exploration activities, resulting in increased demand for oil country tubular goods. Additionally, the rising investment in unconventional hydrocarbon resources, such as shale gas and tar sands, further propels the popularity and usage of oil country tubular goods.
The broadening applications of oil country tubular goods across multiple segments of the oil and gas sector also significantly contribute to oil country tubular goods market development. In the drilling and completion of wells, oil country tubular goods are used as structural components and conduits for oil and gas flow. The offshore sector employs oil country tubular goods for its high-strength and corrosion-resistant properties crucial in extreme environmental conditions. Moreover, the need for oil country tubular goods in well intervention activities, such as hydraulic fracturing and well maintenance, underscores its essential role in the oil and gas sector.
Additionally, the growing demand for advanced and efficient drilling technologies has led to increased focus on oil country tubular goods as an indispensable part of the oil and gas sector. With the advent of digitalisation and increasing adoption of smart drilling technologies, oil country tubular goods market has been witnessing a heightened growth in the enhancement of drilling efficiency and minimisation of environmental impact.
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*The publisher always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
Oil country tubular goods refer to a family of steel tubes and related products used in oil and gas explorations and productions. The increasing demand for oil country tubular goods for ensuring efficient, safe, and environmentally sound drilling and completion of oil and gas wells is boosting the oil country tubular goods market growth. They include products like casing, tubing, and drill pipes, each playing a vital role in wellbore formation, protection of groundwater reserves, and transportation of hydrocarbons to the surface.
The increasing global energy demands are accelerating the global oil country tubular goods market expansion. With industrialisation and urbanisation in emerging economies leading to higher energy consumption, there has been a significant shift towards enhanced oil and gas exploration activities, resulting in increased demand for oil country tubular goods. Additionally, the rising investment in unconventional hydrocarbon resources, such as shale gas and tar sands, further propels the popularity and usage of oil country tubular goods.
The broadening applications of oil country tubular goods across multiple segments of the oil and gas sector also significantly contribute to oil country tubular goods market development. In the drilling and completion of wells, oil country tubular goods are used as structural components and conduits for oil and gas flow. The offshore sector employs oil country tubular goods for its high-strength and corrosion-resistant properties crucial in extreme environmental conditions. Moreover, the need for oil country tubular goods in well intervention activities, such as hydraulic fracturing and well maintenance, underscores its essential role in the oil and gas sector.
Additionally, the growing demand for advanced and efficient drilling technologies has led to increased focus on oil country tubular goods as an indispensable part of the oil and gas sector. With the advent of digitalisation and increasing adoption of smart drilling technologies, oil country tubular goods market has been witnessing a heightened growth in the enhancement of drilling efficiency and minimisation of environmental impact.
Market Segmentation
The market can be divided based on product, manufacturing process, grade, application, and region.Market Breakup by Product
- Well Casing
- Product Tubing
- Drill Pipe
- Others
Market Breakup by Manufacturing Process
- Electric Resistance Welded (ERW)
- Seamless
Market Breakup by Grade
- API Grade
- Premium Grade
Market Breakup by Application
- Onshore
- Offshore
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global oil country tubular goods companies. Some of the major key players explored in the report are as follows:- TMK Group
- Sumitomo Corporation
- Nippon Steel Corporation
- Iljin Steel Co., Ltd.
- Tenaris S.A
- U. S. Steel Tubular Products, Inc.
- Vallourec Group
- Oil Country Tubular Limited
- ArcelorMittal S.A.
- JFE Steel Corporation
- Others
About the Publisher
Acquire unparalleled access to critical industry insights with our comprehensive market research reports, meticulously prepared by a team of seasoned experts. These reports are designed to equip decision-makers with an in-depth understanding of prevailing market trends, competitive landscapes, and growth opportunities.Our high-quality, data-driven analyses provide the essential framework for organisations seeking to make informed and strategic decisions in an increasingly complex and rapidly evolving business environment. By investing in our market research reports, you can ensure your organisation remains agile, proactive, and poised for success in today's competitive market.
Don't miss the opportunity to elevate your business intelligence and fortify your strategic planning. Secure your organisation's future success by acquiring one of these reports today.
*The publisher always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.
Table of Contents
1 Preface2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Oil Country Tubular Goods Market Analysis
8.1 Key Industry Highlights
8.2 Global Oil Country Tubular Goods Historical Market (2018-2022)
8.3 Global Oil Country Tubular Goods Market Forecast (2023-2028)
8.4 Global Oil Country Tubular Goods Market by Product
8.4.1 Well Casing
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 Product Tubing
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.4.3 Drill Pipe
8.4.3.1 Historical Trend (2018-2022)
8.4.3.2 Forecast Trend (2023-2028)
8.4.4 Others
8.5 Global Oil Country Tubular Goods Market by Manufacturing Process
8.5.1 Electric Resistance Welded (ERW)
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Seamless
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.6 Global Oil Country Tubular Goods Market by Grade
8.6.1 API Grade
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Premium Grade
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.7 Global Oil Country Tubular Goods Market by Application
8.7.1 Onshore
8.7.1.1 Historical Trend (2018-2022)
8.7.1.2 Forecast Trend (2023-2028)
8.7.2 Offshore
8.7.2.1 Historical Trend (2018-2022)
8.7.2.2 Forecast Trend (2023-2028)
8.8 Global Oil Country Tubular Goods Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2022)
8.8.1.2 Forecast Trend (2023-2028)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2022)
8.8.2.2 Forecast Trend (2023-2028)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2022)
8.8.3.2 Forecast Trend (2023-2028)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2022)
8.8.4.2 Forecast Trend (2023-2028)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2022)
8.8.5.2 Forecast Trend (2023-2028)
9 North America Oil Country Tubular Goods Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Oil Country Tubular Goods Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Oil Country Tubular Goods Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Oil Country Tubular Goods Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Oil Country Tubular Goods Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 TMK Group
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Sumitomo Corporation
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Nippon Steel Corporation
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Iljin Steel Co., Ltd.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Tenaris S.A
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 U. S. Steel Tubular Products, Inc.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Vallourec Group
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Oil Country Tubular Limited
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 ArcelorMittal S.A.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 JFE Steel Corporation
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Other
16 Key Trends and Developments in the Market
Companies Mentioned
- TMK Group
- Sumitomo Corporation
- Nippon Steel Corporation
- Iljin Steel Co., Ltd.
- Tenaris S.A
- U.S. Steel Tubular Products, Inc.
- Vallourec Group
- Oil Country Tubular Limited
- ArcelorMittal S.A.
- JFE Steel Corporation
Methodology
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