Oil Country Tubular Goods (OCTG) Market, By Process (Seamless and Welded), Grade (Premium Grade and API Grade), Application (Onshore and Offshore) and by Region (NA, EU, APAC, LA, MEA) Analysis, Size, Share, Trends, & Forecast from 2021-2027
REPORT HIGHLIGHT
The Oil Country Tubular Goods (OCTG) market was valued at USD 59,600.3 million in 2020 and is predicted to reach a value of USD 68,114.0 million by 2027, growing with 7.7% CAGR during the forecast period, 2021-2027.
The components used in the extraction of oil and gas from a well are referred to as OCTG (Oil Country Tubular Goods). The proper application of OTCG can aid in lowering the likelihood of any mishap, danger, or risk, lowering the company's manufacturing costs. Examples include casing, drill pipe, and tubing. The oil and gas industry necessitates a large sum of money. Maintaining the balance in crude oil and gas output is necessary to avoid any loss of money, machinery, or resources. This drives the global OCTG market value. The global OCTG market is extremely lucrative. Reservoir contracts are being improved in order to remain competitive, and technological advancements and creative tools may be able to assist the industry as it evolves. It is being driven by increased oil and gas production, exponential growth in shale gas reserves, and enhanced operator financing in the upstream sector.
Market Dynamics
The global oil country tubular products market is expected to expand rapidly over the forecast period due to increased drilling and production operations. Rising demand for high-end pipes, as well as the introduction of technologically advanced pipes Appropriate OCTG choice during oil drilling, saves a lot of money and lowers the risk of risk generation. Efficiency gains and advancements in well-drilling technologies to boost the recoverability of petroleum resources are also crucial to OCTG's market growth.
Grade Takeaway
The premium-grade OCTG market is expanding as a result of increased demand from oil and gas operations. Premium grade applications are common in gas wells, lateral wells, and high pressure/temperature wells. Furthermore, with the increase in offshore rig count due to the oil price slump, demand for oil country tubular goods is expected to rise during the forecasted period.
Regional Takeaway
Over the last decade, the United States' shale drilling areas have augmented the use of directional and horizontal drilling activities, contributing hundreds of meters in the horizontal run to what were previously straight drill strings. Horizontal lines of 5,000 feet or more in size have led to a significant increase in the amount of tubular product used per well.
COVID-19 Impact
National and international transport has been hampered as a result of the lockdown implemented in various countries, which has significantly impacted the supply chain of numerous industries around the world, thereby increasing the supply-demand gap. As a result, a lack of raw material supply is expected to slow the production rate of tubular goods, negatively impacting the market growth. However, the situation is expected to improve as governments around the world begin to relax regulations for resuming business operations.
Key Vendor Takeaway
Some of the major players in this industry include Tenaris S.A.; Vallourec S.A.; National oil well Varco, Inc.; Tenergy Equipment and Services Ltd.; Nippon Steel & Sumitomo Metal Corp., Arcelor Mittal S.A.; United States Steel Corporation; TMK group, and Sumitomo Metal Corporation.
The market size and forecast for each segment and sub-segments has been considered as below:
- Historical Year – 2016 to 2019
- Base Year – 2020
- Projected Year – 2021 to 2027
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL OIL COUNTRY TUBULAR GOODS (OCTG) MARKET KEY PLAYERS
- Anhui Tianda Oil Pipe Company
- Arcelor Mittal S.A.
- Continental Alloys
- ILJIN STEEL CO
- National Oil Well Varco, Inc.
- Nippon Steel & Sumitomo Metal Corp.
- Steel Tubular Products Inc
- Sumitomo Metal Corporation.
- Tenaris S.A.
- Tenergy Equipment and Services Ltd.
- TMK group
- United States Steel Corporation
- Vallourec S.A.
GLOBAL OIL COUNTRY TUBULAR GOODS (OCTG) MARKET, BY PROCESS
- Seamless
- Welded
GLOBAL OIL COUNTRY TUBULAR GOODS (OCTG) MARKET, BY GRADE
- Premium Grade
- API Grade
GLOBAL OIL COUNTRY TUBULAR GOODS (OCTG) MARKET, BY APPLICATION
- Onshore
- Offshore
GLOBAL OIL COUNTRY TUBULAR GOODS (OCTG) MARKET, BY REGION
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Rest of MEA
TABLE OF CONTENT
1. OIL COUNTRY TUBULAR GOODS (OCTG) MARKET OVERVIEW
1.1. Study Scope
2. EXECUTIVE SUMMARY
2.1. Market Snippet
2.1.1. Market Snippet by Process
2.1.2. Market Snippet by Grade
2.1.3. Market Snippet by Application
2.1.4. Market Snippet by Region
2.2. Competitive Insights
3. OIL COUNTRY TUBULAR GOODS (OCTG) KEY MARKET TRENDS
3.1. Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Market Opportunities
3.4. Market Future Trends
4. OIL COUNTRY TUBULAR GOODS (OCTG) INDUSTRY STUDY
4.1. Porter’s Five Forces Analysis
4.2. Marketing Strategy Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
5. OIL COUNTRY TUBULAR GOODS (OCTG) MARKET: COVID-19 IMPACT ANALYSIS
5.1. Pre-COVID-19 Impact Analysis
5.2. Post-COVID-19 Impact Analysis
5.2.1. Top Performing Segments
5.2.2. Marginal Growth Segments
5.2.3. Top Looser Segments
5.2.4. Marginal Loss Segments
6. OIL COUNTRY TUBULAR GOODS (OCTG) MARKET LANDSCAPE
6.1. Market Share Analysis, 2019
6.2. Key Innovators Analysis
6.3. Breakdown Data, by Key Manufacturer
6.3.1. Established Players’ Analysis
6.3.2. Emerging Players’ Analysis
7. OIL COUNTRY TUBULAR GOODS (OCTG) MARKET – BY PROCESS
7.1. Overview
7.1.1. Segment Share Analysis, By Process, 2020 & 2027 (%)
7.2. Seamless
7.2.1. Overview
7.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
7.3. Welded
7.3.1. Overview
7.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
8. OIL COUNTRY TUBULAR GOODS (OCTG) MARKET – BY GRADE
8.1. Overview
8.1.1. Segment Share Analysis, By Technology, 2020 & 2027 (%)
8.2. Premium Grade
8.2.1. Overview
8.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
8.3. API Grade
8.3.1. Overview
8.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9. OIL COUNTRY TUBULAR GOODS (OCTG) MARKET – BY APPLICATION
9.1. Overview
9.1.1. Segment Share Analysis, By Application, 2020 & 2027 (%)
9.2. Onshore
9.2.1. Overview
9.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
9.3. Offshore
9.3.1. Overview
9.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
10. OIL COUNTRY TUBULAR GOODS (OCTG) MARKET– BY GEOGRAPHY
10.1. Introduction
10.1.1. Segment Share Analysis, By Geography, 2020 & 2027 (%)
10.2. North America
10.2.1. Overview
10.2.2. Key Manufacturers in North America
10.2.3. North America Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
10.2.4. North America Market Size and Forecast, By Process, 2016 - 2027 (US$ Billion)
10.2.5. North America Market Size and Forecast, By Grade, 2016 - 2027 (US Billion)
10.2.6. North America Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
10.2.7. U.S.
10.2.7.1. Overview
10.2.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
10.2.7.3. U.S. Market Size and Forecast, By Process, 2016 - 2027 (US$ Billion)
10.2.7.4. U.S. Market Size and Forecast, By Grade, 2016 - 2027 (US Billion)
10.2.7.5. U.S. Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
10.2.8. Canada
10.2.8.1. Overview
10.2.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
10.2.8.3. Canada Market Size and Forecast, By Process, 2016 - 2027 (US$ Billion)
10.2.8.4. Canada Market Size and Forecast, By Grade, 2016 - 2027 (US Billion)
10.2.8.5. Canada Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
10.3. Europe
10.3.1. Overview
10.3.2. Key Manufacturers in Europe
10.3.3. Europe Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
10.3.4. Europe Market Size and Forecast, By Process, 2016 - 2027 (US$ Billion)
10.3.5. Europe Market Size and Forecast, By Grade, 2016 - 2027 (US Billion)
10.3.6. Europe Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
10.3.7. Germany
10.3.7.1. Overview
10.3.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
10.3.7.3. Germany Market Size and Forecast, By Process, 2016 - 2027 (US$ Billion)
10.3.7.4. Germany Market Size and Forecast, By Grade, 2016 - 2027 (US Billion)
10.3.7.5. Germany Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
10.3.8. Italy
10.3.8.1. Overview
10.3.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
10.3.8.3. Italy Market Size and Forecast, By Process, 2016 - 2027 (US$ Billion)
10.3.8.4. Italy Market Size and Forecast, By Grade, 2016 - 2027 (US Billion)
10.3.8.5. Italy Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
10.3.9. United Kingdom
10.3.9.1. Overview
10.3.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
10.3.9.3. United Kingdom Market Size and Forecast, By Process, 2016 - 2027 (US$ Billion)
10.3.9.4. United Kingdom Market Size and Forecast, By Grade, 2016 - 2027 (US Billion)
10.3.9.5. United Kingdom Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
10.3.10. France
10.3.10.1. Overview
10.3.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
10.3.10.3. France Market Size and Forecast, By Process, 2016 - 2027 (US$ Billion)
10.3.10.4. France Market Size and Forecast, By Grade, 2016 - 2027 (US Billion)
10.3.10.5. France Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
10.3.11. Rest of Europe
10.3.11.1. Overview
10.3.11.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
10.3.11.3. Rest of Europe Market Size and Forecast, By Process, 2016 - 2027 (US$ Billion)
10.3.11.4. Rest of Europe Market Size and Forecast, By Grade, 2016 - 2027 (US Billion)
10.3.11.5. Rest of Europe Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
10.4. Asia Pacific
10.4.1. Overview
10.4.2. Key Manufacturers in Asia Pacific
10.4.3. Asia Pacific Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
10.4.4. Asia Pacific Market Size and Forecast, By Process, 2016 - 2027 (US$ Billion)
10.4.5. Asia Pacific Market Size and Forecast, By Grade, 2016 - 2027 (US Billion)
10.4.6. Asia Pacific Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
10.4.7. India
10.4.7.1. Overview
10.4.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
10.4.7.3. India Market Size and Forecast, By Process, 2016 - 2027 (US$ Billion)
10.4.7.4. India Market Size and Forecast, By Grade, 2016 - 2027 (US Billion)
10.4.7.5. India Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
10.4.8. China
10.4.8.1. Overview
10.4.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
10.4.8.3. China Market Size and Forecast, By Process, 2016 - 2027 (US$ Billion)
10.4.8.4. China Market Size and Forecast, By Grade, 2016 - 2027 (US Billion)
10.4.8.5. China Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
10.4.9. Japan
10.4.9.1. Overview
10.4.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
10.4.9.3. Japan Market Size and Forecast, By Process, 2016 - 2027 (US$ Billion)
10.4.9.4. Japan Market Size and Forecast, By Grade, 2016 - 2027 (US Billion)
10.4.9.5. Japan Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
10.4.10. Rest of APAC
10.4.10.1. Overview
10.4.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
10.4.10.3. Rest of APAC Market Size and Forecast, By Process, 2016 - 2027 (US$ Billion)
10.4.10.4. Rest of APAC Market Size and Forecast, By Grade, 2016 - 2027 (US Billion)
10.4.10.5. Rest of APAC Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
10.5. Latin America
10.5.1. Overview
10.5.2. Key Manufacturers in Latin America
10.5.3. Latin America Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
10.5.4. Latin America Market Size and Forecast, By Process, 2016 - 2027 (US$ Billion)
10.5.5. Latin America Market Size and Forecast, By Grade, 2016 - 2027 (US Billion)
10.5.6. Latin America Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
10.5.7. Brazil
10.5.7.1. Overview
10.5.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
10.5.7.3. Brazil Market Size and Forecast, By Process, 2016 - 2027 (US$ Billion)
10.5.7.4. Brazil Market Size and Forecast, By Grade, 2016 - 2027 (US Billion)
10.5.7.5. Brazil Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
10.5.8. Mexico
10.5.8.1. Overview
10.5.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
10.5.8.3. Mexico Market Size and Forecast, By Process, 2016 - 2027 (US$ Billion)
10.5.8.4. Mexico Market Size and Forecast, By Grade, 2016 - 2027 (US Billion)
10.5.8.5. Mexico Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
10.5.9. Argentina
10.5.9.1. Overview
10.5.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
10.5.9.3. Argentina Market Size and Forecast, By Process, 2016 - 2027 (US$ Billion)
10.5.9.4. Argentina Market Size and Forecast, By Grade, 2016 - 2027 (US Billion)
10.5.9.5. Argentina Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
10.5.10. Rest of Europe
10.5.10.1. Overview
10.5.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
10.5.10.3. Rest of LATAM Market Size and Forecast, By Process, 2016 - 2027 (US$ Billion)
10.5.10.4. Rest of LATAM Market Size and Forecast, By Grade, 2016 - 2027 (US Billion)
10.5.10.5. Rest of LATAM Market Size and Forecast, By Application, 2016 - 2027 (US Billion)
10.6. Middle East and Africa
10.6.1. Overview
10.6.2. Key Manufacturers in Middle East and Africa
10.6.3. Middle East and Africa Market Size and Forecast, By Country, 2016 - 2027 (US$ Billion)
10.6.4. Middle East and Africa Market Size and Forecast, By Process, 2016 - 2027 (US$ Billion)
10.6.5. Middle East and Africa Market Size and Forecast, By Grade, 2016 - 2027 (US$ Billion)
10.6.6. Middle East and Africa Market Size and Forecast, By Application, 2016 - 2027 (US$ Billion)
10.6.7. Saudi Arabia
10.6.7.1. Overview
10.6.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
10.6.7.3. Saudi Arabia Market Size and Forecast, By Process, 2016 - 2027 (US$ Billion)
10.6.7.4. Saudi Arabia Market Size and Forecast, By Grade, 2016 - 2027 (US$ Billion)
10.6.7.5. Saudi Arabia Market Size and Forecast, By Application, 2016 - 2027 (US$ Billion)
10.6.8. United Arab Emirates
10.6.8.1. Overview
10.6.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
10.6.8.3. United Arab Emirates Market Size and Forecast, By Process, 2016 - 2027 (US$ Billion)
10.6.8.4. United Arab Emirates Market Size and Forecast, By Grade, 2016 - 2027 (US$ Billion)
10.6.8.5. United Arab Emirates Market Size and Forecast, By Application, 2016 - 2027 (US$ Billion)
10.6.9. Rest of MEA
10.6.9.1. Overview
10.6.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Billion)
10.6.9.3. Rest of MEA Market Size and Forecast, By Process, 2016 - 2027 (US$ Billion)
10.6.9.4. Rest of MEA Market Size and Forecast, By Grade, 2016 - 2027 (US$ Billion)
10.6.9.5. Rest of MEA Market Size and Forecast, By Application, 2016 - 2027 (US$ Billion)
11. KEY VENDOR ANALYSIS
11.1. Competitive Dashboard
11.2. Company Profiles
11.2.1. Anhui Tianda Oil Pipe Company
11.2.1.1. Company Snapshot
11.2.1.2. Financial Performance
11.2.1.3. Product Benchmarking
11.2.1.4. Strategic Initiatives
11.2.2. Arcelor Mittal S.A.
11.2.3. Continental Alloys
11.2.4. ILJIN STEEL CO
11.2.5. National oil well Varco, Inc.
11.2.6. Nippon Steel & Sumitomo Metal Corp.
11.2.7. Steel Tubular Products Inc
11.2.8. Sumitomo Metal Corporation.
11.2.9. Tenaris S.A.
11.2.10. Tenergy Equipment and Services Ltd.
11.2.11. TMK group
11.2.12. United States Steel Corporation
11.2.13. Vallourec S.A.
12. 360 DEGREE ANALYST VIEW
13. APPENDIX
13.1. Research Methodology
13.2. References
13.3. Abbreviations
13.4. Disclaimer
13.5. Contact Us
