Global OCTG (Oil Country Tubular Goods) Market Overview:
The OCTG (Oil Country Tubular Goods) Market is driven by increased drilling and production operations with a healthy CAGR of ~5.95% during the forecast period of 2022 to 2030.
Our Market Overview and Regional Analysis provide an understanding of the industries, companies and products within the market. Our Trends section provides an analysis of how the market is currently performing and looks set to perform in the future. Our Growth Forecast section gives you an idea about how our Market Analysis works, by giving us further details on how we can build our Market Forecast model for a particular domain within this report. Lastly, in our Metrics section we outline important data points relating to each of these sections as well as our current forecasted price range.
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Tubular products for the oil industry are used in onshore and offshore exploration and extraction facilities. Between the casings and the wellbore, cement or other materials are typically used to hold the good casing in place.
Regional Analysis
North America, led by the U.S., comes behind the Asia-Pacific area. This expansion is ascribed to many causes, including the expansion of offshore drilling in the Gulf of Mexico, the shale boom, and the spike in the discovery of prospective undiscovered oil and gas reserves. Over the next eight years, it's anticipated that growth in the EMEA market would remain flat.
Market Segmentation
The Global OCTG (Oil Country Tubular Goods) market has been segmented into Type, Make, and Grade
Based on the Type, the market has been segmented into Tubing, Casing, and Drill Pipe.
Based on the Make, the market has been segmented into Seamless and Welded.
Based on the Grade, the market has been segmented into Premium and API.
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Key Players
Some of the key market players are Nippon Steel & Sumitomo Metal Co, Vallourec, Tenaris, National Oilwell Varco, TMK, Steel Tubular Products Inc, ILJIN STEEL CO, Continental Alloys and Anhui Tianda Oil Pipe Company.
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