
Oil Country Tubular Goods Market
Oil Country Tubular Goods Market Global Industry Assessment & Forecast
Segments Covered
By Manufacturing Process Seamless, Electric Resistance Welded
By Grade Premium Grade, API Grade
Snapshot
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2021 - 2028 |
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2016 - 2020 |
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22 Billion |
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37.8 Billion |
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7 |
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North America |
Customization Offered
Cross-segment Market Size and Analysis for Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market Dynamics
Region Level Market Share
Import Export Analysis
Production Analysis
Others Request Customization Speak To Analyst
Key Insights
The global Oil Country Tubular Goods market was valued at USD
22 Billion in 2020 and is projected to reach USD 37.8 Billion by
2028, growing at a CAGR of 7% from 2021 to 2028.

Years | Parameters |
---|---|
Historical Data (Actual Data) | 2016-2020 |
Base Year Data | 2020 |
Current Year Date | 2021 |
Projected year data | 2021-2026 |
Annual Market Size (2028) | 37.8 Billion |
Annual Market Size (2021) | |
CAGR (2021 - 2028) | 7% |
Definition And Overview
The term Oil Country Tubular Goods describes tubes that are used in oil and gas production. As a rule these include drill pipe, casing and tubing. Oil Country Tubular Goods are used both onshore and offshore.
This report provides an exhaustive analysis on all aspects of Oil Country Tubular Goods industry including the market size for historic period of 2016–2019 and forecasts for 2021–2028 while 2020 is considered as a base year for estimations. The report covers dedicated chapters for each main segment while dedicated sections for each region cover thorough information on the drivers, restraints, opportunities and other such factors impacting global Oil Country Tubular Goods market. Moreover, the report also covers in depth analysis on various marketing tools such as Porter’s Five Forces Analysis, Pricing Analysis, SWOT Analysis, PESTLE Analysis, and Player Positioning Analysis, among others. These tools are expected to aid the industry stakeholders in their decision making.
COVID-19 Impact Analysis
When the Covid19 pandemic started in China last
year it sends its shock waves to countries across the globe. And as the number
of cases was on the rise, it enforced the governments across the world to take
severe actions like border seals, lockdown, and implementing strict social
distancing measures, in order to stop the impending catastrophe. These actions
had a dramatic impact on the economy, as the industrialist across the globe
were forced to halt their production, leading to supply chain disruptions and
impairing of various industries. Thus, plummeting the global markets. However,
it is expected that reopening of trade activities, the market will witness
steady growth in demand in the coming years. The impact of COVID-19 on the
market demand is considered while estimating the current and forecast market
size and growth trends for all the regions and countries. The report provides a completely separate
chapter for COVID-19 Impact Analysis. This chapter includes: o
Impact Assessment of COVID-19
Pandemic o
Pre & Post COVID-19 Market
Size o
Qualitative analysis on the
short term & long-term impact of COVID-19 on the market
o The
analysis provides foremost strategies adopted by competitors to minimize the
impact of the pandemic on their business activities and scope for future
developments.
Industry Analysis
The
report covers exhaustive analysis on the global Oil Country Tubular Goods industry, which
includes market trends, drivers, restraints, opportunities, segmental analysis,
regional trends, and competitive landscape among others. The report provides a
detailed study on various product types and their applications in different
industry verticals at the global/regional/country level. This study comprises
the market size in terms of revenue for each segment at the
global/regional/country level along with a detailed analysis of growth
prospects, challenges, and opportunities.
The demand for oil country tubular goods market is boosted by high exploration as well as production activities happening, growth in proven shale reserves, with escalating investments from oil and gas operators. The trend is expecte to continue with the current growth in offshore activities and shale reserve exploratory activities. Development has now become a prime concern in countries all over the world and for development the requirment of energy is must. With the increase in demand for energy the market is leading to the increase the prices of oil and gas , which is through positive impact on an increase in exploration and development activities all over and generating growth and demand for OCTG. The high initial costs of materials and low awareness in the consumers is expected to hamper the growth of the market in the years to come.
Global Oil Country Tubular Goods Market Report Scope
Parameter | Details |
---|---|
Market Size Provided for Years | 2016-2028 |
Base Year | 2020 |
Historic Years | 2016-2020 |
Forecast Years | 2021-2028 |
Market Size Provided In Terms Of | Revenue & Volume |
Segments Covered | Manufacturing Process, Grade |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Countries Covered | The U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, South East Asia, Brazil, Argentina, GCC Countries, and South Africa, among others |
Companies Covered | ILJIN Steel Co. Ltd., Sumitomo Corporation, JFE Steel Corporation, Tenergy Equipment & Service Ltd., National Oilwell Varco, SB International Inc., United States Steel Corporation, ArcelorMittal, Schlumberger, Tenaris, Weatherford, EVRAZ North America, TMK, Vallourec. |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis |
Market Segmentation
The report delivers an acute breakdown of the
market based on various segments such as Manufacturing Process, Grade,
and Region. All the segments are studied considering historical and future
trends across geographies. All the segments are analyzed based on trends,
market size, and forecast, and the data is provided for the years 2016–2028.
Several growth factors and opportunities impacting various segments have been
incorporated in the report. On the basis of Manufacturing Process,
the market is divided into Seamless, Electric Resistance Welded. Seamless held the largest
share in 2020 and is projected to grow at a noteworthy CAGR within the forecast
period.
Based on Grade,
the market is divided into Premium Grade, API Grade. Premium Grade attributed to
the highest market share and is expected to grow at a significant CAGR from
2021 to 2028.
Global Oil Country Tubular Goods Market: Manufacturing Process Segment Analysis
-
- Seamless
- Electric Resistance Welded
Global Oil Country Tubular Goods Market: Grade Segment Analysis
-
- Premium Grade
- API Grade
Regional Analysis Preview
Based on the geography, the global Oil Country Tubular Goods market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. The report further segments the regional study into key country-level markets from each region. The report includes a separate section covering detailed Oil Country Tubular Goods regional analysis based on various macro/micro factors impacting the growth of the market. The concentration of raw material suppliers as well as market players in one specific region impacts the global market scenario and the report covers exclusive information on the same. Also, the report analyzes the intensity of competition in each region and its influence on the growth of the global Oil Country Tubular Goods market.
Market Size, 2021 (USD Billion)
Global Oil Country Tubular Goods Market: Regional Analysis
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- France
- Germany
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
Competitive Landscape
The global Oil Country Tubular Goods market report provides an exhaustive competitive landscape to give a comprehensive synopsis of the global market. Major players in the Oil Country Tubular Goods market are ILJIN Steel Co. Ltd., Sumitomo Corporation, JFE Steel Corporation, Tenergy Equipment & Service Ltd., National Oilwell Varco, SB International Inc., United States Steel Corporation, ArcelorMittal, Schlumberger, Tenaris, Weatherford, EVRAZ North America, TMK, Vallourec.. This section of the report will provide you extensive information on all key players based on business overview, product portfolio, marketing strategies, recent developments, financial performance, and geographical presence among others. Moreover, the report will also include extensive analysis on key strategies adopted by market players such as new product development/launch, merger & acquisitions, partnerships, collaborations & joint ventures, research & development, and regional expansion.
FAQ
Frequently Asked Question
What is the global demand for Oil Country Tubular Goods in terms of revenue?
-
The global Oil Country Tubular Goods valued at 22 Billion in 2020 and is expected to reach 37.8 Billion in 2028 growing at a CAGR of 7%.
Which are the prominent players in the market?
-
The prominent players in the market are ILJIN Steel Co. Ltd., Sumitomo Corporation, JFE Steel Corporation, Tenergy Equipment & Service Ltd., National Oilwell Varco, SB International Inc., United States Steel Corporation, ArcelorMittal, Schlumberger, Tenaris, Weatherford, EVRAZ North America, TMK, Vallourec..
At what CAGR is the market projected to grow within the forecast period?
-
The market is project to grow at a CAGR of 7% between 2021 and 2028.
What are the driving factors fueling the growth of the market?
-
The driving factors of the Oil Country Tubular Goods include
- The demand for oil country tubular goods market is boosted by high exploration as well as production activities happening, growth in proven shale reserves, with escalating investments from oil and gas operators. The trend is expecte to continue with the current growth in offshore activities and shale reserve exploratory activities.
- Development has now become a prime concern in countries all over the world and for development the requirment of energy is must. With the increase in demand for energy the market is leading to the increase the prices of oil and gas , which is through positive impact on an increase in exploration and development activities all over and generating growth and demand for OCTG.
Which region accounted for the largest share in the market?
-
North America was the leading regional segment of the Oil Country Tubular Goods in 2020.