Energy & Power
Global Oil Country Tubular Goods (OCTG) Market - Industry Trends and Forecast to 2032
REPORT OVERVIEW
Global Oil Country Tubular Goods (OCTG) Market, By Product (Production Tubing, Well Casing, Drill Pipe, and Others), Application (Onshore and Offshore), Dimension (Below 140 mm, 140 mm to 200mm, and Above 200 mm), Material (Carbon Steel, Alloy Steel, and Stainless Steel), Process (Seamless and Electric Resistance Welding), Grade (Premium Grade and API Grade), Region (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2032.
Market Insights
The global Oil Country Tubular Goods (OCTG) market size is valued to be USD xx million in 2023 and is expected to reach USD xx million by 2032, and it is expected to register a CAGR of xx% over the forecast period 2024-2032.
The Oil Country Tubular Goods (OCTG) market is a segment of the oil and gas industry that manufactures and distributes tubular steel products used in drilling, completion, and production activities in oil and natural gas wells. These tubular commodities include casing, tubing, and drill pipes, which are critical components for extracting hydrocarbons from oil and gas reservoirs. The OCTG market includes all stages of the supply chain, from manufacture to distribution and service of these tubular goods, which serve both onshore and offshore drilling operations worldwide. OCTG market dynamics are impacted by factors such as oil and gas pricing, drilling activity, technological improvements, regulatory policies, and geopolitical issues affecting the energy industry.
The respective global report analyses market trends, consumer behaviour and industry dynamics to guide towards entry into new markets with ease. Also, it assists in tailoring market specific and related products and services to meet the needs, preferences, and expectations of target audience by delving into their psychology. The report also specializes with comprehensive and extensive competitive analysis which offers useful insights into competitor strengths, weaknesses, opportunities, and threats. The respective report offers exclusive insights into the potential impact of disruptive developments and technologies that are expected to completely transform corporate operations. The context includes tailor-made research solutions to create a stronger footprint in their particular industries thereby offering dedicated customized solutions according to the client needs which helps in addressing unique business challenges with more simplified and efficient decision-making solutions.
Market Dynamics
DRIVERS
- Oil and gas demand
- Oil and gas exploration and production activities
RESTRAINTS
- Volatility in oil and gas prices
- Geopolitical risks
OPPORTUNITIES
- Technological advancements
- Global energy demand
CHALLENGES
- Infrastructure constraints
- Energy transition and diversification
SEGMENTATION
- Product
- Production Tubing
- Well Casing
- Drill Pipe
- Others
- Application
- Onshore
- Offshore
- Dimension
- Below 140 mm
- 140 mm to 200mm
- Above 200 mm
- Material
- Carbon Steel
- Alloy Steel
- Stainless Steel
- Process
- Seamless
- Electric Resistance Welding
- Grade
- Premium Grade
- API Grade
The respective global report is completely customizable specific to regions (North America, Europe, Asia-Pacific, South America, Middle East and Africa), countries, and segments as per the client requirements.
REGIONAL SEGMENTATION
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- The Netherlands
- Belgium
- Turkey
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Singapore
- Malaysia
- Australia
- Thailand
- Philippines
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Chile
- Colombia
- Rest of South America
- Middle East and Africa
- Kingdom of Saudi Arabia
- South Africa
- U.A.E.
- Egypt
- Rest of Middle East and Africa
KEY MARKET PLAYERS
- Tenaris
- TMK
- Vallourec
- United States Steel Corporation
- National Oilwell Varco
- Sumitomo Corporation
- JFE Steel Corporation
- Weatherford
- Schlumberger
- ArcelorMittal
Table OF CONTENTS
- SECTION 1 - INTRODUCTION
- 1.1 Taxonomy
- 1.2 Market Overview
- 1.3 Currency and Limitations
- 1.3.1 Currency
- 1.3.2 Limitations
- 1.4 Key Competitors
- SECTION 2 - RESEARCH METHODOLOGY
- 2.1 Research Approach
- 2.2 Data Collection and Validation
- 2.2.1 Secondary Research
- 2.2.2 Primary Research
- 2.3 Market Assessment
- 2.3.1 Market Size Estimation
- 2.3.2 Bottom-up Approach
- 2.3.3 Top-down Approach
- 2.3.4 Growth Forecast
- 2.4 Market Study Assumptions
- 2.5 Data Sources
- SECTION 3 - EXECUTIVE SUMMARY
- 3.1 Global Oil Country Tubular Goods (OCTG) Market, by Product
- 3.2 Global Oil Country Tubular Goods (OCTG) Market, by Application
- 3.3 Global Oil Country Tubular Goods (OCTG) Market, by Dimension
- 3.4 Global Oil Country Tubular Goods (OCTG) Market, by Material
- 3.5 Global Oil Country Tubular Goods (OCTG) Market, by Process
- 3.6 Global Oil Country Tubular Goods (OCTG) Market, by Grade
- 3.7 Global Oil Country Tubular Goods (OCTG) Market, by Geography
- 3.8 Market Position Grid
- SECTION 4 - PREMIUM INSIGHTS
- 4.1 Regulatory Framework
- 4.1.1 Standards
- 4.1.2 Regulatory Landscape
- 4.2 Value Chain Analysis
- 4.3 Supply Chain Analysis
- 4.4 COVID-19 Impact
- 4.5 Russia-Ukraine War Impact
- 4.6 PORTER's Five Force Analysis
- 4.7 PESTLE Analysis
- 4.8 SWOT Analysis
- 4.9 Go to Market Strategy
- 4.10 Opportunity Orbit
- 4.11 Multivariate Modelling
- 4.12 Pricing Analysis
- SECTION 5 - MARKET DYNAMICS
- 5.1 Trends
- 5.1.1 Infrastructure development
- 5.1.2 Digitalization and data analytics
- 5.1.3 Trend 3
- 5.2 Drivers
- 5.2.1 Oil and gas demand
- 5.2.2 Oil and gas exploration and production activities
- 5.2.3 Driver 3
- 5.2.4 Driver 4
- 5.3 Restraints
- 5.3.1 Volatility in oil and gas prices
- 5.3.2 Geopolitical risks
- 5.3.3 Restraint 3
- 5.4 Opportunities
- 5.4.1 Technological advancements
- 5.4.2 Global energy demand
- 5.4.3 Opportunity 3
- 5.4.4 Opportunity 4
- 5.5 Challenges
- 5.5.1 Infrastructure constraints
- 5.5.2 Energy transition and diversification
- 5.5.3 Challenge 3
- SECTION 6 - GLOBAL OIL COUNTRY TUBULAR GOODS (OCTG) MARKET, BY PRODUCT
- 6.1 Product Summary
- 6.2 Market Attractive Index
- 6.3 Global Oil Country Tubular Goods (OCTG) Market, by Product (2019-2032)
- SECTION 7 - GLOBAL OIL COUNTRY TUBULAR GOODS (OCTG) MARKET, BY APPLICATION
- 7.1 Application Summary
- 7.2 Market Attractive Index
- 7.3 Global Oil Country Tubular Goods (OCTG) Market, by Application (2019-2032)
- SECTION 8 - GLOBAL OIL COUNTRY TUBULAR GOODS (OCTG) MARKET, BY DIMENSION
- 8.1 Dimension Summary
- 8.2 Market Attractive Index
- 8.3 Global Oil Country Tubular Goods (OCTG) Market, by Dimension (2019-2032)
- SECTION 9 - GLOBAL OIL COUNTRY TUBULAR GOODS (OCTG) MARKET, BY MATERIAL
- 9.1 Material Summary
- 9.2 Market Attractive Index
- 9.3 Global Oil Country Tubular Goods (OCTG) Market, by Material (2019-2032)
- SECTION 10 - GLOBAL OIL COUNTRY TUBULAR GOODS (OCTG) MARKET, BY PROCESS
- 10.1 Process Summary
- 10.2 Market Attractive Index
- 10.3 Global Oil Country Tubular Goods (OCTG) Market, by Process (2019-2032)
- SECTION 11 - GLOBAL OIL COUNTRY TUBULAR GOODS (OCTG) MARKET, BY GRADE
- 11.1 Grade Summary
- 11.2 Market Attractive Index
- 11.3 Global Oil Country Tubular Goods (OCTG) Market, by Grade (2019-2032)
- SECTION 12 - GLOBAL OIL COUNTRY TUBULAR GOODS (OCTG) MARKET, BY GEOGRAPHY
- 12.1 Regional Summary
- 12.2 Market Attractive Index
- 12.3 Global Oil Country Tubular Goods (OCTG) Market, by Geography (2019-2032)
- SECTION 13 - NORTH AMERICA OIL COUNTRY TUBULAR GOODS (OCTG) MARKET
- 13.1 North America Summary
- 13.2 Market Attractive Index
- 13.3 North America Oil Country Tubular Goods (OCTG) Market, by Product (2019-2032)
- 13.4 North America Oil Country Tubular Goods (OCTG) Market, by Application (2019-2032)
- 13.5 North America Oil Country Tubular Goods (OCTG) Market, by Dimension (2019-2032)
- 13.6 North America Oil Country Tubular Goods (OCTG) Market, by Material (2019-2032)
- 13.7 North America Oil Country Tubular Goods (OCTG) Market, by Process (2019-2032)
- 13.8 North America Oil Country Tubular Goods (OCTG) Market, by Grade (2019-2032)
- 13.9 North America Oil Country Tubular Goods (OCTG) Market, by Country (2019-2032)
- 13.9.1 U.S.
- 13.9.2 Canada
- 13.9.3 Mexico
- 13.9.4 Rest of North America
- SECTION 14 - EUROPE OIL COUNTRY TUBULAR GOODS (OCTG) MARKET
- 14.1 Europe Summary
- 14.2 Market Attractive Index
- 14.3 Europe Oil Country Tubular Goods (OCTG) Market, by Product (2019-2032)
- 14.4 Europe Oil Country Tubular Goods (OCTG) Market, by Application (2019-2032)
- 14.5 Europe Oil Country Tubular Goods (OCTG) Market, by Dimension (2019-2032)
- 14.6 Europe Oil Country Tubular Goods (OCTG) Market, by Material (2019-2032)
- 14.7 Europe Oil Country Tubular Goods (OCTG) Market, by Process (2019-2032)
- 14.8 Europe Oil Country Tubular Goods (OCTG) Market, by Grade (2019-2032)
- 14.9 Europe Oil Country Tubular Goods (OCTG) Market, by Country (2019-2032)
- 14.9.1 Germany
- 14.9.2 U.K.
- 14.9.3 France
- 14.9.4 Italy
- 14.9.5 Spain
- 14.9.6 Russia
- 14.9.7 The Netherlands
- 14.9.8 Belgium
- 14.9.9 Turkey
- 14.9.10 Rest of Europe
- SECTION 15 - ASIA-PACIFIC OIL COUNTRY TUBULAR GOODS (OCTG) MARKET
- 15.1 Asia-Pacific Summary
- 15.2 Market Attractive Index
- 15.3 Asia-Pacific Oil Country Tubular Goods (OCTG) Market, by Product (2019-2032)
- 15.4 Asia-Pacific Oil Country Tubular Goods (OCTG) Market, by Application (2019-2032)
- 15.5 Asia-Pacific Oil Country Tubular Goods (OCTG) Market, by Dimension (2019-2032)
- 15.6 Asia-Pacific Oil Country Tubular Goods (OCTG) Market, by Material (2019-2032)
- 15.7 Asia-Pacific Oil Country Tubular Goods (OCTG) Market, by Process (2019-2032)
- 15.8 Asia-Pacific Oil Country Tubular Goods (OCTG) Market, by Grade (2019-2032)
- 15.9 Asia-Pacific Oil Country Tubular Goods (OCTG) Market, by Country (2019-2032)
- 15.9.1 China
- 15.9.2 India
- 15.9.3 Japan
- 15.9.4 South Korea
- 15.9.5 Singapore
- 15.9.6 Malaysia
- 15.9.7 Australia
- 15.9.8 Thailand
- 15.9.9 Philippines
- 15.9.10 Rest of Asia-Pacific
- SECTION 16 - SOUTH AMERICA OIL COUNTRY TUBULAR GOODS (OCTG) MARKET
- 16.1 South America Summary
- 16.2 Market Attractive Index
- 16.3 South America Oil Country Tubular Goods (OCTG) Market, by Product (2019-2032)
- 16.4 South America Oil Country Tubular Goods (OCTG) Market, by Application (2019-2032)
- 16.5 South America Oil Country Tubular Goods (OCTG) Market, by Dimension (2019-2032)
- 16.6 South America Oil Country Tubular Goods (OCTG) Market, by Material (2019-2032)
- 16.7 South America Oil Country Tubular Goods (OCTG) Market, by Process (2019-2032)
- 16.8 South America Oil Country Tubular Goods (OCTG) Market, by Grade (2019-2032)
- 16.9 South America Oil Country Tubular Goods (OCTG) Market, by Country (2019-2032)
- 16.9.1 Brazil
- 16.9.2 Argentina
- 16.9.3 Chile
- 16.9.4 Colombia
- 16.9.5 Rest of South America
- SECTION 17 - MIDDLE EAST AND AFRICA OIL COUNTRY TUBULAR GOODS (OCTG) MARKET
- 17.1 Middle East and Africa Summary
- 17.2 Market Attractive Index
- 17.3 Middle East and Africa Oil Country Tubular Goods (OCTG) Market, by Product (2019-2032)
- 17.4 Middle East and Africa Oil Country Tubular Goods (OCTG) Market, by Application (2019-2032)
- 17.5 Middle East and Africa Oil Country Tubular Goods (OCTG) Market, by Dimension (2019-2032)
- 17.6 Middle East and Africa Oil Country Tubular Goods (OCTG) Market, by Material (2019-2032)
- 17.7 Middle East and Africa Oil Country Tubular Goods (OCTG) Market, by Process (2019-2032)
- 17.8 Middle East and Africa Oil Country Tubular Goods (OCTG) Market, by Grade (2019-2032)
- 17.9 Middle East and Africa Oil Country Tubular Goods (OCTG) Market, by Country (2019-2032)
- 17.9.1 Kingdom of Saudi Arabia
- 17.9.2 South Africa
- 17.9.3 U.A.E.
- 17.9.4 Egypt
- 17.9.5 Rest of Middle East and Africa
- SECTION 18 - COMPANY SHARE ANALYSIS
- 18.1 Global Oil Country Tubular Goods (OCTG) Market, Company Share Analysis
- 18.2 North America Oil Country Tubular Goods (OCTG) Market, Company Share Analysis
- 18.3 Europe Oil Country Tubular Goods (OCTG) Market, Company Share Analysis
- 18.4 Asia-Pacific Oil Country Tubular Goods (OCTG) Market, Company Share Analysis
- SECTION 19 - COMPANY PROFILES
- 19.1 Tenaris
- 19.1.1 Company Snapshot
- 19.1.2 Financial Overview
- 19.1.3 Product Portfolio
- 19.1.4 Recent Developments
- 19.2 TMK
- 19.2.1 Company Snapshot
- 19.2.2 Financial Overview
- 19.2.3 Product Portfolio
- 19.2.4 Recent Developments
- 19.3 Vallourec
- 19.3.1 Company Snapshot
- 19.3.2 Financial Overview
- 19.3.3 Product Portfolio
- 19.3.4 Recent Developments
- 19.4 United States Steel Corporation
- 19.4.1 Company Snapshot
- 19.4.2 Financial Overview
- 19.4.3 Product Portfolio
- 19.4.4 Recent Developments
- 19.5 National Oilwell Varco
- 19.5.1 Company Snapshot
- 19.5.2 Financial Overview
- 19.5.3 Product Portfolio
- 19.5.4 Recent Developments
- 19.6 Sumitomo Corporation
- 19.6.1 Company Snapshot
- 19.6.2 Financial Overview
- 19.6.3 Product Portfolio
- 19.6.4 Recent Developments
- 19.7 JFE Steel Corporation
- 19.7.1 Company Snapshot
- 19.7.2 Financial Overview
- 19.7.3 Product Portfolio
- 19.7.4 Recent Developments
- 19.8 Weatherford
- 19.8.1 Company Snapshot
- 19.8.2 Financial Overview
- 19.8.3 Product Portfolio
- 19.8.4 Recent Developments
- 19.9 Schlumberger
- 19.9.1 Company Snapshot
- 19.9.2 Financial Overview
- 19.9.3 Product Portfolio
- 19.9.4 Recent Developments
- 19.10 ArcelorMittal
- 19.10.1 Company Snapshot
- 19.10.2 Financial Overview
- 19.10.3 Product Portfolio
- 19.10.4 Recent Developments
- SECTION 20 - RELATED REPORTS
- SECTION 21 - DISCLAIMER
RESEARCH METHODOLOGY
The research methodology employed in Uniprism Market Research involves four basic steps namely research and data collection, data pre-processing, modeling and forecasting, quality assurance and output.
RESEARCH AND DATA COLLECTION
A tripod model research technique is followed for research and data collection in which various approaches such as primary research, secondary research, and product mapping are considered.
Primary research basically involves the process of conducting personalized interviews with market related professionals of major market players, investors, distributors, vendors and many more.
The secondary research include data published by government, annual reports, press releases, investor presentations of companies, white papers, certified publications, annual manufacturing limit of the respective industries related to the market, production consumption analysis of certain products respective to the market and many more.
Below mention are few of the sources which we have considered while estimating the market size:
For instance,
- Research articles published on Technium
- Science and MDPI
- Research publications by government approved associations and societies
Product mapping means the process of mapping the list of products that a key player contributes to the market as well as estimating the revenue of those products in order to define the Global Company share analysis of the respective Global Company in global, regional, and country level markets.
DATA PRE-PROCESSING
The term "data pre-processing" refers to the collection of procedures and methods used to clean, modify, and make ready for analysis the raw data gathered during research and data collection. The completion of this phase is necessary to guarantee that the data are reliable, consistent, and appropriate for statistical analysis and other data-driven tasks. The data pre-processing ensures that the information gathered from research and data collection is comparable and expressed in standard units, by the integration of missing data pointers and algorithmic approaches.
MODELING AND FORECASTING
The process of developing mathematical, statistical, or computational representations of real-world occurrences or relationships is known as modelling. These models are intended to replicate and explain market interactions, interdependence, and dynamics. These models are used by Uniprism Market Research to acquire a better knowledge of numerous market characteristics such as customer preferences, pricing elasticity, competition dynamics, and more. Depending on the individual study aims, many types of models are utilized, such as regression models, econometric models, decision tree models, and machine learning models.
Forecasting is the process of predicting future market conditions, trends, and occurrences using past data and models. Forecasting is used by Uniprism Market Research to estimate future sales, demand for products or services, market growth, and other important performance metrics. Forecasting accurately can assist organizations in making educated decisions about resource allocation, pricing, inventory management, and marketing tactics.
We create standardized bottom-up or top-down models that scale by leveraging data science and machine learning technology. All our market models consider the unique market characteristics of each country. Forecasting is based on major market indicators and a combination of traditional methodologies, such as exponential smoothing, time series analysis, regression analysis, and more modern techniques such as machine learning algorithms are all forecasting methodologies. The method chosen is determined on the nature of the data and the specific forecasting aims.
QUALITY ASSURANCE AND OUTPUT
Quality assurance and output involves the process of validation, adjustments, further publications of key market indicators. Extensive plausibility and consistency tests are performed on derived time series to ensure the high degree of quality of our market analysis. This quality assurance procedure also includes rigorous inspection, validation, and editing by an experienced management team to assure the dependability of the published data.