The “Oil Country Tubular Goods Market by Product (seamless and welded) and Geography (North America, APAC, Europe, MEA, and South America) – Forecast and Analysis 2021-2025” report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years.
Latest market research report titled OCTG Market has been announced by Technavio which is proudly partnering with Fortune 500 companies for over 16 years
Latest market research report titled OCTG Market has been announced by Technavio which is proudly partnering with Fortune 500 companies for over 16 years
46% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for OCTG in North America. Market growth in this region will be faster than the growth of the market in Europe, MEA, and South America. The increase in onshore and offshore oil and gas projects and the rising investments and initiatives undertaken by various governments will facilitate the OCTG market growth in North America over the forecast period.
The potential growth difference for the oil country tubular goods market between 2020 and 2025 is USD 11.67 billion. To get the exact yearly growth variance and the Y-O-Y growth rate, Talk to our analyst.
Key Market Dynamics:
Market Driver
Market Challenges
The increasing investments in upstream activities and increasing focus on unconventional oil and gas e&p activities are some of the key market drivers. However, factors such as environmental concerns related to drilling will challenge market growth. The holistic analysis of the drivers & challenges will help in deducing end goals and refining marketing strategies to gain a competitive edge. The OCTG market analysis report also provides detailed information on other upcoming trends that will have a far-reaching effect on market growth.
To learn about additional key drivers, trends, and challenges available with Technavio. Read our FREE Sample Report right now!
The oil country tubular goods market report is segmented by Product (seamless and welded) and Geography (North America, APAC, Europe, MEA, and South America).
The OCTG market share growth by the seamless segment will be significant for revenue generation. Superior mechanical properties of seamless OCTG, such as high tensile strength, have resulted in their increased utilization in high-pressure drilling environments. Seamless OCTG is more reliable than welded OCTG due to the absence of any welded seam, which can be the source of leakage. Furthermore, it is easy to calculate the pressure of seamless pipes accurately. Technavio report provides an accurate prediction of the contribution of all the segments to the growth of the oil country tubular goods market size and actionable market insights on each segment.
View our free sample report for additional insights into the contribution of all the segments in the report.
Some Companies Mentioned
The oil country tubular goods market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
ArcelorMittal SA
Hunting Plc
JFE Holdings Inc.
Jindal SAW Ltd.
Nippon Steel Corp.
PAO TMK
Tenaris SA
The Weir Group Plc
United States Steel Corp.
Vallourec SA
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Source: https://www.prnewswire.com/news-releases/oil-country-tubular-goods-market-to-grow-by-usd-11-67-billion-from-2020-to-2025-increasing-investments-in-upstream-activities-to-boost-market-growth–17000-technavio-reports-301450963.html
