Jun 24, 2020   SOURCE: BusinessWire

Global OCTG (Oil Country Tubular Goods) Market: Insights & Forecast with Potential Impact of COVID-19 (2020-2024) - ResearchAndMarkets.com

The "Global OCTG (Oil Country Tubular Goods) Market: Insights & Forecast with Potential Impact of COVID-19 (2020-2024)" report has been added to ResearchAndMarkets.com's offering.

The global OCTG market is expected to record a value of US$22.52 billion in 2024, increasing at a CAGR of 5.4%, for the duration spanning 2020-2024.

The factors such as growing oil demand, growth in hydraulic fracturing activities, rising energy consumption, escalating investment on offshore drilling activities, accelerating economic growth and technological innovations in the drilling techniques would drive the growth of the market. However, market growth would be challenged by the rising brent oil prices and environmental issues. A few notable trends may include, rise in horizontal directional drilling for oil & gas excavation, increasing R&D spending in the energy sector and growth in the footage of well drilled.

The global OCTG industry has been very lucrative over the past few years due to the consistent increase in the exploration and production activities of oil & gas. The market has been segmented into seamless and welded, on the basis of the process. The seamless OCTG dominated the market due to their increased ability to withstand high pressure, high temperature, higher mechanical stress and corrosive atmosphere. However, welded OCTG have also shown steady growth in the global market due to the cost-effective factor.

The fastest-growing regional market was North America, due to the increased production of oil and gas. In addition, technological advancements in exploration activities have also led to the increased demand for high-end tubular & casting product in the region. However, the sudden outbreak of COVID-19 is expected to cause a severe disruption in the global economy, which would lead to the decline in the exploration and production of oil & gas and thereby would unfavourably affect the growth of the OCTG market in the initial stage of the forecasted period.

Scope of the Report

  • The report provides a comprehensive analysis of the global OCTG (oil country tubular goods) market.
  • The major regional markets (North America, Asia-Pacific, Europe, Middle East & Africa and South America) have been analyzed.
  • The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
  • The competitive landscape of the market, along with the company profiles of leading players (United States Steel, National Oilwell Varco, Tenaris S.A., PAO TMK, Vallourec and MRC Global) are also presented in detail.

Key Topics Covered

1. Market Overview

1.1 An Introduction

1.2 OCTG Product Types

1.3 OCTG Pipe Classification

1.4 OCTG Pipe Comparison

1.5 OCTG Manufacturing Process

2. Impact of COVID-19

2.1 Downfall in the Global Economy

2.2 Decline in the International Trade

2.3 Fall in the Rig Count

2.4 Regional Impact

3. Global OCTG Market

3.1 Global OCTG Market by Value

3.2 Global OCTG Market Forecast by Value

3.3 Global OCTG Market Value by Process

3.3.1 Global Seamless OCTG Market by Value

3.3.2 Global Seamless OCTG Market Forecast by Value

3.3.3 Global Welded OCTG Market by Value

3.3.4 Global Welded OCTG Market Forecast by Value

3.4 Global OCTG Market Value by Grade

3.4.1 Global Premium Grade OCTG Market by Value

3.4.2 Global Premium Grade OCTG Market Forecast by Value

3.4.3 Global API Grade OCTG Market by Value

3.4.4 Global API Grade OCTG Market Forecast by Value

3.5 Global OCTG Market Value by Products

3.5.1 Global Well Casting Market by Value

3.5.2 Global Well Casting Market Forecast by Value

3.5.3 Global Drill Pipe Market by Value

3.5.4 Global Drill Pipe Market Forecast by Value

3.5.5 Global Production Tubes Market by Value

3.5.6 Global Production Tubes Market Forecast by Value

3.6 Global OCTG Market Value by Regions

3.7 Global OCTG Demand Volume

3.8 Global OCTG Demand Volume Forecast

3.9 Global OCTG Demand Volume by Region

3.10 Global Seamless OCTG Production and Capacity Volume

3.11 Global Seamless OCTG Production and Capacity Volume Forecast

4. Regional OCTG Market

4.1 North America

4.1.1 North America Global OCTG Market by Value

4.1.2 North America OCTG Market Forecast by Value

4.1.3 The U.S. OCTG Demand Volume

4.1.4 The U.S. OCTG Demand Volume Forecast

4.1.5 The U.S. OCTG Demand Volume by Products

4.1.6 The U.S. Seamless & Welded OCTG Demand Volume

4.1.7 The U.S. Seamless & Welded OCTG Demand Volume Forecast

4.1.8 The U.S. OCTG Production Volume

4.1.9 The U.S. OCTG Production Volume Forecast

4.1.10 The U.S. OCTG Exports Volume

4.1.11 The U.S. OCTG Imports Volume

4.1.12 The U.S. OCTG Imports by Region

4.2 Asia Pacific

4.2.1 Asia Pacific OCTG Market by Value

4.2.2 Asia Pacific OCTG Market Forecast by Value

4.3 Europe

4.3.1 Europe OCTG Market by Value

4.3.2 Europe OCTG Market Forecast by Value

4.4 Middle East & Africa

4.4.1 Middle East & Africa OCTG Market by Value

4.4.2 Middle East & Africa OCTG Market Forecast by Value

4.5 South America

4.5.1 South America OCTG Market by Value

4.5.2 South America OCTG Market Forecast by Value

5. Market Dynamics

5.1 Growth Drivers

5.1.1 Growing Oil Demand

5.1.2 Growth in Hydraulic Fracturing Activities

5.1.3 Rising Energy Consumption

5.1.4 Escalating Investment in Offshore Drilling Activities

5.1.5 Accelerating Economic Growth

5.1.6 Technological Innovation in Drilling Techniques

5.2 Key Trends and Developments

5.2.1 Rise in Horizontal Directional Drilling for Oil & Gas Excavation

5.2.2 Increasing R&D Spending in Energy Sector

5.2.3 Growth in Footage of Wells Drilled

5.3 Challenges

5.3.1 Rising Brent Oil Prices

5.3.2 Environmental Issues

6. Competitive Landscape

6.1 Global OCTG Market

6.1.1 Key Players - Revenue Comparison

6.1.2 Key Players - Market Cap Comparison

6.1.3 Key Players - Premium OCTG Market Share Comparison

6.2 The U.S. OCTG Market

6.2.1 Key Players - Market Share Comparison

6.3 Russia OCTG Market

6.3.1 Key Players - Market Share Comparison

7. Company Profiles

7.1 United States Steel Corporation

7.1.1 Business Overview

7.1.2 Financial Overview

7.1.3 Business Strategies

7.2 National Oilwell Varco

7.3 Tenaris S.A.

7.4 PAO Trubnaya Metallurgicheskaya Kompaniya

7.5 Vallourec S.A.

7.6 MRC Global

For more information about this report visit https://www.researchandmarkets.com/r/d2hg5m