Overview
The OCTG (oil country tubular goods) market is projected to grow at a CAGR of 7.14% during the forecast period.
As per the OCTG (oil country tubular goods) market research report, the global market for OCTG (oil country tubular goods) is anticipated to grow rapidly by US$43 billion by 2023. As per analysts, technological developments along with the production of crude oil will drive the market growth throughout the forecast period. The OCTG (oil country tubular goods) market research report provides an in-depth analysis of the global OCTG (oil country tubular goods) market and its trade, make, regions, and type segments. The slow economic development as well as upsurge in production costs are the factors which could affect the OCTG (oil country tubular goods) market growth during the forecast period. The OCTG (oil country tubular goods) market research report by expert analysts is intended to help companies in the OCTG (oil country tubular goods) market.
Key Players
The key players in Global OCTG Market7 are Nippon Steel & Sumitomo Metal Co. (Japan), Vallourec (France), Tenaris(Europe), National Oilwell Varco (U.S.), TMK (U.S.), Steel Tubular Products Inc(NA)., ILJIN STEEL CO (S. Korea), Continental Alloys (Malaysia), Anhui Tianda Oil Pipe Company(China).
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Market Segmentation
The global OCTG (oil country tubular goods) market has been segmented based on trade, make, regions, and type. On the basis of trade, the market for OCTG (oil country tubular goods) is segmented based on premium and API. Additionally, the market on the basis of make, is segmented into seamless, welded. The global market for OCTG (oil country tubular goods) is also covered based on type segment which is further split into tubing, casing, drill pipe.
Key influences such as slow exploration activities across the oil and gas sector could obstruct the OCTG (oil country tubular goods) market growth. However, as per the OCTG (oil country tubular goods) market research report, innovative tools as well as development and production of natural gas at high levels will drive growth during the forecast period. These key growth factors will help support the OCTG (oil country tubular goods) market growth at a high CAGR. The segmental analysis of trade, make, regions, and type segments as well as regional market analysis has been presented in the global OCTG (oil country tubular goods) market research report. Analysts studying the OCTG (oil country tubular goods) market have presented projections in the OCTG (oil country tubular goods) market research report assisting OCTG (oil country tubular goods) market-based companies in numerous ways. The OCTG (oil country tubular goods) market research report offers crucial details about the OCTG (oil country tubular goods) market based on the data and forecasts till 2023.
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Regional Overview
North America, Europe, Asia Pacific and the rest of the world regional market for OCTG (oil country tubular goods) are primarily covered in the global OCTG (oil country tubular goods) market research report. The report also covers country-level markets spread across North America – the United States, Canada, and Mexico. In South America – Brazil and other country-level OCTG (oil country tubular goods) markets are covered in the report. In Asia-Pacific (APAC) region, the country-level OCTG (oil country tubular goods) markets covered are China, India, Japan, and others. The OCTG (oil country tubular goods) market research report also covers the regional market for OCTG (oil country tubular goods) spread across European countries including the United Kingdom, France, Italy, Spain, and Germany, etc. The OCTG (oil country tubular goods) market research report further explores other regional markets from the rest of the world including OCTG (oil country tubular goods) markets of the Middle East and Africa. As per the global OCTG (oil country tubular goods) market research report.
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Competitive Landscape
The rising investment in the upstream sector as well as the growth in shale gas reserves are expected to accelerate the OCTG (oil country tubular goods) market growth worldwide. The global OCTG (oil country tubular goods) market is set to witness challenges including highly regulated drilling and production activities, however, companies in the OCTG (oil country tubular goods) market will sustain the growth rate. The OCTG (oil country tubular goods) market research report also offers company profiles of key players operating in the OCTG (oil country tubular goods) market around the world. Additionally, the global OCTG (oil country tubular goods) market report provides detailed analysis of the market based on primary and secondary research data collected from the OCTG (oil country tubular goods) market’s key decision makers as well as stakeholders. The OCTG (oil country tubular goods) market research report covers all such factors assisting companies in the OCTG (oil country tubular goods) market to improve their plans and portfolio.
Industry News
Tenaris Ltd. recently announced the conclusion of its recently discussed takeover of PAO TMK through IPSCO Tubulars. The purchase price was measured on a cash-free basis as well as the final payment in cash was US$1,067 million, with a working capital of around US$2,20 million after negotiated changes. In its annual report, Tenaris will integrate IPSCO's capital structure and operating performance by the end of first quarter of 2020.
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