Market Overview:
The global OCTG market is estimated to be valued at US$ XX million in 2018 and is projected to reach US$ XX million by 2030, registering a CAGR of X.X% during the forecast period. The casing segment was estimated to account for the highest sales market share of 76% in 2018. The application segment for onshore accounted for the majority share of the global OCTG market in 2018. However, the offshore application is expected to register a higher CAGR during the forecast period owing to increasing exploration and production activities across various regions. North America was estimated to dominate the global OCTG market in terms of revenue in 2018, followed by Europe and Asia Pacific.
 Industry Outlook.svg)
Product Definition:
Oil Country Tubular Goods (OCTG) are steel tubes used in the oil and gas industry. OCTG is important because it helps to transport oil and gas from the ground to the surface.
Casing:
Casing is the protective outer covering of an oil well. It protects the sensitive inner components of an oil well from external environmental factors such as temperature, pressure, and fluids. The most common type of casing used in an oil well consists of a cemented plastic liner installed around the downhole portion of a drill pipe or production line to form a sealed connection between surface facilities and the borehole.
Tubing:
Tubing is a process in which the product is rolled into a long, thin tube and then cut to length. It finds application in several industries including oil & gas, construction, and mining. In the oil & gas industry it is used for exploration purposes wherein it helps in lowering the ground pressure of heavy drilling equipment by reducing its weight.
Application Insights:
The onshore application segment dominated the global oil country tubular goods (OCTG) market in 2018, accounting for a share of 60.1% in terms of revenue. The segment is expected to witness growth at a CAGR of XX% from 2019 to 2030 owing to rising demand for OCTG from various onshore fields across the world including Saudi Arabia, UAE, Iran and Mexico among others.
Offshore application is projected to grow at fastest rate during forecast period owing to increasing offshore production particularly in Brazil, China and Russia among others which will augment demand over the next eight years.
Regional Analysis:
The Middle East and Africa OCTG market is expected to grow at a significant rate over the forecast period. The growth can be attributed to increasing offshore drilling activities in the region. In addition, growing oil production in countries such as Saudi Arabia, UAE and Iran is anticipated to drive demand for these products over the coming years.
North America was estimated to be the second-largest regional segment accounting for a revenue share of 22% in 2018 owing to high product demand from major industries including energy & power, construction and manufacturing sector. The U.S., which is one of the leading producers of crude oil across this region has also been witnessing an increase in onshore well drilling activities due rising domestic consumption along with steady economic growth since 2016-2017Q2 (July 2017 - June 2018). This factor coupled with increasing offshore drilling activities is likely to have a positive impact on industry expansion over next few years.
Growth Factors:
- Increasing demand from the energy sector: The global oil and gas industry is witnessing a resurgence in activity, with OCTG products being in high demand to meet the production needs of this sector.
- Rising investment in infrastructure development: There is a significant increase in spending on infrastructure projects across the globe, which is benefiting the OCTG market.
- Growing population and rising income levels: This is resulting in an increase in consumption of goods and services, including oil and gas, thereby driving growth for OCTG products.
- Technological advancements: The introduction of new technologies such as horizontal drilling has led to an increase in exploration activities for oil and gas reserves, boosting demand for OCTG products. 5) Emerging markets offering potential growth opportunities: A number of emerging markets are witnessing rapid economic growth, presenting opportunities for expansion into these regions by players operating within the OCTG market
Scope Of The Report
Report Attributes
Report Details
Report Title
Oil Country Tubular Goods (OCTG) Market Research Report
By Type
Casing, Tubing, Line Pipe, Drill Pipe, The casing segment was estimated to account for the highest sales market share of 76% in 2018.
By Application
Onshore, Offshore
By Companies
Tenaris, Vallourec, TMK Group, Nippon Steel and Sumitomo Metal, U. S. Steel Tubular Products, ArcelorMittal, SANDVIK, Zekelman Industries, SB international Inc, Continental Alloys and Services, Baoshan Iron and Steel Co.,Ltd., Jiangsu Changbao Steel tube Co.,Ltd., Hunan Valin Hengyang Steel Tube(Group)Co.,Ltd., Tian Jin Pipe (group) Corporation(TPCO), JFE, Interpipe, Voestalpine, Evraz, JESCO, Jindal Saw, Maharashtra, SeAH Steel, Nexteel, Hyundai Hysco
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
248
Number of Tables & Figures
174
Customization Available
Yes, the report can be customized as per your need.
Global Oil Country Tubular Goods (OCTG) Market Report Segments:
The global Oil Country Tubular Goods (OCTG) market is segmented on the basis of:
Types
Casing, Tubing, Line Pipe, Drill Pipe, The casing segment was estimated to account for the highest sales market share of 76% in 2018.
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Onshore, Offshore
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Tenaris
- Vallourec
- TMK Group
- Nippon Steel and Sumitomo Metal
- U. S. Steel Tubular Products
- ArcelorMittal
- SANDVIK
- Zekelman Industries
- SB international Inc
- Continental Alloys and Services
- Baoshan Iron and Steel Co.,Ltd.
- Jiangsu Changbao Steel tube Co.,Ltd.
- Hunan Valin Hengyang Steel Tube(Group)Co.,Ltd.
- Tian Jin Pipe (group) Corporation(TPCO)
- JFE
- Interpipe
- Voestalpine
- Evraz
- JESCO
- Jindal Saw
- Maharashtra
- SeAH Steel
- Nexteel
- Hyundai Hysco
 Market Overview.svg)
Highlights of The Oil Country Tubular Goods (OCTG) Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Casing
- Tubing
- Line Pipe
- Drill Pipe
- The casing segment was estimated to account for the highest sales market share of 76% in 2018.
- By Application:
- Onshore
- Offshore
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Oil Country Tubular Goods (OCTG) Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
 Market Statistics.svg)
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Oil Country Tubular Goods (OCTG) is a trade name for a type of tubing used in the oil and gas industry. OCTG is made from high-quality, corrosion-resistant steel that can withstand harsh environmental conditions.
Some of the major companies in the oil country tubular goods (octg) market are Tenaris, Vallourec, TMK Group, Nippon Steel and Sumitomo Metal, U. S. Steel Tubular Products, ArcelorMittal, SANDVIK, Zekelman Industries, SB international Inc, Continental Alloys and Services, Baoshan Iron and Steel Co.,Ltd., Jiangsu Changbao Steel tube Co.,Ltd., Hunan Valin Hengyang Steel Tube(Group)Co.,Ltd., Tian Jin Pipe (group) Corporation(TPCO), JFE, Interpipe, Voestalpine, Evraz, JESCO, Jindal Saw, Maharashtra, SeAH Steel, Nexteel, Hyundai Hysco.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Oil Country Tubular Goods (OCTG) Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Oil Country Tubular Goods (OCTG) Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Oil Country Tubular Goods (OCTG) Market - Supply Chain
4.5. Global Oil Country Tubular Goods (OCTG) Market Forecast
4.5.1. Oil Country Tubular Goods (OCTG) Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Oil Country Tubular Goods (OCTG) Market Size (000 Units) and Y-o-Y Growth
4.5.3. Oil Country Tubular Goods (OCTG) Market Absolute $ Opportunity
5. Global Oil Country Tubular Goods (OCTG) Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Oil Country Tubular Goods (OCTG) Market Size and Volume Forecast by Type
5.3.1. Casing
5.3.2. Tubing
5.3.3. Line Pipe
5.3.4. Drill Pipe
5.3.5. The casing segment was estimated to account for the highest sales market share of 76% in 2018.
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Oil Country Tubular Goods (OCTG) Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Oil Country Tubular Goods (OCTG) Market Size and Volume Forecast by Application
6.3.1. Onshore
6.3.2. Offshore
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Oil Country Tubular Goods (OCTG) Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Oil Country Tubular Goods (OCTG) Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Oil Country Tubular Goods (OCTG) Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Oil Country Tubular Goods (OCTG) Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Oil Country Tubular Goods (OCTG) Demand Share Forecast, 2019-2026
9. North America Oil Country Tubular Goods (OCTG) Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Oil Country Tubular Goods (OCTG) Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Oil Country Tubular Goods (OCTG) Market Size and Volume Forecast by Application
9.4.1. Onshore
9.4.2. Offshore
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Oil Country Tubular Goods (OCTG) Market Size and Volume Forecast by Type
9.7.1. Casing
9.7.2. Tubing
9.7.3. Line Pipe
9.7.4. Drill Pipe
9.7.5. The casing segment was estimated to account for the highest sales market share of 76% in 2018.
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Oil Country Tubular Goods (OCTG) Demand Share Forecast, 2019-2026
10. Latin America Oil Country Tubular Goods (OCTG) Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Oil Country Tubular Goods (OCTG) Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Oil Country Tubular Goods (OCTG) Market Size and Volume Forecast by Application
10.4.1. Onshore
10.4.2. Offshore
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Oil Country Tubular Goods (OCTG) Market Size and Volume Forecast by Type
10.7.1. Casing
10.7.2. Tubing
10.7.3. Line Pipe
10.7.4. Drill Pipe
10.7.5. The casing segment was estimated to account for the highest sales market share of 76% in 2018.
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Oil Country Tubular Goods (OCTG) Demand Share Forecast, 2019-2026
11. Europe Oil Country Tubular Goods (OCTG) Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Oil Country Tubular Goods (OCTG) Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Oil Country Tubular Goods (OCTG) Market Size and Volume Forecast by Application
11.4.1. Onshore
11.4.2. Offshore
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Oil Country Tubular Goods (OCTG) Market Size and Volume Forecast by Type
11.7.1. Casing
11.7.2. Tubing
11.7.3. Line Pipe
11.7.4. Drill Pipe
11.7.5. The casing segment was estimated to account for the highest sales marke share of 76% in 2018.
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Oil Country Tubular Goods (OCTG) Demand Share, 2019-2026
12. Asia Pacific Oil Country Tubular Goods (OCTG) Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Oil Country Tubular Goods (OCTG) Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Oil Country Tubular Goods (OCTG) Market Size and Volume Forecast by Application
12.4.1. Onshore
12.4.2. Offshore
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Oil Country Tubular Goods (OCTG) Market Size and Volume Forecast by Type
12.7.1. Casing
12.7.2. Tubing
12.7.3. Line Pipe
12.7.4. Drill Pipe
12.7.5. The casing segment was estimated to account for the highest sales market share of 76% in 2018.
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Oil Country Tubular Goods (OCTG) Demand Share, 2019-2026
13. Middle East & Africa Oil Country Tubular Goods (OCTG) Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Oil Country Tubular Goods (OCTG) Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Oil Country Tubular Goods (OCTG) Market Size and Volume Forecast by Application
13.4.1. Onshore
13.4.2. Offshore
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Oil Country Tubular Goods (OCTG) Market Size and Volume Forecast by Type
13.7.1. Casing
13.7.2. Tubing
13.7.3. Line Pipe
13.7.4. Drill Pipe
13.7.5. The casing segment was estimated to account for the highest sales market share of 76% in 2018.
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Oil Country Tubular Goods (OCTG) Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Oil Country Tubular Goods (OCTG) Market: Market Share Analysis
14.2. Oil Country Tubular Goods (OCTG) Distributors and Customers
14.3. Oil Country Tubular Goods (OCTG) Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Tenaris
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Vallourec
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. TMK Group
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Nippon Steel and Sumitomo Metal
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. U. S. Steel Tubular Products
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. ArcelorMittal
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. SANDVIK
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Zekelman Industries
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. SB international Inc
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Continental Alloys and Services
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Baoshan Iron and Steel Co.,Ltd.
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Jiangsu Changbao Steel tube Co.,Ltd.
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Hunan Valin Hengyang Steel Tube(Group)Co.,Ltd.
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Tian Jin Pipe (group) Corporation(TPCO)
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. JFE
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Interpipe
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. Voestalpine
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. Evraz
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. JESCO
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. Jindal Saw
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
