Global Oil Country Tubular Goods Overview
Oil Country Tubular Goods Market accounted for USD 20.32 Billion in 2020 and is estimated to be USD 36.58 Billion by 2030 and is anticipated to register a CAGR of 6.1%.
The term "Oil Country Tubular Goods" refers to a group of tubular items, such as drill pipe, casing, line pipe, and tubing, which are loaded under specific conditions depending on their specific application. The American Petroleum Institute grade is extensively used worldwide because to its versatility and safety. The main objective of API is to develop and draught standards for the oil and petroleum industry in order to ensure the dependability and safety of industrial gear. The International Organization for Standardization's requirements are followed by premium items. In onshore and offshore exploration and extraction facilities, tubular goods are commonly employed in the oil industry. With the help of cement or other materials placed between the casings and wellbore, well casing is frequently kept in place.
Global Oil Country Tubular Goods Drivers & Restraints
The development of a nation's economy and civilisation depends heavily on the production of oil and gas. Government and business sector interest in the oil and gas sector has increased due to the growth of offshore oil and gas rigs and the recent development of shale gas applications in the United States. The North Sea's growing offshore exploration activity has now expanded into deeper waters, necessitating more sophisticated equipment, which has fueled the growth of the tubular products industry in the oil-producing nations.
Global Oil Country Tubular Goods Segmentations & Regional Insights
The Oil Country Tubular Goods Market is segmented based on product type, metal grades, and region.
On the basis of product type, the Oil Country Tubular Goods Market is segmented into Seamless and Electric Resistance Welding, and Others (Fiber Reinforced Plastic). On the basis of metal grades, the Oil Country Tubular Goods Market is segmented into API and Premium.
Regional Insights:
On basis of region the Oil Country Tubular Goods Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market for tubular goods in oil-producing countries has recently been dominated by North America. Drill pipes, casing, and OTG tubing goods are in high demand right now.
Report Scope:
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Attribute |
Details |
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Base year for estimation |
2020 |
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Forecast period |
2020– 2030 |
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Market representation |
Revenue in USD Billion & CAGR from 2020 to 2030 |
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Market Segmentation |
By Product Type – Seamless and Electric Resistance Welding, and Others (Fiber Reinforced Plastic). By Metal Grades – API and Premium. |
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Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029. For the purpose of this study, has segmented the Global Oil Country Tubular Goods report based on test, application, and region.
Oil Country Tubular Goods Market, By Product Type:
- Seamless and Electric Resistance Welding
- Others (Fiber Reinforced Plastic)
Oil Country Tubular Goods Market, By Application:
- API
- Premium
Oil Country Tubular Goods Market, By Region:
- North America
- Middle East & Africa
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Europe
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- U.S.
- Canada
- Middle East & Africa
Global Oil Country Tubular Goods Competitive Landscape & Key Players
The key players operating the Oil Country Tubular Goods Market Includes Vallourec S.A., Tenaris S.A., Tenergy Equipment and Services Ltd., National oil well Varco, Inc., Arcelor Mittal S.A. Nippon Steel & Sumitomo Metal Corp., and Sumitomo Metal Corporation, Steel Tubular Products, Inc., Tmk Ipsco Enterprise, Inc., and JFE Steel Corp.
Global Oil Country Tubular Goods Company Profile
- Vallourec S.A.
- Tenaris S.A.
- Tenergy Equipment and Services Ltd.
- National oil well Varco, Inc.
- Arcelor Mittal S.A
- Nippon Steel & Sumitomo Metal Corp.
- Sumitomo Metal Corporation
- Steel Tubular Products, Inc.
- Tmk Ipsco Enterprise, Inc.
- JFE Steel Corp.
Global Oil Country Tubular Goods Highlights
FAQs
The Global Oil Country Tubular Goods Market is segmented into product type, metal grades, and region.
The rising number of oil and gas rigs in offshore areas, as well as the recent development of shale gas applications in the United States, have piqued government and corporate sector interest in the oil and gas sector.
By region, The North America region continues to dominate the market.
The Key players operating in the Global Oil Country Tubular Goods Market include Vallourec S.A., Tenaris S.A., Tenergy Equipment and Services Ltd., National oil well Varco, Inc., Arcelor Mittal S.A. Nippon Steel & Sumitomo Metal Corp., and Sumitomo Metal Corporation, Steel Tubular Products, Inc., Tmk Ipsco Enterprise, Inc., and JFE Steel Corp.