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
- To gain access to more vendor profiles with their key offerings available with Technavio, Click Here
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Oil Country Tubular Goods Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of over 5.39% |
Market growth 2021-2025 |
USD 11.67 billion |
Market structure |
Fragmented |
YoY growth (%) |
4.50 |
Regional analysis |
North America, APAC, Europe, MEA, and South America |
Performing market contribution |
North America at 46% |
Key consumer countries |
US, China, Russian Federation, Canada, Saudi Arabia, and Argentina |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
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., and Vallourec SA |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Key Topics Covered:
- Executive Summary
- Market Landscape
- Market Sizing
- Five Forces Analysis
- Market Segmentation
- Customer landscape
- Geographic Landscape
- Vendor Landscape
- Vendor Analysis
- Appendix
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SOURCE Technavio
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