Pune, Maharashtra -- (SBWIRE) -- 12/09/2019 -- Oil Country Tubular Goods (OCTG) Market:

Executive Summary

The class of equipment mainly consisting of tubes and pipes used in the oil and gas industry are referred to as Oil Country Tubular Goods (OCTG). They include the family of seamless rolled products which consist of drill pipes, casings, and tubings. Made of high-grade materials and metals, they are subjected to various tests and conditions based on their specific applications. These are used during the various stages of drilling an oil or gas well, as well as in the transport and processing phases.

With the expansion of the transport and petroleum processing network, the demand for OCTG has seen a significant rise in the market. The main reasons behind the surge in the demand can be attributed to the increased production and drilling activities, rising energy demand due to the consumption needs, the demand for alternative technologies, discovery of shale resources, and in the upstream sector with CAPEX improvement. The report studying the global Oil Country Tubular Goods (OCTG) market provides resourceful information on the current market status.

Request Free Sample Report @ https://www.wiseguyreports.com/sample-request/4583425-global-oil-country-tubular-goods-octg-market-value

With a valuation of US$28.9 billion in the year 2018, the Oil Country Tubular Goods (OCTG) market global production volume was estimated at 15,100.21 thousand tonnes. The specialized product market has garnered high market importance with increased consumption requirements leading to the growth of offshore oil fields. Fluctuating natural gas and crude oil prices, changing consumer preferences due to the growing concern regarding fossil fuels and the overall economy influence the market. The report studying the global Oil Country Tubular Goods (OCTG) market provides resourceful information on the current market status.

Market Segmentation

The market segmentation has been done by this report to study the significant trends and factors driving or inhibiting the market in each of the segments and regions. The market segments based on grade are API and Premium which are the steel pipe grades based on their properties such as ductility, and thermal and temperature compatibility. Another segmentation would be that based on the major applications they are used in and is listed as Onshore and Offshore segments. The main segmentation of the market has been done regarding the product type and is given as Drill Pipe, Casing Pipe, and Tubing Pipe. The manufacturing process segments are given as Seamless and Welded.

Regional Overview

The report aims to analyze the key regions in the global Oil Country Tubular Goods (OCTG) market and the growth rates and market potential and the of each of these regional submarkets. The competitive landscape has been presented in terms of the sales, segments, market share, and business strategies. Using SWOT analysis, the report gives a picture of the market scenario with the key opportunities, risks and the factors that are affecting the local markets. Keeping in view the stakeholders, the report covers the current trends and the high growth sectors and also gives a forecast of the markets. The key regions are the Americas, Europe, APAC, MEA and countries covered are Russia, Norway, U.S., Canada, Brazil, India, China, Saudi Arabia, Kuwait, and UAE.

Industry News

Evarez, a Russia based steelmaker, expects the demand and sales of its Oil Country Tubular Goods (OCTG) in North America to pick up in 2019 as compared to the prior quarter banking on the prices and demand in the American market scenario looking upscale. The company reported a US$1 billion revenue and accounted for about 15% of the global vanadium supply in the past years.

Continuous…

For further information on this report, visit - https://www.wiseguyreports.com/reports/4583425-global-oil-country-tubular-goods-octg-market-value