Oil Country Tubular Goods Market: Exploring Opportunities with Market Size and Growth Projections

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Oil Country Tubular Goods Market 2018- 2028
Trends, Opportunities, and Forecasts Techsci
Research
TechSci Research has reported that the Global Oil
Country Tubular Goods Market is expected to
experience significant growth during the
forecast period of 2024-2028, according to their
report titled "Oil Country Tubular Goods Market -
Global Industry Size, Share, Trends,
Opportunity, and Forecast, 2018-2028F." The
driving force behind the increased demand for
oil country tubular goods and the expansion of
the global market is successful energy
production and consumption. The expansion of
drilling and production operations, the rise of
shale gas exploration, and the increase in the
number of oil wells per rig are the key
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factors driving the global market for oil country
tubular goods. Moreover, there is a surge in
investment in unconventional oil and gas sources
that is significantly contributing to the need
for oil country tubular goods. The production of
oil and gas is a crucial element of global
economic expansion. Hydrocarbons are widely used
in various industrial sectors, including
transportation, power generation, production,
and process, among others. The growth in oil and
gas demand has led to an increase in exploration
and production activities, which continue to
receive funding from governments and well-known
hydrocarbon producers worldwide. The extraction
of hydrocarbons requires drilling, and drilling
activities require the use of OCTG. Oil country
tubular goods are a collection of various steel
tubular items, such as well casing, production
tubing, and drill pipe, that are used to conduct
drilling without interruption. Tubular pipes
come in a variety of grades and diameters and
can be either seamless or welded. The well
casing is the structural component of the well
that maintains the well's stability and
integrity throughout drilling, preventing it
from collapsing. Various casings, such as
conductor, surface, and production casings, are
used based on the borehole's characteristics.
Casing is necessary during drilling to prevent
groundwater pollution. Production tubing, on the
other hand, is a hollow pipe used to transfer
hydrocarbons to the surface.
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North America is expected to have a significant
impact on the global tubular goods market due to
the increasing number of drilling activities in
the U.S. and Canada. Exploration and production
operations have consistently grown due to
supportive government regulations and a favorable
corporate climate. The American shale revolution
presents a significant opportunity for
leveraging drilling operations. The United
States will eventually become a net exporter of
natural gas due to increased shale gas
production. The rising global demand for oil and
gas stimulates exploration and production
activity in the United States, hence contributing
to the market demand. Browse over XX market data
Figures spread through 110 Pages and an in-depth
TOC on "Global Oil Country Tubular Goods
Market."- https//www.techsciresearch.com/report/
oil-country- tubular-goods-market/4721.html The
Global Oil Country Tubular Goods Market comprises
segments such as manufacturing process, grade,
product, application, region, and competitive
landscape. The market is categorized into API
Grade and Premium Grade, based on grade. In
terms of manufacturing process, the market is
divided into Electric Resistance Welded and
Seamless segments. Seamless pipes are preferred
over welded ones because of their ability to
maintain homogeneity in shape and withstand high
pressure without cracking. In the Gulf
Cooperation Council region, as of 2019, seamless
pipes were
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• responsible for 90 of OCTG utilization because
  of their suitability for sour gas resources.
• Based on product, the market is segmented into
  Well Casing, Production Tubing, Drill Pipe, and
  Others. Well casing is an essential component of
  drilling, preventing groundwater pollution and
  providing stability for continuous drilling
  operations. It also supports the well's wall to
  prevent the well shaft from collapsing due to
  unconsolidated sand or rock pieces that have
  penetrated the well. Casing plays a critical
  role in safeguarding the submersible pump's water
  tubing, pull cable, and electrical wires,
  contributing to the expected growth of the well
  casing segment.
• The market is divided into Onshore and Offshore
  segments based on application. Onshore
  applications are the most common due to their
  ease of transportation, relative cost-
  effectiveness, and accessibility of competent
  personnel.
• Major market players in the Global Oil Country
  Tubular Goods Market are -
• MRC Global Inc.
• JFE Steel Corporation
• TMK Ipsco Enterprise Inc
• National Oil Well Varco Inc
• Tenaris SA
• Jindal SAW Ltd
• Arcelor Mittal S.A.

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• Nippon Steel
• Vallourec S.A.
• S. Steel Tubular Products Inc.
• Download Sample Report
• Customers can also request for 10 free
  customization on this report.
• As production activities in the oil and gas
  industry expand, so does the need for oil
  country tubular goods are rising, which is
  driving the market growth. Additionally, the
  market for oil country tubular goods is
  primarily driven by a growth in shale reserves,
  technological advancements that have increased
  horizontal and directional drilling, and an
  increase in production and exploration
  operations, all factors are propelling the
  market growth in the forecast period. said Mr.
  Karan Chechi, Research Director with TechSci
  Research, a research-based global management
  consulting firm.
• Oil Country Tubular Goods Market Global
  Industry Size, Share, Trends, Opportunity, and
  Forecast, 2018-
• 2028, Segmented By Manufacturing Process
  (Electric Resistance Welded, Seamless), By Grade
  (API Grade, Premium Grade), By Product (Well
  Casing, Production Tubing, Drill Pipe, Others),
  By Application (Onshore, Offshore), By Region,
  has evaluated the future growth potential of
  Global Oil Country Tubular Goods Market and
  provides statistics information on market size,
  structure, and future market growth. The report
  intends to provide cutting-edge market
  intelligence and help decision makers

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take sound investment decisions. Besides the
report also identifies and analyzes the emerging
trends along with essential drivers, challenges,
and opportunities in Global Oil Country Tubular
Goods Market. Download Sample Report-
https//www.techsciresearch.com/sample-
report.aspx?cid4721 About TechSci
Research TechSci Research is a research-based
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