Global OCTG (Oil Country Tubular Goods) Market Research Report forecast 2019-2023
Summary - A
new market study, titled “Global OCTG (Oil Country
Tubular Goods) Market: Industry Analysis & Outlook (2019-2023)” has been
featured on Wise Guy Reports.
Oil Country Tubular Goods
(OCTG) comprises of a wide range of steel tubular products that are used in oil
and gas exploration and production and in particular drilling. They can be
Seamless and Welded Pipes (Electric Resistance Welding (EWR) and come in
various sizes and length.
The process of manufacturing of seamless and welded pipes
and tubes is different with the seamless pipes designed to bear much higher
stress. OCTG generally includes three categories of products - drill pipe,
casing, and tubing.
The OCTG market is a highly competitive sector and with the
upsurge in the number of drilling and exploration activities in unconventional
reserves, the competition has progressed to a higher level.
The global market is expected to witness a lucrative growth
due to growing oil demand, rising energy consumption, escalating investment in
offshore drilling activities and accelerating economic growth. The market is
trending with the propelling rig count and growth in footage of wells drilled.
However, there are some growth hindering factors in the market including rising
brent oil prices and environmental issues.
Regionally, the U.S. is expected to hold the leading
position in the market, due to the ramping up research & development
expenditures by the steel producers & supportive government policies in the
form of subsidies that have been the key reasons that have contributed to this
growth.
“Global OCTG (Oil Country Tubular Goods) Market: Industry
Analysis & Outlook (2019-2023)” by Koncept Analytics provides an extensive
research and detailed analysis of the present market along with future outlook.
Key players i.e. Tenaris S.A., PAO Trubnaya Metallurgicheskaya Kompaniya,
Vallourec S.A. and United States Steel Corporation are being profiled along
with their respective financials and growth strategies.
FOR MORE DETAILS: https://www.wiseguyreports.com/reports/3944003-global-octg-oil-country-tubular-goods-market-industry-analysis-outlook-2019-2023
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