DUBLIN--(BUSINESS WIRE)--The "Global OCTG (Oil Country Tubular Goods) Market: Industry Analysis & Outlook (2018-2022)" report has been added to ResearchAndMarkets.com's offering.
The report provides an in-depth analysis of the OCTG market on a global scale along with the US and Russia market. The major trends, growth drivers as well as issues being faced by the industry are being presented in this report.
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. Moreover, technological advances and rapid economic development in the developing countries are some of the other vital factors that have been guiding the demand for energy. This has propelled the market growth of OCTG over the years.
The key factors driving the growth of OCTG market are increasing demand for oil & gas, accelerating economic growth, rising energy consumption, growing shale oil production and increasing investment in offshore drilling exploration activities. The noteworthy trends that can be witnessed in this industry is accelerating rig count and upsurge in footage of wells drilled. However, the expansion of the market is hindered by the challenges such as depletion of oil and gas reserves, volatile crude oil prices, environmental issues and the international political and economic instability.
Key Topics Covered:
1. OCTG Market - An Overview
2. Global OCTG Market
3. Regional Market Analysis
4. Market Dynamics
5. Competitive Landscape
6. Company Profiles
- Nippon Steel & Sumitomo Metal
- Tenaris S.A.
For more information about this report visit https://www.researchandmarkets.com/research/n4wdwc/global_octg_oil?w=4