DUBLIN--(BUSINESS WIRE)--The "Global Oil Country Tubular Goods (OCTG) Market - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The oil & gas exploration and production (E&P) activities are complicated processes, and require sophisticated technology and equipment. The oil & gas industry is a highly volatile and cyclical market. The fall in commodity prices had a ripple effect on the oil & gas value chain. Over several decades the oil & gas industry has looked to active drilling rig count creating demand for oilfield services, globally. The decline in oil prices and drilling activity has decreased the OCTG demand from USD 22 billion, in 2014 to USD 14 billion, in 2016.
Although factors, such as high initial investment and lack of skilled labour have always been hinderance the development of all verticals of the oil & gas industry, the push of increasing energy demand is making oil and gas exploration and production more attractive to investment.
There has been a drastic decrease in the rig count globally since 2014, and this fall has reflected in the demand for oilfield services, in the last few years. North America still has the most number of rigs globally, followed by the Middle East. Latin America takes the third spot. With padbased horizontal drilling in the United States becoming more in demand, the onshore rig count in North America has become less meaningful.
- National-Oilwell Varco Inc.
- ILJIN STEEL CO.
- Nippon Steel & Sumitomo Metal Corporation
- TPCO Enterprise Inc.
- Tenaris SA
- TMK Ipsco Enterprises Inc.
- U. S. Steel Tubular Products Inc.
- Vallourec SA
- ArcelorMittal SA
Key Topics Covered:
1. Executive Summary
2. Research Methodology
3. Market Overview
4. Market Dynamics
5. Supply Chain Analysis
6. Porter's Five Forces Analysis
7. Market Segmentation and Analysis
8. Regional Market Analysis
9. Key Company Profiles
10. Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/research/t5jzv4/global_oil?w=4