According to a market report by Lucintel, the future of the global oil country tabular goods market looks promising with opportunities in the well casing, production tubing, drill pipe, and others markets. The global oil country tabular goods market is expected to reach an estimated $33 billion by 2030 from $22.3 billion in 2023 at a CAGR of 6% from 2024 to 2030. The major drivers for this market are increased exploration and production activities, particularly in unconventional reserves like shale, drive the demand for octg products., growing global energy consumption necessitates increased oil and gas production, boosting the demand for OCTG, and stringent regulations regarding well integrity and safety standards in the oil and gas industry lead to higher demand for high-quality OCTG products.
In this market, seamless and welded are the major segments of oil country tabular goods market by type.
Lucintel forecasts that will remain larger segment over the forecast period due to seamless.
Within this market, well casing will remain the largest segment.
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North America will remain the largest region over the forecast period.
Tenaris, TMK, Vallourec, United States Steel Corporation, National Oil Well Varco, Sumitomo Corporation, and JEE Steel Corporation are the major suppliers in the oil country tabular goods market.
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Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: [email protected]
Tel. +1 972.636.5056
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