Global OCTG (Oil Country Tubular Goods) Market: Insights & Forecast with Potential Impact of COVID-19 (2020-2024)

Global OCTG (Oil Country Tubular Goods) Market: Insights & Forecast with Potential Impact of COVID-19 (2020-2024)

The global OCTG market is expected to record a value of US$22.52 billion in 2024, increasing at a CAGR of 5.40%, for the duration spanning 2020-2024. The factors such as growing oil demand, growth in hydraulic fracturing activities, rising energy consumption, escalating investment on offshore drilling activities, accelerating economic growth and technological innovations in the drilling techniques would drive the growth of the market. However, the market growth would be challenged by the rising brent oil prices and environmental issues. A few notable trends may include, rise in horizontal directional drilling for oil & gas excavation, increasing R&D spending in energy sector and growth in the footage of well drilled.

The global OCTG industry has been very lucrative over a past few years due to the consistent increase in the exploration and production activities of oil & gas. The market has been segmented into seamless and welded, on the basis of process. The seamless OCTG dominated the market due to their increased ability to withstand high pressure, high temperature, higher mechanical stress and corrosive atmosphere. However, welded OCTG have also shown steady growth in the global market due the cost-effective factor.

The fastest growing regional market was North America, due to the increased production of oil and gas. In addition, technological advancements in exploration activities have also led to the increased demand for high-end tubular & casting product in the region. However, the sudden outbreak of COVID-19 is expected to cause a severe disruption in the global economy, which would lead to the decline in the exploration and production of oil & gas and thereby would unfavourably affect the growth of the OCTG market in the initial stage of the forecasted period.

Scope of the report:

The report provides a comprehensive analysis of the global OCTG (oil country tubular goods) market.

The major regional markets (North America, Asia Pacific, Europe, Middle East & Africa and South America) have been analyzed.

The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.

The competitive landscape of the market, along with the company profiles of leading players (United Sates Steel, National Oilwell Varco, Tenaris S.A., PAO TMK, Vallourec and MRC Global) are also presented in detail.

Key Target Audience:

OCTG manufacturers

Raw Material Suppliers

Potential Audience (Oil & gas Producing Companies)

Investment Banks

Government Bodies & Regulating Authorities


1. Market Overview
1.1 An Introduction
Table 1: OCTG Product Types
1.2 OCTG Product Types
1.3 OCTG Pipe Classification
Table 2: Classifications of OCTG Pipe
1.4 OCTG Pipe Comparison
1.5 OCTG Manufacturing Process
Table 3: OCTG Manufacturing Process
2. Impact of COVID-19
2.1 Downfall in the Global Economy
Table 4: Global GDP Growth Rate (2010-2020)
2.2 Decline in the International Trade
Table 5: Global Merchandise Trade Volume (2018-2021)
2.3 Fall in the Rig Count
Table 6: The U.S. Total Rig Count (2015-2021)
2.4 Regional Impact
3. Global OCTG Market
3.1 Global OCTG Market by Value
Table 7: Global OCTG Market by Value (2015-2019)
3.2 Global OCTG Market Forecast by Value
Table 8: Global OCTG Market Forecast by Value (2020-2024)
3.3 Global OCTG Market Value by Process
Table 9: Global OCTG Market Value by Process (2019)
3.3.1 Global Seamless OCTG Market by Value
Table 10: Global Seamless OCTG market by Value (2015-2019)
3.3.2 Global Seamless OCTG Market Forecast by Value
Table 11: Global Seamless OCTG Market Forecast by Value (2020-2024)
3.3.3 Global Welded OCTG Market by Value
Table 12: Global Welded OCTG market by Value (2015-2019)
3.3.4 Global Welded OCTG Market Forecast by Value
Table 13: Global Welded OCTG Market Forecast by Value (2020-2024)
3.4 Global OCTG Market Value by Grade
Table 14: Global OCTG Market Value by Grade (2019)
3.4.1 Global Premium Grade OCTG Market by Value
Table 15: Global Premium Grade OCTG market by Value (2015-2019)
3.4.2 Global Premium Grade OCTG Market Forecast by Value
Table 16: Global Premium Grade OCTG Market Forecast by Value (2020-2024)
3.4.3 Global API Grade OCTG Market by Value
Table 17: Global API OCTG market by Value (2015-2019)
3.4.4 Global API Grade OCTG Market Forecast by Value
Table 18: Global API OCTG Market Forecast by Value (2020-2024)
3.5 Global OCTG Market Value by Products
Table 19: Global OCTG Market Value by Products (2019)
3.5.1 Global Well Casting Market by Value
Table 20: Global Well Casting market by Value (2015-2019)
3.5.2 Global Well Casting Market Forecast by Value
Table 21: Global Well Casting Market Forecast by Value (2020-2024)
3.5.3 Global Drill Pipe Market by Value
Table 22: Global Drill Pipe market by Value (2015-2019)
3.5.4 Global Drill Pipe Market Forecast by Value
Table 23: Global Drill Pipe Market Forecast by Value (2020-2024)
3.5.5 Global Production Tubes Market by Value
Table 24: Global Production Tubes market by Value (2015-2019)
3.5.6 Global Production Tubes Market Forecast by Value
Table 25: Global Production Tubes Market Forecast by Value (2020-2024)
3.6 Global OCTG Market Value by Regions
Table 26: Global OCTG Market Value by Regions (2019)
3.7 Global OCTG Demand Volume
Table 27: Global OCTG Demand Volume (2015-2019)
3.8 Global OCTG Demand Volume Forecast
Table 28: Global OCTG Demand Volume Forecast (2020-2024)
3.9 Global OCTG Demand Volume by Region
Table 29: Global OCTG Demand Volume by Region (2019)
3.10 Global Seamless OCTG Production and Capacity Volume
Table 30: Global Seamless OCTG Production and Capacity Volume (2015-2019)
3.11 Global Seamless OCTG Production and Capacity Volume Forecast
Table 31: Global Seamless OCTG Production and Capacity Volume Forecast (2020-2024)
4. Regional OCTG Market
4.1 North America
4.1.1 North America Global OCTG Market by Value
Table 32: North America OCTG Market by Value (2015-2019)
4.1.2 North America OCTG Market Forecast by Value
Table 33: North America OCTG Market Forecast by Value (2020-2024)
4.1.3 The U.S. OCTG Demand Volume
Table 34: The U.S. OCTG Demand Volume (2015-2019)
4.1.4 The U.S. OCTG Demand Volume Forecast
Table 35: The U.S. OCTG Demand Volume Forecast (2020-2024)
4.1.5 The U.S. OCTG Demand Volume by Products
Table 36: The U.S. OCTG Demand Volume by Products (2019)
4.1.6 The U.S. Seamless & Welded OCTG Demand Volume
Table 37: The U.S. Seamless & Welded OCTG Demand Volume (2015-2019)
4.1.7 The U.S. Seamless & Welded OCTG Demand Volume Forecast
Table 38: The U.S. Seamless & Welded OCTG Demand Volume Forecast (2020-2024)
4.1.8 The U.S. OCTG Production Volume
Table 39: The U.S. OCTG Production Volume (2014-2018)
4.1.9 The U.S. OCTG Production Volume Forecast
Table 40: The U.S. OCTG Production Volume Forecast (2019-2023)
4.1.10 The U.S. OCTG Exports Volume
Table 41: The U.S. OCTG Exports Volume (2014-2018)
4.1.11 The U.S. OCTG Imports Volume
Table 42: The U.S. OCTG Imports Volume (2014-2018)
4.1.12 The U.S. OCTG Imports by Region
Table 43: The U.S. OCTG Imports by Region (2019)
4.2 Asia Pacific
4.2.1 Asia Pacific OCTG Market by Value
Table 44: Asia Pacific OCTG Market by Value (2015-2019)
4.2.2 Asia Pacific OCTG Market Forecast by Value
Table 45: Asia Pacific OCTG Market Forecast by Value (2020-2024)
4.3 Europe
4.3.1 Europe OCTG Market by Value
Table 46: Europe OCTG Market by Value (2015-2019)
4.3.2 Europe OCTG Market Forecast by Value
Table 47: Europe OCTG Market Forecast by Value (2020-2024)
4.4 Middle East & Africa
4.4.1 Middle East & Africa OCTG Market by Value
Table 48: Middle East & Africa OCTG Market by Value (2015-2019)
4.4.2 Middle East & Africa OCTG Market Forecast by Value
Table 49: Middle East & Africa OCTG Market Forecast by Value (2020-2024)
4.5 South America
4.5.1 South America OCTG Market by Value
Table 50: South America OCTG Market by Value (2015-2019)
4.5.2 South America OCTG Market Forecast by Value
Table 51: South America OCTG Market Forecast by Value (2020-2024)
5. Market Dynamics
5.1 Growth Drivers
5.1.1 Growing Oil Demand
Table 52: Global Oil Demand (2015-2019)
5.1.2 Growth in Hydraulic Fracturing Activities
Table 53: Global Hydraulic Fracturing Market (2015-2019)
5.1.3 Rising Energy Consumption
Table 54: Global Energy Consumption (1990-2040)
5.1.4 Escalating Investment in Offshore Drilling Activities
Table 55: Global Offshore Drilling Market Value Forecast (2018-2022)
5.1.5 Accelerating Economic Growth
Table 56: Global Gross Domestic Product (GDP) per Capita (2014-2018)
5.1.6 Technological Innovation in Drilling Techniques
5.2 Key Trends and Developments
5.2.1 Rise in Horizontal Directional Drilling for Oil & Gas Excavation
Table 57: Global Horizontal Directional Drilling Services by End-Use (2019)
5.2.2 Increasing R&D Spending in Energy Sector
Table 58: Global Corporate R&D Spending in Energy Sector (2015-2019)
5.2.3 Growth in Footage of Wells Drilled
Table 59: The U.S. Annual Footage Drilled, by Type (2019-2024)
5.3 Challenges
5.3.1 Rising Brent Oil Prices
Table 60: The U.S. Brent Oil Price (2015-2019)
5.3.2 Environmental Issues
6. Competitive Landscape
6.1 Global OCTG Market
6.1.1 Key Players – Revenue Comparison
Table 61: Key Players – Revenue Comparison (2019)
6.1.2 Key Players – Market Cap Comparison
Table 62: Key Players – Market Cap Comparison (2020)
6.1.3 Key Players – Premium OCTG Market Share Comparison
Table 63: Key Players – Premium OCTG Market Share Comparison (2019)6.2 The U.S. OCTG Market
6.2.1 Key Players – Market Share Comparison
Table 64: Key Players – US OCTG Market Share Comparison (2019)
6.3 Russia OCTG Market
6.3.1 Key Players – Market Share Comparison
Table 65: Key Players – Russia OCTG Market Share Comparison (2019)
7. Company Profiles
7.1 United States Steel Corporation
7.1.1 Business Overview
7.1.2 Financial Overview
Table 66: United States Steel Corporation Net Sales and Loss/Income (2015-2019)
Table 67: United States Steel Corporation Net Sales by Segments (2019)
Table 68: United States Steel Corporation Net Sales by Regions (2019)
7.1.3 Business Strategies
7.2 National Oilwell Varco
7.2.1 Business Overview
7.2.2 Financial Overview
Table 69: National Oilwell Varco Revenue and Net Loss (2015-2019)
Table 70: National Oilwell Varco Revenue by Segment (2019)
Table 71: National Oilwell Varco Revenue by Regions (2019)
7.2.3 Business Strategies
7.3 Tenaris S.A.
7.3.1 Business Overview
7.3.2 Financial Overview
Table 72: Tenaris Net Sales and Income (Loss) (2015-2019)
Table 73: Tenaris Net Sales by Segments (2019)
Table 74: Tenaris Net Sales by Regions (2019)
7.3.3 Business Strategies
7.4 PAO Trubnaya Metallurgicheskaya Kompaniya
7.4.1 Business Overview
7.4.2 Financial Overview
Table 75: PAO TMK Revenue and Profit (Loss) (2015-2019)
Table 76: PAO TMK Revenue by Regions (2019)
7.4.3 Business Strategies
7.5 Vallourec S.A.
7.5.1 Business Overview
7.5.2 Financial Overview
Table 77: Vallourec Revenue and Net Loss (2015-2019)
Table 78: Vallourec Revenue by Market (2019)
Table 79: Vallourec Revenue by Regions (2019)
7.5.3 Business Strategies
7.6 MRC Global
7.6.1 Business Overview
7.6.2 Financial Overview
Table 80: MRC Global Sales and Net Income (2015-2019)
Table 81: MRC Global Sales by Sectors (2019)
Table 82: MRC Global Sales by Regions (2019)
7.6.3 Business Strategies

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