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Global OCTG (Oil Country Tubular Goods) Market Report: 2016 Edition

Global OCTG (Oil Country Tubular Goods) Market Report: 2016 Edition

The oil country tubular goods (OCTG) sector involves companies whose work is to make steel products to be used while drilling oil and gas wells. These are hollow steel products of circular cross-section used in the oil and gas industry for exploration and production activities. OCTG includes generally three categories of products - drill pipe, casing, and tubing. OCTG products can be manufactured as seamless or welded tubes and pipes. The OCTG manufacturers can generally either produce seamless or welded OCTG products and not both, as the capital investment to manufacture seamless OCTG is quite high in comparison to the investment required in manufacturing welded OCTG.

The key factors which are anticipated to drive OCTG market include increasing global demand for oil and gas, economic growth, investment growth in offshore exploration activities and no substitute sources present for the present forms of energy. The industry is facing a decline in demand because of the falling oil prices and the decline in global rig count. The regions undergoing rapid industrialization process in the developed countries like China, India and Gulf nations have shown positive signs but the market will take time to bounce back on a positive note. Some of the significant developments of this industry include fluctuating rig count growth, increasing global E&P spending, and increasing global steel demand. However, the growth of the industry is hindered by the falling crude oil and steel prices, depletion of energy reserves and effect on the environment.

This report offers a comprehensive analysis of the global OCTG market. Furthermore, market dynamics such as key trends and development; and challenges are analyzed in depth. On the contention front, the global OCTG market is reined by few major players namely, Tenaris S.A., Vallourec, OAO TMK and Nippon Steel and Sumitomo Metal Corporation. The competitive landscape of the respective market, along with the company profiles of the leading players are also discussed in detail.

By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the market. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.


1. Market Overview
1.1 OCTG Market: An Introduction
1.2 Types of Oil Country Tubular Goods (OCTG) Pipes
Table 1: Types of OCTG Pipes
1.3 Oil Country Tubular Goods (OCTG) Manufacturing Process
Table 2: OCTG Manufacturing Process
2. OCTG Market Analysis
2.1 Global OCTG Demand
Table 3: Global OCTG Demand (2009-2015E)
Table 4: Premium OCTG Consumption by Application (2014)
Table 5: Global Drilling Activity by Region (2014)
Table 6: Premium/API Demand Split by Region (2014)
2.2 Global OCTG Demand – Shales vs. Others
Table 7: OCTG Demand – Shales vs. Others (2010-2014)
2.2.1 Global Deep Water OCTG Consumption
Table 8: Global Deep Water OCTG Consumption (2011-2015E)
2.2.2 Global Seamless OCTG Market
Table 9: Global Seamless OCTG Market (2007-2018E)
Table 10: Global Seamless OCTG Demand- API vs. Premium (2007-2018E)
3. The US OCTG Market
3.1 The US Rig Count
Table 11: The US Rig Count (2009-2015)
3.2 The US OCTG Consumption
Table 12: The US OCTG Consumption (2010-2014)
3.3 The US OCTG Consumption by Segment
Table 13: The US OCTG Consumption by Segment (2010-2014)
Table 14: Total Footage Drilled in the US (2013-2014)
4. Russian OCTG Market
Table 15: Russian Annual Development Drilling Program (2010-2014)
Table 16: Russian Tube and Pipe Market (2010-2014)
Table 17: Russian Market Share in Various Products (2014)
Table 18: Depth of Wells in Russia (2010-2014)
5. Market Dynamics
5.1 Growth Drivers
5.1.1 Increasing Demand for Oil & Gas
Table 19: Global Oil Demand (2010-2015)
Table 20: Global Oil Supply (2010-2015)
Table 21: Incremental Gas Demand by Sector (2014-2020E)
Table 22: Distribution of Proved Gas Reserves (2014)
5.1.2 Accelerating Economic Growth
Table 23: Global GDP Growth (2008-2014)
5.1.3 Investment Growth in Offshore Drilling Exploration Activities
5.1.4 No Substitute Sources of Energy
5.1.5 Future Global Energy Consumption
Table 24: Global Total Energy Consumption (1990-2040)
5.2 Key Trends
5.2.1 Fluctuating Global Rig Count
Table 25: Global Rig Count (2009-2015)
Table A: Global Rig Count by Region (2009-2015)
5.2.2 Increasing Global E&P Spending
Table 26: Global E&P Capital Spending Growth (2010-2014)
Table B: Global E&P Capital Spending by Region (2013-2014)
5.2.3 Increase in Global Steel Demand
Table 27: Global Steel Demand (2010-2014)
Table 28: The US Steel Consumption by Sector (2014)
Table 29: Global Automobile Production (2009-2014)
5.2.4 COGS and SG&A Breakdown for an Integrated Seamless Producer
Table 30: Breakdown of Cost of Goods Sold For an Integrated Seamless Producer (2014)
Table 31: Breakdown of SG&A For an Integrated Seamless Producer (2014)
5.3 Challenges and Issues
5.3.1 Falling Crude Oil Prices
Table 32: Average Annual Crude Oil Price (2010-2014)
Table 33: Average Annual Gas Price (2010-2014)
Table 34: Retail Price of Regular Gasoline in US (2010-2014)
5.3.2 Falling Steel Prices
Table 35: Declining Steel Prices (2013-2014)
5.3.3 Depletion of Limited Oil and Gas Reserves
5.3.4 Environmental Issues
6. Competitive Landscape
Table 36: Global Premium OCTG Market Share by Company (2014)
Table C: Financial Comparison of Key Players (2014)
7. Company Profiles
7.1 Tenaris S.A.
7.1.1 Business Overview
Table 37: Tenaris S.A Sales by Business Segment (2014)
Table 38: Tenaris S.A. Sales by Region (2014)
Table 39: Tenaris S.A. Employees per Country (2014)
7.1.2 Financial Overview
Table 40: Tenaris S.A. Revenue and Net Income (2010-2014)
7.1.3 Business Strategies
7.2 Vallourec
7.2.1 Business Overview
Table 41: Vallourec Sales by Business Segment (2014)
Table 42: Vallourec Sales by Regional Area (2014)
Table 43: Vallourec Employees per Region (2014)
7.2.2 Financial Overview
Table 44: Vallourec Revenue and Net Income (2010-2014)
7.2.3 Business Strategies
7.3 Nippon Steel & Sumitomo Metal
7.3.1 Business Overview
Table 45: Nippon Steel & Sumitomo Metal Sales by Business Segment (2015)
7.3.2 Financial Overview
Table 46: Nippon Steel & Sumitomo Metal Corporation Revenue and Net Income (2010-2014)
7.3.3 Business Strategies
7.4 OAO TMK
7.4.1 Business Overview
Table 47: OAO TMK Product Range (2014)
Table 48: OAO TMK Sales by Industry (2014)
Table 49: OAO TMK Sales by Geography (2014)
7.4.2 Financial Overview
Table 50: OAO TMK Revenue and Net Income (2010-2014)
7.4.3 Business Strategies
8. Market Outlook
8.1 Market Forecast
Table 51: Global OCTG Demand Forecast (2014-2019E)
8.2 Forecast Methodology
Table D: Dependent & Independent Variables (2010-2015)
8.2.1 Dependent and Independent Variables
8.2.2 Correlation Analysis
Table E: Correlation Matrix
8.2.3 Regression Analysis
Table F: Model Summary – Coefficient of Determination
Table G: Regression Coefficients Output

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