Summary

The global Oil Country Tubular Goods market size was valued at $20.9 billion in 2020, and projected to reach $37.5 billion by 2030, with a CAGR of 6.5% from 2021 to 2030.
Oil Country Tubular Goods mainly refer to the piping products that are applied in the oil and gas production. OCTG pipe normally is manufactured based on API and premium standard specifications. It is also taken as a collective name for Drill pipe, Steel Casing pipe & Tubing Pipe, Coupling, Connection and Accessories used in petroleum industries that are present onshore and offshore. Under the API specifications, OCTG oil and gas pipe is graded in more than ten different grades, depending on their performance and the materials used. Casing pipe is used for lining the borehole, which has been dug into the ground for procuring oil or gas and stabilizing it. Tubing pipe is a pipe that is placed inside the wellbore through the casing and is responsible for the transportation of hydrocarbons to the surface. Tubing pipe is used for transporting natural gas or crude oil after drilling is complete. It transports gas and oil to the facilities for further processing. Line pipe is a very strong carbon steel pipe which is used for the transportation of various petroleum products, natural gas, oil, and water.
The impact of COVID-19 on the oil and gas industry and the shutdown of the transportation system across the globe had a great impact on the global Oil Country Tubular Goods market. The Oil Country Tubular Goods have wide range of applications in the oil and gas service firms. The increase in demand for energy, depletion of resources across the globe, and government initiatives to reduce the import of hydrocarbons after the outbreak of pandemic are expected to increase demand for Oil Country Tubular Goods in coming years.
The increase in the oil rig count, drilling & production operations, increased demand for high-end pipes, as well as the innovation of technically sophisticated pipes in order to reduce the risk of accidents and improved efficiency are anticipated to drive the development of the oil country tubular goods market. The surge in the investment of the government and private firms to develop oil and gas fields has fueled the development of the market in the forecast period.
The major factors that hamper the development of the Oil Country Tubular Goods are mainly due to the technology ban from developed countries on the developing countries and the government initiative to protect local OCTG manufacturers & increase the GDP of the country. The rapid innovation and development of technology to improve the efficiency of extraction & transportation of oil & gas is expected to provide lucrative opportunities for the growth of the global Oil Country Tubular Goods market.
The Oil Country Tubular Goods market is segmented on the basis of manufacturing process, product, application, grade, and region.
On the basis of manufacturing process, the global Oil Country Tubular Goods market is segmented into Electric Resistance Welded and Seamless. On the basis of product, the market is segmented into well casing, product tubing, drill pipe, and others. On the basis of application, the global Oil Country Tubular Goods market is segmented into onshore and offshore. On the basis of grade, it is segmented into API grade and Premium grade.

Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, North America accounts for the largest share of the market, followed by Asia-Pacific and Europe.
The major companies profiled in this report include ArcelorMittal SA, EVRAZ North America, ILJIN Steel Corporation, JFE Steel Corporation. National-Oilwell Varco Inc, Oil Country Tubular Limited, Sumitomo Corporation, Tenaris, TMK Ipsco Enterprises Inc., and U.S. Steel Corporation. Rapid industrialization and modernization have led to increase in the demand for energy resources and chemical raw materials, which in-turn have fueled the demand for Oil Country Tubular Goods. Additional growth strategies such as expansion of production capacities, acquisition, partnership, and joint venture in the development of the high quality OCTG products from manufacturers have helped to attain key developments in the global Oil Country Tubular Goods market trends.
In addition to the above mentioned companies, TPCO Inc., Vallourec SA, Continental Alloys, Anhui Tianda Oil Pipe Company, and others also compete for the share of the market through partnership, acquisition, and expansion of the production capabilities to meet the future demand for Oil Country Tubular Goods during the forecast period.


KEY MARKET SEGMENTS
By Manufacturing Process
• Electric Resistance Welded (ERW)
• Seamless
By Product
• Well Casing
• Product tubing
• Drill Pipe
• Others (Line Pipe)
By Application
• Onshore
• Offshore
By Grade
• API Grade
• Premium Grade
By Region
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o Spain
o UK
o Rest of Europe
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Rest of Asia-Pacific
• LAMEA
o Brazil
o Saudi Arabia
o South Africa
o Rest of LAMEA

Key players in the global flexible solar panels market are:
1. ArcelorMittal SA
2. EVRAZ North America
3. ILJIN Steel Corporation
4. JFE Steel Corporation.
5. National-Oilwell Varco Inc
6. Oil Country Tubular Limited
7. Sumitomo Corporation
8. Tenaris
9. TMK Ipsco Enterprises Inc.
10. U.S. Steel Corporation