London, UK (PRWEB) July 14, 2014
Oil country tubular goods (OCTG) are key components in oil and gas production from the reservoir. The appropriately selected OCTG can hurt the chances of various hazards, minimise risks, as well as save expenses. The ever-growing oil & gas exploration and production activities worldwide, growth in the proven shale reserves, and also burgeoning investments from oil and gas companies are among the major growth drivers of the oil country tubular goods (OCTG) market. The trend will likely continue due to the present-day upsurge in shale gas exploration activities and offshore activities. From 2014 to 2019, the worldwide OCTG market is anticipated to grow at a CAGR of over 7% to reach a value of nearly USD 59 billion by the end of 2019. Though, issues related to the cyclical nature of the tubes business and focus on renewable energy sources will slightly impact the growth of the OCTG sector. With vigorously intensifying competition and increase in environmental safety concerns, the companies have commenced with the differentiation of their products for the market, which will result in the market seeing a higher growth rate in the demand for premium product type like OCTG. The combined revenue share of the three leading OCTG market players was over 71% of the market as of 2012.
Geography-wise, APAC and North America make up the biggest markets that showed rapid growth over the past ten years; and these two regions will likely keep on dominating going forward. The Chinese and US markets are dominating on a country-level, and they are expected to drive the global OCTG market in the future. The South American market is forecast to witness the highest CAGR; while Europe and Africa will also evolve with a decent growth rate through to 2019.
In-demand research report “Oil Country Tubular Goods Market by Grade (API, Premium), by Product (Seamless, ERW), & by Geography (North America, South America, Europe, Asia-Pacific, Africa, and Middle East) - Global Trends & Forecast to 2019” elaborated by MarketsandMarkets (M&M) is now available at MarketPublishers.com.
Title: Oil Country Tubular Goods Market by Grade (API, Premium), by Product (Seamless, ERW), & by Geography (North America, South America, Europe, Asia-Pacific, Africa, and Middle East) - Global Trends & Forecast to 2019
Published: June, 2014
Price: US$ 4,650.00
The report gives a deep overview of the global OCTG market, analysing and classifying it based on grade, product type, and geography. It limelights a variety of major industrial issues and market impulse factors; describes the market dynamics covering market restraints & drivers, opportunities, winning imperatives and hot industry issues. Porter’s five forces analysis is at hand as well. To provide a closer understanding of the competitive scenario, the research report presents granular profiles of the leading oil country tubular goods producers, including an analysis of the top players’ market share, by revenue. The study also contains a forecast the world OCTG market up to 2019.
Companies profiled include: Tenaris SA, Vallourec, TMK Group, United States Steel Corporation, Nippon Steel and Sumitomo Metal Corporation, National Oilwell Varco, MRC Global, Jindal SAW Ltd., JFE Steel Corporation, and Arcelormittal.
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