Dallas, Texas (PRWEB) January 02, 2015
As per the report “OCTG Market: 2014 Edition” the demand for OCTG market will be driven by economic growth, growth in crude oil prices and lack of alternative sources of energy. Some of the noteworthy trends of this industry include global rig count growth, global E&P spending and rising capital expenditure from E&P companies to boost OCTG demand in Russia, among others. Sustained high oil prices and sanctioning of major projects are driving the global exploration and production (E&P) spending. This growth has been witnessed all across the globe, as almost every country with hydrocarbons to exploit is experiencing growth in E&P.
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The growth in crude oil prices plays a significant role in Global OCTG Market. The prices of crude oil have recorded a notable growth over the last few years mainly in response to the strong global demand, limited spare oil production capacity and continuing political instability in certain oil producing regions.This growth provides an incentive to oil and gas companies to increase drilling operations and increase their investments in production and exploration activities. This, in turn, will add to the demand for oil country tubular goods throughout the oil and gas industry.
The demand for oil and gas is increasing at a significant rate due to industrialization, particularly in emerging markets as industrialization calls for increased energy consumption. Growing wealth of the residents of emerging markets, especially China and India, is also reflecting in their spending pattern in which they are buying cars which again requires notable amount of energy. The demand for oil has increased at a steady pace during the period of 2004 to 2007; however, it declined in 2008 and 2009 due to global economic recession. In 2010, global demand for oil and gas again picked up and has been increasing since then primarily due to the economic development of Asian and other major non-OECD nations.
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This report presents an exhaustive study of the global OCTG market. It also encompasses detailed description of a number of factors driving the growth of the industry coupled with recent trends and challenges hindering the growth of the industry. The company profile section of the report covers detailed description of the players operating in the aforementioned industry. The report also includes in-depth analysis of fierce competition among the major players on a number of parameters. By deploying SPSS Inc.’s data integration and analysis capabilities, future growth prediction in terms of volume of the global OCTG market has also been analyzed in the report.
Major points from Table of Contents (http://www.marketreportsonline.com/391894-toc.html) are listed below:
List of Tables
US OCTG Supply Model
US OCTG Demand Model
Evolution of Rig Count by Region (2007-2013)
Global E&P Capital Spending by Region (2013-2014E)
Seamless Pipe Industry Capacity Development (2011-2013)
Dependent & Independent Variables (2007-2013)
Model Summary – Coefficient of Determination
Regression Coefficients Output
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