Key Players - Tenaris (Luxembourg), Vallourec (France), TMK group (Russia), United States Steel Corporation (U.S.), and Nippon Steel and Sumitomo Metal Corporation (Japan)
(PRWEB) October 11, 2014
The report “Oil Country Tubular Goods Market by Grade, Product and Geography - Global Trends & Forecast to 2019”, defines and segments the global oil country tubular goods market with analysis and forecasts of the global revenue. The demand for OCTG is driven by high exploration and production activities, growth in the proven shale reserves, and escalating investments from the oil and gas operators. The trend is set to continue with the current surge in offshore activities and shale reserve exploratory activities.
The global Oil Country Tubular Goods market is likely to witness a CAGR of over 7% from 2014 to 2019. Asia Pacific represents the largest market, followed by North America. The emerging markets include South America and Europe with increase in the number of exploration and production activities.
Browse more than 93 market data tables with 48 figures spread through 362 pages and in-depth TOC on "Oil Country Tubular Goods Market Global Trends & Forecast to 2019"
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The increase in demand for energy drives the need for exploration activities and investments which further leads to the demand of OCTG, which is the major unit of infrastructure for the production of the oil and gas from the reserves.
Asia-Pacific is the largest market and China held the maximum share in demand of OCTG products. Globally, China was the biggest market and contributed to half of the share for demand of API OCTG in Asia-Pacific, by market size in 2013. After China, the North American market was the most influential market with U.S. being the epicenter of OCTG demand due to the abundant shale reserve, which drives the demand for directional and horizontal drilling.
The OCTG market includes few dominant global players. The key players include Tenaris (Luxembourg), Vallourec (France), TMK group (Russia), United States Steel Corporation (U.S.), Nippon Steel and Sumitomo Metal Corporation (Japan). The top three players that include the above accounted for more than two-thirds of the market in 2012 by revenue, while the top five players accounted for about 80% share.
The report analyzes and projects the oil country tubular goods market by grade, product type, and geography. The OCTG market, by grade type, includes premium and API grades. By product type, the report includes seamless and ERW, while the market by geography includes Asia-Pacific, Europe, Africa, the Middle East, North America, and South America. Furthermore the demand of OCTG according to the major countries in the above region is also presented in the report.
This report also includes market share, supply chain and value chain analyses, Porters Five Force Analysis, and market metrics such as drivers, restraints, burning issues, winning imperative, and opportunities. In addition, it presents a competitive landscape and company profiles of 10 key players in the market that include major companies which manufacture oil country tubular goods.
Tenaris SA (Luxembourg) is the market leader with around one-third of the total market share across the globe. It operates in the OCTG market through its tubes segment, which is involved in the production and sale of both seamless and welded steel tubular products and related services catering to the needs of the oil and gas industry. Its principal products include casing, tubing, line pipe, and mechanical and structural pipes.
Tenaris SA has a strong global presence with manufacturing facilities and service centers in more than 20 countries across the globe. The company has a stable financial structure to carry out mergers and acquisitions in the market. It offers a wide variety of products and services in the oil country tubular goods market, thus, maintaining its position as a market leader. The company has employed strategies such as pursuing strategic investment opportunities, expand its range of products and develop new high-value products, secure production inputs along with reducing manufacturing costs, and diversifying its offerings to include technical and pipe management services.
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