Asia Pacific Oil Country Tubular Goods Market

Asia Pacific Oil Country Tubular Goods Market by Manufacturing Processes (Seamless and Electric Resistance Welded), Grades (Premium Grade and American Petroleum Institute (API) Grade), and Geographies (India, China, Japan, South Korea, and Rest of Asia-Pacific) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: CM-1714
  • Author: Growth Market Reports
  • Rating: 4.9
  • Total Reviews: 2
  • No. Of Pages: 151
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  • Pub. Date: Upcoming
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The Asia Pacific oil country tubular goods market size is projected to expand at substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the reducing supply-demand gap, reduced oil service costs, and increased directional drilling across the globe.

Asia Pacific Oil Country Tubular Goods Market Key Takeaways

Oil country tubular goods are critical components in the extraction process of oil and gas from the reservoir. These goods are one of the seamless rolled products. Oil & gas production and exploration activities are complicated processes and require modern equipment and technology as this market is highly cyclical and volatile in nature.

Oil country tubular goods are used for both onshore and offshore. Drill pipe and casing and tubing are used alternative to bore the well in multiple phases. These goods are produced with the use of chemical composition of steel and subsequent heat treatment. Drill pipe is a heavy tube that rotates the drill and circulates drilling fluid. It sustains axial tension by its internal pressure through fluid purging and external pressure by surrounding rock formation. Tubing is use to penetrate through the bore to extract oil and gases from wellbore.

Market Trends, Drivers, Restraints, and Opportunities

  • Recovery in the crude oil prices and strategic initiatives by major companies are anticipated to boost the market growth.
  • Growing drilling activities is anticipated to drive the demand for oil country tubular goods during the forecast period.
  • The appropriate selection of oil country tubular goods can minimize risk and save cost, which in turn, is a major factor propelling the market growth.
  • Rising demand for oil country tubular goods in oilfield services is estimated to drive the market expansion.
  • Lack of skilled labor and operational challenges such as harsh weather conditions are expected to act as major hindrances for the development of the oil country tubular goods market in the coming years.
  • The fall in commodity prices that can hinder the market growth during the forecast period.
  • Increasing R&D investments and ongoing technological advancement are estimated to create significant opportunities for the market players in the projected timeline.

Scope of the Report

The report on the Asia Pacific oil country tubular goods market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Oil Country Tubular Goods Market - Asia Pacific Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Manufacturing Processes (Seamless and Electric Resistance Welded), Grades (Premium Grade and American Petroleum Institute (API) Grade)

Geographic Scope

India, China, Japan, South Korea, and Rest of Asia Pacific

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

National-Oilwell Varco, Inc., ILJIN STEEL CO., Nippon Steel Corp, Tenaris SA, and TPCO Enterprise, Inc.

Asia Pacific Oil Country Tubular Goods Market Segment Insights

Seamless segment to account a large market share

In terms of manufacturing processes, the market is segmented into seamless and electric resistance welded. The seamless segment is expected to constitute a key market share during the forecast period owing to increasing use of casing, drill pipe, and tubing during the extraction of oil from wells. Moreover, its increasing use in offshore applications is expected to foster the segment growth.

Asia Pacific Oil Country Tubular Goods Market By Manufacturing Processes

Premium grade segment to register a substantial CAGR

On the basis of grades, the market is bifurcated into premium grade and American petroleum institute (API) grade. The premium grade segment is anticipated to register at a substantial CAGR during the forecast period due to growing requirement of premium grade oil country tubular goods products in upstream operation.

China is expected to dominate the market

On the basis of geographies, the market is categorized as India, China, Japan, South Korea, and Rest of Asia-Pacific. China is expected to dominate the market during the forecast period owing to the presence of a well-established network of oil country tubular goods manufacturing companies. China-based domestic equipment manufacturers are expected to hold about 83% of the domestic oilfield services market. On the other hand, the market in India is anticipated to exhibit a high CAGR owing to presence of government-owned companies such as Oil Natural Gas Corporation (ONGC) and Bharat Petroleum Corporation Limited (BPCL). Moreover, increasing number of private players in the country is driving the growth in the market in the country.

Segments

Segments Covered in the Report
The Asia Pacific oil country tubular goods market has been segmented on the basis of
 
Manufacturing Processes
  • Seamless
  • Electric Resistance Welded
Grades
  •  Premium Grade
  • American Petroleum Institute (API) Grade
Geographies
  • India
  • China
  • Japan
  • South Korea
  • Rest of Asia Pacific
Key Players
  • National-Oilwell Varco, Inc.
  • ILJIN STEEL CO.
  • Nippon Steel Corp
  • Tenaris SA
  • TPCO Enterprise, Inc.

Competitive Landscape

Key players competing in the Asia Pacific oil country tubular goods market include National-Oilwell Varco, Inc., ILJIN STEEL CO., Nippon Steel Corp, Tenaris SA, and TPCO Enterprise, Inc.

Asia Pacific Oil Country Tubular Goods Market By Key Players

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Oil Country Tubular Goods Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Oil Country Tubular Goods Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Oil Country Tubular Goods Market - Supply Chain
  4.5. Global Oil Country Tubular Goods Market Forecast
     4.5.1. Oil Country Tubular Goods Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Oil Country Tubular Goods Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Oil Country Tubular Goods Market Absolute $ Opportunity
5. Global Oil Country Tubular Goods Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Oil Country Tubular Goods Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Oil Country Tubular Goods Demand Share Forecast, 2019-2026
6. North America Oil Country Tubular Goods Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Oil Country Tubular Goods Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Oil Country Tubular Goods Demand Share Forecast, 2019-2026
7. Latin America Oil Country Tubular Goods Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Oil Country Tubular Goods Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Oil Country Tubular Goods Demand Share Forecast, 2019-2026
8. Europe Oil Country Tubular Goods Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Oil Country Tubular Goods Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Oil Country Tubular Goods Demand Share Forecast, 2019-2026
9. Asia Pacific Oil Country Tubular Goods Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Oil Country Tubular Goods Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Oil Country Tubular Goods Demand Share Forecast, 2019-2026
10. Middle East & Africa Oil Country Tubular Goods Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Oil Country Tubular Goods Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Oil Country Tubular Goods Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Oil Country Tubular Goods Market: Market Share Analysis
  11.2. Oil Country Tubular Goods Distributors and Customers
  11.3. Oil Country Tubular Goods Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. National-Oilwell Varco, Inc. ILJIN STEEL CO. Nippon Steel Corp Tenaris SA TPCO Enterprise, Inc.
Segments Covered in the Report
The Asia Pacific oil country tubular goods market has been segmented on the basis of
 
Manufacturing Processes
  • Seamless
  • Electric Resistance Welded
Grades
  •  Premium Grade
  • American Petroleum Institute (API) Grade
Geographies
  • India
  • China
  • Japan
  • South Korea
  • Rest of Asia Pacific
Key Players
  • National-Oilwell Varco, Inc.
  • ILJIN STEEL CO.
  • Nippon Steel Corp
  • Tenaris SA
  • TPCO Enterprise, Inc.

Key players competing in the Asia Pacific oil country tubular goods market include National-Oilwell Varco, Inc., ILJIN STEEL CO., Nippon Steel Corp, Tenaris SA, and TPCO Enterprise, Inc.

Asia Pacific Oil Country Tubular Goods Market By Key Players

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