North America Oil Country Tubular Goods Market Size | 2031
North America Oil Country Tubular Goods Market Size | 2031
Segments - North America Oil Country Tubular Goods Market by Manufacturing Process (Electric Resistance Welded and Seamless), Grades (American Petroleum Institute and Premium), and Geography (Canada, United States, and Rest of North America) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :EP-1789
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| 187 Pages
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Report Description
North America Oil Country Tubular Goods Market Outlook 2031
The North America Oil Country Tubular Goods Market size was USD XX Billion in 2022 & is likely to reach USD XX Billion by 2031, expanding at a CAGR of 7.9% during the forecast period, 2023–2031. The growth of the market is attributed to the increasing demand for premium pipes, growing number of shale reserves, and developments in the technologies leading to rising directional & horizontal drilling.
Oil country tubular goods are the combinations of different types of steel tubular products that are used to perform the drilling activities without any interference. The steel tubular products used to make oil country tubular goods are production tubing, well casing, and drill pipe. It is majorly used for producing gas and oil as well as in both offshore and onshore.
The wellbore has multiple phases in which tubing, casing, and drill pipe is used on the alternative basis. The drill pipe is heavy that circulates the drilling fluid and also rotates the drill bit. Casing pipes is essential component as it controls the pressure of wellbore at the time of production, drilling, & repairing operations as well as maintains the stability. Casing pipes lines the wellbore and the pipe that is responsible for transporting oil & gas from the wellbore is known as tubing.
North America Oil Country Tubular Goods Market Trends, Drivers, Restraints, and Opportunities
- Rising production of sour crude is estimated to propel the market expansion in the coming years.
- Growing exploration and production activities is expected to boost the market growth during the forecast period.
- Rapid growth of the iron & steel industry is major factors spurring the market expansion.
- High initial setup price is anticipated to hamper the market growth in the coming years.
- Lack of skilled labors for exploration and production acts as main challenge that can impede the market expansion.
- R&D investment and technological advancement in oil country tubular goods market is expected to offer significant opportunities for the market players.
Scope of North America Oil Country Tubular Goods Market Report
The report on the North America 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.
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Attributes |
Details |
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Report Title |
Oil Country Tubular Goods Market - North America Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Manufacturing Process (Electric Resistance Welded and Seamless), Grades (American Petroleum Institute and Premium) |
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Geography |
Canada, United States, and Rest of North America |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
ILJIN Steel Co.; TMK PAO; National-Oilwell Varco Inc.; Nippon Steel Corporation; Tenaris SA; United States Steel Corporation; Evraz Plc.; Tenergy Equipment and Services Ltd.; SB International Inc.; and JFE Steel Corporation |
North America Oil Country Tubular Goods Market Segment Insights
Seamless segment is projected to account for a large market share
Based on the manufacturing process, the North America oil country tubular goods market is divided into electric resistance welded and seamless. The seamless segment is expected to constitute a key share of the market during the forecast period owing to wide availability, ability to hold out against high pressure without cracking and high usage in production activities & hydrocarbon exploration.
It provides uniformity in shape and also refuses the possibility of weaker seam. However, the electric resistance welded segment is anticipated to expand at a rapid pace during the forecast period due to cost effectiveness and easy customization available according to need in the operational activities.
American Petroleum Institute segment is projected to hold a key market share
On the basis of grades, the market is segmented into American Petroleum Institute and premium. The American Petroleum Institute segment is expected to represent a key share of the market in the coming years due to its various standard specifications and its properties such as temperature, thermal compatibility, & ductility. There are chemical compositions used to segregate the products among ten standard grades by providing them heat treatment.
United States is expected to dominate the market
On the basis of geography, the North America oil country tubular goods market is categorized as Canada, United States, and Rest of North America. The market of United States is anticipated to expand at an impressive CAGR during the forecast period. The regional market growth can be attributed to rising offshore drilling operations and favorable government investments & policies. The United States is focusing on leveraging the production of gas & oil for balancing the demand-supply ratio.
Segments
The North America oil country tubular goods market has been segmented on the basis of
Manufacturing Process
- Electric Resistance Welded
- Seamless
Grades
- American Petroleum Institute
- Premium
Geography
- Canada
- United States
- Rest of North America
Key Players
- ILJIN Steel Co.
- TMK PAO
- National-Oilwell Varco Inc.
- Nippon Steel Corporation
- Tenaris SA
- United States Steel Corporation
- Evraz Plc.
- Tenergy Equipment and Services Ltd.
- SB International Inc.
- JFE Steel Corporation
Competitive Landscape
Key players competing in the North America oil country tubular goods market include ILJIN Steel Co.; TMK PAO; National-Oilwell Varco Inc.; Nippon Steel Corporation; Tenaris SA; United States Steel Corporation; Evraz Plc.; Tenergy Equipment and Services Ltd.; SB International Inc.; and JFE Steel Corporation. Some of these players are engaged in several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.
Table Of Content
1. Executive Summary2. 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. ILJIN Steel Co.
11.4.2. TMK PAO
11.4.3. National-Oilwell Varco Inc.
11.4.4. Nippon Steel Corporation
11.4.5. Tenaris SA
11.4.6. United States Steel Corporation
11.4.7. Evraz Plc.
11.4.8. Ten
Methodology
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