By 2025, the OCTG market will reach US $21.7 billion

According to the survey results of qyr, the global OCTG market value reached 140.8 billion yuan in 2018, and it is expected to grow to 283.4 billion yuan in 2025, with a CAGR of 0.095.

Increased demand for oil and gas, as well as increased exploration and production activities, will drive the global OCTG market to 2025, according to a report.

According to the report of techsci research, "by 2025, the global OCTG market will be divided by manufacturing process, product grade, product, application, region, competition, forecast and opportunity". It is estimated that the global OCTG market will reach $21.7 billion by 2025 due to the increase of oil and gas exploration and production activities and the continuous development of technology.

In 2018, global oil production increased by 2.2 million barrels a day, more than twice the average level of 2018. With the increase of productivity, drilling activities are also increasing, which continues to have a positive impact on the global OCTG market. North America and mea will remain the main markets, and these two regions will account for about two-thirds of the global OCTG market in 2019.

However, the current global economic slowdown and the spread of the covid-19 pandemic are posing a major threat, which will seriously affect the global OCTG market in the short term.

In terms of manufacturing process, the global OCTG market is divided into resistance welding and seamless welding segments, while the seamless welding segment has higher user preference in harsh drilling environment, so it is in a leading position in the market. However, due to the high cost-effectiveness of these pipes, the welded parts will also grow.

In the field of application, the tubular products market of global oil countries is divided into onshore and offshore, and the onshore part accounts for about 80% of the market share. In terms of product segmentation, the global OCTG market is divided into well casing, production tubing, drill pipe and other market segments. Casing market share is the largest, followed by production tubing and drill pipe market.

Some of the major players in the global oil pipe market include MRC global, JFE steel, TMK ipsco enterprise Inc., national oil well Varco Inc., Tenaris SA, Jindal saw Ltd., Arcelor Mittal SA, Nippo steel and Sumitomo Metal, Warwick, American steel pipe products, etc.

"Globally, a large amount of investment in the upstream industry, together with favorable policies and regulations for the oil and gas industry, will continue to drive the global OCTG market in the forecast period.

The boom in horizontal drilling and multilateral drilling is also expected to have a positive impact on the market in the next few years. In addition, it is expected that unconventional exploration activities such as shale gas, coalbed methane and tight gas will also provide power for the market in the next five years. " Karan Chechi, head of research at techsci research, a global management consulting firm, said.

"Global OCTG market by manufacturing process, grade, product, application, region, competition, forecast and opportunity by 2025" analyzes the potential of global OCTG market and provides statistical information on market size, share and trend.
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