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PUBLISHER: IMARC | PRODUCT CODE: 1702059
PUBLISHER: IMARC | PRODUCT CODE: 1702059
Oil Country Tubular Goods Market Report by Product, Manufacturing Process (Electric Resistance Welded, Seamless), Grade, Application, and Region 2025-2033
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PAGES: 140 Pages
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The global oil country tubular goods (OCTG) market size reached USD 25.9 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 41.8 Billion by 2033, exhibiting a growth rate (CAGR) of 5.47% during 2025-2033. At present, North America dominates the global oil country tubular goods market by region, driven by significant drilling activities.
Oil country tubular goods (OCTG) refers to seamless rolled products used in the oil and gas industry. They consist of drill pipe, casing, and tubing that are used in drilling, equipment, and operation of wells for oil and gas production. Amongst these, drill pipes are heavy seamless tubes that rotate the drill bit and circulate drilling fluid, whereas casing pipelines the borehole and is exposed to axial tension and internal pressure by the pumped oil and gas emulsion. On the other hand, tubing is a pipe through which the gasses and oils are transported from the wellbore. OCTG is manufactured of alloy steel or carbon using electric resistance welded (ERW) or seamless processes, which facilitates the safe and efficient transportation of oil and gas.
OCTG (Oil Country Tubular Goods) Market Trends:
The increasing drilling operations across the globe is one of the key factors driving the growth of the market. OCTG are widely used in drilling activities due to the increase in deep-water exploration in remote areas with complex environments. In line with this, the widespread product adoption for the exploration of the onshore oil fields to develop a wide variety of chemical products and fuel on account of the increasing demand for energy resources are favoring the market growth. Moreover, the large-scale implementation of hydraulic fracturing technology and horizontal drilling to release reserves long held within the shale formations of rock are also providing an impetus to the market growth. Additionally, the widespread adoption of seamless pipes due to their ability to provide uniformity of shape and withstand extremely high pressure without cracking is positively impacting the market growth. Apart from this, rising exploration and production activities (E&P) and the implementation of various government initiatives to promote the discovery and extortion of oil and gas are anticipated to drive the market toward growth.
Key Market Segmentation:
Breakup by Product:
- Well Casing
- Product Tubing
- Drill Pipe
- Others
Breakup by Manufacturing Process:
- Electric Resistance Welded (ERW)
- Seamless
Breakup by Grade:
- API Grade
- Premium Grade
Breakup by Application:
- Onshore
- Offshore
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being ArcelorMittal S.A., EVRAZ plc, Iljin Steel Co. Ltd. (ILJIN Group), JFE Steel Corporation, Nippon Steel Corporation, NOV Inc., Oil Country Tubular Limited, Sumitomo Corporation, Tenaris S.A. (Techint), TMK Group, United States Steel Corporation and Vallourec S.A.
Key Questions Answered in This Report
- 1.What was the size of the global oil country tubular goods (OCTG) market in 2024?
- 2.What is the expected growth rate of the global oil country tubular goods (OCTG) market during 2025-2033?
- 3.What are the key factors driving the global oil country tubular goods (OCTG) market?
- 4.What has been the impact of COVID-19 on the global oil country tubular goods (OCTG) market?
- 5.What is the breakup of the global oil country tubular goods (OCTG) market based on the product?
- 6.What is the breakup of the global oil country tubular goods (OCTG) market based on the manufacturing process?
- 7.What is the breakup of the global oil country tubular goods (OCTG) market based on the grade?
- 8.What is the breakup of the global oil country tubular goods (OCTG) market based on the application?
- 9.What are the key regions in the global oil country tubular goods (OCTG) market?
- 10.Who are the key players/companies in the global oil country tubular goods (OCTG) market?
Product Code: SR112025A5136
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Oil Country Tubular Goods (OCTG) Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Product
- 6.1 Well Casing
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Product Tubing
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Drill Pipe
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Others
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
7 Market Breakup by Manufacturing Process
- 7.1 Electric Resistance Welded (ERW)
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Seamless
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
8 Market Breakup by Grade
- 8.1 API Grade
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Premium Grade
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
9 Market Breakup by Application
- 9.1 Onshore
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Offshore
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
10 Market Breakup by Region
- 10.1 North America
- 10.1.1 United States
- 10.1.1.1 Market Trends
- 10.1.1.2 Market Forecast
- 10.1.2 Canada
- 10.1.2.1 Market Trends
- 10.1.2.2 Market Forecast
- 10.1.1 United States
- 10.2 Asia-Pacific
- 10.2.1 China
- 10.2.1.1 Market Trends
- 10.2.1.2 Market Forecast
- 10.2.2 Japan
- 10.2.2.1 Market Trends
- 10.2.2.2 Market Forecast
- 10.2.3 India
- 10.2.3.1 Market Trends
- 10.2.3.2 Market Forecast
- 10.2.4 South Korea
- 10.2.4.1 Market Trends
- 10.2.4.2 Market Forecast
- 10.2.5 Australia
- 10.2.5.1 Market Trends
- 10.2.5.2 Market Forecast
- 10.2.6 Indonesia
- 10.2.6.1 Market Trends
- 10.2.6.2 Market Forecast
- 10.2.7 Others
- 10.2.7.1 Market Trends
- 10.2.7.2 Market Forecast
- 10.2.1 China
- 10.3 Europe
- 10.3.1 Germany
- 10.3.1.1 Market Trends
- 10.3.1.2 Market Forecast
- 10.3.2 France
- 10.3.2.1 Market Trends
- 10.3.2.2 Market Forecast
- 10.3.3 United Kingdom
- 10.3.3.1 Market Trends
- 10.3.3.2 Market Forecast
- 10.3.4 Italy
- 10.3.4.1 Market Trends
- 10.3.4.2 Market Forecast
- 10.3.5 Spain
- 10.3.5.1 Market Trends
- 10.3.5.2 Market Forecast
- 10.3.6 Russia
- 10.3.6.1 Market Trends
- 10.3.6.2 Market Forecast
- 10.3.7 Others
- 10.3.7.1 Market Trends
- 10.3.7.2 Market Forecast
- 10.3.1 Germany
- 10.4 Latin America
- 10.4.1 Brazil
- 10.4.1.1 Market Trends
- 10.4.1.2 Market Forecast
- 10.4.2 Mexico
- 10.4.2.1 Market Trends
- 10.4.2.2 Market Forecast
- 10.4.3 Others
- 10.4.3.1 Market Trends
- 10.4.3.2 Market Forecast
- 10.4.1 Brazil
- 10.5 Middle East and Africa
- 10.5.1 Market Trends
- 10.5.2 Market Breakup by Country
- 10.5.3 Market Forecast
11 SWOT Analysis
- 11.1 Overview
- 11.2 Strengths
- 11.3 Weaknesses
- 11.4 Opportunities
- 11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
- 13.1 Overview
- 13.2 Bargaining Power of Buyers
- 13.3 Bargaining Power of Suppliers
- 13.4 Degree of Competition
- 13.5 Threat of New Entrants
- 13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
- 15.1 Market Structure
- 15.2 Key Players
- 15.3 Profiles of Key Players
- 15.3.1 ArcelorMittal S.A.
- 15.3.1.1 Company Overview
- 15.3.1.2 Product Portfolio
- 15.3.1.3 Financials
- 15.3.1.4 SWOT Analysis
- 15.3.2 EVRAZ plc
- 15.3.2.1 Company Overview
- 15.3.2.2 Product Portfolio
- 15.3.2.3 Financials
- 15.3.2.4 SWOT Analysis
- 15.3.3 Iljin Steel Co. Ltd. (ILJIN Group)
- 15.3.3.1 Company Overview
- 15.3.3.2 Product Portfolio
- 15.3.4 JFE Steel Corporation
- 15.3.4.1 Company Overview
- 15.3.4.2 Product Portfolio
- 15.3.4.3 Financials
- 15.3.4.4 SWOT Analysis
- 15.3.5 Nippon Steel Corporation
- 15.3.5.1 Company Overview
- 15.3.5.2 Product Portfolio
- 15.3.5.3 Financials
- 15.3.5.4 SWOT Analysis
- 15.3.6 NOV Inc.
- 15.3.6.1 Company Overview
- 15.3.6.2 Product Portfolio
- 15.3.6.3 Financials
- 15.3.6.4 SWOT Analysis
- 15.3.7 Oil Country Tubular Limited
- 15.3.7.1 Company Overview
- 15.3.7.2 Product Portfolio
- 15.3.7.3 Financials
- 15.3.8 Sumitomo Corporation
- 15.3.8.1 Company Overview
- 15.3.8.2 Product Portfolio
- 15.3.8.3 Financials
- 15.3.8.4 SWOT Analysis
- 15.3.9 Tenaris S.A. (Techint)
- 15.3.9.1 Company Overview
- 15.3.9.2 Product Portfolio
- 15.3.9.3 Financials
- 15.3.10 TMK Group
- 15.3.10.1 Company Overview
- 15.3.10.2 Product Portfolio
- 15.3.10.3 Financials
- 15.3.11 United States Steel Corporation
- 15.3.11.1 Company Overview
- 15.3.11.2 Product Portfolio
- 15.3.11.3 Financials
- 15.3.11.4 SWOT Analysis
- 15.3.12 Vallourec S.A.
- 15.3.12.1 Company Overview
- 15.3.12.2 Product Portfolio
- 15.3.12.3 Financials
- 15.3.1 ArcelorMittal S.A.
Product Code: SR112025A5136
List of Figures
- Figure 1: Global: Oil Country Tubular Goods Market: Major Drivers and Challenges
- Figure 2: Global: Oil Country Tubular Goods Market: Sales Value (in Billion USD), 2019-2024
- Figure 3: Global: Oil Country Tubular Goods Market Forecast: Sales Value (in Billion USD), 2025-2033
- Figure 4: Global: Oil Country Tubular Goods Market: Breakup by Product (in %), 2024
- Figure 5: Global: Oil Country Tubular Goods Market: Breakup by Manufacturing Process (in %), 2024
- Figure 6: Global: Oil Country Tubular Goods Market: Breakup by Grade (in %), 2024
- Figure 7: Global: Oil Country Tubular Goods Market: Breakup by Application (in %), 2024
- Figure 8: Global: Oil Country Tubular Goods Market: Breakup by Region (in %), 2024
- Figure 9: Global: Oil Country Tubular Goods (Well Casing) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 10: Global: Oil Country Tubular Goods (Well Casing) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 11: Global: Oil Country Tubular Goods (Product Tubing) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 12: Global: Oil Country Tubular Goods (Product Tubing) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 13: Global: Oil Country Tubular Goods (Drill Pipe) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 14: Global: Oil Country Tubular Goods (Drill Pipe) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 15: Global: Oil Country Tubular Goods (Other Products) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 16: Global: Oil Country Tubular Goods (Other Products) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 17: Global: Oil Country Tubular Goods (Electric Resistance Welded (ERW)) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 18: Global: Oil Country Tubular Goods (Electric Resistance Welded (ERW)) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 19: Global: Oil Country Tubular Goods (Seamless) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 20: Global: Oil Country Tubular Goods (Seamless) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 21: Global: Oil Country Tubular Goods (API Grade) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 22: Global: Oil Country Tubular Goods (API Grade) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 23: Global: Oil Country Tubular Goods (Premium Grade) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 24: Global: Oil Country Tubular Goods (Premium Grade) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 25: Global: Oil Country Tubular Goods (Onshore) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 26: Global: Oil Country Tubular Goods (Onshore) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 27: Global: Oil Country Tubular Goods (Offshore) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 28: Global: Oil Country Tubular Goods (Offshore) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 29: North America: Oil Country Tubular Goods Market: Sales Value (in Million USD), 2019 & 2024
- Figure 30: North America: Oil Country Tubular Goods Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 31: United States: Oil Country Tubular Goods Market: Sales Value (in Million USD), 2019 & 2024
- Figure 32: United States: Oil Country Tubular Goods Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 33: Canada: Oil Country Tubular Goods Market: Sales Value (in Million USD), 2019 & 2024
- Figure 34: Canada: Oil Country Tubular Goods Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 35: Asia-Pacific: Oil Country Tubular Goods Market: Sales Value (in Million USD), 2019 & 2024
- Figure 36: Asia-Pacific: Oil Country Tubular Goods Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 37: China: Oil Country Tubular Goods Market: Sales Value (in Million USD), 2019 & 2024
- Figure 38: China: Oil Country Tubular Goods Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 39: Japan: Oil Country Tubular Goods Market: Sales Value (in Million USD), 2019 & 2024
- Figure 40: Japan: Oil Country Tubular Goods Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 41: India: Oil Country Tubular Goods Market: Sales Value (in Million USD), 2019 & 2024
- Figure 42: India: Oil Country Tubular Goods Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 43: South Korea: Oil Country Tubular Goods Market: Sales Value (in Million USD), 2019 & 2024
- Figure 44: South Korea: Oil Country Tubular Goods Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 45: Australia: Oil Country Tubular Goods Market: Sales Value (in Million USD), 2019 & 2024
- Figure 46: Australia: Oil Country Tubular Goods Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 47: Indonesia: Oil Country Tubular Goods Market: Sales Value (in Million USD), 2019 & 2024
- Figure 48: Indonesia: Oil Country Tubular Goods Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 49: Others: Oil Country Tubular Goods Market: Sales Value (in Million USD), 2019 & 2024
- Figure 50: Others: Oil Country Tubular Goods Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 51: Europe: Oil Country Tubular Goods Market: Sales Value (in Million USD), 2019 & 2024
- Figure 52: Europe: Oil Country Tubular Goods Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 53: Germany: Oil Country Tubular Goods Market: Sales Value (in Million USD), 2019 & 2024
- Figure 54: Germany: Oil Country Tubular Goods Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 55: France: Oil Country Tubular Goods Market: Sales Value (in Million USD), 2019 & 2024
- Figure 56: France: Oil Country Tubular Goods Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 57: United Kingdom: Oil Country Tubular Goods Market: Sales Value (in Million USD), 2019 & 2024
- Figure 58: United Kingdom: Oil Country Tubular Goods Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 59: Italy: Oil Country Tubular Goods Market: Sales Value (in Million USD), 2019 & 2024
- Figure 60: Italy: Oil Country Tubular Goods Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 61: Spain: Oil Country Tubular Goods Market: Sales Value (in Million USD), 2019 & 2024
- Figure 62: Spain: Oil Country Tubular Goods Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 63: Russia: Oil Country Tubular Goods Market: Sales Value (in Million USD), 2019 & 2024
- Figure 64: Russia: Oil Country Tubular Goods Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 65: Others: Oil Country Tubular Goods Market: Sales Value (in Million USD), 2019 & 2024
- Figure 66: Others: Oil Country Tubular Goods Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 67: Latin America: Oil Country Tubular Goods Market: Sales Value (in Million USD), 2019 & 2024
- Figure 68: Latin America: Oil Country Tubular Goods Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 69: Brazil: Oil Country Tubular Goods Market: Sales Value (in Million USD), 2019 & 2024
- Figure 70: Brazil: Oil Country Tubular Goods Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 71: Mexico: Oil Country Tubular Goods Market: Sales Value (in Million USD), 2019 & 2024
- Figure 72: Mexico: Oil Country Tubular Goods Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 73: Others: Oil Country Tubular Goods Market: Sales Value (in Million USD), 2019 & 2024
- Figure 74: Others: Oil Country Tubular Goods Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 75: Middle East and Africa: Oil Country Tubular Goods Market: Sales Value (in Million USD), 2019 & 2024
- Figure 76: Middle East and Africa: Oil Country Tubular Goods Market: Breakup by Country (in %), 2024
- Figure 77: Middle East and Africa: Oil Country Tubular Goods Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 78: Global: Oil Country Tubular Goods Industry: SWOT Analysis
- Figure 79: Global: Oil Country Tubular Goods Industry: Value Chain Analysis
- Figure 80: Global: Oil Country Tubular Goods Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Oil Country Tubular Goods Market: Key Industry Highlights, 2024 & 2033
- Table 2: Global: Oil Country Tubular Goods Market Forecast: Breakup by Product (in Million USD), 2025-2033
- Table 3: Global: Oil Country Tubular Goods Market Forecast: Breakup by Manufacturing Process (in Million USD), 2025-2033
- Table 4: Global: Oil Country Tubular Goods Market Forecast: Breakup by Grade (in Million USD), 2025-2033
- Table 5: Global: Oil Country Tubular Goods Market Forecast: Breakup by Application (in Million USD), 2025-2033
- Table 6: Global: Oil Country Tubular Goods Market Forecast: Breakup by Region (in Million USD), 2025-2033
- Table 7: Global: Oil Country Tubular Goods Market: Competitive Structure
- Table 8: Global: Oil Country Tubular Goods Market: Key Players
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