Middle East Oil Country Tubular Goods is Expected to be Dominated by the Onshore Segment in the Forecast Period
The high energy demand has augmented the requirement for exploratory activities and investments, which is fueling the industry's need for Oil Country Tubular Goods product.
According to TechSci Research,
the report “Middle East Oil Country Tubular Goods Market- By Country,
Competition Forecast & Opportunities, 2028”, the market is expected to
register robust growth during the forecast period, 2024-2028. Energy
production and increased energy consumption are believed to be two of the
primary reasons influencing the rising demand for oil country tubular goods and
the penetration of the Middle East oil country tubular goods market. The
primary drivers of the market for oil country tubular products are the
development of drilling and production activities, the expansion of shale gas
exploration, and the increase in the number of oil wells per rig. A rise in
investment in unconventional oil and gas sources is another factor that is
significantly increasing the demand for oil country tubular products.
The production of oil and gas is
a vital part of the expansion of the world economy. Hydrocarbons are widely
used in a variety of industrial areas, including manufacturing, process, and
transportation, among others. As demand for oil and gas has increased, so have
activities for exploration and production. Governments and renowned hydrocarbon
producers from all over the world continue to provide funds for oil and gas
extraction. Drilling is necessary for the extraction of hydrocarbons, and OCTG
must be used during drilling operations.
Oil country tubular goods are a
variety of different steel tube products such well casing, production tubing,
and drill pipe that are utilized to perform drilling without pausing. Tubular
pipes can be either seamless or welded and come in several grades and
diameters. To keep the well from collapsing during drilling, the well's
structural component and casing, preserves its stability and integrity. A
variety of casings, including conductor, surface, and production casings, are
used depending on the characteristics of the borehole. Casing is required while
drilling to avoid contaminating the groundwater. Contrarily, production tubing
is a hollow pipe used to bring hydrocarbons to the surface.
Browse over XX market data
Figures spread through XX Pages and an in-depth TOC on the "Middle East Oil Country Tubular Goods Market”
The Middle East oil country
tubular goods market is divided into manufacturing process, grade, product, and
application. Based on manufacturing process the market is segmented into
electric resistance welded and seamless. Based on grade, the market is
segmented into API grade and premium grade. Based on product, the market is
divided into well casing, production tubing, drill pipe, and others. Based on
application, the market is segmented into onshore and offshore.
Based on manufacturing process,
the market is divided into electric resistance welded and seamless. Since
electric resistance can keep uniformity in their shape and withstand extremely
high pressure without cracking, seamless pipes are preferred to welded ones.
Due to their suitability for sour gas resources, seamless pipes made up 90% of
OCTG usage in the Gulf Cooperation Council region as of 2019.
Based on product, the market is
segmented based on products into well casing, production tubing, drill pipe,
and others. Well casing, a crucial component of drilling, protects groundwater
from contamination and provides stability for ongoing drilling activities. In
addition, it supports the well wall to prevent the well shaft from collapsing
because of sand or rock fragments that have gotten within the well and become
unconsolidated. The submersible pump's water tubing, pull cable, and electrical
cables are all carefully protected by casing. Well casing segmentation is anticipated
to increase as a result.
The market is divided into
onshore and offshore segments based on application. Because of the ease of
shipping, relative affordability, and availability of skilled labour, onshore
applications are the most popular ones on the market.
Major market players in the
Middle East oil country tubular goods market are: -
- National-Oilwell
Varco Inc.
- Nippon
Steel Corporation
- Tenaris
SA
- ArcelorMittal
SA
- Vallourec
SA
- ILJIN
Steel Co.
- TPCO
Enterprise Inc.
- S.
Steel Tubular Products Inc.
- Halima
Pipe Company
- Iteco
- Indian Telephone & Electric Company
Download Free Sample Report
Customers can also request
for 10% free customization on this report.
“The market for oil country
tubular goods is mainly driven by an increase in shale reserves, technological
developments that have increased horizontal and directional drilling, and an
increase in production and exploration activities, all of which are fueled by
an increase in the world's energy consumption." said Mr. Karan Chechi,
Research Director with TechSci Research, a research-based global management
consulting firm.
Middle East Oil Country Tubular
Goods Market By Manufacturing Process (Electric Resistance Welded,
Seamless), By Grade (API Grade, Premium Grade), By Product (Well Casing,
Production Tubing, Drill Pipe, Others), By Application (Onshore,
Offshore), By Country, Competition Forecast and Opportunities, 2028 has
evaluated the future growth potential of Middle East oil country tubular goods
market and provides statistics & information on market size, structure, and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities for Middle East Oil country
tubular goods market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]
Website: https://www.techsciresearch.com