Report Description

Forecast Period

2025-2029

Market Size (2023)

USD 6.16 billion

CAGR (2024-2029)

3.10%

Fastest Growing Segment

Internally Coated

Largest Market

North America

Market Size (2029)

USD 7.46 billion





Market Overview

Global Carbon Steel Tubing in Oil and Gas Lift Applications Market was valued at USD 6.16 billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 3.10% through 2029. Ongoing technological advancements in oil and gas extraction techniques contribute to the demand for high-performance tubing solutions. Innovations such as hydraulic fracturing, directional drilling, and enhanced oil recovery methods require tubing that can withstand challenging conditions, including high pressure and corrosive environments. Carbon steel tubing, known for its strength and durability, remains a preferred choice in these technologically advanced extraction processes.

Key Market Drivers

Increasing Demand for Oil and Gas Exploration and Production

The global carbon steel tubing market in oil and gas lift applications is being driven by the increasing demand for oil and gas exploration and production activities. As the global population continues to grow, the demand for energy has risen significantly, leading to an upsurge in the exploration and extraction of oil and gas resources. Carbon steel tubing plays a pivotal role in oil and gas lift applications, providing a reliable and durable solution for the conveyance of fluids in these harsh and demanding environments.

The rise in unconventional oil and gas extraction techniques, such as hydraulic fracturing and deepwater drilling, has further fueled the demand for carbon steel tubing. These advanced extraction methods require tubing that can withstand high-pressure conditions and corrosive environments, making carbon steel an ideal material choice. As oil and gas companies continue to invest in expanding their exploration and production activities, the demand for carbon steel tubing in lift applications is expected to experience robust growth.

Technological Advancements in Oil and Gas Lift Systems

Another significant driver influencing the global carbon steel tubing market in oil and gas lift applications is the continuous technological advancements in lift systems. Oil and gas lift technologies have evolved over the years, incorporating innovative solutions to enhance efficiency, reduce operational costs, and extend the lifespan of equipment. Carbon steel tubing, being a crucial component in these lift systems, benefits from these technological advancements.

Advancements such as intelligent well completions, real-time monitoring, and automation have increased the efficiency and productivity of oil and gas lift operations. Carbon steel tubing is often designed to meet the specific requirements of these advanced systems, offering enhanced corrosion resistance, durability, and flexibility. As oil and gas companies seek to optimize their production processes and reduce downtime, the adoption of cutting-edge lift technologies is expected to drive the demand for carbon steel tubing in these applications.

Growing Investments in Oil and Gas Infrastructure

The global carbon steel tubing market in oil and gas lift applications is also propelled by the growing investments in oil and gas infrastructure. Many regions around the world are witnessing substantial investments in the development of new oil and gas fields, as well as the expansion and refurbishment of existing infrastructure. Governments and private investors recognize the strategic importance of ensuring a reliable and secure energy supply, leading to increased spending on oil and gas projects.

Carbon steel tubing is an integral component of the infrastructure required for oil and gas extraction, transportation, and processing. Investments in pipeline networks, drilling platforms, and production facilities contribute to the rising demand for carbon steel tubing in various lift applications. Additionally, the durability and cost-effectiveness of carbon steel make it a preferred choice for large-scale infrastructure projects in the oil and gas industry. As global investments in oil and gas infrastructure continue to grow, the demand for carbon steel tubing is expected to experience sustained growth, further boosting the market in lift applications.


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Key Market Challenges

Corrosion and Degradation in Aggressive Environments

One of the significant challenges faced by the global carbon steel tubing market in oil and gas lift applications is the susceptibility of carbon steel to corrosion and degradation in aggressive environments. Oil and gas wells are often exposed to harsh conditions, including high temperatures, corrosive chemicals, and the presence of corrosive gases such as hydrogen sulfide. These conditions can lead to accelerated corrosion of carbon steel tubing, compromising its structural integrity and reducing its lifespan.

To address this challenge, oil and gas companies have to invest in corrosion-resistant coatings and inhibitors or consider alternative materials, such as corrosion-resistant alloys. While these solutions can mitigate the impact of corrosion, they often come with additional costs. Striking a balance between cost-effectiveness and corrosion resistance remains a persistent challenge in the industry, as operators seek tubing materials that can withstand aggressive environments without significantly impacting project economics.

Fluctuating Oil Prices and Capital Expenditure Constraints

The global carbon steel tubing market in oil and gas lift applications is heavily influenced by the volatile nature of oil prices and capital expenditure constraints faced by industry players. Fluctuations in oil prices directly impact the financial viability of oil and gas projects, leading to uncertainties in capital investments. During periods of low oil prices, companies may delay or scale back their exploration and production activities, resulting in reduced demand for carbon steel tubing in lift applications.

Capital expenditure constraints further compound the challenge, as oil and gas companies may be limited in their ability to invest in new equipment and technologies, including advanced carbon steel tubing solutions. This challenge is particularly pronounced in the upstream sector, where the economic feasibility of projects is closely tied to the prevailing oil price. Striking a balance between cost-effective solutions and maintaining the required quality and performance of carbon steel tubing becomes a complex decision for industry stakeholders in the face of these uncertainties.

Increasing Environmental and Regulatory Pressure

A growing challenge for the global carbon steel tubing market in oil and gas lift applications is the increasing environmental and regulatory pressure on the industry. As concerns about climate change and environmental impact rise, governments and regulatory bodies are implementing stricter environmental standards and regulations for the oil and gas sector. This includes regulations aimed at reducing greenhouse gas emissions, minimizing the environmental footprint of oil and gas operations, and promoting the use of cleaner technologies.

In response to these regulatory pressures, oil and gas companies are increasingly exploring alternatives to traditional extraction and production methods. This shift towards more environmentally friendly practices may involve the adoption of new materials or technologies that can replace or reduce the reliance on carbon steel tubing in certain applications. Adapting to these changing regulatory landscapes poses a challenge for the carbon steel tubing market, as manufacturers and end-users must navigate evolving standards while ensuring the continued reliability and safety of tubing in oil and gas lift applications. Balancing compliance with environmental regulations and maintaining operational efficiency becomes a delicate challenge in an industry traditionally reliant on carbon steel tubing.

Key Market Trends

Increasing Adoption of Advanced Coating Technologies for Corrosion Protection

An emerging trend in the global carbon steel tubing market for oil and gas lift applications is the increasing adoption of advanced coating technologies to enhance corrosion protection. The corrosion susceptibility of carbon steel in aggressive environments has been a long-standing challenge in the industry. To mitigate the impact of corrosion and extend the lifespan of tubing, there is a growing emphasis on the development and application of high-performance coatings.

In recent years, advancements in coating technologies have provided oil and gas companies with a range of options to protect carbon steel tubing. These coatings may include epoxy-based coatings, thermoplastic coatings, and advanced metallic coatings. Epoxy-based coatings, for example, offer excellent adhesion and corrosion resistance, forming a protective barrier against corrosive elements. Thermoplastic coatings provide chemical resistance and flexibility, while advanced metallic coatings, such as zinc-nickel alloys, offer enhanced corrosion protection.

The adoption of these advanced coating technologies aligns with the industry's pursuit of cost-effective solutions that can simultaneously address corrosion challenges and improve the overall performance of carbon steel tubing. As these technologies continue to evolve, the trend towards incorporating sophisticated coatings is expected to gain momentum, contributing to the sustained growth and resilience of the global carbon steel tubing market in oil and gas lift applications.

Integration of Digitalization and IoT for Condition Monitoring and Predictive Maintenance

A significant trend shaping the global carbon steel tubing market in oil and gas lift applications is the integration of digitalization and the Internet of Things (IoT) for condition monitoring and predictive maintenance. The oil and gas industry is undergoing a digital transformation, with a focus on leveraging data analytics and connectivity to optimize operations and reduce downtime. This trend extends to the monitoring and maintenance of critical components, including carbon steel tubing used in lift applications.

IoT sensors and devices are increasingly being deployed on oil and gas infrastructure to collect real-time data on various operational parameters, such as temperature, pressure, and vibration. This data is then processed through advanced analytics and machine learning algorithms to identify patterns and potential issues with the tubing. By implementing condition monitoring and predictive maintenance strategies, operators can anticipate and address potential failures before they occur, improving the reliability and efficiency of oil and gas lift systems.

The integration of digitalization and IoT in the oil and gas industry not only enhances the operational performance of carbon steel tubing but also contributes to overall cost savings by minimizing unplanned downtime and reducing the need for reactive maintenance. As the industry continues to embrace Industry 4.0 principles, the trend towards intelligent monitoring and predictive maintenance is expected to play a pivotal role in shaping the future of the global carbon steel tubing market in oil and gas lift applications.

Segmental Insights

Type Insights

The Externally Coated segment emerged as the dominating segment in 2023. The global market for carbon steel tubing in oil and gas lift applications is witnessing a dynamic shift, and one key segment that deserves focused analysis is the externally coated carbon steel tubing. Externally coated tubing plays a critical role in addressing corrosion challenges, enhancing durability, and extending the lifespan of tubing used in the demanding environments of oil and gas extraction.

One of the primary drivers for the growth of the externally coated carbon steel tubing segment is the increasing demand for corrosion-resistant solutions. Oil and gas wells are often exposed to corrosive elements such as hydrogen sulfide, brine, and other aggressive chemicals. Externally coated tubing acts as a protective barrier, shielding the carbon steel from corrosion and degradation. The rising emphasis on asset integrity and the need for tubing solutions capable of withstanding harsh environmental conditions contribute significantly to the growth of this segment.

A notable trend within the externally coated carbon steel tubing segment is the continuous advancement in coating technologies. Manufacturers are investing in research and development to introduce coatings with enhanced properties, including improved adhesion, increased abrasion resistance, and higher chemical resistance. This trend is driven by the industry's pursuit of coatings that not only prevent corrosion but also contribute to the overall performance and longevity of the tubing. The evolution of coatings towards greater durability and versatility is expected to shape the competitive landscape within this market segment. 

The shift towards smart coatings aligns with the broader industry trend of digitalization and Industry 4.0 practices, contributing to more efficient maintenance strategies and reduced operational risks. The externally coated carbon steel tubing segment in the oil and gas lift applications market is evolving in response to the industry's changing landscape. The increasing focus on corrosion resistance, regulatory compliance, and advancements in coating technologies are shaping this segment's trajectory. While challenges such as cost considerations and application complexities persist, the market is likely to witness sustained growth as operators prioritize the longevity and reliability of tubing in their oil and gas lift systems. Continuous innovation and strategic collaborations within the coating industry will play a crucial role in addressing these challenges and further enhancing the performance of externally coated carbon steel tubing.


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Regional Insights

North America emerged as the dominating region in 2023, holding the largest market share. Technological innovations in oil and gas extraction techniques, including hydraulic fracturing (fracking) and horizontal drilling, have revolutionized the industry in North America. These advancements often require specialized tubing solutions capable of withstanding high-pressure and corrosive environments. Carbon steel tubing, with its strength and durability, continues to be a preferred choice in these applications, contributing to the market's growth.

The North American market for carbon steel tubing in oil and gas lift applications is witnessing a shift towards the development of unconventional resources. The increased focus on extracting oil and gas from shale formations and deepwater reserves necessitates tubing solutions that can meet the unique challenges posed by these unconventional environments. Carbon steel tubing, externally coated for enhanced corrosion resistance, is well-suited to address the demands of these unconventional resource extraction methods.

The region's commitment to expanding and upgrading its oil and gas infrastructure is contributing to the growth of the carbon steel tubing market. Investments in pipeline networks, drilling platforms, and production facilities require reliable and durable tubing solutions. Carbon steel tubing, with its cost-effectiveness and versatility, plays a crucial role in supporting the development of new infrastructure projects, ensuring the efficient conveyance of oil and gas in lift applications.

North America plays a pivotal role in the global carbon steel tubing market for oil and gas lift applications, driven by abundant energy reserves, technological advancements, and ongoing investments in infrastructure. As the region continues to explore unconventional resources and address environmental concerns, the market is likely to witness a dynamic interplay of challenges and opportunities. Navigating regulatory landscapes, adapting to market volatility, and innovating in tubing technologies will be key factors influencing the growth and sustainability of the carbon steel tubing market in North America's oil and gas lift applications.

Recent Developments

  • In March 2023, Tenaris announced that they would build a new Electric Arc Furnace (EAF) fitted with Tenova’s Consteel technology at its integrated seamless pipe factory in Campana, Argentina. The investment will minimize CO2 emissions while enhancing energy efficiency and output.

Key Market Players

  • Marcegaglia Steel S.p.A.
  • Nippon Steel Corporation
  • ArcelorMittal S.A.
  • Vallourec S.A.
  • Tenaris S.A.
  • Webco Industries, Inc.
  • U.S. Steel Tubular Products, Inc.
  • JFE Holdings, Inc.
  • SB International, Inc.
  • Sandvik AB 

By Type

By End-Use

By Region

  • Externally Coated
  • Internally Coated
  • Onshore
  • Offshore
  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East & Africa

 

Report Scope:

In this report, the Global Carbon Steel Tubing in Oil and Gas Lift Applications Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Carbon Steel Tubing in Oil and Gas Lift Applications Market, By Type:

o   Externally Coated

o   Internally Coated

  • Carbon Steel Tubing in Oil and Gas Lift Applications Market, By End-Use:

o   Onshore

o   Offshore                     

  • Carbon Steel Tubing in Oil and Gas Lift Applications Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  France

§  United Kingdom

§  Italy

§  Germany

§  Spain

§  Netherlands

§  Belgium

o   Asia-Pacific

§  China

§  India

§  Japan

§  Australia

§  South Korea

§  Thailand

§  Malaysia

o   South America

§  Brazil

§  Argentina

§  Colombia

§  Chile

o   Middle East & Africa

§  South Africa

§  Saudi Arabia

§  UAE

§  Turkey

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Carbon Steel Tubing in Oil and Gas Lift Applications Market.

Available Customizations:

Global Carbon Steel Tubing in Oil and Gas Lift Applications Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Carbon Steel Tubing in Oil and Gas Lift Applications Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.         Product Overview

1.1.    Market Definition

1.2.    Scope of the Market

1.2.1.Markets Covered

1.2.2.Years Considered for Study

1.2.3.Key Market Segmentations

2.         Research Methodology

2.1.    Objective of the Study

2.2.    Baseline Methodology

2.3.    Formulation of the Scope

2.4.    Assumptions and Limitations

2.5.    Sources of Research

2.5.1.Secondary Research

2.5.2.Primary Research

2.6.    Approach for the Market Study

2.6.1.The Bottom-Up Approach

2.6.2.The Top-Down Approach

2.7.    Methodology Followed for Calculation of Market Size & Market Shares

2.8.    Forecasting Methodology

2.8.1.Data Triangulation & Validation

3.         Executive Summary

4.         Impact of COVID-19 on Global Carbon Steel Tubing in Oil and Gas Lift Applications Market

5.         Voice of Customer

6.         Global Carbon Steel Tubing in Oil and Gas Lift Applications Market Overview

7.         Global Carbon Steel Tubing in Oil and Gas Lift Applications Market Outlook

7.1.    Market Size & Forecast

7.1.1.By Value

7.2.    Market Share & Forecast

7.2.1.By Type (Externally Coated and Internally Coated)

7.2.2.By End-Use (Onshore and Offshore)

7.2.3.By Region (North America, Europe, South America, Middle East & Africa, Asia-Pacific)

7.3.    By Company (2023)

7.4.    Market Map

8.         North America Carbon Steel Tubing in Oil and Gas Lift Applications Market Outlook

8.1.    Market Size & Forecast

8.1.1.By Value

8.2.    Market Share & Forecast

8.2.1.By Type

8.2.2.By End-Use

8.2.3.By Country

8.3.    North America: Country Analysis

8.3.1.United States Carbon Steel Tubing in Oil and Gas Lift Applications Market Outlook

8.3.1.1.      Market Size & Forecast

8.3.1.1.1.    By Value

8.3.1.2.      Market Share & Forecast

8.3.1.2.1.    By Type

8.3.1.2.2.    By End-Use

8.3.2.Canada Carbon Steel Tubing in Oil and Gas Lift Applications Market Outlook

8.3.2.1.      Market Size & Forecast

8.3.2.1.1.    By Value

8.3.2.2.      Market Share & Forecast

8.3.2.2.1.    By Type

8.3.2.2.2.    By End-Use

8.3.3.Mexico Carbon Steel Tubing in Oil and Gas Lift Applications Market Outlook

8.3.3.1.      Market Size & Forecast

8.3.3.1.1.    By Value

8.3.3.2.      Market Share & Forecast

8.3.3.2.1.    By Type

8.3.3.2.2.    By End-Use

9.         Europe Carbon Steel Tubing in Oil and Gas Lift Applications Market Outlook

9.1.    Market Size & Forecast

9.1.1.By Value

9.2.    Market Share & Forecast

9.2.1.By Type

9.2.2.By End-Use

9.2.3.By Country

9.3.    Europe: Country Analysis

9.3.1.Germany Carbon Steel Tubing in Oil and Gas Lift Applications Market Outlook

9.3.1.1.      Market Size & Forecast

9.3.1.1.1.    By Value

9.3.1.2.      Market Share & Forecast

9.3.1.2.1.    By Type

9.3.1.2.2.    By End-Use

9.3.2.France Carbon Steel Tubing in Oil and Gas Lift Applications Market Outlook

9.3.2.1.      Market Size & Forecast

9.3.2.1.1.    By Value

9.3.2.2.      Market Share & Forecast

9.3.2.2.1.    By Type

9.3.2.2.2.    By End-Use

9.3.3.United Kingdom Carbon Steel Tubing in Oil and Gas Lift Applications Market Outlook

9.3.3.1.      Market Size & Forecast

9.3.3.1.1.    By Value

9.3.3.2.      Market Share & Forecast

9.3.3.2.1.    By Type

9.3.3.2.2.    By End-Use

9.3.4.Italy Carbon Steel Tubing in Oil and Gas Lift Applications Market Outlook

9.3.4.1.      Market Size & Forecast

9.3.4.1.1.    By Value

9.3.4.2.      Market Share & Forecast

9.3.4.2.1.    By Type

9.3.4.2.2.    By End-Use

9.3.5.Spain Carbon Steel Tubing in Oil and Gas Lift Applications Market Outlook

9.3.5.1.      Market Size & Forecast

9.3.5.1.1.    By Value

9.3.5.2.      Market Share & Forecast

9.3.5.2.1.    By Type

9.3.5.2.2.    By End-Use

9.3.6.Netherlands Carbon Steel Tubing in Oil and Gas Lift Applications Market Outlook

9.3.6.1.      Market Size & Forecast

9.3.6.1.1.    By Value

9.3.6.2.      Market Share & Forecast

9.3.6.2.1.    By Type

9.3.6.2.2.    By End-Use

9.3.7.Belgium Carbon Steel Tubing in Oil and Gas Lift Applications Market Outlook

9.3.7.1.      Market Size & Forecast

9.3.7.1.1.    By Value

9.3.7.2.      Market Share & Forecast

9.3.7.2.1.    By Type

9.3.7.2.2.    By End-Use

10.      South America Carbon Steel Tubing in Oil and Gas Lift Applications Market Outlook

10.1. Market Size & Forecast

10.1.1.     By Value

10.2. Market Share & Forecast

10.2.1.     By Type

10.2.2.     By End-Use

10.2.3.     By Country

10.3. South America: Country Analysis

10.3.1.     Brazil Carbon Steel Tubing in Oil and Gas Lift Applications Market Outlook

10.3.1.1.   Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2.   Market Share & Forecast

10.3.1.2.1. By Type

10.3.1.2.2. By End-Use

10.3.2.     Colombia Carbon Steel Tubing in Oil and Gas Lift Applications Market Outlook

10.3.2.1.   Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2.   Market Share & Forecast

10.3.2.2.1. By Type

10.3.2.2.2. By End-Use

10.3.3.     Argentina Carbon Steel Tubing in Oil and Gas Lift Applications Market Outlook

10.3.3.1.   Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2.   Market Share & Forecast

10.3.3.2.1. By Type

10.3.3.2.2. By End-Use

10.3.4.     Chile Carbon Steel Tubing in Oil and Gas Lift Applications Market Outlook

10.3.4.1.   Market Size & Forecast

10.3.4.1.1. By Value

10.3.4.2.   Market Share & Forecast

10.3.4.2.1. By Type

10.3.4.2.2. By End-Use

11.      Middle East & Africa Carbon Steel Tubing in Oil and Gas Lift Applications Market Outlook

11.1. Market Size & Forecast

11.1.1.     By Value

11.2. Market Share & Forecast

11.2.1.     By Type

11.2.2.     By End-Use

11.2.3.     By Country

11.3. Middle East & Africa: Country Analysis

11.3.1.     Saudi Arabia Carbon Steel Tubing in Oil and Gas Lift Applications Market Outlook

11.3.1.1.   Market Size & Forecast

11.3.1.1.1. By Value

11.3.1.2.   Market Share & Forecast

11.3.1.2.1. By Type

11.3.1.2.2. By End-Use

11.3.2.     UAE Carbon Steel Tubing in Oil and Gas Lift Applications Market Outlook

11.3.2.1.   Market Size & Forecast

11.3.2.1.1. By Value

11.3.2.2.   Market Share & Forecast

11.3.2.2.1. By Type

11.3.2.2.2. By End-Use

11.3.3.     South Africa Carbon Steel Tubing in Oil and Gas Lift Applications Market Outlook

11.3.3.1.   Market Size & Forecast

11.3.3.1.1. By Value

11.3.3.2.   Market Share & Forecast

11.3.3.2.1. By Type

11.3.3.2.2. By End-Use

11.3.4.     Turkey Carbon Steel Tubing in Oil and Gas Lift Applications Market Outlook

11.3.4.1.   Market Size & Forecast

11.3.4.1.1. By Value

11.3.4.2.   Market Share & Forecast

11.3.4.2.1. By Type

11.3.4.2.2. By End-Use

12.      Asia-Pacific Carbon Steel Tubing in Oil and Gas Lift Applications Market Outlook

12.1. Market Size & Forecast

12.1.1.     By Value

12.2. Market Share & Forecast

12.2.1.     By Type

12.2.2.     By End-Use

12.2.3.     By Country

12.3. Asia-Pacific: Country Analysis

12.3.1.     China Carbon Steel Tubing in Oil and Gas Lift Applications Market Outlook

12.3.1.1.   Market Size & Forecast

12.3.1.1.1. By Value

12.3.1.2.   Market Share & Forecast

12.3.1.2.1. By Type

12.3.1.2.2. By End-Use

12.3.2.     India Carbon Steel Tubing in Oil and Gas Lift Applications Market Outlook

12.3.2.1.   Market Size & Forecast

12.3.2.1.1. By Value

12.3.2.2.   Market Share & Forecast

12.3.2.2.1. By Type

12.3.2.2.2. By End-Use

12.3.3.     Japan Carbon Steel Tubing in Oil and Gas Lift Applications Market Outlook

12.3.3.1.   Market Size & Forecast

12.3.3.1.1. By Value

12.3.3.2.   Market Share & Forecast

12.3.3.2.1. By Type

12.3.3.2.2. By End-Use

12.3.4.     South Korea Carbon Steel Tubing in Oil and Gas Lift Applications Market Outlook

12.3.4.1.   Market Size & Forecast

12.3.4.1.1. By Value

12.3.4.2.   Market Share & Forecast

12.3.4.2.1. By Type

12.3.4.2.2. By End-Use

12.3.5.     Australia Carbon Steel Tubing in Oil and Gas Lift Applications Market Outlook

12.3.5.1.   Market Size & Forecast

12.3.5.1.1. By Value

12.3.5.2.   Market Share & Forecast

12.3.5.2.1. By Type

12.3.5.2.2. By End-Use

12.3.6.     Thailand Carbon Steel Tubing in Oil and Gas Lift Applications Market Outlook

12.3.6.1.   Market Size & Forecast

12.3.6.1.1. By Value

12.3.6.2.   Market Share & Forecast

12.3.6.2.1. By Type

12.3.6.2.2. By End-Use

12.3.7.     Malaysia Carbon Steel Tubing in Oil and Gas Lift Applications Market Outlook

12.3.7.1.   Market Size & Forecast

12.3.7.1.1. By Value

12.3.7.2.   Market Share & Forecast

12.3.7.2.1. By Type

12.3.7.2.2. By End-Use 

13.      Market Dynamics

13.1. Drivers

13.2. Challenges

14.      Market Trends and Developments

15.      Company Profiles

15.1.  Marcegaglia Steel S.p.A.

15.1.1.     Business Overview

15.1.2.     Key Revenue and Financials  

15.1.3.     Recent Developments

15.1.4.     Key Personnel/Key Contact Person

15.1.5.     Key Product/Services Offered

15.2.  Nippon Steel Corporation

15.2.1.     Business Overview

15.2.2.     Key Revenue and Financials  

15.2.3.     Recent Developments

15.2.4.     Key Personnel/Key Contact Person

15.2.5.     Key Product/Services Offered

15.3.  ArcelorMittal S.A.

15.3.1.     Business Overview

15.3.2.     Key Revenue and Financials  

15.3.3.     Recent Developments

15.3.4.     Key Personnel/Key Contact Person

15.3.5.     Key Product/Services Offered

15.4.  Vallourec S.A.

15.4.1.     Business Overview

15.4.2.     Key Revenue and Financials  

15.4.3.     Recent Developments

15.4.4.     Key Personnel/Key Contact Person

15.4.5.     Key Product/Services Offered

15.5.  Tenaris S.A.

15.5.1.     Business Overview

15.5.2.     Key Revenue and Financials  

15.5.3.     Recent Developments

15.5.4.     Key Personnel/Key Contact Person

15.5.5.     Key Product/Services Offered

15.6.  Webco Industries, Inc.

15.6.1.     Business Overview

15.6.2.     Key Revenue and Financials  

15.6.3.     Recent Developments

15.6.4.     Key Personnel/Key Contact Person

15.6.5.     Key Product/Services Offered

15.7.  U.S. Steel Tubular Products, Inc.

15.7.1.     Business Overview

15.7.2.     Key Revenue and Financials  

15.7.3.     Recent Developments

15.7.4.     Key Personnel/Key Contact Person

15.7.5.     Key Product/Services Offered

15.8.  JFE Holdings, Inc.

15.8.1.     Business Overview

15.8.2.     Key Revenue and Financials  

15.8.3.     Recent Developments

15.8.4.     Key Personnel/Key Contact Person

15.8.5.     Key Product/Services Offered

15.9.  SB International, Inc.

15.9.1.     Business Overview

15.9.2.     Key Revenue and Financials  

15.9.3.     Recent Developments

15.9.4.     Key Personnel/Key Contact Person

15.9.5.     Key Product/Services Offered

15.10.   Sandvik AB

15.10.1.   Business Overview

15.10.2.   Key Revenue and Financials  

15.10.3.   Recent Developments

15.10.4.   Key Personnel/Key Contact Person

15.10.5.   Key Product/Services Offered

16.      Strategic Recommendations

17.      About Us & Disclaimer

Figures and Tables

Frequently asked questions

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The market size of the Global Carbon Steel Tubing in Oil and Gas Lift Applications Market was USD 6.16 billion in 2023.

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The External Coated by type segment demonstrated significant dominance in 2023. The surge in demand for externally coated carbon steel tubing is largely propelled by the growing need for solutions that resist corrosion. Given that oil and gas wells frequently encounter corrosive substances like hydrogen sulfide, brine, and various aggressive chemicals, the demand for corrosion-resistant options is escalating.

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North America dominated the market in 2023. North America's vast shale gas reserves present substantial opportunities for carbon steel tubing manufacturers catering to the oil and gas industry. The region's robust industrial base and ongoing investments in energy infrastructure contribute to the steady growth of the carbon steel tubing market.

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Technological Advancements in Oil & Gas Lift Systems, Increasing demand for energy and Growing exploration activities is one of the major drivers for the Global Carbon Steel Tubing in Oil and Gas Lift Applications Market.

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Sakshi Bajaal

Business Consultant
Press Release

Carbon Steel Tubing in Oil and Gas Lift Applications Market is expected to grow at a CAGR of 3.10% through 2029

Jun, 2024

Global Carbon Steel Tubing in Oil and Gas Lift Applications Market is expected to grow owing to ever-increasing global demand for energy, driven by population growth, industrialization, and urbanizat