Dublin, Jan. 6, 2015 (GLOBE NEWSWIRE) -- Research and Markets (http://www.researchandmarkets.com/research/8zvd82/oil_country) has announced the addition of the "Oil Country Tubular Goods Market by Grade, by Product, & by Geography - Global Trends & Forecast to 2019" report to their offering.
Oil Country Tubular Goods (OCTG) are critical components in the production of oil and gas from the reservoir. The appropriate selection of OCTG can reduce the chances of any hazard, minimize risk, and also save cost.
Oil country tubular goods are required throughout the lifecycle of an oil and gas well. The ever-increasing exploration and production activities across the globe and new areas of unconventional resources are the main drivers for the growth of the OCTG market. However, issues associated with the cyclical nature of tube market and emphasis on renewable sources of energy will slightly affect the growth of this market. With competition growing vigorous and increase in concern for environmental safety, the companies have started differentiating the products for OCTG market. These reasons will result in the market witnessing a higher growth rate in the demand for premium product type such as OCTG.
The demand for OCTG is driven by high exploration and production activities, growth in the proven shale reserves, and escalating investments from the oil and gas operators. The trend is set to continue with the current surge in offshore activities and shale reserve exploratory activities. The global OCTG market is thereby expected to grow to approximately $59 billion by 2019, at a CAGR of more than 7% from 2014 to 2019.
The OCTG market is segmented in six regions, namely North America, South America, Europe, Africa, Asia-Pacific, and the Middle East. The OCTG market is further segmented on the basis of major countries in the region.
Geographically, Asia-Pacific and North America are the largest markets which have grown rapidly in the past decade. In Asia-Pacific, China is the largest market which will continue to dominate the OCTG industry. North America follows the Asia-Pacific market with U.S. being the most influential player due to activities in abundant shale reserves. These regions are likely to continue to dominate in future. The South-American market will witness the highest growth rate; Europe and Africa will also develop with a decent CAGR.
We have also profiled the leading players of this industry with their recent developments and other strategic industry activities. These include Tenaris (Luxembourg), Vallourec (France), TMK group (Russia), United States Steel Corporation (U.S.), Nippon Steel and Sumitomo Metal Corporation (Japan), National Oilwell Varco(NOV)(U.S.), JFE Steel Corporation(Japan), Jindal Saw Limited (India), MRC Global (U.S.) and ArcelorMittal (Luxembourg).
Key Topics Covered:
2 Executive Summary
3 Premium Insights
4 Market Overview
5 Oil Country Tubular Goods Market, By Geography
6 Oil Country Tubular Goods, By Product
7 Oil Country Tubular Goods Market, By Grade
8 Competitive Landscape
9 Company Profiles
- Jfe Steel Corporation
- Jindal Saw Ltd.
- Mrc Global
- National Oilwell Varco (Nov)
- Nippon Steel & Sumitomo Metal Corporation
- Tenaris Sa
- Tmk Group
- United States Steel (Uss) Corporation
For more information visit http://www.researchandmarkets.com/research/8zvd82/oil_country
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Source:Research and Markets