Home / Businesswire / Global Oil Country Tubular Goods Market (2018-2022) Forecast to Grow at a CAGR of 5.2% – Increase in Global Rig Count is Driving the Market – ResearchAndMarkets.com

Global Oil Country Tubular Goods Market (2018-2022) Forecast to Grow at a CAGR of 5.2% – Increase in Global Rig Count is Driving the Market – ResearchAndMarkets.com

Oil Country Tubular Goods Market 2018-2022"
report has been
added to ResearchAndMarkets.com's offering.

The analysts forecast the global oil country tubular goods market to
grow at a CAGR of 5.2% during the period 2018-2022.

The report has been prepared based on an in-depth market analysis with
inputs from industry experts. The report covers the market landscape and
its growth prospects over the coming years. The report also includes a
discussion of the key vendors operating in this market.

One trend in the market is new oil and gas discoveries. Energy demand is
rising continuously owing to the increase in urbanization rate in
developing economies. Continuous exploration activities are required by
oil and gas companies to meet the rising consumption of individuals. The
rationale behind exploration activities is about sustaining in the
market along with increasing profit and gaining a competitive edge.

According to the report, one driver in the market is increase in global
rig count. The recent crude oil price slump that started in mid-2014
severely affected the upstream industry. However, crude oil prices have
now started to increase and are in the range of $50/bbl-60/bbl. The
decline in upstream operations was evident from the fact that the global
active rig count had fallen dramatically. Reduced operations worldwide
impacted major oil and gas exploration as well as service provider
companies. With the crude oil prices on the path of recovery, upstream
operations have started to gain momentum.

Further, the report states that one challenge in the market is decline
in investments in the upstream sector. Rapid decline in crude oil prices
starting mid-2014 triggered massive withdrawal of investments and cost
reductions by various upstream companies worldwide. During 2014-2016, as
per the International Energy Agency (IEA), investments in the upstream
segment of the oil and gas industry witnessed a 44% decline.

Key Vendors

  • ArcelorMittal
  • Nippon Steel & Sumitomo Metal
  • Tenaris
  • TMK
  • United States Steel
  • Vallourec

Key Topics Covered:

Part 01: Executive Summary

Part 02: Scope of the Report

Part 03: Research Methodology

Part 04: Introduction

Part 05: Market Landscape

Part 06: Market Sizing

Part 07: Five Forces Analysis

Part 08: Market Segmentation by Product

Part 09: Customer Landscape

Part 10: Regional Landscape

Part 11: Decision Framework

Part 12: Drivers and Challenges

Part 13: Market Trends

Part 14: Vendor Landscape

Part 15: Vendor Analysis

For more information about this report visit https://www.researchandmarkets.com/research/rxgzjl/global_oil?w=4


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