Oil Country Tubular Goods Market

The global Oil Country Tubular Goods market is likely to witness a CAGR of over 7% from 2014 to 2019. Asia Pacific represents the largest market, followed by North America. The emerging markets include South America and Europe with increase in the number of exploration and production activities.

The OCTG market includes few dominant global players. The key players include Tenaris (Luxembourg), Vallourec (France), TMK group (Russia), United States Steel Corporation (U.S.), Nippon Steel and Sumitomo Metal Corporation (Japan). The top three players that include the above accounted for more than two-thirds of the market in 2012 by revenue, while the top five players accounted for about 80% share.

Tenaris SA (Luxembourg) is the market leader with around one-third of the total market share across the globe. It operates in the OCTG market through its tubes segment, which is involved in the production and sale of both seamless and welded steel tubular products and related services catering to the needs of the oil and gas industry. Its principal products include casing, tubing, line pipe, and mechanical and structural pipes.

Tenaris SA has a strong global presence with manufacturing facilities and service centres in more than 20 countries across the globe. The company has a stable financial structure to carry out mergers and acquisitions in the market. It offers a wide variety of products and services in the oil country tubular goods market, thus, maintaining its position as a market leader. The company has employed strategies such as pursuing strategic investment opportunities, expand its range of products and develop new high-value products, secure production inputs along with reducing manufacturing costs, and diversifying its offerings to include technical and pipe management services.

Related Reports:

Oil Country Tubular Goods Market by Grade (API, Premium), by Product (Seamless, ERW), & by Geography (North America, South America, Europe, Asia-Pacific, Africa, and Middle East) - Global Trends & Forecast to 2019

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