Oil Country Tubular Goods (OCTG) Market – Global Industry Analysis and Forecast (2024-2030)

The objective of the report is to present a comprehensive analysis of the Oil Country Tubular Goods Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

Oil Country Tubular Goods (OCTG) Market – Global Industry Analysis and Forecast (2024-2030)

As commodities recover from their number of the co-price crash, activity in the oil and gas sector has begun to strengthen. As oil and gas prices have recovered, firms have boosted their investment in oil and gas projects that had previously been stopped or delayed. With increased activity following the recovery, tubular product suppliers in oil-producing countries are projected to benefit. Increased drilling activity is also being driven by increased competition among petroleum companies around the world.

Oil Country Tubular Goods (OCTG) Market – Global Industry Analysis and Forecast (2024-2030)

North America, which includes the United States, Canada, and Mexico, has the greatest market share accounting for 36.3% in 2023. As of 2023, the United States was the world's greatest crude oil production. The utilization of horizontal and directional drilling activities has increased in the United States' shale drilling locations over the last decade.