Oil Country Tubular Goods Market: Opportunity Analysis and Industry Forecast upto 2026

Oil country tabular goods (OCTG) is a family of the seamless rolled products which consists of casing, drill pipe, and tubing subjected to the loading conditions according to the specific applications. Oil & gas production and exploration activities are complicated processes and require sophisticated equipment and technology as this market is highly cyclical and volatile in nature. The fall in commodity prices have ripple effects on the oil & gas value chain.

Over the past few decades, the oil & gas industry has witnessed active drilling rig count, thereby creating demand for oilfield services across the globe. The decline in oil prices has decreased the demand for oil country tubular goods. With the recovery of crude prices, the oil country tubular goods (OCTG) market has witnessed positive growth which is driven by the rising shale production and hike in unconventional and horizontal drilling activity.

Oil Country Tubular Goods (OCTG) Market – Drivers and Restraints

Growing drilling activities is anticipated to drive the demand for OCTG over the forecast timeline. However, lack of skilled labor and high initial investment are expected to be major hindrances to the development of all verticals of the oil & gas industry. The major drop in oil prices in 2014 severely impacted the industry and undercut company revenues, thereby forcing sharp cutbacks in spending. The increasing demand for energy and production is one of the major factors driving the growth of the oil country tubular goods (OCTG) market.

Activities in the oil & gas sector have begun to strengthen as the commodities are recovering followed by the multi-year price rout. With oil & gas prices recovering, companies have increased their investment which were earlier stalled or delayed for the development of oil & gas projects. Oil country tubular goods suppliers are expected to benefit from the same with the increasing activities post recovery. The intense competition amongst producers of petroleum is also serving as a driver for the increasing drilling activity across the globe.

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The emergence of horizontal drilling methods and hydraulic fracturing technology in the past few years has significantly increased the demand for oil country tubular goods. Offshore oil & gas caters to a large part of the production revenue and the rising production of shale resources will drive the demand for OCTG goods over the forecast timeline.

Oil Country Tubular Goods (OCTG) Market – Segmentation

The global oil country tubular goods (OCTG) market can be segmented on the basis of manufacturing process, grade, and region. Based on manufacturing process, the oil country tubular goods (OCTG) market is classified into seamless and electric resistance welded. By grade, the oil country tubular goods (OCTG) market can be divided into Premium and API grade. In terms of region, the oil country tubular goods (OCTG) market can be segmented into North America, Asia Pacific, Europe, Middle East & Africa, and South America.

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North America accounted for major market share in 2017. Rig count has significantly decreased globally since 2014, thereby affecting the demand for oil field services in the past few years. North American rigs are still the highest in quantity as compared to the Middle East, followed by Latin America. Rig efficiency in the U.S. is rising as these are increasing at a significant rate owing to technological advancements. The consumption of OCTG per rig per month has doubled since 2012 which is driven by the greater drilling complexity and increased lateral lengths. The expansion of well production and new well drilling in the region is anticipated to drive the demand for oil country tubular products in the North America region over the forecast timeline.

Oil Country Tubular Goods (OCTG) Market – Key Players

Some of the major competitors of the global oil country tubular goods (OCTG) market are National-Oilwell Varco Inc, ArcelorMittal SA, Iljin Steel Co., TPCO Enterprise Inc., TMK Ipsco Enterprises Inc., Nippon Steel & Sumitomo Metal Corporation, U. S. Steel Tubular Products Inc., Tenaris SA, and Vallourec SA.

Internet of Things Testing Market: Latest Trends and Forecast Analysis up to 2025

The Internet of things (IoT) represents a giant network of interconnected devices or things that are embedded in the existing internet infrastructure. These things can include a variety of objects such as electronics devices, vehicles, equipment, sensors, and consumer appliances. The concept may signify the sharing of data and information with people and animals connected to the infrastructure in near-real time. The proliferation of connected devices and the soaring popularity of IoT among enterprises in developed and developing nations have led to the pressing need for Internet of Things testing mechanisms. Developing an effective IoT testing mechanism foregrounds evaluating key aspects such as compatibility and usability of the interconnected devices, security of the network, the connectivity, and overall performance of the system. Furthermore, enterprises implementing IoT should take into account the integration of new devices and technologies with the existing network. A number

Low Power Display Market: Projection of Each Major Segment over the Forecast Period 2017 - 2025

Low power display technology is treated separately from our modern world. High resolution displays with low power are considered by many consumers to represent the low power display technology. The development in optoelectronics and nanotechnology has changed the low power display market . The low power display market consumes of less power than plasma technologies and cathode ray tube (CRT). Low-power features have become essential for liquid crystal displays (LCDs) due to environmental concerns. The technology that saves energy by decreasing the power consumption of the backlight unit in a display panel is considered in in low power display technology. A low refresh-rate technology was introduced in order to further minimize power consumption in the display panel. The low refresh-rate was achieved by employing oxide thin-film transistors (Ox-TFTs) with extremely low leakage currents. However, flicker may be visible due to the current leakage through the liquid crystal (LC

Noise Suppression Components Market: Granular View of The Market from Various End-Use Segments

Noise suppression refers to the methods of reducing and eliminating the effects of unwanted and undesirable sound effects and electrical disturbances which occurs when the level of signal carrier is greater than the noise level. Noise causes intrusion in many electrical devices. However, there are rules to suppress noise, because noise which does not affect a particular electrical device may affect some other electrical device. Further, an electronic device is known as ‘emission’ if it is itself the source of unwanted noise and it is referred to as immunity if the concerned electronic device is the victim of unwanted noise. Electromagnetic interference (EMI) and electromagnetic compatibility (EMC) has made the issue of noise suppression important. Some of the examples of noise suppression components are electromagnetic interference suppression filter which is an electronic component which provides electromagnetic noise suppression techniques for electronic goods. The function of the e

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