Lewes, DE -- (SBWIRE) -- 11/11/2016 -- Report forecast the global OCTG market to grow at a CAGR of 6.214% during the period 2016-2020.

The global oil country tubular goods market pertains to the family of consumables consisting of drill pipe, casing, and tubing that are extensively utilized in the global oil and gas operations. They refer to a class of steel pipe products that have varied applications across the upstream oil and gas industry. These goods are seamless or welded; however, a new segment of pipes is slowly evolving, which is neither of the above two mentioned classes.

The report covers the present scenario and the growth prospects of the global OCTG market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of the products in the market. It also includes the revenues generated from the replacement of previously used products.

The market is divided into the following segments based on geography:
- Americas
- APAC
- EMEA

According to the report, opening up of new avenues for oil and gas markets will drive growth in the market. As discussed in earlier sections, the era of easy oil is coming to an end. This has resulted not only in inflated costs of hydrocarbon acquisition but has also displaced oil drilling operations geographically. Much of the past century saw drilling operations being carried out at established locations worldwide. The major hydrocarbon-rich regions around the globe were identified in the early 20th century and most operations were based out of these areas for the next century or so. However, things have started to change significantly now and the E&P companies have started to look at unconventional avenues for hydrocarbon exploration.

Further, the report states that prolonged periods of lull in global steel prices may hinder the growth of the OCTG market. The global oil country tubular goods market is highly dependent on the state of the overall steel industry as the tubular goods are products forged in a steel plant. In the earlier section of the report, we discussed the boosting effects of the fall in the iron ore prices and a resultant reduction in raw material costs for the global oil country tubular goods market. However, the prolonged ebbs in the iron ore and steel prices have a significant cross-effect that is weighing down on the global oil country tubular goods market.

Global OCTG Market 2016-2020, 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.

key players in the global OCTG market: ArcelorMittal, NSSMC, Tenaris, TMK, and U.S. Steel

Other Prominent Vendors in the market are: ACE O.C.T.G, Benteler, Corpac Steel Products, ISMT, JFE Steel, Jindal Steel & Power, Tata Steel, and Vallourec.

Market driver
- Opening up of new avenues for oil and gas markets
- For a full, detailed list, view our report

Market challenge
- Prolonged periods of lull in global steel prices
- For a full, detailed list, view our report

Market trend
- Increase in drilling of horizontal and multilateral wells
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

Spanning over 65 pages and 32 Exhibits "Global Oil Country Tubular Goods Market 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market segmentation by product type, Geographical segmentation, Key leading countries, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Key vendor analysis, Appendix.

For more information Visit at: http://www.marketresearchreports.com/technavio/global-oil-country-tubular-goods-market-2016-2020

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