Oil Country Tubular Goods Market Size

  • Report ID: 3234
  • Published Date: Dec 24, 2024
  • Report Format: PDF, PPT

Oil Country Tubular Goods Market Size

Oil Country Tubular Goods Market size was valued at USD 23.55 billion in 2024 and is likely to cross USD 59.57 billion by 2037, registering more than 7.4% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of oil country tubular goods is estimated at USD 25.03 billion.

The growth of the oil country tubular goods market can be attributed to the increasing demand for oil and gas, among other fossil fuels, backed by the ongoing industrial development and growing population.  The growing population requires more resources for survival, which leads to raised demand for energy sources. This is a major factor estimated to drive the market growth. Moreover, escalating investments from the oil and gas companies, along with rising exploration and production activities in the energy and power industry, is anticipated to boost the market growth. According to the U.S. Energy Information Administration (EIA) the global consumption of oil is estimated to be 92.2 million barrels per day of petroleum and other liquid fuels, in 2020. In addition to this, reduced oil services cost, combined with increased drilling activities across the globe, is projected to encourage the market growth.


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Author Credits:  Dhruv Bhatia


  • Report ID: 3234
  • Published Date: Dec 24, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of oil country tubular goods is estimated at USD 25.03 billion.

Oil Country Tubular Goods Market size was valued at USD 23.55 billion in 2024 and is likely to cross USD 59.57 billion by 2037, registering more than 7.4% CAGR during the forecast period i.e., between 2025-2037.

North America industry is estimated to dominate majority revenue share by 2037, propelled by high demand for crude oil, along with high production of petroleum products, backed by presence of large number of oil reserves in the region.

The major players in the market are JFE Steel Corporation, TMK Group, NOV Inc., United States Steel Corporation, Weatherford International plc, Vallourec, and others.
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