Oil Country Tubular Goods Sector: Growth Drivers and Challenges
Growth Drivers
- Increasing Demand for Oil and Gas
- Rising Exploration and Production Activities in The Energy and Power Industry
Challenges
- Fluctuating Prices of Crude Oil
- Constantly Depleting Oil Reserves
Oil Country Tubular Goods Market: Key Insights
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
7.4% |
|
Base Year Market Size (2024) |
USD 23.55 billion |
|
Forecast Year Market Size (2037) |
USD 59.57 billion |
|
Regional Scope |
|
Browse key industry insights with market data tables & charts from the report:
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.
