Oil country tubulars market expected to grow with oil and gas industry slow revival in 2017
Technavio has identified the top five leading vendors in their recent global oil country tubular goods market report.
“The current scenario of weaker oil prices will weigh down on the oil country tubular goods market significantly. However, the oil country tubular goods market is expected to grow in tandem with the broader oil and gas industry, which is expected to start a slow revival by 2017,” Thanikachalam Chandrasekaran, a lead analyst at Technavio oil and gas research.
The global oil country tubular goods market is highly fragmented with the presence of multiple global vendors. The market is highly competitive with players competing to gain greater market share.
With rising competition, the market is experiencing consolidation. The competitive environment in the market is predicted to intensify during the forecast period with increased product extensions in terms of size and technological innovations.
International players are predicted to grow inorganically during the forecast period by acquiring regional or local players.
Technavio energy research analysts have identified the following key vendors:
ArcelorMittal is a leading company in the integrated steel and mining sectors. The company and its subsidiaries produce flat carbon steel, stainless steel, and long carbon steel as well as process, finish, and distribute steel.
The company has extended product lines that meet the most stringent specifications to cater to customer requirements. They provide tubes and connections designed for oil and gas well equipment, which can meet all the challenges and difficulties in oil and gas exploration. The firm has a dedicated team that modifies connection designs to new sizes or specific requirements.
The company is an integrated steel manufacturing company. It operates through five business categories that include steelmaking and steel fabrication, chemical, engineering and construction, new materials, and systems solution businesses.
NSSMC is an important player in the Japanese seamless pipes industry. The company is a pioneer in developing high-performance oil country tubular goods. It uses advanced technologies and provides superior services for oil country tubular goods. The company provides a broad range of steel products for diverse industries.
It produces steel bars, wire rods, seamless casing and tubing, and steel products for rail. Its steel bars, wire rods, steel pipes, and steel tube units are used for application in automotive, construction, and industrial machinery.
The company designs, manufactures, and markets steel pipes in Europe and abroad. It is a leading manufacturer of steel pipe products and related services. Tenaris is an important vendor for the global oil country tubular goods market.
It provides a full range of high-quality products such as casings and tubings, drill pipes, premium connections, pipe accessories, sucker rods, and coiled tubing for all types of drilling and oil well activities.
The company offers all proprietary and API steel grades for more challenging E&P applications, including chrome, alloy, and high-alloy steels. The company provides three service pillars such as technical consulting services, pipe management services, and field services.
TMK is the largest producer of pipes in Russia. It is one of the top three pipe manufacturing companies worldwide. The company has manufacturing plants in Russia, the US, Romania, and Kazakhstan. It manufactures all types of pipes used in the oil and gas industry.
Its product portfolio includes oil country tubular goods, line pipes, seamless industrial pipes, large diameter welded pipes, and welded industrial pipes. The company is engaged in the production and commercialization of steel pipes for the oil and gas industry. Its native name is OAO TMK.
US Steel is one of the world’s largest steel manufacturing companies. It mainly serves the construction, containers, transportation, automotive, electrical, and oil and gas industries. Its product offerings include slabs, rounds, strip mill plates, sheets, and tin mill products.
US Steel is an important player in the global oil country tubular goods market. The company produces specially designed and manufactured oil country tubular goods to meet the requirements of challenging oil and gas environments. It provides a broad range of connections, casings and tubings, and accessories. It offers both oil country tubular goods casing and tubing services and rig site services.