Thursday 23 April 2015, Amsterdam
The new report, now available on ASDReports, recognizes the following companies as the key players in the Global OCTG Market: Nippon Steel and Sumitomo Metal Corp., Tenaris S.A, TMK Group, United States Steel Corp. and Vallourec S.A.
Other Prominent Vendors in the market are: ACE O.C.T.G., Benteler International, Cressman Tubular Products, Kelly Pipe, Lone Star Technologies and Tubular Services.
Commenting on the report, an analyst from the report's team said: “One major trend in the market is increased investment in unconventional oil and gas resources. Many vendors and governments are investing in unconventional oil and gas resources to increase their production to meet growing energy demands.”
According to the report, one of the major drivers in this market is the increase in oil and gas exploration because of growing energy demand worldwide. Increased onshore and offshore exploration and production and rising numbers of onshore and offshore wells have raised OCTG demand.
Further, the report states that the lack of a skilled workforce is one of the major challenges confronting the market. OCTG require highly skilled labor and expertise for wellbore drilling, production, and operational setup. Regional and local vendors find it difficult to provide the required service within the specified time while maintaining minimal quality standards.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.