Oil Country Tubular Goods (OCTG) Market in Indonesia to increase by USD 194.45 million between 2023 to 2028; the seamless segment is estimated to witness significant growth during the forecast period. – Technavio

NEW YORK, Nov. 10, 2023 /PRNewswire/ — The oil country tubular goods (OCTG) market in Indonesia size is expected to grow by USD 194.45 million from 2023 to 2028, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 8.42% during the forecast period. The increase in rig count is notably driving the oil country tubular goods (OCTG) market in Indonesia. However, factors such as environmental concerns related to drilling may impede market growth. The market is segmented based on Product (Seamless and Welded), Application (Onshore and Offshore), Grade Type (Premium grade and API grade), and Geography (APAC). Technavio provides a comprehensive report summary describing the market size and forecast along with research methodology. The sample report is available in PDF format for FREE! 

Key Segment Analysis
Based on the product, the seamless segment is estimated to witness significant growth during the forecast period. Seamless oil country tubular goods are made in specialized mills. Round steel billets through hot rolling, cold rolling, or cold drawn processes and specially produced ingots are employed in these mills. To capitalize on the market opportunity, players such as Tenaris have been supplying seamless oil country tubular goods in Indonesia. Given such helpful product characteristics and a rising number of offshore projects in Indonesia. This will demand the use of seamless oil country tubular goods due to the harsh environmental conditions, the seamless segment of the Indonesia – oil country tubular goods market is expected to grow significantly during the forecast period. To know additional highlights and key points on various market segments and their impact in coming years, View a PDF Sample Report.

Advances in oil-country tubular goods are an emerging market trend. Significant demand for oilfield tubular product connections to various specifications is a result of the growth of oil and gas exploration and production activities through unconventional sources and offshore locations. Since the operators require premium oil country tubular goods connections, vendors provide advanced, premium oil country tubular goods, which address long laterals, increased torque requirements, and high load limits while maintaining cost efficiency. 

Company Insights 
The oil country tubular goods (OCTG) market in Indonesia is fragmented, and the companies are deploying organic and inorganic growth strategies to compete in the market. The report analyzes the market’s competitive landscape and offers information on several market companies, including:
ArcelorMittal, Aristirta Elprima Putra, Besmindo Group, Hart Energy, Hunting Plc, JFE Holdings Inc., Nippon Steel Corp., NOV Inc., PAO TMK, PT Citra Tubindo Tbk, PT Indo Kaya Energi, PT Telaga Mas, PT Tridaya Esa Pakarti, PT Tubular Services Indonesia, PT. Bakrie Pipe Industries, Sumitomo Corp., Tenaris SA, Tenergy Equipment and Service Ltd., The Weir Group Plc, Vallourec SA

View a FREE PDF Sample Report to find additional highlights on the growth strategies adopted by companies and their product offerings.

Related Reports:

The oil country tubular goods market size is estimated to grow at a CAGR of 6.85% between 2022 and 2027. The market size is forecast to increase by USD 16.86 billion.

The Macadamia Market size is projected to increase by USD 998.22 million and the market size is estimated to grow at a CAGR of 9.71% between 2023 and 2028.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Product

Market Segmentation by Application

Market Segmentation by Grade Type

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Website: www.technavio.com

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SOURCE Technavio