Carbon Steel Tubing In Oil And Gas Lift Applications Market

Carbon Steel Tubing in Oil and Gas Lift Applications Market: North America Anticipated to Witness Significant Increase in Demand over the Forecast Period: Global Industry Analysis 2013–2017 and Opportunity Assessment 2018–2028

  • 2018-09-14
  • REP-GB-7389
  • 223 pages
  • PDF PPT EXCEL
 Carbon Steel Tubing In Oil And Gas Lift Applications Market

An Incisive, In-depth Analysis on the Carbon Steel Tubing In Oil And Gas Lift Applications Market

This study offers a comprehensive, 360 degree analysis on the Carbon Steel Tubing In Oil And Gas Lift Applications market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Carbon Steel Tubing In Oil And Gas Lift Applications market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.

Lift application in oil and gas industry is a method of artificial lifting of fluids from the oil wells in which carbon steel tubes are mostly used. The oil & gas industry is channelizing efforts to facilitate recovery from the slowdown which will help to boost the demand for carbon steel tubes over the forecast period. The global Carbon Steel Tubing in Oil & Gas Lift application market is estimated to be valued at US$4,799.5 Mn by the end of 2018 and is expected to reach US$7,029.8 Mn by the end of 2028 while expanding at a CAGR of 3.9% over the forecast period. The global carbon steel tubing in oil & gas lift applications market is anticipated to represent incremental opportunity worth US$ 2,230.3 Mn between 2018 and 2028.

Horizontal Wells Are Gaining Momentum over Vertical Wells Globally

The production of shale gas is majorly conducted by four countries globally, which are the U.S., Canada, China and Argentina. These countries are commercially producing either shale gas or crude oil from tight oil. It is expected the growth in this industry will lead to the growth of carbon steel tubing in oil and gas lift application market.

The growth momentum for horizontal wells in oil and gas lift applications picked up between 2011-12 and reached its maximum production rate by 2014-15. However, the oil and gas operators have halted the oil and gas drilling operations and investments due to low crude oil prices. The ongoing recovery of oil and gas industry will attract more investment over the forecast period, which will leads to the growth of carbon steel tubes market in oil and gas lift application.

The hydraulically fractured wells accounted for nearly 70% of oil and gas wells drilled in 2016-17. In addition to that, horizontal wells have more drilled footage than vertical wells. This is creating opportunities for the manufacturers and suppliers of carbon steel tubing in oil and gas upstream operations.

Replacement of Legacy Tubing to Carbon Steel Tubing

A tube functions as a medium of conveyance of important liquids and gaseous materials over long distances and owing to various external factors, is susceptible to deterioration over time. Unchecked damages in aged pipelines can lead to leakages, resulting in loss of materials as well pollution to the environment. Replacement of such aged tubes is mandatory and the demand for replacement has been on a steady rise over the past few years as is evident from the gas distribution companies in the U.S. which are replacing their older worn-out tubes with new high strength plastic tubes at the rate of around 40,000 kilometers on a yearly basis, according to a 2017 report by the American Gas Association. Cast and wrought iron tubes, which happen to be the oldest known pipe material type, are used for the purpose of material transportation, especially in the oil and gas sector, and are now being replaced by steel tubes.

North America Is Expected to Remain the Dominant Region in the Carbon Steel Tubing in Oil and Gas Lift Application Market over the Forecast Period

On the basis of geography, the global Carbon steel tubing in oil and gas lift application market is segmented into North America, Latin America, Western Europe, Eastern Europe, South East Asia & Pacific, China, India, Middle East & Africa and Japan. The North America Carbon steel tubing in oil and gas lift application market accounts for a major value share and is projected to retain its dominance in the global carbon steel tubing in oil and gas lift application market over the forecast period. The U.S. carbon steel tubing in oil and gas lift application market is expected to account for 77% market share in the North America market, by value, by the end of 2018, projecting a CAGR of 4.2% between 2018 and 2028. The Carbon steel tubing in oil and gas lift application in Canada is expected to represent a total incremental opportunity of US$ 270.9 Mn between 2018 and 2028.

Key Market Participants Carbon Steel Tubing in Oil and Gas Lift Application

The report highlights some of the top companies operating in the carbon steel tubing in oil & gas lift applications market, such as Sandvik AB, ArcelorMittal S.A., Nippon Steel & Sumitomo Metal Corporation, Marcegaglia, Vallourec S.A., Tenaris S.A., Webco Industries Inc., U.S. Steel Tubular Products, JFE Holdings, Inc., SB International, Inc., CONTINENTAL ALLOYS & SERVICES Inc.

Prominent manufacturers of carbon steel tubing in oil and gas lift application are found to be involved in acquisition activities to enhance their market presence across the carbon steel tubing in oil and gas lift application market. Also, a well-structured and efficient supply chain along with an improved sales network in oil and gas industry are the major growth strategies being opted by carbon steel tubing in oil and gas lift application manufacturers for reaching out to end users.

Future Market Insights offers a 10-year forecast for the Carbon Steel Tubing in Oil & Gas Lift Application between 2018 and 2028. In terms of value, the market is expected to register a CAGR of 3.9% during the forecast period (2018–2028). The main objective of the report is to offer insights on the advancements in the Global carbon steel tubing in oil & gas lift application. The study provides a detailed market analysis of the dynamics that are expected to influence the current environment and future status of the carbon steel tubing in oil & gas lift application over the forecast period. The primary objective of this report is to offer updates on trends, drivers, restraints, value forecast and opportunities for manufacturers operating in the carbon steel tubing in oil & gas lift application.

A section of the report discusses how the overall competition in the market is steadily increasing. It discusses various factors that are shaping internal as well as external competition in the market. The sales of carbon steel tubing in oil & gas lift application is expected to grow at a rapid pace in near future. Moreover, the rapid growth of the oil and gas industry, economic recovery and rising demand for carbon steel tubing in oil & gas lift application is expected to aid the growth of the carbon steel tubing in oil & gas lift application market.

The report provides detailed market share analysis of the carbon steel tubing in oil & gas lift application on the basis of key manufacturers. It also provides he market outlook for 2018–2028 and sets the forecast within the context of the report.

Key Segments Covered

By Outer Diameter    

  • 60-120 mm
  • 121-250 mm

By Coating

  • Internally Coated
  • Externally Coated

By End Use    

  • Onshore
  • Offshore

By Region

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • Asia Pacific (APAC)
  • Middle East & Africa (MEA)

A detailed analysis has been provided for every segment in terms of market size for carbon steel tubing in oil & gas lift application.

Carbon steel tubing in oil and gas lift application: Research Methodology

For Carbon steel tubing in oil and gas lift application data analysis, we have considered 2017 as the base year, with market numbers estimated for 2018 and forecast made for 2018–2028. The report considers the market size of the Carbon steel tubing in oil and gas lift application at a global level and splits & evaluates the market at a regional level. The forecast assesses the total revenue (US$ Mn) of the global carbon steel tubing in oil and gas lift application. In order to provide an accurate forecast, we started by sizing up the current market, which forms the basis of how the global carbon steel tubing in oil and gas lift application is expected to develop in the future. The critical market data, including the base number and segment splits, was devised through in-depth secondary research. This data was then triangulated on the basis of different verticals, considering both supply side and demand side drivers and other dynamics operating in various regional carbon steel tubing in oil and gas lift applications, along with primary interviews of carbon steel tubing in oil and gas lift application manufacturers, distributors & suppliers and industry experts. The forecast presented in the report evaluates the actual market size (US$ Mn) in 2017 with regard to carbon steel tubing in oil and gas lift application  and the expected market value in the global carbon steel tubing in oil and gas lift application over the forecast period.

We have also analyzed the different segments of the global carbon steel tubing in oil and gas lift application in terms of basis point share (BPS) to understand an individual segment’s relative contribution to market growth. This detailed level of information is important for identifying the various key trends governing the global carbon steel tubing in oil and gas lift application. The report also analyses the global carbon steel tubing in oil and gas lift application based on the absolute dollar opportunity. This is usually overlooked while estimating the market forecast; however, from a business development perspective, it is essential to identify absolute dollar opportunity as it is crucial to identify potential resources in the carbon steel tubing in oil and gas lift application. Moreover, FMI has developed a market attractiveness index to understand the key segments in terms of their performance and growth in the global carbon steel tubing in oil and gas lift application. The market attractiveness index would help clients to identify real market opportunities in the global Carbon steel tubing in oil and gas lift application.

Carbon Steel Tubing In Oil And Gas Lift Applications Market Reports - Table of Contents

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