Oil Country Tubular Goods Market in Indonesia by Product and Application - Forecast and Analysis 2021-2025

  • Published: Jun 2021
  • Pages: 120
  • SKU: IRTNTR44605

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The oil country tubular goods (OCTG) market in Indonesia has the potential to grow by USD 126.66 million during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 6.67%.

This oil country tubular goods market research report of Indonesia provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by product (seamless and welded) and application (onshore and offshore). The oil country tubular goods market report of Indonesia also offers information on several market vendors, including Aristirta Elprima Putra, Besmindo Group, National Oilwell Varco Inc., Nippon Steel Corp., PAO TMK, PT Bumi Mega Primatama, PT Citra Tubindo Tbk, Sumitomo Corp., Tenaris SA, and The Weir Group Plc among others.

What will the Oil Country Tubular Goods (OCTG) Market Size in Indonesia be in 2021?

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Oil Country Tubular Goods (OCTG) Market in Indonesia: Key Drivers and Trends

Based on our research output, there has been a negative impact on the market growth post COVID-19 era. The increase in rig count is notably driving the OCTG market growth in Indonesia, although factors such as lack of sufficient investment in the upstream oil and gas sector may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the oil country tubular goods industry in Indonesia get your FREE report sample now.

  • The increase in rig count will fuel the growth of the oil country tubular goods market size in Indonesia.
  • The rig count in Indonesia increased from 7 in November 2016 to 27 in April 2018. Hence, there has been an increase in the oil rig count in Indonesia.
  • In November 2018, Japan Drilling Indonesia entered into a drilling contract with Premier Oil Natuna Sea offshore Indonesia. In May 2019, Japan Drilling Co started drilling an offshore well in Indonesia using the Hakuryu-11 jack-up drilling rig.
  • With the increase in the rig count, there has been an increase in the E&P activities in Indonesia. This has resulted in an increase in the drilling of wells, which has created the demand for the equipment required during oil and gas E&P activities, thus driving the OCTG market in Indonesia. 
  • The rise in offshore E&P activities will drive the oil country tubular goods market growth in Indonesia.
  • With the recovery in crude oil prices since the third quarter of 2016, there has been a revival of the upstream oil and gas sector in Indonesia, as well as other countries in the world.
  • There has been a significant increase in demand for oil in the country, owing to economic development.
  • To increase the production of oil in Indonesia, E&P activities are being shifted from onshore to more remote and technically challenging areas like deepwater locations in eastern Indonesia. This is because offshore reservoirs are generally larger and provide supply for a longer period of time as compared with onshore reservoirs. 

This oil country tubular goods market analysis report of Indonesia also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on the trends and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Oil Country Tubular Goods (OCTG) Market Vendors in Indonesia?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Aristirta Elprima Putra
  • Besmindo Group
  • National Oilwell Varco Inc.
  • Nippon Steel Corp.
  • PAO TMK
  • PT Bumi Mega Primatama
  • PT Citra Tubindo Tbk
  • Sumitomo Corp.
  • Tenaris SA
  • The Weir Group Plc

 

The OCTG market in Indonesia is fragmented and the vendors are deploying growth strategies such as collaborations and partnership agreements with oil and gas E&P companies to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the oil country tubular goods market forecast report of Indonesia for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

What are the Revenue-generating Product Segments in the Oil Country Tubular Goods (OCTG) Market in Indonesia?

Oil-Country-Tubular-Goods-(OCTG)-Market-In-Indonesia-Market-Share-by-Product-2020-2025

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The oil country tubular goods market share growth in Indonesia by the seamless segment will be significant during the forecast period. The superior mechanical properties of seamless OCTG, such as higher tensile strength, have resulted in their higher utilization in high-pressure drilling environments. As a result of their strong characteristics compared with the welded OCTG, seamless OCTG are being increasingly used in Indonesia, as the country has been moving to deepwater for the production of hydrocarbons. 

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the oil country tubular goods market size in Indonesia.

 

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What are the Key Factors Covered in this Oil Country Tubular Goods (OCTG) Market Report of Indonesia?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive oil country tubular goods market growth in Indonesia during the next five years
  • Precise estimation of the OCTG market size in Indonesia and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of oil country tubular goods market vendors in Indonesia 

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The oil country tubular goods (octg) market growth will increase by $51.81 million during 2019-2024.
The oil country tubular goods (octg) market is expected to grow at a CAGR of 2.63% during 2019-2024.
Technavio has segmented the oil country tubular goods (octg) market by product (Seamless and Welded) ,application (Onshore and Offshore) , and geographic (Afghanistan and Albania).
Aristirta Elprima Putra, Besmindo Group, Hunting Plc, Nippon Steel Corp., PAO TMK, PT Bumi Mega Primatama, PT Citra Tubindo Tbk, Sumitomo Corp., Tenaris SA, The Weir Group Plc are a few of the key vendors in the oil country tubular goods (octg) market.
Afghanistan will register the highest growth rate of 67.50% among the other regions. Therefore, the oil country tubular goods (octg) market in Afghanistan is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the oil country tubular goods (octg) market growth are:
  • Increase in rig count
The oil country tubular goods (octg) market vendors should focus on grabbing business opportunities from the seamless segment as it accounted for the largest market share in the base year.
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