Latest News- Oil Country Tubular Goods (OCTG) Market in Indonesia: Seamless is expected to lead the Product segment during 2025-2029

The Oil Country Tubular Goods (OCTG) Market in Indonesia is being driven by Increase in rig count

The Oil Country Tubular Goods (OCTG) Market in Indonesia is expected to grow at a CAGR of 7.8% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 178 million. The burgeoning oil and gas exploration and production (E&P) activities in Indonesia, particularly in unconventional sources and offshore locations, have driven a substantial demand for oil country tubular goods (OCTG) with enhanced specifications and superior performance. This demand stems from the complexities presented by numerous wells, long laterals, and the use of horizontal drilling techniques. As a result, vendors are supplying advanced, premium OCTG connections that cater to increased torque requirements, high load limits, and cost-efficiency. The need for non-standard diameter tubes and optimized premium connections has stimulated the expansion of the OCTG market in Indonesia. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Seamless
  • Welded
• Application
  • Onshore
  • Offshore
• Grade Type
  • Premium grade
  • API grade
• Material Type
  • Carbon Steel
  • Alloy Steel
  • Stainless Steel
• End-User
  • Oil
  • Gas
• Geography
  • Indonesia

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increase in rig count
• Increasing focus on unconventional oil and gas E and P activities
• Declining prices of raw materials

However, the market also witnesses some limitations, which are as follows:

• Environmental concerns related to drilling
• Fluctuations in crude oil prices
• Renewal of coal market in Indonesia

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Market Scope in Oil Country Tubular Goods (OCTG) Market in Indonesia Research Report

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Research Analysis Overview

The Oil Country Tubular Goods (OCTG) market in Indonesia caters to the demand for carbon steel, alloy steel, and stainless steel tubing used in high-pressure applications and high-temperature casing. These tubing types offer sour gas resistance and H2S resistance for enhanced pipeline integrity. Corrosion inhibitors, coating technologies, and anti-corrosion coatings are essential for prolonging tube life. Flow assurance, wellbore stability, sand control, artificial lift, downhole monitoring, real-time data acquisition, and subsea production are crucial aspects of OCTG applications. Offshore drilling, deepwater exploration, horizontal drilling, directional drilling, enhanced oil recovery, steam injection, gas injection, reservoir simulation, and data analytics are key areas driving market growth.

Market Research Overview

The upstream oil and gas sector, encompassing activities from exploration and drilling to production, relies heavily on the global oil and gas equipment and services market. This market comprises manufacturers and providers of drilling rigs, tubular goods including drill pipe, production pipe, and line pipe, as well as related services. According to Technavio, market growth is underpinned by escalating energy demand and the expanding power industry, which in turn fuels the procurement of drilling equipment. The global oil and gas equipment and services market is projected to expand at a moderate pace, with revenue generated by these key components contributing to its size.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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