| Study Period | 2020 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Historical Data Period | 2020 - 2023 |
| CAGR | 5.00% |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Africa Oil Country Tubular Goods Market Analysis
The Africa Oil Country Tubular Goods Market is expected to register a CAGR of greater than 5% during the forecast period.
- The premium grade OCTG products are likely to witness higher CAGR on account of increasing focus on gas wells, horizontal wells, high pressure (above 5,000 psi) and high temperature (above 250 F) wells. The requirement of premium grade OCTG products is higher in harsher and challenging upstream operation which is prevalent in the Africa region.
- Liberalization of oil and gas by major countries in Africa to increase the foreign investment and thereby helping the oil and gas industry to grow is likely to provide an opportunity for the OCTG market in the region.
- Nigeria is one of the major oil and gas producers in the region, in 2019. The economy of Nigeria is highly dependent on oil & gas sector, which accounts for major share of country's GDP. Hence, Nigeria is expected to be the largest market in the region for OCTG.
Africa Oil Country Tubular Goods Market Trends
Premium Grade OCTG to Dominate the Market
- The premium grade OCTG market is in the growing phase on account of increasing demand for the same from upstream activities. The premium grade applications are widespread in gas wells and high pressure and temperature wells.
- The exploration of natural gas is receiving huge impetus with surge in development of shale reserves. Moreover, the horizontal directional drilling has promulgated the production of natural gas from shale reserves, which, in turn, is a big boost for premium grade OCTG market in Africa.
- East Africa represents a region of growing importance for the oil & gas industry. This region, which had been relatively unexplored previously, is gradually gaining significance in the oil & gas map of the world and is expected to attract considerable investment in the future. Development of this region will in turn help in driving the growth of premium grade segment in the oil country tubular goods industry.
- Moreover, countries such as Nigeria, Angola, and Libya have huge reserves of crude oil and natural gas. With the recovery of crude oil prices, the upstream activities in the region are expected to witness growth during the forecast period, which is further expected to increase demand for premium grade OCTG.
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Nigeria Driving the Market Demand
- Nigeria is one of the largest and oldest oil producers in Africa. The oil and gas sector is one of the most important sectors in the country's economy, accounting for more than 90% of the country's exports and 80% of the Federal Government's revenue.
- Development of ultra-deepwater Egina oilfield by Total is one of the key projects, which started production in the first week of 2019. The Egina field may significantly boost the production and cash flow, in 2019, and continue onward, promulgating Africa's oil country tubular goods demand during the forecast period.
- Further, NNPC (Nigeria National Petroleum Corporation) has signed an agreement for seven Critical Gas Development Projects, to deliver around 3.4 bcf of gas per day, in order to bridge the medium-term supply gap, by 2020, on an accelerated basis.
- Hence, over the years, the country has been taking initiatives to increase their upstream oil & gas capabilities, especially with regard to drilling equipment and services, along with upgrading the pipelines for transportation. Therefore, the market for OCTG is expected to increase during the forecast period.
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Africa Oil Country Tubular Goods Industry Overview
The Africa oil country tubular goods (OCTG) market is moderately fragmented. Some of the key players in the market include National-Oilwell Varco Inc., Nippon Steel Corporation, Tenaris SA, ArcelorMittal SA, and Vallourec SA.
Africa Oil Country Tubular Goods Market Leaders
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National-Oilwell Varco Inc
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Nippon Steel Corporation
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Tenaris SA
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ArcelorMittal SA
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Vallourec SA
- *Disclaimer: Major Players sorted in no particular order
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Africa Oil Country Tubular Goods Industry Segmentation
The Africa oil country tubular goods (OCTG) market report include:
| Grade | Premium Grade |
| API Grade | |
| Geography | Nigeria |
| Angola | |
| Algeria | |
| Rest of Africa |
Grade
| Premium Grade |
| API Grade |
Geography
| Nigeria |
| Angola |
| Algeria |
| Rest of Africa |
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Africa Oil Country Tubular Goods Market Research FAQs
What is the current Africa Oil Country Tubular Goods (OCTG) Market size?
The Africa Oil Country Tubular Goods (OCTG) Market is projected to register a CAGR of greater than 5% during the forecast period (2025-2030)
Who are the key players in Africa Oil Country Tubular Goods (OCTG) Market?
National-Oilwell Varco Inc, Nippon Steel Corporation, Tenaris SA, ArcelorMittal SA and Vallourec SA are the major companies operating in the Africa Oil Country Tubular Goods (OCTG) Market.
What years does this Africa Oil Country Tubular Goods (OCTG) Market cover?
The report covers the Africa Oil Country Tubular Goods (OCTG) Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Africa Oil Country Tubular Goods (OCTG) Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Africa Oil Country Tubular Goods Industry Report
Statistics for the 2025 Africa Oil Country Tubular Goods (OCTG) market share, size and revenue growth rate, created by Mordor Intelligenceâ„¢ Industry Reports. Africa Oil Country Tubular Goods (OCTG) analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
