Home Construction & Industrial Pipe Nigeria Oil Country Tubular Goods Market to 2027

Nigeria Oil Country Tubular Goods Market to 2027

Publisher: The Insight Partners
Publication Date: March, 2020
Construction & Industrial / Pipe
Pages: 126
Delivery Format: PDF

Country Analysis and Forecasts by Process (Seamless, and Welded); Product (Drill Pipe, Well Casing, and Production Tubing); Application (Onshore, and Offshore)

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Methodology
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The Nigeria oil country tubular goods market was worth US$ 440.51 million in 2019 and is projected to reach US$ 718.60 million by 2027; it is expected to grow at a CAGR of 6.5% during the forecast period.

The rising production of shale and a resulting hike in horizontal and unconventional drilling is one of the major driving factors of the Nigeria oil country tubular goods market. Shale oil and shale gas, much like crude oil and natural gas, are hydrocarbon commodities; the difference between them is the source from which they are extracted. Shale oil and shale gas are extracted from shale formations that lie below the surface of the earth via a horizontal drilling and hydraulic fracturing process in which water, sand, and chemical additives are injected under high pressure to create and maintain fractures in underground formations. They are referred to as unconventional sources of hydrocarbon resources, while traditional sources are called crude oil and natural gas in the Nigeria oil country tubular goods market. The development of shale resources seems to have finally brought solace to some of those countries who for years have been craving for energy self-sufficiency. The consequence of this is that there will be fewer oil imports from foreign countries on their side, some of which are located in volatile regions of the world. The effect on those foreign countries that export crude oil is that their income from oil exports will decline, and for those whose economies rely on the revenue from the selling these resources, it could spell doom for them as their primary source of income is cut short. Nigeria is one such country that finds itself in such a precarious situation. Despite the popularity of such a thought, one may have no other choice but to hold the same views. If, however, a holistic view of the whole scene is taken, one observes that the Nigerian economyÄX%$%Xs future vis-à-vis shale growth is not as grim as is commonly believed.

The Nigeria oil country tubular goods market is segmented into process, product, and application. Based on process, the Nigeria oil country tubular goods market is further segmented into seamless and welded. Based on product, the Nigeria oil country tubular goods market is further segmented into drill pipe, well casing, and production tubing. Based on application, the Nigeria oil country tubular goods market is further segmented into onshore and offshore.

The well-established market players operating in the Nigeria oil country tubular goods market include DAMAGIX GROUP; EVRAZ plc; Hunting Group; ILJIN STEEL CO.; LTD, JFE Steel Corporation; National Oilwell Varco, Inc.; OilPro Oil and Gas Limited; Tecon Oil Sevices Ltd; Tenaris; TMK; TPCO Enterprise, Inc.; VALLOUREC; and Baker Hughes Company.

The overall Nigeria oil country tubular goods market size has been derived using both primary and secondary sources. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the Nigeria oil country tubular goods market. It also provides an overview and forecast for the Nigeria oil country tubular goods market based on all the segmentations provided for Nigeria. Also, primary interviews were conducted with industry participants and commentators to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in oil country tubular goods across Nigeria.

Reasons to buy this report:
• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Nigeria oil country tubular goods market
• Highlights key business priorities in order to assist companies to realign their business strategies
• The key findings and recommendations highlight crucial progressive industry trends in the Nigeria oil country tubular goods market, thereby allowing players across the value chain to develop effective long-term strategies
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
• Scrutinize in-depth market trends and outlook coupled with the factors driving the market, as well as those hindering it
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

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