NEW YORK, Jan. 29, 2025 /PRNewswire/ — Report with the AI impact on market trends – The global oil country tubular goods (OCTG) market in indonesia size is estimated to grow by USD 178 million from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of almost 7.8% during the forecast period. Increase in rig count is driving market growth, with a trend towards advances in oil country tubular goods. However, environmental concerns related to drilling poses a challenge. Key market players include ArcelorMittal, Aristirta Elprima Putra, Besmindo Group, Hart Energy, Hunting Plc, JFE Holdings Inc., Nippon Steel Corp., NOV Inc., PT Citra Tubindo Tbk, PT Indo Kaya Energi, PT Telaga Mas, PT Tridaya Esa Pakarti, PT Tubular Services Indonesia, Sumitomo Corp., Tenaris SA, Tenergy Equipment and Service Ltd., The Weir Group Plc, TMK, and Vallourec SA.
Technavio has announced its latest market research report titled Oil Country Tubular Goods (OCTG) Market in Indonesia 2025-2029
Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF
Oil Country Tubular Goods (OCTG) Market In Indonesia Scope
Report Coverage
Details
Base year
2024
Historic period
2019 – 2022
Forecast period
2025-2029
Growth momentum & CAGR
Accelerate at a CAGR of 7.8%
Market growth 2025-2029
USD 178 million
Market structure
Fragmented
YoY growth 2022-2023 (%)
7.3
Regional analysis
Indonesia
Performing market contribution
APAC at 100%
Key countries
Indonesia
Key companies profiled
ArcelorMittal, Aristirta Elprima Putra, Besmindo
Group, Hart Energy, Hunting Plc, JFE Holdings
Inc., Nippon Steel Corp., NOV Inc., PT Citra
Tubindo Tbk, PT Indo Kaya Energi, PT Telaga
Mas, PT Tridaya Esa Pakarti, PT Tubular Services
Indonesia, Sumitomo Corp., Tenaris SA, Tenergy
Equipment and Service Ltd., The Weir Group Plc,
TMK, and Vallourec SA
Market Driver
The Oil Country Tubular Goods (OCTG) market in Indonesia is a significant player in the oil and gas industry, supplying tubular products for various applications in hydrocarbon transportation, power generation, production, and drilling. The market caters to both onshore and offshore projects, including shale revolution, natural gas exploration, and deepwater reserves. Key trends include the shift towards unconventional fuel sources, government policies, business environment, and investment in renewable energy sectors. Prominent companies like Vallourec, Line Pipe, Casing, Drill pipe, and Tubing dominate the market. Executive data summary: The Indonesian OCTG market is driven by oil and gas production, with demand for well casing, production tubing, drill pipe, seamless pipes, and welded pipes. The market is influenced by factors like oil breakeven prices, non-oil revenues, technological advancements, oil service costs, and environmental concerns. Investment in the sector is influenced by factors like commodity prices, oil wells, oil field services, crude prices, shale production, and horizontal drilling activities. Tubular product suppliers face challenges from import duties, oil prices, and foreign investments. The market is witnessing technological advancements, including directional drilling, deep-water exploration, and remote areas with harsh environments. The industry is undergoing a paradigm shift towards shale gas, tight oil, and renewable energy sources. Key players face challenges from raw materials, corrosion, and extreme temperatures, requiring high-pressure and high-temperature wells, gas-tight sealing, and gas wells, horizontal wells, and high-pressure wells. The market is expected to grow, driven by domestic energy resources, energy demand, and energy security.
Story Continues