Nigeria Oil Country tubular Goods Market to generate Revenue of US$ 718.60 million in 2027 with CAGR of 6.5% by Business Market insights

Industry Today

The Business Market Insights provides you regional research analysis on “Nigeria Oil Country Tubular Goods Market” and forecast to 2027. The research report provides deep insights into the regional market revenue, parent market trends, macro-economic indicators, and governing factors, along with market attractiveness per market segment. The report provides an overview of the growth rate of the Nigeria Oil Country Tubular Goods market during the forecast period, i.e., 2020–2027.

Oil Country Tubular Goods i.e., OCTG, refers to a range of rolled metal items, more generally related to as pipes, and the various attachments used in the process of manufacture and operation. These can include tubes for drilling, lining or tubing, thread protectors, stabbing guides, bumper rings, and chocks for the screw. Due to the requirements of each pipe, the piping items classify as OCTG in terms of their appropriate charging conditions and what they can pass, how solid they are, and their composition. OCTG production is directly influenced by the rise in demand for fossil fuels. The more wells are drilled, the more OCTG is required, in simple terms. Oil price volatility affects demand for OCTG in the short term, as less wells are drilled during downturn in the industry. The main drivers for OCTG demand are underground, horizontal, sour gas, and offshore wells…

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