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Oil Country Tubular Goods Market in Indonesia 2019-2023| Rise in Offshore E&P Activities to Boost Demand| Technavio

January 6, 2019

LONDON--(BUSINESS WIRE)--Jan 6, 2019-- analysts forecast the oil country tubular goods market in Indonesia to grow at a CAGR of over 4% during the forecast period, according to their latest market research report.

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Technavio forecasts the oil country tubular goods market in Indonesia to grow at a CAGR of over 4% by 2023. (Graphic: Business Wire)

The declining raw material prices is one of the major trends being witnessed in the . Ensuring price competitiveness is critical for the commercial success of any product. In the case of OCTG products such as pipes and connectors, one of the key costs incurred pertains to the cost of raw materials, which is mainly steel. The global trends in steel prices have a significant impact on the market. The current trend of low steel prices is expected to significantly boost the demand for OCTG.

This report is available at a USD 1,000 discount for a limited time only:

According to Technavio analysts, one of the key factors contributing to the growth of the oil country tubular goods market in Indonesia is the rise in offshore E&P activities:

Oil country tubular goods market in Indonesia: Rise in offshore E&P activities

The oil and gas E&P activities in the country were slow, and no new blocks were awarded in the bid rounds in 2016, owing to the plunging crude oil prices and domestic oil and gas regulatory environment in Indonesia. However, since the third quarter of 2016, with the recovery in crude oil prices, there has been a revival of the upstream oil and gas sector in Indonesia, as well as other countries in the world. For example, in February 2018, Directorate General of Oil and Gas (MIGAS) prepared 24 acreages conventional and two acreages non-conventional oil and gas for bidding in 2018. Also, there has been a significant increase in demand for oil in the country, owing to economic development.

According to a senior analyst at Technavio for research on oil and gas, “In 2017, Oil and gas accounted for over 50% of the total primary energy consumption in Indonesia. Hence, this has resulted in the widening of the gap between the oil supply and demand in the country, thus highlighting the importance of increasing the domestic supply. For instance, as compared with 2016, the crude oil import for Indonesia increased by 6.26% in 2017. According to lEA, Indonesia has switched from being a net oil exporter to importer. In 2016, Indonesia was the third-largest net importer of oil products and the tenth-largest in terms of electricity, globally.”

Oil country tubular goods market in Indonesia: Segmentation analysis

The oil country tubular goods market in Indonesia research report provides market segmentation by the application (onshore and offshore) and by product (seamless and welded). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

The onshore segment held the largest market share in 2018, accounting for nearly 80% of the market. This application segment is expected to dominate the global market throughout the forecast period.

The seamless segment held the largest market share in 2018, accounting for over 85% of the market. This product segment is expected to dominate the global market throughout the forecast period.

Looking for more information on this market?

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

Market ecosystem Market characteristics Market segmentation analysis

Market Sizing

Market definition Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Regional comparison Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendors covered Vendor classification Market positioning of vendors Competitive scenario

About Technavio

is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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View source version on businesswire.com:https://www.businesswire.com/news/home/20190105005014/en/

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

www.technavio.com

KEYWORD: ASIA PACIFIC INDONESIA

INDUSTRY KEYWORD: ENERGY OIL/GAS OTHER ENERGY RETAIL RESEARCH OTHER SCIENCE OTHER RETAIL SCIENCE

SOURCE: Technavio Research

Copyright Business Wire 2019.

PUB: 01/06/2019 02:49 AM/DISC: 01/06/2019 02:50 AM

http://www.businesswire.com/news/home/20190105005014/en

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