Quadintel recently published a new research report on the Global Oil and Gas Fittings Market. In addition to prospective prospects, this study offers a historical analysis of growth, cost structure, revenue, market trends, and capacity (2023-2030). The following section offers comprehensive coverage of the Oil and Gas Fittings Market across a number of market categories, in-depth research at the country level, and an assessment of the market’s key drivers, restraints, trends, and opportunities.
Global Oil and Gas Fittings Market to reach USD $$ billion by 2030. Global Oil and Gas Fittings Market is valued approximately USD $$ billion in 2022 and is anticipated to grow with a healthy growth rate of $% over the forecast period 2023-2030.
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Oil & gas fittings are specially designed with stainless steel, carbon steel or other alloys to withstand the corrosion and provide safe oil & gas logistics. The composition of pipeline manufacturing materials is often modified to provide better thermal conductivity, low thermal expansion and strength to withhold temperatures as high as 1000 degrees Celsius. The growth of Global Oil and Gas fittings market is fueled by discovery of new oil & gas fields around the world. For instance, Saudi Arabia announced discovery of 4 new oil and gas fields in December 2020. In June 2021, China discovered a one-billion-ton oil and gas field in Xinjiang region. All these new discoveries have high logistics requirement which will generate demand for Oil and Gas fittings market.
The rising consumption of oil & gas globally is another driving factor for Oil & gas fittings market. U.S. Energy Information Administration estimates an average consumption of 98.8 million barrels per day of petroleum and liquid fuels in July 2021, which is an increase of 6.0 million barrels per day from last year. This rapid rise in consumption also reflects in the rise of oil and fittings market size. However, rising cost of raw materials for fittings manufacturing can impede the market growth in the forecast period of 2021-2027. Nevertheless, the increasing investments into refinery upgrades and logistics safety is expected to provide good growth opportunities for Global oil & gas fittings market.
Among Asia Pacific, North America, Europe, Latin America and Rest of the World, the regional analysis reveals that North America is the leader across the world in terms of market share because of increased onshore excavation activities, shale oil boom, and presence of key market players in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate over the forecast period 2021-2027. Factors such as economical manufacturing, discovery of new oil and gas fields and increasing investments in oil & gas logistics would create lucrative growth prospects for the Oil and Gas Fittings Market across Asia-Pacific region.
Major market player included in this report are:
Yingkon Haitai Metal and Pipe Fittings Co. Ltd.
Anvil International
The Weir Group PLC
PSL Pipe & Fittings Co.
B.O.P Products LLC.
Geldbach UK Ltd
AVK UK Ltd
JVS Engineers
Hy-Lok
KINGSA Industries
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Working Pressure:
Less than 2000 psi
2000 to 4000 psi
4000 to 6000 psi
6000 to 10000 psi
10000 to 15000 psi
Above 15000 psi
By Product Type:
Tees
Studded tees
Flow tees
Flanges
Blind/Test
Companion
Weld neck
Adapters
Bottom hole test adapter
Double studded adapter
Male Pins
Studded Crosses
By Application:
Onshore
Offshore
By Material Type:
Carbon Steel
Stainless Steel
Alloy Steel
Fiberglass
Composite
Others
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By Operation:
Upstream
Midstream
Downstream
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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List of Factors Covered in the Report are:
Major Strategic Developments: The report abides by quality and quantity. It covers the major strategic market developments, including R&D, M&A, agreements, new products launch, collaborations, partnerships, joint ventures, and geographical expansion, accompanied by a list of the prominent industry players thriving in the market on a national and international level.
Key Market Features:
Major subjects like revenue, capacity, price, rate, production rate, gross production, capacity utilization, consumption, cost, CAGR, import/export, supply/demand, market share, and gross margin are all assessed in the research and mentioned in the study. It also documents a thorough analysis of the most important market factors and their most recent developments, combined with the pertinent market segments and sub-segments.
List of Highlights & Approach
The report is made using a variety of efficient analytical methodologies that offers readers an in-depth research and evaluation on the leading market players and comprehensive insight on what place they are holding within the industry. Analytical techniques, such as Porter’s five forces analysis, feasibility studies, SWOT analyses, and ROI analyses, are put to use to examine the development of the major market players.
Some of the Key Questions Answered in this Report:
- What is the Market dimension at the regional and country-level?
- What are the key drivers, restraints, opportunities, and challenges of the Market, and how they are anticipated to influence the market?
- What is the international (North America, Europe, Asia-Pacific, South America, Middle East and Africa) income value, manufacturing value, consumption value, import and export of Market?
- Who are the world key producers of the Market Industry? How is their working state of affairs (capacity, production, sales, price, cost, gross, and revenue)?
- What are the Market possibilities and threats confronted via the carriers in the world Market Industry?
- Which application/end-user or product kind may also be seeking for incremental boom prospects? What is the market share of every kind and application?
- What targeted method and constraints are keeping the Market?
- What are the distinct sales, marketing, and distribution channels in the world industry?
- What are the upstream uncooked substances and manufacturing gear of Market alongside with the manufacturing technique of Market?
- What are the key market tendencies impacting the increase of the Market?
- Economic have an impact on the Market enterprise and improvement vogue of the Market industry.
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