Global Oil and Gas Fittings Market to reach USD XX billion by 2027.Global Oil and Gas Fittings Market is valued approximately USD XX billion in 2020 and is anticipated to grow with a healthy growth rate of XX % over the forecast period 2021-2027. 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

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
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

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027

Target Audience of the Global Oil and Gas Fittings Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors