The 2024 forecast indicates significant variability in European imports of casing, tubing, and drill pipes. The UK leads with the highest imports, demonstrating moderate growth of 1.43% year-on-year. France and Germany show strong growth, with 17.5% and 14.99%, respectively. Spain follows with a 7.38% increase. Other countries like Sweden and Malta exhibit substantial growth percentages, reaching 80.38% and 59%, suggesting a potential shift in market dynamics or infrastructure development. However, countries like Hungary, Croatia, and Cyprus face declines, with Hungary experiencing a significant decrease of 13.97%.
Looking ahead, the European market for these products could see adjustments driven by geopolitical shifts impacting energy policy, technological advancements in extraction methods, and policy changes promoting renewable energy sources. Monitoring these factors will be crucial for stakeholders to understand future demand and market structure. Additionally, growing investments in green energy technologies may gradually influence demand, leading to fluctuating imports of drilling materials in the coming years.
Top countries in Import of Casing, Tubing and Drill Pipe, of a Kind Used in the Drilling for Oil or Gas, Seamless of Steel Other than Stainless Steel by Country
| # | 10 Countries | Kilograms | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 United Kingdom | 87,850,000 | 2023 | -0.82% | +1.43% | View data |
| 2 | 2 France | 35,932,000 | 2023 | +20.46% | +17.5% | View data |
| 3 | 3 Spain | 33,713,000 | 2023 | +20.12% | +7.38% | View data |
| 4 | 4 Italy | 16,428,000 | 2023 | -0.55% | +1.56% | View data |
| 5 | 5 Romania | 14,590,000 | 2023 | -5.32% | -7.54% | View data |
| 6 | 6 Germany | 14,475,000 | 2023 | +2.84% | +14.99% | View data |
| 7 | 7 Poland | 13,222,000 | 2023 | +1.85% | +2.14% | View data |
| 8 | 8 Netherlands | 12,850,000 | 2023 | +6.32% | +0.58% | View data |
| 9 | 9 Lithuania | 4,936,300 | 2023 | +5.32% | +4.89% | View data |
| 10 | 10 Hungary | 4,254,800 | 2023 | +0.19% | -13.97% | View data |
