Forecast: Import of Steel Casing and Tubing, of a Kind Used in Drilling for Oil or Gas, Welded, of an External Diameter Less than 406,4 mm to the UK

The import forecast for steel casing and tubing used in drilling for oil or gas in the UK shows a declining trend from 2024 to 2028, starting at 458.63 thousand kilograms in 2024 and dropping to 223.63 thousand kilograms by 2028. Comparing the forecasted value against the year before, the Volume is projected at approximately 334.00 thousand kilograms as of 2023. Year-on-year, the volume decreases are expected to be: 13.7% in 2025, 14.9% in 2026, 17.2% in 2027, and 20.3% in 2028. The compound annual growth rate (CAGR) over this period is a significant decline of approximately 16.3%.

Future trends to watch for include changes in UK energy policy, advancements in alternative energy technologies, and potential geopolitical factors affecting global oil and gas exploration. Economic adjustments in the energy sector or increases in domestic production or demand for alternative casings could also impact these import trends.