Global Rig and Oilfield Mats Market was valued at US$ 1.29 Bn in 2019 and is estimated to reach US$ 2.1Bn by 2026 at a CAGR of 7.25%.
The report includes the analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short term and long term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region wise.
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Global Rig and Oilfield Mats Market Dynamics:
Safety and stability are the two important things necessary for a worksite in areas of oil & gas exploration and other heavy-duty applications. An oilfield & rig mat market provides a work platform that can easily carry heavy machinery and also creates a clean and safe working environment for workers. Continued demand from oil & gas exploration is expected to be the major factor that drives the growth of the rig and oilfield mats market. However, rig and oilfield mats provide a stable platform and safety to the worker at the worksite, it will further drive the growth of the rig and oilfield market during the forecast period.
In addition, lightweight, high strength, and cost-effectiveness are the features of rig and oilfield mats that are expected to drive the growth of the market. The high installation costs involved could act as a restraint for the rig and oilfield mats market. A trend of the market is laminated rig mats is the latest product which is built with cross-laminated timber (CLT) core, and cross-laminated timber (CLT) core provides weight saving and from the supplier side, they can ship more mats per truckload.
Composite mats will continue to dominate the rig and oilfield mats market globally. Composite mats are constructed of various materials, to improve the strength or durability of the mat. They can be more expensive upfront but, they have a much longer lifespan than wooden mats. They can be more cost-efficient as well.
The oil & gas industry is leading the rig and oilfield mats market globally. Rig mats are one of the most simple and essential assets in the oil and gas industry. While drilling fluids in difficult terrains, rig mats help the oil and gas industry overcome access challenges. With more companies working in remote areas in the oil and gas segment, there has been a surge in demand for the rig mats market. The rig mat industry needs a mechanism that can track and assist companies to retrieve these rig mats that are buried in water and mud.
Global Rig and Oilfield Mats Market Regional Analysis:
Region-wise, North America is estimated to be the most lucrative region in the rig and oilfield mats market globally and is likely to hold more than 40% of the global market share. Additionally, advancements in skid-proof composite mats will drive the demand for rig and oilfield mats in the Asia Pacific and Europe. In South America, the market is developing at a rapid rate owing to the development of the petrochemicals industry and the other related sectors.
Global rig and oilfield mats market report includes PESTLE analysis, competitive landscape, and Porter’s five force model. Market attractive analysis wherein all the segments are benchmarked based on the market size, growth rate, and general attractiveness.
Global rig and oilfield mats market, Key Highlights:
• Global rig and oilfield mats market analysis and forecast, in terms of value.
• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global rig and oilfield mats market
• Global rig and oilfield mats market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
• Global rig and oilfield mats market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
• Global rig and oilfield mats market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global rig and oilfield mats market are also profiled.
The report has considered the base year of 2019 and past four years trend. 2020 figures are at actuals, however due to different dynamics of year 2020, market forecast is not only dependent upon 2020, but on the basis of 2016-2020.
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Global Rig and Oilfield Mats Market, by Product
• Wood mats
• Composite mats
• Metal mats
Global Rig and Oilfield Mats Market, by End-user
• Oil and Gas
• Electrical T&D Construction & Maintenance
• Infrastructure Construction
Global Rig and Oilfield Mats Market, by Region
• North America
• Middle East and Africa
• South America
Global Rig and Oilfield Mats Market Key Players
• Quality Mat Company
• Canada Rig Mats Ltd
• Alberta Rig Mats
• Structurlam Products LP
• Environmental Mats Ltd
• Megadeck HD
• Acre Rig Mats & Oilfield Products Inc
• Rig Mats of America Inc
• Spartan Mat
• Access Terrain Services
• Checkers Safety Group
• Signature Systems Group, LLC
• Newpark Resources Inc.
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