Rig and Oilfield Mats Market Market Poised to Expand at 4.6 % CAGR During 2018 - 2028


Posted May 24, 2019 by ankush321

Future Market Insights has announced the addition of the "Rig and Oilfield Mats Market Market Poised to Expand at 4.6 % CAGR During 2018 - 2028" report to their offering

 
An Overview of the Rig and Oilfield Mats Market

Rig and oilfield mats can be used as access mats, working platforms and rig mats to provide a stable and strong surface in varying terrains and weather conditions. They offer proper ground conditions in sensitive wetland areas, difficult terrains and standing water. Apart from oil and gas companies, construction and electrical utility companies are among the common end users of rig and oilfield mats. Rig and oilfield mats are also adopted in end use applications such as oil and gas drilling, electrical T&D construction and wind turbine installation.

Attributing to their characteristics, rig and oilfield mats find applications in wetlands, marshes, mud, sand and tidal conditions with water currents and coastal and sensitive areas. Rig and oilfield mats are also used to provide passage over unstable terrains, which is a crucial application sector. Sensitive field operations in end uses such as oil and gas, electrical T&D construction, wind, infrastructure construction, military and helipad require rig and oilfield mats.

Rig and Oilfield Mats Market: Scenario

Traditionally, wood-based and metal-framed rig and oilfield mats were used for industrial operations; however, environmental regulations and the lack of strong wood have supported the deployment of composite mats. This, in turn, has been driving the adoption of composite-based rig and oilfield mats for sensitive field applications. Thus, rig and oilfield mats are ana attractive solution in providing contiguous surfaces during operations and maintaining safe and smooth operations. The rig and oilfield mats market, since its inception, has evolved as a high value market and has been witnessing a healthy growth rate, which is expected to have a prolonged effect of growth during the forecast period. The oil and gas industry will act as a major driver for the growth of this market.

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Rig and Oilfield Mats Market: Inclusions

The rig and oilfield mats market comprises wood mats, composite mats, and metal mats (metal framed) on the basis of product type. The scope of the rig and oilfield mats market in this research study is mainly limited to the field applications associated with end uses such as oil and gas, electrical T&D construction & maintenance, wind, infrastructure construction, military and helipad. This report only covers the sales of new rig and oilfield mats and rental business, buy-back mats, and sales of used mats have not been considered. The global rig and oilfield mats market also does not includes custom coloring of mats, mat cleaning services and residential applications.

The global rig and oilfield mats market is estimated to be valued at US$ 1,365.7 Mn by 2018 end and reach US$ 2,133.9 Mn by the end of 2028, expanding at a CAGR of 4.6% over the forecast period. The global rig and oilfield mats market is anticipated to represent an incremental opportunity of US$ 768.2 Mn between 2018 and 2028 and thus, is expected to be a high volume – high value – high growth market.

Rig and Oilfield Mats Market: Drivers and Trends

The global rig and oilfield mats market is expected to witness a steady growth rate in the coming years. Manufacturers of rig and oilfield mats have been gaining momentum since 201, which can be attributed to the rise in crude oil prices. The mats rental business has been witnessing a slow growth trend, which has been propelling the sales of new rig and oilfield mats. Rig and oilfield mats made of composite materials have been registering high adoption and a considerable growth rate, as compared to the mats made of other materials. Growing investments in Asia and MEA oil and gas, wind and electrical T&D installation industries are supporting the growth of the rig and oilfield mats market in these regions. The rig and oilfield mats market is also fueled by increasing investments in the U.S., Canada, the U.K., China, India, Brazil, and Indonesia. Key manufacturers of rig and oilfield mats are offering custom-sized mats to further drive the adoption of their mats among end-use industries

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Rig and Oilfield Mats Market: Key Participants

Some of the prominent players reported in this study of the global rig and oilfield mats market include Newpark Resources Inc., Strad Energy Services Ltd, Horizon North Logistics Inc., Signature Systems Group, LLC, Checkers Safety Group, Spartan Mat, and Access Terrain Services, among others. These players are key participants in the global rig and oilfield mats market and most of them are regional players who offer rig and oilfield mats. In addition to this, there are manufacturers who offers composite mats and export them to Asia and MEA regions. In recent times, leading players have been collaborating with sales and distributor companies to enhance their market presence, which is fuelling the growth of the rig and oilfield mats market. Chinese players offering low-cost composite mats are posing a major concern for the key manufacturers in the market, who in turn are focusing on collaboration activities to drive the adoption of rig and oilfield mats among end users.
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Last Updated May 24, 2019