The oil and gas industry has attracted several cash investments over the past decade, which have fueled the growth of the global oil rigs and oilfields market. The demand in the global rigs and oilfields mats market has increased due to advancements in the oil and gas industry. Furthermore, the presence of established vendors who know the business dynamics of the market has also propelled the market demand. A lucrative oil and gas industry is expected to emerge over the next few years, which in turn could improve the growth prospects of the rigs and oilfields market.
MARKET SCOPE
The "Global Rigs and Oilfield Mats Market Analysis to 2028" is a specialized and in-depth study of the rigs and oilfield mats industry with a focus on the global market trend. The report aims to provide an overview of global rigs and oilfield mats market with detailed market segmentation by type, and location. The global rigs and oilfield mats market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global rigs and oilfield mats market is segmented on the basis of type, and location.
- On the basis of type, the market is segmented into Steel, Wood, Composite, Others.
- On the basis of location, the market is segmented into Onshore, Offshore.
MARKET DYNAMICS
Drivers:
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- The enactment of government regulations on exploration activities will boost the market for rigs and oilfield mats in the forecast period.
- The installation of rigs and oilfield mats depends on factors such as surface size and carrying capacity. The adaptation, therefore, makes the installation of rigs and oilfield mats expensive. This can create a barrier to the global market for rigs and oilfields mats.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The automotive connector's market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the automotive connector's market in these regions.
IMPACT OF COVID-19
Governments of several countries around the world have imposed severe blockades to limit the spread of the coronavirus. The movement of people and economic activities related to goods and services, have stopped due to the lockdown. The offer was unable to adapt to the decline in consumption. This has led to a significant accumulation of crude oil and gas in storage. Low prices and an unprecedented drop in demand hit the upstream sector in regions with unfavorable manufacturing economies. Rigs and oilfield mats are used in the oil and gas industry. Therefore, holding back investments in new exploration projects hampers the global market for rigs and oilfield mats.
MARKET PLAYERS
The report covers key developments in the rigs and oilfield mats market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as advancement in products, reallocation of resources and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players in the rigs and oilfield mats market are anticipated to provide lucrative growth opportunities in the future owing favourable government regulations for mitigating carbon emissions.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the rigs and oilfield mats market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Newpark Resources Inc.
- YAK MAT
- Diamond T Services
- Horizon North Logistics Inc.
- Signature Systems Group, LLC
- Strad Energy Services Ltd
- Checkers Safety Group
- Spartan Mat
- Rig Mats of America Inc.
- Quality Mat Company