Rig and Oilfield Mats Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Global Rig and Oilfield Mats Market: Snapshot
Oil and gas extraction and exploration sites are generally located in extremely remote parts of the world with difficult ground conditions and adverse climatic conditions. It extends from mud to swamp to sand. Stability and safety are two of the significant things that are essential whilst working in oil and gas exploration sites. A rig and oilfield mat refers to a transportable platform that is utilized in supporting the equipment used in construction and various other resource-based activities. It could also be a structural roadway offering passage to unstable pipelines and grounds.
These mats provide a work platform for the onsite workers and enable them carrying heavy machinery with ease thereby generating a clean and sage work environment. A rig mat is usually made of a composite of steel and timber.
Benefits of rig and oilfield mats are as mentioned below
The expansion of the global rig and oilfield mats market is influenced by the qualities of these mats like cost effectiveness, lightweight, and high strength. However, high cost of installation of these mats is likely to hamper growth of the global rig and oilfield mats market in forthcoming years. Laminated rig mats have come up as an emerging trend of the global rig and oilfield mats market. It is made with cross-laminated timber (CLT) core reduces weight of the mats.
It is likely that composite mats will dominate the global rig and oilfield mats market in foreseeable years. Composite mats are highly durable and offer high strength.
Global Rig and Oilfield Mats Market: Overview
The demand within the global rig and oilfield mats market has been escalating on account of advancements in the oil and gas industry. The workers near oilfields are subjected to several risks, and hence, there is a need to ensure optimal security for these workers. Rig and oilfield mats provide a reliable platform to the workers to carry out rigorous operations. The passage of machinery through an area becomes easier when oilfield mats are laid across the operational area. For this reason, the demand within the global market for rig and oilfield market has been escalating at a robust rate in recent times. The oil and gas industry has attracted several monetary investments over the past decade which has given an impetus to the growth of the global market for rig and oilfield market. Moreover, the presence of well-established vendors who are familiar with the business dynamics of the market has also propelled market demand. It is expected that the next few years would witness the emergence of a lucrative oil and gas industry which could in turn enhance the prospects of rig and oilfield mats market growth.
The global rig and oilfield mats market is segmented on the basis of the following parameters: product type, application, and region. In order to get a thorough understanding of the forced operating in the global rig and oilfield market, it is essential to delve into the segments mentioned above.
A report added on the global rig and oilfield mats market is a reminder of the various historic forces that have aided market growth. The report is divided into multiple segments, each addressing a key standpoint of the global rig and oilfield mats market. The regional arrangement of the global rig and oilfield mats market has also been enunciated in the report.
Global Rig and Oilfield Mats Market: Trends and Opportunities
The demand within the global rig and oilfield mats market is expected to rise on account of the commendable growth of the oil and gas industry. The stakeholders operating in the oil and gas industry have taken several investment decisions in the past decade. It is expected that the global market for rig and oilfield mats would expand alongside advancements in the operational domain of the oil industry. Furthermore, the market for rig and oilfield mats can also earn voluminous revenues as oil-exporting entities show a sense of pragmatism in handling their operations.
Global Rig and Oilfield Mats Market: Market Potential
The global rig and oilfield mats market is expected to witness key advancements in the forthcoming years. This projection is based on the ardent effort of oil-exporting countries to enhance the production standards across their oil industry. Furthermore, the focus given to safety and security of employees working in oilfields has also necessitated the need for rig and oilfield mats in the industry.
Global Rig and Oilfield Mats Market: Regional Outlook
The global rig and oilfield mats market is segmented into the following key regional pockets: North America, the Middle East and Africa (MEA), Asia Pacific, Latin America, and Europe. Amongst these segments, the demand for rig and oilfield mats has been the highest in the Middle East and Africa. This is due to the presence of a large number of oil and gas reserves in the Middle Eastern Regions.
Global Rig and Oilfield Mats Market: Competitive Landscape
Some of the key players in the global rig and oilfield mats market are Megadeck HD, STRAD Energy Services, Portafloor, and Acre Rig Mats & Oilfield Products Inc.
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