The global rig and oilfield mats market is expected to be worth US$ 2.1 billion by 2032, with sales increasing at a healthy 7.3% CAGR from 2022 to 2032. The target market is expected to be worth US$ 1.04 billion in 2022, up from US$ 1 billion in 2021. Crude oil price increases and increased activity in the oil and gas industry around the world will drive demand for rig and oilfield mats during the forecast period.
Major oil and gas companies are interested in establishing operations for exploration, drilling, and production in remote areas. Oil and gas companies are acquiring contracts for such remote locations. Rain and humidity are common in some of these remote locations. Because such an environment is unsuitable for standard operations, matting solutions are required to keep oil and gas operations running in these locations. As a result, remote drilling operations are driving the adoption of rig and oilfield mats. Many US-based oil and gas operators, for example, are shifting drilling applications to Alaska and other locations, which is expected to drive global demand for rig and oilfields mats between 2022 and 2032.
Additionally, increased sales of composite or engineered mats will almost certainly contribute significantly to overall market growth. Again, governments in the United States, Canada, and the European Union have enacted regulations to prevent environmental degradation, which will help the growth of composite mats over wood mats. All of these factors will drive the growth of the rig and oilfield mats market during the forecast period.
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“Integration of technological enhancements like skid-proof materials and anti-static materials into the design of these mats will augment the global sales of the rig and oilfield mats market over the forecast period,” says an FMI analyst.
Key Takeaways:
- By product type, the composite mats segment will gain traction over the forecast period.
- In terms of application, the construction, and offshore wind energy infrastructure are set to generate lucrative opportunities for the target market.
- The rig and oilfield mats market in the United States will account for a major portion of the global market.
- Countries in Western Europe will account for the second largest market share.
- China and the MEA countries will register steady growth during the forecast period.
Competitive Landscape
Horizon North Logistics Inc., New park Resources Inc., Signature Systems Group, LLC, Strad Energy Services Ltd, Checkers Safety Group, Spartan Mat, Rig Mats of America Inc., Quality Mat Company, Canada Rig Mats Ltd., Alberta Rig Mats, and Access Terrain Services among others are some of the major players in the rig and oilfield mats market profiled in the full version of the report.
Key market players are concentrating on enhancing product offerings and investing more in research and development activities to cater to consumer demands. These businesses are offering patented technologies and customized mat sizes, acquiring technical expertise, and engaging in strategic alliances, partnerships, joint ventures, collaborations, mergers, and acquisitions to gain a competitive advantage.
More Insights into Rig and Oilfield Mats Market Report
In its latest report, FMI offers an unbiased analysis of the global rig and oilfield mats market, providing historical data and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of product type (wood mats, composite mats, steel mats), end use (oil and gas, electrical T&D construction & maintenance, wind energy, infrastructure construction, military, helipad, others), and region.
According to the latest FMI reports, based on segmentation, the composite mats segment will register a heightened demand and make significant contributions to the overall market growth. On the basis of applications, industrial usage in the construction and offshore wind energy infrastructure will make major contributions to the growth of the rig and oilfield mats market during the forecast period.
Based on region, the rig and oilfield mats market in North America will exhibit substantial growth owing to the heightened adoption of these mats. The United States will be a prime driving factor during this period. Heightened oil and gas activities in the U.S. is fueling the target market growth in this region. Western European countries, China, and MEA countries will also show impressive growth in the rig and oilfield mats market during the forecast period.
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Key Segments
By Product:
- Wood Mats
- Composite Mats
- Steel Mats
By End Use:
- Oil and Gas
- Electrical T&D Construction & Maintenance
- Wind
- Infrastructure Construction
- Military
- Helipad
- Others
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa (MEA)
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