- The lightweight, high strength and cost-effective features of rig and oilfield mats are expected to drive market growth.
- The Global Rig and Oilfield Mats Market was valued $1.2Bn in 2017 and is estimated to reach $2.1Bn by 2026 at a CAGR of 7.25%.
- The 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.
Safety and stability are the two important things necessary for a worksite in areas of oil & gas exploration and other heavy duty applications. The 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 which drives the growth of rig and oilfield mats market. However, rig and oilfield mats provide a stable platform and safety to the worker at worksite will further drive the growth of the rig and oilfield market during the forecast period.
The Global Rig and Oilfield Mats Market was valued $1.2Bn in 2017 and is estimated to reach $2.1Bn by 2026 at a CAGR of 7.25%. Get Access to sample report pages
In addition, the lightweight, high strength and cost-effective features of rig and oilfield mats are expected to drive market growth. The high installation costs involved could act as a restraint for the rig and oilfield mats market. Laminated rig mats are the latest product trend, which is built with a cross-laminated timber (CLT) core, which provides weight saving and from the supplier side, so 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, so they can be more cost-efficient.
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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 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 rig mats. The rig mat industry needs a mechanism that can track and assist companies to retrieve these rig mats which become mired in water and mud.
Region-wise, North America is expected 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. Additional, advancements in skid proof composite mats will drive demand for rig and oilfield mats in the Asia Pacific and European regions. In South America, the market is developing at a rapid rate due to development of the petrochemicals industry and other related sectors.
Key players operating in rig and oilfield mats market are Quality Mat Company, Canada Rig Mats Ltd., Alberta Rig Mats, Structurlam Products LP, Environmental Mats Ltd., Megadeck HD, Portafloor, STRAD Energy Services, Acre Rig Mats & Oilfield Products Inc., MaXXiMaT, and Rig Mats of America Inc.