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Market Overview of Global Rig Mats market:
According to our latest research, the global Rig Mats market looks promising in the next 5 years. As of 2022, the global Rig Mats market was estimated at USD XX million, and it's anticipated to reach USD XX million in 2028, with a CAGR of XX% during the forecast years.
Rig mats are portable platforms used to support equipment used in construction in addition to other resources-based activities, including camps, drilling rigs, helipads, and tanks. It also can be used as structural roadways to offer passage over unstable grounds, pipelines, and a lot more. They can also be used as Oilfield Rig Mats and other big-scale equipment, such as construction equipment. It usually consists of wood, rubber, or steel and is utilized to both protect Earth and allow workers to execute in a range of conditions.
Influence of COVID-19 Outbreak on Rig Mats Industry Development
The sudden onset of the COVID-19 pandemic, which has resulted in strict lockdown regulations in many countries, has disrupted the import and export of Rig Mats products. COVID-19 can affect the global economy in three main ways: directly affecting production and demand, causing supply chain and market disruptions, and financially affecting companies and financial markets. The outbreak of the COVID-19 pandemic has severely impacted the Rig Mats product industry. Disruptions in raw material supply chains due to national lockdowns have put pressure on industry product supply. Rig Mats products have a high demand for diversified distribution channels and raw material procurement channels. The convenience of channels requires smooth logistics. However, the pandemic has hit logistics hard, severely impacting the speed of turnaround. Factors such as labor shortages and increased raw material costs will increase production costs and risks. At the same time, under the impact of the capital market, investor confidence has been frustrated, and corporate financing has become more difficult. Market closures and supply chain disruptions have contributed to weak industrial output growth amid the COVID-19 outbreak. Meanwhile, construction, oil, and other industries have been hit hard, many construction plans have been put on hold, and demand for Rig Mats has been dampened.
With the implementation of epidemic control measures and the promotion of vaccines, the market environment has gradually stabilized, the production capacity of enterprises is also recovering, and the supply of raw materials will also return to normal. Construction and other fields are related to people's livelihood and have a great influence on people's lives, so the recovery of related activities is relatively rapid, and the demand for Rig Mats will gradually recover. And at this stage, production companies are gradually adjusting their production and operation models to be more conducive to adapting to the post-epidemic era. Digital transformation is one of the adjustment options. With the gradual recovery of the global order in the post-epidemic era, the Rig Mats market will also gradually recover.
Limitations
Timber has traditionally been an important raw material for Rig Mats, but the recent increase in lumber prices in Canada has severely impacted the cost of production and operations in the Rig Mats industry. Lumber prices have risen nearly 30 percent since September 2021. The outbreak has been causing supply chain problems and labor shortages, which have negatively impacted the supply of timber. Wildfires in Western Canada are also severely impacting supply chains and the ability to ship products to market. Supply chain issues for the lumber industry were complicated by a major storm that battered British Columbia in November, washing out rail lines on which lumber mills depend. Problems in the supply of wood have led to an imbalance between supply and demand, and the price of wood has risen, which in turn has led to increased production costs for Rig Mats producers. This limits the development of the Rig Mats market.
The main raw materials of Rig Mats also include metals, especially steel. Steel costs have soared due to lagging production and increased demand during the post-pandemic economic recovery. Rising costs are passed on to distributors, who in turn pass them on to customers, threatening continued demand with exorbitant prices. Steel production has been hit hard by COVID lockdown measures. With factories closed, fewer workers were allowed to work on site for much of the past year, and output fell. Even though COVID restrictions have been eased, production is taking longer than demand to resume, forcing prices to rise in a typical supply and demand situation. Steel prices have surged since December 2020 due to insufficient supply to meet end-use demand and supply chain replenishment. However, as the market gradually recovers, the high prices will not continue. However, manufacturers should be alert to the risk of changes in raw material prices.
Company Overview:
Northern Mat & Bridge is one of the major players operating in the Rig Mats market, holding a share of 11.91% in 2022.
Northern Mat & Bridge (NMB) specializes in providing safe, cost effective temporary access products and solutions for energy industries across North America: including transmission & distribution, pipeline, oil & gas, wind, potash, forestry, LNG and more.
Canadian Mat Systems Inc. is a leading manufacturer of temporary structural foundation panels commonly called "Mats". These panels are used to support operational activity in areas of low weight bearing soil conditions. As a result of a strong R&D program, they have developed patented products from conventional steel and wood rig mats to a variety of composite iterations, including the C-Lock Interlocking Mat System, and the first fully suspended Fibre Reinforced Polymer Composite Raised Drilling Platform (RDP).
Segmentation Overview:
Among different product types, Wood & Metal Mats segment is anticipated to contribute the largest market share in 2028.
Application Overview:
By application, the Working Platform segment occupied the biggest share from 2018 to 2022.
This report covers a research time span from 2018 to 2028, and presents a deep and comprehensive analysis of the global Rig Mats market, with a systematical description of the status quo and trends of the whole market, a close look into the competitive landscape of the major players, and a detailed elaboration on segment markets by type, by application and by region.
Key Takeaways from the Global Rig Mats Market Report:
Market Size Estimates: Rig Mats market size estimation in terms of value and sales volume from 2018-2028
Market Trends and Dynamics: Rig Mats market drivers, opportunities, challenges, and risks
Macro-economy and Regional Conflict: Influence of global inflation and Russia & Ukraine War on the Rig Mats market
Segment Market Analysis: Rig Mats market value and sales volume by type and by application from 2018-2028
Regional Market Analysis: Rig Mats market situations and prospects in North America, Asia Pacific, Europe, Latin America, Middle East, Africa
Country-level Studies on the Rig Mats Market: Revenue and sales volume of major countries in each region
Rig Mats Market Competitive Landscape and Major Players: Analysis of 10-15 leading market players, sales, price, revenue, gross, gross margin, product profile and application, etc.
Trade Flow: Import and export volume of the Rig Mats market in major regions.
Rig Mats Industry Value Chain: Rig Mats market raw materials & suppliers, manufacturing process, distributors, downstream customers
Rig Mats Industry News, Policies & Regulations
Key players in the global Rig Mats market are covered in Chapter 12:
XTREME Mattings Corp
Viking Mat Company
Matco Manufacturing Ltd.
Acre Rig Mats
Lone Pine Forest Products
Canada Rig Mats Ltd
TerraPro
Alberta Rig Mats
Canadian Mat Systems
MaXXiMaT
Crocodile Products
Little Guy Oilfield Rentals
Northern Mat & Bridge
In Chapter 2 and Chapter 15.1, based on types, the Rig Mats market from 2018 to 2028 is primarily split into:
Composite Mats
Wood & Metal Mats
In Chapter 3 and Chapter 15.2, based on applications, the Rig Mats market from 2018 to 2028 covers:
Temporary Road Ways
Working Platform
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions are covered in Chapter 7, 8, 9, 10, 11, 15.3, 15.4:
North America (Covered in Chapter 7)
United States
Canada
Asia-Pacific (Covered in Chapter 8)
China
Japan
India
South Korea
Southeast Asia
Australia
Others
Europe (Covered in Chapter 9)
Germany
France
UK
Italy
Spain
Russia
Poland
Others
Latin America (Covered in Chapter 10)
Mexico
Brazil
Argentina
Others
Middle East and Africa (Covered in Chapter 11)
GCC Countries
Africa
Others
The data of this research report is mainly obtained from industry associations, magazines, press releases, national customs, annual reports of enterprises, expert interviews, paid databases and other channels with authority. It also provides scientific forecasts of the industry's core development indicators through professional analysis and forecasting models.
In short, whatever role you take in this industry value chain, this report will help you or your company to acquire a systematic and in-depth understanding of the industry.
Chapter Outline
This report consists of 16 chapters. Below is a brief guideline to help you quickly grasp the main contents of each chapter:
Chapter 1 starts the report with an overview of the Rig Mats market, as well as the definitions of the target market and the subdivisions. Through the presented global market size, regional market sizes, and segment market shares, you will be able to draw an overall and comprehensive picture of the market situation. Meanwhile, the research method and data source will be shared in this chapter.
Chapter 2 and Chapter 3 breaks down the market by different types and applications, with historic data presented in metrics of sales volume, revenue, market share and growth rate.
Chapter 4 elaborates on market dynamics and future trends in the industry, which contains an in-depth analysis of market drivers, opportunities, challenges, and risks. Other essential factors that will have a major impact on the market, i.e., industry news and policies in recent years, global inflation, and regional conflict, are also taken into consideration.
Chapter 5 compares the sales volume and revenue of the major regions across the globe, which enables the readers to understand the regional competitive pattern.
Chapter 6 is the analysis of the trade flow. Import volume and export volume are revealed on a regional level.
Chapters 7-11 focus on country-level studies. Data from the major countries in each region are provided, showing the current development of the industry in different countries. Besides, you will also find qualitative trends analysis under global inflation under each of the 6 regions.
Chapter 12 first up presents the competitive landscape by displaying and comparing the revenues, sales volumes, and market shares of the top players in the market, followed by a company-by-company analysis of all the major market participants with introductions of their products, product applications, company profiles, and business overview. In addition, their competitiveness is manifested through numbers of sales volume, revenue, price, gross and gross margin.
Chapter 13 looks into the whole market industrial chain, ranging from the upstream key raw materials and their suppliers to midstream distributors and downstream customers, with influences of global inflation taken into consideration.
Chapter 14 is perfect for those who wish to develop new projects in the industry. This chapter sheds a light on industry entry barriers and gives suggestions on new project investments.
Chapter 15 forecasts the future trend of the market from the perspective of different types, applications, and major regions.
Chapter 16 is the conclusion of the report which helps the readers sum up the main findings and insights.
Years considered for this report:
Historical Years: 2018-2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2023-2028