Market Overview:

The Global Rig and Oilfield Mat Market size were valued at USD 1.04 Billion in 2022, is projected to reach USD 1.82 Billion by 2030, and is registering a CAGR of 7.3% from 2022 to 2030.

Oilfield mats and rigs are platforms that can be moved and are made to hold the equipment used in oil drilling. In sensitive wetland areas, rigs and oilfield mats make the ground safe to work on. During rainy or wet seasons, these mats can be used to build roads. Even when the weather is bad, people can get to work because of these roads. Vehicles can use rigs and oilfield mats as temporary roads to get to faraway places or get over rough terrain.

These mats, which are usually made of wood, a mix of materials, or steel, are used to support heavy equipment, protect the ground from damage, and make temporary access roads and work platforms in areas with difficult terrain or sensitive environments.

COVID-19 Impact:

Several governments around the world have put in place strict measures to keep the coronavirus from spreading. Because of the lockdown, people can't move around and businesses that deal with goods and services can't work. The drop in demand has not been met by a change in supply. This causes a lot of crude oil and gas to be stored in large amounts. Low prices and demand drops that have never happened before have made things hard for the upstream sector in places with bad manufacturing economies. In the oil and gas business, oilfield platforms and mats are used. So, restrictions on investments in new exploration projects hurt the oil rig and mats market around the world.

Market Dynamics:

Driving Factors:

• Increasing Activities in the Oil and the Gas Exploration

The main thing driving the market for rig and oilfield mats is the growing number of oil and gas exploration jobs. The market is driven by the fact that the rig and oilfield mats give workers a stable place to work and keep them safe on the job site. The high strength, light weight, and low cost of rig and oilfield mats are expected to drive the market in a positive direction. In some places, rig and oilfield mats are not allowed on the job sites, which slows down the growth of the market. Installation of the rig and oilfield mats is expensive, which slows the market's growth.

• Process and Environmental Safety

Safety of the process and the environment will be important for the rig and oilfield mat market over the next few years. In the downstream process, rigs and oilfield mats protect the ground by keeping contaminants from workstations from mixing. Because of this, government rules about exploration are likely to help the oil rig and oilfield mat markets.

Restraints/Challenges:

• High Cost of Customization

How drilling rigs and oilfield mats are set up depends on things like the size of the area and how much weight it can hold. Because of this, customizing oil rigs and oilfield mats is expensive. These things are making it hard for the market to grow.

• Soaring Mat Renting Business

Since the price of crude oil has hurt business, oil and gas operators prefer to rent mats. Because of this, more and more people are choosing to rent instead of buy. These mats that you can rent and then buy back have hurt sales of new rig and oilfield mats around the world. Also, the rental and service businesses have been doing very well. In the coming years, this may slow the growth of the rig and oilfield market.

Opportunities:

• Aging Infrastructure and New Projects

During the forecast period, sales of rig and oilfield mats will be driven by infrastructure that is getting old. During the period of the forecast, utility companies, EPC firms, pipeline operators, and inspection and construction service companies will be the main types of customers that will be sought after. The sales of rig and oilfield mats will be driven by projects in these industries, both new and old. Composite mats last longer, and this is one of the main things that will make it possible to use these kinds of products in new operations.

Strategic Development:

• In February 2021 - Superior Mat Company announced that it was buying TuffTrak, a company that makes high-strength synthetic mats for temporary driveways and job sites. With this purchase, Superior Mat Company will be able to sell more products in the oil and gas, construction, and events industries.
• In November 2020 - Strad Inc. said that it had signed a multi-year contract to supply rig mats and equipment to a major oil and gas producer in Montney, Canada. This agreement will give Strad Inc. a steady source of income and opportunities to grow in the area.
• In September 2020 - Black Diamond Group announced that it was buying BOXX Modular Group, a company that makes modular buildings and houses for remote workers. Black Diamond Group can offer more products and services in the oil and gas, mining, and construction industries because of this purchase.
• In August 2020 - The Viking Mat Company said that it would open a new factory in Gonzales, Texas. The facility will make hardwood mats for the oil and gas industry and other heavy-duty uses.
• In July 2020 - Newpark Resources, Inc. said that it was buying almost all of Well Service Group, Inc.'s assets. Well Service Group, Inc. offers completion and production services in the Permian Basin. With this purchase, Newpark Resources will be able to offer more products and services in the area.

Key Vendors:

Top market players are

• Newpark Resources Inc.

Newpark Resources Inc. (Newpark) is a company that works in the oil and gas industry by providing services. The company has products, services, and solutions for drilling fluids that help with directional, horizontal, and deep water drilling projects. The barite that Newpark grinds is used as a base for drilling fluids. It also has services for composite matting and well-site construction. The company sells its goods under different brand names, such as Evolution, FlexDrill, and others.

• YAK MAT

The company YAK MAT, which used to be called Dixie Mat, makes and sells hardwood timber mats. It has mats that look like a crane, excavator, bridge, truck, road, rig, swamp, pipeline, and more. The company also rents out mats and equipment and does deliveries by truck, rail, and installation.

• Diamond T Services

Diamond T Services helps the mining, wastewater, recycling, construction, oil and gas, and right-of-way construction, maintenance, and commercial landscaping industries with fluid separation equipment and consulting.

• Horizon North Logistics Inc.

Horizon North Logistics is a company that offers a wide range of products and services for businesses, homes, and other industries. It provides housing for workers, camp management, solutions for getting to the camps, maintenance, and utilities.

• Signature Systems Group, LLC

Signature Systems works in Dallas, Texas, Orlando, Florida, and Darlington, United Kingdom to design, make, and sell innovative composite matting solutions in more than 60 countries. It has the best HDPE composite mats on the market, like MegaDeck HD, SignaRoad, DuraDeck, OmniDeckTM, and Matrax.

• Strad Energy Services Ltd

Strad Energy Services Ltd. offers a wide range of well-site and energy infrastructure services, such as Surface Equipment, Environmental and Access Matting, Solids Control and Waste Management, EcoPond (for storing frac water), Drill Pipe and Matting Manufacturing, and Solids Control and Waste Management.

• Checkers Safety Group

Linebacker UK Limited makes products that help protect grass. Professional tennis clubs can buy the products from the company. Customers in the United Kingdom can buy from Linebacker UK.

• Spartan Mat

Spartan Mat, LLC provides construction mats. The company sells crane mats, laminated mats, composite mats, and mats with a dura base. Spartan Mat works with people in both the US and Canada.

• Quality Mat Company

Since Joe Penland started the company in 1974, Quality Mat has been making high-quality ground protection mats for a wide range of projects and industries all over the country. Quality Mat is now one of the biggest companies making ground protection mats.

• Canada Rig Mats Ltd.

Canada Rig Mats sells rig mats of the highest quality at reasonable prices. We make our rig mats from high-quality Douglas-fir decking because it is strong and doesn't wear down easily. All of the rig mat steel is cut cleanly and accurately by our plasma-cutting robot.

• Alberta Rig Mats

Alberta Rig Mats makes standard and custom steel frame rig mats at prices and with the quality you want. Please ask for a quote and include us in your next request for proposal (RFP). We can make a lot of rig mats in a short amount of time.

• Access Terrain Service

Access Terrain Services is an expert in protecting the ground and giving temporary access. We offer a variety of new and used mats and access solutions for moving equipment, people, and plant over soft, sensitive ground or even water.

Segmentation Analysis:

By Product Type:

During the forecast period, the Composite segment is expected to grow at a CAGR of 7.8%. Composite mats are more popular than other kinds of mats because they are durable, cost-effective, and good for the environment. Mats for rigs and oilfields are now made with materials that don't slip and fibers that don't attract static electricity. This segment is expected to grow because of these factors over the next few years.

In the market, the growth of the wood segment is going down. Authorities in the United States, Canada, and the European Union have put in place rules to protect the environment. Globally, there are strict rules that limit how many wood mats can be made. The Texas Forest Commission says that it takes 60 years for a milling-size tree to grow into a wood mat. Even though wood mats are cheaper than composite mats, people tend to choose composite mats over wood mats because of the difference in quality.

• Wood Mats
• Composite Mats
• Steel Mats

By Application Outlook:

On the basis of application, the market is divided into oil and gas, electrical T&D construction & maintenance, wind, infrastructure construction, military, helipad, others. During the forecast period, the growth of the rig and oilfield mats market will be largely driven by industrial use in construction and offshore wind energy infrastructure.

• Oil and Gas
• Electrical T&D Construction & Maintenance
• Wind
• Infrastructure Construction
• Military
• Helipad
• Others

Regional Insights:

In 2020, 45% of the market was made up of the ME&A region. The rigs and oilfield mats market in the Middle East is expected to be driven by offshore development and discovery in places like the UAE, Qatar, and Saudi Arabia. Bahrain said that it had found an oil field with about 80 billion barrels of oil. The MMR report says that the number of wells in the ME&A region will grow at a faster rate, with about 10,000 active offshore wells in fields with an average well age of 16 to 21 years, compared to 10 to 15 years in other regions. In this area, the market is growing because of these things.

North America will be right behind Asia-Pacific in terms of market growth. Due to the huge growth and rapid industrialization of the oil and gas industry, the markets for rigs and oilfield mats will grow a lot in both regions. The growth of the construction industry is one reason why the market for rigs and oil field mats is growing in Western Europe. Due to changes in the petrochemical industry and other related fields, the market in South America is growing quickly.

During the time frame of the forecast, North America is expected to grow at a CAGR of 4.5%. Demand for rigs and oilfield mats has gone up because manufacturers in the area are now focusing on utilities companies as well as oil and gas operators. This is because more people are moving into cities and living in them, and more cities are being built. During the forecast period, the growth of the market in this region is likely to be driven by these factors.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Scope of Report:

Conclusion:

• The report also helps people understand the dynamics and structure of the Rigs and Oilfield Mats market by looking at the market segments and estimating the size of the Rigs and Oilfield Mats market.
• The report is an investor's guide because it gives a clear picture of how the key players in the Rigs and Oilfield Mats market compare in terms of product, price, financial position, product portfolio, growth strategies, and regional presence.
• The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.