"Actionable Insights to Fuel Your Growth"

Sucker Rod Market Size, Share & Industry Analysis, By Type ( Steel Sucker Rod, FRP Sucker Rod, Hollow Sucker Rod ), By Application ( Onshore, Offshore ) and regional Forecast, 2024-2032

Region : Global | Report ID: FBI104018 | Status : Ongoing

 

KEY MARKET INSIGHTS

The oil & gas industry is a principal driver of the global economy, which is going through a significant transformation that uptick the demand in the global market. Improved break-even points, an increase in demand for energy, and utilization of technology to reduce production costs are the major factors leading to the growth of the oil & gas industry. An increase in oil & gas production and exploration activities, growing merger and acquisition trends, and increasing demand for oil are the primary market dynamics propelling the oil & gas industry.


The sucker rod market is segmented into type and application. Based on type, the market is categorized into steel sucker rod, FRP sucker rod, and hollow sucker rod. Based on the application, the market is bifurcated into onshore and offshore. The sucker rod market is dominated by the upstream segment, as it includes onshore and offshore production and exploration activities, which requires production equipment, structural steel, and various other products and components.

The increasing oil & gas production and exploration activities, along with growing investments in the services market, propel the demand for the sucker rod market. Increasing the need to optimize the productivity from mature and new reserves, rising investments in deepwater and ultra-deepwater projects, and increasing focus on developing unconventional hydrocarbons drive the market during the forecast period. Increasing investment in the Asia-Pacific oil & gas industry and significant development in technology are promising opportunities for growing the sucker rod market during the forecast period.

Key Market Driver -

Increase in oil & gas production & exploration activities

Key Market Restraint -

High initial investment and stringent regulations hampers the market growth


Key Players Covered:


Some of the globally acclaimed companies for the sucker rod market are Tenaris, Weatherford, Exceed, Dover, Sunnda, Laxmi Udyog, Nine Ring, John Crane, Kerui Group, Ocher machinery, Dongying Tieren, Shengli Oilfield Highland, and CNPC.

Regional Analysis:


The sucker rod market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is dominating the market due to an increase in oil and gas production from the U.S. New exploration of oilfields and oil reserves in North America also propels the demand for the sucker rod market during the forecast period. Asia-Pacific is expected to be the second-largest market in the global demand owing to increasing growth in industrialization and the growing demand for natural gas during the forecast period. Middle East & Africa is followed by the Asia-Pacific region owing to the increase in oil & gas exploratory projects and the new development of oilfields in the Middle East region. Hence, a significant increase in demand for oil & gas accelerates the demand for the sucker rod market during the forecast period.

 

To gain extensive insights into the market, Request for Customization


Segmentation






















 ATTRIBUTES

 DETAILS

By Type



  • Steel Sucker Rod

  • FRP Sucker Rod

  • Hollow Sucker Rod



By Application



  • Onshore

  • Offshore



By Geography



  • North America (U.S. and Canada)

  • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)

  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)

  • Latin America (Brazil, Mexico and Rest of Latin America)

  • Middle East and Africa (South Africa, GCC and Rest of Middle East and Africa)



                       

Key Industry Developments



  • In October 2019, McDermott received a fabrication subcontract for the Greater Tortue Ahmeyim natural gas project in Batam, Indonesia.

  • In September 2019, McDermott received a contract to provide three complex modules fabrication for the Arctic LNG 2 project in Russia.

  • In March 2018, Audubon Companies and Opero Energy had announced to open a new fabrication center to focus on investment in technology and automation in Houston.





  • Ongoing
  • 2023
  • 2019-2022

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Energy & Power Clients

Fujifilm
Nikon
UL
Ntt
Hitachi

Client Testimonials

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X