Market Overview:
The global hollow sucker rod market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for oil and gas across the globe. Additionally, factors such as rising investments in drilling and exploration activities are also contributing to the growth of this market. The global hollow sucker rod market can be segmented on the basis of type, application, and region. On the basis of type, it can be divided into C grade, D grade, and H grade segments. The C grade segment is expected to hold a major share in terms of revenue in 2018 owing to its low cost as compared with other grades available in the market. However, with technological advancements being made in this field on a regular basis, D grade Hollow Sucker Rods are likely to witness high demand duringthe forecast period owing their superior properties over other types available currently In terms of application,,the oil well segment is anticipatedto holda major sharein2018due tothedemandforoil&gasacrossglobally .
Product Definition:
A hollow sucker rod is a type of sucker rod that has a hole down the center. This allows for the passage of fluids, such as oil or water, between the wellhead and the pump. The fluid helps to cool and lubricate the moving parts of the pump, reducing wear and extending its life.
C Grade:
C-grade is the lowest grade of steel, which is used in manufacturing of hollow sucker rods. C-grade has a low carbon content and therefore it's costlier than other grades. The demand for C-grade steel is expected to increase over the forecast period owing to its usage in manufacturing hollow sucker rods, which are widely used by end users such as plastic extruders and injection molders among others.
D Grade:
D grade is a low-quality, inexpensive form of steel that is used in the manufacturing of hollow sucker rods. These products are primarily used for fishing applications such as live baiting and dead baiting. D-grade steel has a carbon content below 0.25%. It can be identified by it's duller finish and coarser grain size as compared to the other grades which have a higher carbon content (C+ to C) and smaller grains (fine).
Application Insights:
The global market is segmented by application into no corrosion or effective suppression oil well, corrosive oil well and others. The other category includes shale gas exploration, water-injection wells and deepwater drilling. The global market for these applications was valued at USD 1.5 billion in 2017 owing to the growing demand for energy resources across various regions of the world including Asia Pacific, North America and Middle East & Africa.
Corrosive oil well is expected to be the fastest-growing segment over the forecast period owing to increasing investments in onshore activities across various regions of the world including North America.
Regional Analysis:
North America dominated the global market in terms of revenue with a share of over 40.0% in 2017. This is attributed to the presence of major players such as Halliburton, Schlumberger and cement companies that are involved in drilling exploration & production activities across North America region. The U.S.
Asia Pacific is expected to be one of the fastest growing regions owing to increasing number of active wells and ongoing developments across various countries such as China, India and Australia among others which have large reserves of natural resources including petroleum, natural gas etc.
Growth Factors:
- Increasing demand for Hollow Sucker Rod from the oil and gas industry as a result of increasing drilling activities across the globe.
- Growing demand for Hollow Sucker Rod in water injection applications due to its ability to improve production rates and well productivity.
- Rising popularity of horizontal drilling, which is driving the need for high-quality Hollow Sucker Rods that can withstand high levels of torque and stress without breaking or bending.
- Rapid growth in unconventional oil and gas reserves, such as shale gas, which is leading to an increase in exploration and production activities across North America, Europe, Asia Pacific, and other regions worldwide.
Scope Of The Report
Report Attributes
Report Details
Report Title
Hollow Sucker Rod Market Research Report
By Type
C Grade, D Grade, H Grade
By Application
No Corrosion or Effective Suppression Oil Well, Corrosive Oil Well
By Companies
Tenaris, China North Industries Group, Shengli Oilfield Highland, Shandong Shenyu Mechanical Manufacture Co.,ltd, Shouguang Kunlong, CNPC Equipment, Shandong Shunyu Petroleum Equipment, Sovonex, Weatherock Group, Dongying Sanhe Petroleum Equipment
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
156
Number of Tables & Figures
110
Customization Available
Yes, the report can be customized as per your need.
Global Hollow Sucker Rod Market Report Segments:
The global Hollow Sucker Rod market is segmented on the basis of:
Types
C Grade, D Grade, H Grade
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
No Corrosion or Effective Suppression Oil Well, Corrosive Oil Well
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Tenaris
- China North Industries Group
- Shengli Oilfield Highland
- Shandong Shenyu Mechanical Manufacture Co.,ltd
- Shouguang Kunlong
- CNPC Equipment
- Shandong Shunyu Petroleum Equipment
- Sovonex
- Weatherock Group
- Dongying Sanhe Petroleum Equipment
Highlights of The Hollow Sucker Rod Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- C Grade
- D Grade
- H Grade
- By Application:
- No Corrosion or Effective Suppression Oil Well
- Corrosive Oil Well
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Hollow Sucker Rod Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A hollow sucker rod is a fishing tool that is used to catch fish by sucking them in.
Some of the major players in the hollow sucker rod market are Tenaris, China North Industries Group, Shengli Oilfield Highland, Shandong Shenyu Mechanical Manufacture Co.,ltd, Shouguang Kunlong, CNPC Equipment, Shandong Shunyu Petroleum Equipment, Sovonex, Weatherock Group, Dongying Sanhe Petroleum Equipment.
The hollow sucker rod market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Hollow Sucker Rod Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Hollow Sucker Rod Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Hollow Sucker Rod Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Hollow Sucker Rod Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Hollow Sucker Rod Market Size & Forecast, 2018-2028
4.5.1 Hollow Sucker Rod Market Size and Y-o-Y Growth
4.5.2 Hollow Sucker Rod Market Absolute $ Opportunity
Chapter 5 Global Hollow Sucker Rod Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Hollow Sucker Rod Market Size Forecast by Type
5.2.1 C Grade
5.2.2 D Grade
5.2.3 H Grade
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Hollow Sucker Rod Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Hollow Sucker Rod Market Size Forecast by Applications
6.2.1 No Corrosion or Effective Suppression Oil Well
6.2.2 Corrosive Oil Well
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Hollow Sucker Rod Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Hollow Sucker Rod Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Hollow Sucker Rod Analysis and Forecast
9.1 Introduction
9.2 North America Hollow Sucker Rod Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Hollow Sucker Rod Market Size Forecast by Type
9.6.1 C Grade
9.6.2 D Grade
9.6.3 H Grade
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Hollow Sucker Rod Market Size Forecast by Applications
9.10.1 No Corrosion or Effective Suppression Oil Well
9.10.2 Corrosive Oil Well
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Hollow Sucker Rod Analysis and Forecast
10.1 Introduction
10.2 Europe Hollow Sucker Rod Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Hollow Sucker Rod Market Size Forecast by Type
10.6.1 C Grade
10.6.2 D Grade
10.6.3 H Grade
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Hollow Sucker Rod Market Size Forecast by Applications
10.10.1 No Corrosion or Effective Suppression Oil Well
10.10.2 Corrosive Oil Well
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Hollow Sucker Rod Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Hollow Sucker Rod Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Hollow Sucker Rod Market Size Forecast by Type
11.6.1 C Grade
11.6.2 D Grade
11.6.3 H Grade
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Hollow Sucker Rod Market Size Forecast by Applications
11.10.1 No Corrosion or Effective Suppression Oil Well
11.10.2 Corrosive Oil Well
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Hollow Sucker Rod Analysis and Forecast
12.1 Introduction
12.2 Latin America Hollow Sucker Rod Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Hollow Sucker Rod Market Size Forecast by Type
12.6.1 C Grade
12.6.2 D Grade
12.6.3 H Grade
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Hollow Sucker Rod Market Size Forecast by Applications
12.10.1 No Corrosion or Effective Suppression Oil Well
12.10.2 Corrosive Oil Well
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Hollow Sucker Rod Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Hollow Sucker Rod Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Hollow Sucker Rod Market Size Forecast by Type
13.6.1 C Grade
13.6.2 D Grade
13.6.3 H Grade
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Hollow Sucker Rod Market Size Forecast by Applications
13.10.1 No Corrosion or Effective Suppression Oil Well
13.10.2 Corrosive Oil Well
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Hollow Sucker Rod Market: Competitive Dashboard
14.2 Global Hollow Sucker Rod Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Tenaris
14.3.2 China North Industries Group
14.3.3 Shengli Oilfield Highland
14.3.4 Shandong Shenyu Mechanical Manufacture Co.,ltd
14.3.5 Shouguang Kunlong
14.3.6 CNPC Equipment
14.3.7 Shandong Shunyu Petroleum Equipment
14.3.8 Sovonex
14.3.9 Weatherock Group
14.3.10 Dongying Sanhe Petroleum Equipment
