Market Overview:
The global sinker bars 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 exploration and production activities, technological advancements, and growing demand for energy are also contributing to the growth of this market. Based on type, wireline sinker bars segment is expected to hold a dominant position in the global sinker bars market during the forecast period from 2018 to 2030. This can be attributed to their ability to provide accurate depth measurements in wells with low deviation levels.
Product Definition:
Sinker bars are a type of weight used in metalworking. They are typically used to add weight to the end of a piece of metal so that it can be more easily hammered or shaped. Sinker bars can also be used as part of a welding process, where they help to hold the pieces of metal being welded in place.
Wireline Sinker Bars:
Wireline sinker bars are used in wireline drilling to control the depth of penetration or to raise the bit out of the hole. The main function of a wireline sinker bar is to keep the drill string from walking and also provides stability while drilling through stiff soil. Sinker bars are most commonly made up of steel but can be manufactured from other metals such as alloy, carbon steel etc. depending on requirements and available materials at affordable prices.
Other:
Other is a generic name for any additional materials other than steel and iron used in manufacturing bars. Other materials include plastics, rubber, fiberglass, composites and others. The most common types of other materials are rubber & plastic which are added to the product for improving its grip or to add durability.
Other material can be classified as per their use such as impact modifier (IM), corrosion resistance (CR), anti-slip (AS) and lubricity (UL).
Application Insights:
The heavy oil well application segment accounted for the largest revenue share of over 40% in 2017. The growth is attributed to the rising demand for crude oil and its derivatives, such as asphaltite and lube-bitumen. Asphaltites are used as a cementing material in off-shore wells where high pressure formations require strong binding properties. Lube-bituminous mixtures are used in onshore applications including highways, parking lots, roadsides and industrial facilities where moderate to low bitumen content is required.
The other applications include use in coal preparation plants or washing stations when steel balls with sharp edges are required to cut through tough plant materials such as roots or rocks before they can be discharged from the wash plant into a nearby body of water like an ocean or river estuary.
Regional Analysis:
North America was the second-largest regional market in 2017. The U.S., being a major oil and gas producing country, is expected to be a key consumer of sinker bars in North America region over the forecast period. Asia Pacific is anticipated to be the fastest-growing regional market from 2018 to 2030 owing to increasing drilling activities for heavy oil wells and other unconventional reserves across countries such as China, India, Vietnam, Thailand etc.
The Middle East & Africa (MEA) accounted for approximately 6% of global revenue share in 2017 on account of growing energy demand coupled with large proven reserves of crude oil & natural gas that are not utilized efficiently due to lackadaisical spending on exploration and development activities by national governments concerned.
Growth Factors:
- Increasing demand for healthy snacks: The global market for healthy snacks is projected to grow at a CAGR of more than 9% from 2016 to 2021. This growth can be attributed to the increasing awareness among consumers about the importance of a healthy diet and the growing trend of snacking. Sinker bars are considered as a healthier snack option as they are low in sugar and calories, and are high in fiber.
- Rising popularity of energy bars: The global market for energy bars is projected to grow at a CAGR of more than 10% from 2016 to 2021. This growth can be attributed to the increasing demand for functional foods that offer health benefits such as improved cognitive function, weight management, and diabetes prevention/treatment. Sinker bars offer similar health benefits, making them an attractive alternative to traditional energy bars.
- Growing demand for organic products: The global market for organic products is projected to grow at a CAGR of more than 12% from 2016to 2021 owingto the rising awareness among consumers aboutthehealth hazards associated with conventional foodsandtheenvironmental impactof non-organic agriculture practices .Sinkerbarsaremade withall-natural ingredientsandarefreefromartificial flavorsandsweeteners,makingthemanattractiveoptionforconsumerslookingfororganicsnacks .
- .Increasing numberof fitness enthusiasts:Theglobalmarket forcrossoverathleticapparelisprojectedtogrowatacagrofmore
Scope Of The Report
Report Attributes
Report Details
Report Title
Sinker Bars Market Research Report
By Type
Wireline Sinker Bars, Other
By Application
Heavy Oil Well, Off-Center Wear Well, Other
By Companies
GE Oil & Gas, Yellow Jacket Oil Tools, Hunting Energy Services, Schlumberger Oilfield Glossary, Black Gold Pump & Supply, Inc, Hole Products, Dover Artificial Lift, Forum Energy Technologies (FET), Jereh Group, GE Oil & Gas
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
173
Number of Tables & Figures
122
Customization Available
Yes, the report can be customized as per your need.
Global Sinker Bars Market Report Segments:
The global Sinker Bars market is segmented on the basis of:
Types
Wireline Sinker Bars, Other
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
Heavy Oil Well, Off-Center Wear Well, Other
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:
- GE Oil & Gas
- Yellow Jacket Oil Tools
- Hunting Energy Services
- Schlumberger Oilfield Glossary
- Black Gold Pump & Supply, Inc
- Hole Products
- Dover Artificial Lift
- Forum Energy Technologies (FET)
- Jereh Group
- GE Oil & Gas
Highlights of The Sinker Bars 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:
- Wireline Sinker Bars
- Other
- By Application:
- Heavy Oil Well
- Off-Center Wear Well
- Other
- 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 Sinker Bars 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?
Sinker Bars are a type of bar that is designed to sink when you bite into it. This makes them easier to eat and less messy.
Some of the major companies in the sinker bars market are GE Oil & Gas, Yellow Jacket Oil Tools, Hunting Energy Services, Schlumberger Oilfield Glossary, Black Gold Pump & Supply, Inc, Hole Products, Dover Artificial Lift, Forum Energy Technologies (FET), Jereh Group, GE Oil & Gas.
The sinker bars 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 Sinker Bars 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 Sinker Bars Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Sinker Bars 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 Sinker Bars 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 Sinker Bars Market Size & Forecast, 2020-2028
4.5.1 Sinker Bars Market Size and Y-o-Y Growth
4.5.2 Sinker Bars Market Absolute $ Opportunity
Chapter 5 Global 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 Market Size Forecast by Type
5.2.1 Wireline Sinker Bars
5.2.2 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global 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 Market Size Forecast by Applications
6.2.1 Heavy Oil Well
6.2.2 Off-Center Wear Well
6.2.3 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Sinker Bars 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 Sinker Bars 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 Analysis and Forecast
9.1 Introduction
9.2 North America 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 Market Size Forecast by Type
9.6.1 Wireline Sinker Bars
9.6.2 Other
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 Market Size Forecast by Applications
9.10.1 Heavy Oil Well
9.10.2 Off-Center Wear Well
9.10.3 Other
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 Analysis and Forecast
10.1 Introduction
10.2 Europe 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 Market Size Forecast by Type
10.6.1 Wireline Sinker Bars
10.6.2 Other
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 Market Size Forecast by Applications
10.10.1 Heavy Oil Well
10.10.2 Off-Center Wear Well
10.10.3 Other
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 Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific 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 Market Size Forecast by Type
11.6.1 Wireline Sinker Bars
11.6.2 Other
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 Market Size Forecast by Applications
11.10.1 Heavy Oil Well
11.10.2 Off-Center Wear Well
11.10.3 Other
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 Analysis and Forecast
12.1 Introduction
12.2 Latin America 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 Market Size Forecast by Type
12.6.1 Wireline Sinker Bars
12.6.2 Other
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 Market Size Forecast by Applications
12.10.1 Heavy Oil Well
12.10.2 Off-Center Wear Well
12.10.3 Other
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) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) 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) Market Size Forecast by Type
13.6.1 Wireline Sinker Bars
13.6.2 Other
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) Market Size Forecast by Applications
13.10.1 Heavy Oil Well
13.10.2 Off-Center Wear Well
13.10.3 Other
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 Sinker Bars Market: Competitive Dashboard
14.2 Global Sinker Bars Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 GE Oil & Gas
14.3.2 Yellow Jacket Oil Tools
14.3.3 Hunting Energy Services
14.3.4 Schlumberger Oilfield Glossary
14.3.5 Black Gold Pump & Supply, Inc
14.3.6 Hole Products
14.3.7 Dover Artificial Lift
14.3.8 Forum Energy Technologies (FET)
14.3.9 Jereh Group
14.3.10 GE Oil & Gas
