Market Overview:
The global steel sucker rod market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for oil and gas across the globe. Steel sucker rods are used in various applications such as no corrosion or effective suppression oil well and corrosive oil well. Among these, the demand for steel sucker rods in no corrosion or effective suppression oil wells is higher as compared to that of corrosive oil wells, owing to their properties such as high tensile strength and resistance against wear and tear. Regionally, North America dominates the global steel sucker rod market followed by Europe, Asia Pacific, Latin America, and Middle East & Africa respectively.
Product Definition:
Steel sucker rods are used in the oil and gas industry to help extract oil and gas from wells.
Carbon Steel:
Carbon steel is one of the forms of steel. It has a carbon content greater than 0.25% by weight, usually around 1.0%-7.5%.
Alloy Steel:
Alloy steel is a material that contains two or more metals in combination, mostly with the aim of improving some property such as strength, hardness, and corrosion resistance. The most common alloys include aluminum-silicone alloys (AS), iron-aluminum alloys (IA), and silicon-aluminum silicates (SUS). AS and SUS are largely used in the manufacturing of steeluck rods.
The global alloy steel market size was valued at USD 5.
Application Insights:
The no corrosion or effective suppression oil well application segment led the global steel sucker rod market in 2017. This can be attributed to rising demand for such equipment in China, India and Saudi Arabia. In addition, growing investments by international oil companies (OICs) in developing countries including Brazil, Colombia and Mexico is expected to fuel product demand over the forecast period.
The corrosive oil well application segment is anticipated to witness significant growth over the forecast period owing to increasing drilling activities across various regions including North America and Europe. Corrosion issues are one of the major concerns for a majority of drilling fluids manufacturers as it can potentially cause damage to a drill string assembly if not addressed properly during operations at depth level below ground water level.
Regional Analysis:
Asia Pacific dominated the global steel sucker rod market in 2017 and is expected to continue its dominance over the forecast period. The presence of major oil & gas producing countries such as China, India, Vietnam, South Korea and Indonesia are anticipated to drive demand for steel sucker rods in this region. In addition, increasing offshore drilling activities coupled with growing exploration & production (E&P) of various oil fields across these countries is likely to propel industry growth over the next eight years.
North America accounted for a significant share of revenue in 2017 owing to rising shale plays across Texas and Louisiana that consume large volumes of steel sucker rods for effective well completion processes. In addition, increasing offshore drilling activities along Gulf Coast states including Mississippi River Delta area are projected to fuel product demand during the forecast period.
Growth Factors:
- Increasing demand from the oil and gas industry for Steel Sucker Rods as a result of increasing exploration and production activities.
- Rising demand for Steel Sucker Rods in the power generation sector, owing to the increasing installation of new power plants across the globe.
- Growing investments in infrastructure development projects, which is expected to lead to an increase in demand for Steel Sucker Rods over the next few years.
- Rapid growth of construction activities worldwide, which is anticipated to create lucrative opportunities for players operating in the steel sucker rod market during the forecast period.
Scope Of The Report
Report Attributes
Report Details
Report Title
Steel Sucker Rod Market Research Report
By Type
Carbon Steel, Alloy Steel
By Application
No Corrosion or Effective Suppression Oil Well, Corrosive Oil Well
By Companies
Dover, Weatherford, Exceed, keruigroup, Nine Ring, Jiyuan Petroleum Machinery, John Crane, DADI Petroleum Machinery, Shengli Oilfield Highland
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
149
Number of Tables & Figures
105
Customization Available
Yes, the report can be customized as per your need.
Global Steel Sucker Rod Market Report Segments:
The global Steel Sucker Rod market is segmented on the basis of:
Types
Carbon Steel, Alloy Steel
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:
- Dover
- Weatherford
- Exceed
- keruigroup
- Nine Ring
- Jiyuan Petroleum Machinery
- John Crane
- DADI Petroleum Machinery
- Shengli Oilfield Highland
Highlights of The Steel 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:
- Carbon Steel
- Alloy Steel
- 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 Steel 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?
Steel Sucker Rod is a fishing rod designed to catch steelhead and other salmonids. It has a specialized design that helps it snag the fish's scales, making it easier to reel in.
Some of the major players in the steel sucker rod market are Dover, Weatherford, Exceed, keruigroup, Nine Ring, Jiyuan Petroleum Machinery, John Crane, DADI Petroleum Machinery, Shengli Oilfield Highland.
The steel 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 Steel 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 Steel Sucker Rod Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Steel 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 Steel 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 Steel Sucker Rod Market Size & Forecast, 2018-2028
4.5.1 Steel Sucker Rod Market Size and Y-o-Y Growth
4.5.2 Steel Sucker Rod Market Absolute $ Opportunity
Chapter 5 Global Steel 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 Steel Sucker Rod Market Size Forecast by Type
5.2.1 Carbon Steel
5.2.2 Alloy Steel
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Steel 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 Steel 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 Steel 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 Steel 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 Steel Sucker Rod Analysis and Forecast
9.1 Introduction
9.2 North America Steel 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 Steel Sucker Rod Market Size Forecast by Type
9.6.1 Carbon Steel
9.6.2 Alloy Steel
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 Steel 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 Steel Sucker Rod Analysis and Forecast
10.1 Introduction
10.2 Europe Steel 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 Steel Sucker Rod Market Size Forecast by Type
10.6.1 Carbon Steel
10.6.2 Alloy Steel
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 Steel 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 Steel Sucker Rod Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Steel 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 Steel Sucker Rod Market Size Forecast by Type
11.6.1 Carbon Steel
11.6.2 Alloy Steel
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 Steel 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 Steel Sucker Rod Analysis and Forecast
12.1 Introduction
12.2 Latin America Steel 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 Steel Sucker Rod Market Size Forecast by Type
12.6.1 Carbon Steel
12.6.2 Alloy Steel
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 Steel 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) Steel Sucker Rod Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Steel 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) Steel Sucker Rod Market Size Forecast by Type
13.6.1 Carbon Steel
13.6.2 Alloy Steel
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) Steel 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 Steel Sucker Rod Market: Competitive Dashboard
14.2 Global Steel Sucker Rod Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Dover
14.3.2 Weatherford
14.3.3 Exceed
14.3.4 keruigroup
14.3.5 Nine Ring
14.3.6 Jiyuan Petroleum Machinery
14.3.7 John Crane
14.3.8 DADI Petroleum Machinery
14.3.9 Shengli Oilfield Highland
