Market Overview:
The global 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 exploration and production activities, growing population, and improving economic conditions are also propelling the growth of this market. Based on type, steel sucker rods account for a major share of the global sucker rod market. However, FRP sucker rods are expected to grow at a higher CAGR during the forecast period owing to their properties such as high strength-to-weight ratio and corrosion resistance.
Product Definition:
A sucker rod is a long, slender metal bar that is inserted into the wellhead of an oil or gas production well. It helps to lift and guide the tubing and other production equipment in the well.
Steel sucker rod:
Steel Sucker rod is a fishing tool used to remove unwanted objects from the water such as rocks, roots or other submerged items. It is also known as an auger or vacuum rod. The steel tube of the sucker rod has a small hole in its end which allows water to pass through and break up objects situated below the surface of the water. As per Fishingforums.
FRP sucker rod:
Sucker rods are used in the mining industry to lower the weight of equipment and cars. They are made up of special materials such as fiber reinforced plastic (FRP) which helps in increasing their durability. FRP is a composite material, whose main component is glass fiber and resin which acts as binding agents. The major advantage associated with it is that it can absorb energy during impact thus reducing wear & tear of machinery thereby extending its life & efficiency.
Application Insights:
The global sucker rod market is segmented by application into no corrosion or effective suppression well, corrosive oil well and others. The other application segment includes shale gas, coal bed methane and tight gas wells. The CSO or Corrosive Soil Oil Well was the largest revenue generating segment in 2017 owing to its rising demand from various industries such as chemical, petrochemical and energy across the globe.
The CSO requires a high-pressure water jetting system for effective drilling operations which further requires a large number of rods that can withstand high pressure without breaking down. Steel sucker rods are most commonly used for these applications while FRP/HDPE sucker rods are increasingly being utilized due to their properties such as strength against corrosion under extreme pressure along with ease of handling at reduced costs over the long term.
Regional Analysis:
North America dominated the global market in terms of revenue in 2017. The growth is attributed to increasing demand for advanced drilling techniques coupled with stringent government regulations regarding water management during drilling operations. In addition, rising shale gas exploration activities are expected to drive the product demand over the forecast period.
Asia Pacific is anticipated to witness significant growth over the next eight years owing to rapid development of unconventional energy resources such as shale gas and tight oil/tar sands across China, India, and Australia (CITA). Moreover, growing offshore activities in this region will further augment product demand over the forecast period.
Growth Factors:
- Increasing demand for oil and gas from developing countries
- Rising investment in the oil and gas sector
- Growing exploration and production activities of oil and gas reserves
- Technological advancements in sucker rod drilling equipment
- Increasing use of sucker rods in unconventional reservoirs
Scope Of The Report
Report Attributes
Report Details
Report Title
Sucker Rod Market Research Report
By Type
Steel sucker rod, FRP sucker rod, Hollow sucker rod
By Application
No corrosion or effective suppression oil well, Corrosive oil well
By Companies
Tenaris, Dover, Weatherford, Nine Ring, Kerui Group, Jiyuan Petroleum Machinery, Ocher Machinery, DADI Petroleum Machinery, John Crane, Shengli Oilfield Highland, Shengli Oilfield Freet, Yanan Shoushan, Dongying TIEREN, Shouguang Kunlong, CNPC Equipment, Shandong Molong
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
247
Number of Tables & Figures
173
Customization Available
Yes, the report can be customized as per your need.
Global Sucker Rod Market Report Segments:
The global Sucker Rod market is segmented on the basis of:
Types
Steel sucker rod, FRP sucker rod, Hollow sucker rod
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
- Dover
- Weatherford
- Nine Ring
- Kerui Group
- Jiyuan Petroleum Machinery
- Ocher Machinery
- DADI Petroleum Machinery
- John Crane
- Shengli Oilfield Highland
- Shengli Oilfield Freet
- Yanan Shoushan
- Dongying TIEREN
- Shouguang Kunlong
- CNPC Equipment
- Shandong Molong
Highlights of The 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:
- Steel sucker rod
- FRP sucker rod
- Hollow sucker rod
- 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 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
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- Understanding Competition Scenario
- Product & Brand Management
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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 sucker rod is a fishing tool that is used to catch fish by luring them in with bait.
Some of the major companies in the sucker rod market are Tenaris, Dover, Weatherford, Nine Ring, Kerui Group, Jiyuan Petroleum Machinery, Ocher Machinery, DADI Petroleum Machinery, John Crane, Shengli Oilfield Highland, Shengli Oilfield Freet, Yanan Shoushan, Dongying TIEREN, Shouguang Kunlong, CNPC Equipment, Shandong Molong.
The sucker rod market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Sucker Rod Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Sucker Rod Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Sucker Rod Market - Supply Chain
4.5. Global Sucker Rod Market Forecast
4.5.1. Sucker Rod Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Sucker Rod Market Size (000 Units) and Y-o-Y Growth
4.5.3. Sucker Rod Market Absolute $ Opportunity
5. Global Sucker Rod Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Sucker Rod Market Size and Volume Forecast by Type
5.3.1. Steel sucker rod
5.3.2. FRP sucker rod
5.3.3. Hollow sucker rod
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Sucker Rod Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Sucker Rod Market Size and Volume Forecast by Application
6.3.1. No corrosion or effective suppression oil well
6.3.2. Corrosive oil well
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Sucker Rod Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Sucker Rod Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Sucker Rod Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Sucker Rod Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Sucker Rod Demand Share Forecast, 2019-2026
9. North America Sucker Rod Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Sucker Rod Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Sucker Rod Market Size and Volume Forecast by Application
9.4.1. No corrosion or effective suppression oil well
9.4.2. Corrosive oil well
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Sucker Rod Market Size and Volume Forecast by Type
9.7.1. Steel sucker rod
9.7.2. FRP sucker rod
9.7.3. Hollow sucker rod
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Sucker Rod Demand Share Forecast, 2019-2026
10. Latin America Sucker Rod Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Sucker Rod Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Sucker Rod Market Size and Volume Forecast by Application
10.4.1. No corrosion or effective suppression oil well
10.4.2. Corrosive oil well
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Sucker Rod Market Size and Volume Forecast by Type
10.7.1. Steel sucker rod
10.7.2. FRP sucker rod
10.7.3. Hollow sucker rod
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Sucker Rod Demand Share Forecast, 2019-2026
11. Europe Sucker Rod Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Sucker Rod Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Sucker Rod Market Size and Volume Forecast by Application
11.4.1. No corrosion or effective suppression oil well
11.4.2. Corrosive oil well
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Sucker Rod Market Size and Volume Forecast by Type
11.7.1. Steel sucker rod
11.7.2. FRP sucker rod
11.7.3. Hollow sucker rod
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Sucker Rod Demand Share, 2019-2026
12. Asia Pacific Sucker Rod Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Sucker Rod Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Sucker Rod Market Size and Volume Forecast by Application
12.4.1. No corrosion or effective suppression oil well
12.4.2. Corrosive oil well
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Sucker Rod Market Size and Volume Forecast by Type
12.7.1. Steel sucker rod
12.7.2. FRP sucker rod
12.7.3. Hollow sucker rod
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Sucker Rod Demand Share, 2019-2026
13. Middle East & Africa Sucker Rod Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Sucker Rod Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Sucker Rod Market Size and Volume Forecast by Application
13.4.1. No corrosion or effective suppression oil well
13.4.2. Corrosive oil well
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Sucker Rod Market Size and Volume Forecast by Type
13.7.1. Steel sucker rod
13.7.2. FRP sucker rod
13.7.3. Hollow sucker rod
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Sucker Rod Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Sucker Rod Market: Market Share Analysis
14.2. Sucker Rod Distributors and Customers
14.3. Sucker Rod Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Tenaris
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Dover
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Weatherford
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Nine Ring
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Kerui Group
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Jiyuan Petroleum Machinery
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Ocher Machinery
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. DADI Petroleum Machinery
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. John Crane
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Shengli Oilfield Highland
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Shengli Oilfield Freet
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Yanan Shoushan
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. Dongying TIEREN
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Shouguang Kunlong
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. CNPC Equipment
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Shandong Molong
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
