Oil And Gas Ropes Market is Projected to Reach US$ 1.9 Billion in 2027

Stratview Research estimates that the oil & gas ropes market is likely to grow at a modest CAGR of 1.6%, during the forecast period, to reach a value of US$ 1.9 Billion in 2027.

Raipur, Dec. 22, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the Oil and Gas Ropes Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.

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How is the Report Helpful?

The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.

Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.

Market Segmentation:

Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.

  • Application Type - Onshore [Drilling Lines and Well Servicing], Offshore Exploration [Drilling Rigs, Marine Riser Tensioner, Subsea Winches, Mooring, Offshore Cranes, and Lifeboat], Offshore Construction [A&R Winches, Subsea Winches, Offshore Cranes, Floating Cranes, Mooring, Diving Bells, and Lifeboat], and Offshore Production [Offshore Cranes, Subsea Winches, Mooring, and Lifeboat]
  • Material Type - Steel Ropes and Synthetic Ropes
  • End-User Type - OE and Aftermarket
  • Region - North America [The USA, Canada, and Mexico], Europe [Russia, The UK, Norway, and Rest of Europe], Asia-Pacific [China, Indonesia, India, and Rest of Asia-Pacific], and Rest of the World [Saudi Arabia, Brazil, and Others].

Segments' Analysis

Based on the application type, offshore production dominates the market, whereas offshore exploration is likely to be the fastest-growing application segment during the forecast period. In this study, the onshore segment is further bifurcated into drilling lines and well servicing. Similarly, offshore exploration is sub-segmented as drilling rigs, marine riser tensioners, subsea winches, mooring, offshore cranes, and lifeboats.

Based on the raw material type, Steel ropes dominated the market in 2021, and are expected to maintain their position during the forecast period, owing to their higher load-bearing capacity and proven track record.

In terms of regions, Rest of the World, which majorly includes the Middle East, Latin America, and Africa, dominated the market, and is expected to maintain its dominance throughout the forecast period.

The Middle East is home to the world's largest producers of oil and gas, including Saudi Arabia, the UAE, and Iraq. Asia-Pacific holds the second-largest position in the market and is expected to witness the highest growth during the forecast period, primarily driven by China, Indonesia, and India.

Europe and North America also hold significant shares of the global oil & gas ropes market. Russia dominates the European market, whereas the USA is the leader in the North American oil & gas ropes market.

To know about the covid-19 impact, get a free sample report, here:


Who are the Key Market Players?

The following are some of the key players in the oil & gas ropes market:

  • Bridon-Bekaert (The Ropes Group)
  • KISWIRE Ltd.
  • Teufelberger-Redaelli
  • Usha Martin Limited
  • WireCo World Group

What deliverables will you get in this report?

  • In-depth analysis of the Oil & Gas Ropes Market
  • Detailed market segmentation.
  • Competitive-landscape analysis.
  • Historical, present, and future market size analysis.
  • Industry trends, technologies, and advancements.
  • Growth and operation strategies adopted by key players.
  • Potential segments/regions offering promising growth.
  • Geographical presence of the key players.

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