The market growth is driven by several factors such as increasing technological advancements in oilfield equipment, rising global investments in Exploration & Production (E&P), growing drilling activity, and increasing unconventional hydrocarbon production in North America.
However, the growth is retrained by few factors such as customized demands by drillers, uncertain regulatory framework and equipment utilization and cold stacked inventory.
The global Oil & Gas Equipment Rental market was valued at USD YY million in 2016, USD YY million in 2017, and is estimated to reach USD YY million by 2022, with a CAGR of 4.8% during the forecasting period (2019-2026).
The global Oil & Gas Equipment Rental market is segmented by equipment type into Drilling Equipment (Drill Pipe, Drill Collar, Hevi-Wate, Subs and Other Drilling Equipment), Pressure & Flow Control Equipment (Blow Out Preventer (BOP), Valves & Manifolds, and Other Pressure & Flow Control Equipment), Fishing Equipment, and Other Oilfield Equipment.
The drilling equipment market segment, by type, is expected to dominate the oilfield equipment rental market during the forecasting period due to increasing shale mining in North America and technological advancement in the drilling equipment used in such unconventional shale reserves.
Geographically, the market is segmented into North America, South America, Europe, Asia Pacific and RoW. North America is expected to dominate the global oilfield equipment rental market due to growing unconventional hydrocarbon production in the region. North America is the new leading producer of global oil markets due to the boom in production from both shale operations and deep-water exploration and production in the Gulf of Mexico. With increasing capital spending by major oil companies, exploration and production activities in this region are expected to grow. Hence, due to all these factors, the North American oilfield equipment rental market is growing.
This graph shows the projected U.S. equipment rental market size from 2017 through 2021. In 2021, the equipment rental market in the United States is forecasted to be sized at approximately 59.4 billion U.S. dollars. The general tool rental segment was projected to grow at a compound annual growth rate (CAGRs) 6.1 percent.
Key Market Players
The major players in the global Automation market includes Schlumberger Limited, Halliburton Company, Superior Energy Services, Inc., Oil States International, Inc., Technipfmc, PLC, Weatherford International, PLC, Parker Drilling Company, Seventy Seven Energy, Inc., Basic Energy Services, Inc., Key Energy Services, Inc., John Energy, Ltd., Circle T Service & Rental, Ltd., Ensign Energy Services, Inc., Bestway Oilfields and Kit Oil & Gas.
Scope of the Market Report
The report covers the factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles.
Why purchase the report?
Chapter 1: Table of Contents
Chapter 2: Executive Summary
Chapter 3: Methodology and Scope
3.1 Research Methodology
3.2 Scope of the Report
Chapter 4: Oil & Gas Equipment Rental Market- Headlines & Trends
4.2 Key Trends & Developments
Chapter 5: Oil & Gas Equipment Rental - Industry Analysis
5.1 Industry Impact Factors (Drivers & Restraints)
5.2 Porter 5 Forces
5.4 Regulatory Analysis
Chapter 6: Oil & Gas Equipment Rental - Market Segmentataion Analysis
6.1.1 Drilling Equipment
188.8.131.52 Drill Pipe
184.108.40.206 Other drilling equipment
6.1.2 Pressure & Flow Control Equipment
220.127.116.11 Blow Out Preventer (BOP)
18.104.22.168 Valves & Manifolds
22.214.171.124 Other Pressure & Flow Control Equipment
6.1.3 Fishing Equipment
6.1.4 Other Oilfield Equipment
6.2 By Region
6.2.1. North America
126.96.36.199 The USA
188.8.131.52 The UK
184.108.40.206 Rest of Europe
6.2.3 Asia Pacific
220.127.116.11 Rest of Asia Pacific
6.2.2 Middle East and Africa
18.104.22.168 South Africa
22.214.171.124 Rest of Middle East and Africa
6.2.5 South America
126.96.36.199 Rest of South America
Chapter 7: Oil & Gas Equipment Rental Market - Competitive Landscape
7.1 Market Share Analysis
7.2 Price Trend Analysis
7.3 Key Strategies adopted by Manufacturers
7.4 Product Benchmarking
Chapter 8: Company Profiles
8.1 Schlumberger Limited
8.2 Halliburton Company
8.3 Superior Energy Services, Inc.
8.4 Oil States International, Inc.
8.6 Parker Drilling Company
8.7 Weatherford International
8.8 Seventy Seven Energy
8.9 Basic Energy Services
8.10 Key Energy Services Inc.
8.11 John Energy Ltd.
8.12 Circle T service & Rental Ltd.
8.13 Ensign Energy Services Inc.
8.14 Bestway Oilfields
8.15 Kit Oil & Gas
Chapter 9: Oil & Gas Equipment Rental Market - Appendix
9.2 Analysis Supporting Database
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