Press release
Oilfield Equipment Rental Services Market to Witness a CAGR of 15% from 2017 to 2022
Oilfield Equipment Rental Services Market
MRFR recognizes key players in Global Oilfield Equipment Rental Services market as: Halliburton Co. (U.S.), Oil States International Inc. (U.S.), Schlumberger Ltd (U.S.), Superior Energy Services Inc. (U.S.), and Weatherford International Ltd. (Switzerland), Baker Hughes (U.S.), National Oilwell Varco (U.S.), Cameron International Inc. (U.S.), Transocean Ltd. (Switzerland), B&B Oilfield Equipment Corp (U.S.).
The Oilfield Equipment Rental Services Market is expected to grow over the CAGR of around 15% during the period 2016 to 2022.
Oilfield equipment is an equipment that extracts oil and gas from the reservoir. In order to reduce the capital expenditure of these equipment, the oilfield operators take these equipment on rent or lease. Due to growing energy demand, oilfield equipment rental is highly developing market. Oilfield equipment are generally used in drill pipe, drill subs and among others. The major factors driving the growth of oilfield equipment rental services market are increase in the drilling activities globally, reduction in capital expenditure because of renting of equipment rather than buying. The other factors which are responsible for the growth of this market are the growing energy needs, use of conventional and non-conventional drilling activities.
North America is expected to dominate the oilfield equipment rental services market due to the increase in the drilling activities in this region. Due to this most of the companies are operating in this region. Asia-Pacific is second largest region to dominate the market because most of the operators have started diversifying their operation in this region because of growing number of wells being drilled. Latin America is also experiencing growth due to the increase in E&P spending in this region.
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Research Insights:
The market is segmented based on the drilling equipment. Drill pipe is dominating the drilling equipment segment because most of the wells being drilled, use frill pipes and have considerable depths. The increase in the global petroleum consumption and increase in investment for the development of offshore oil field has also resulted in the growth of drill pipe.
The factors which are responsible for the growth of oilfield equipment rental services market are the rising demand for energy and drilling activities.
The customization of the drilling equipment and rising cost of the materials are the major restraints for this market.
Scope of the Report
This study provides an overview of the global oilfield equipment rental services market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region.
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The scope of the study segments the global oilfield equipment rental services market by drilling equipment, by pressure & flow control equipment and by region.
By Drilling Equipment:
• Drill Pipe
• Drill Collars
• Heavv-Wate
• Drill Subs
By Pressure & Flow Control Equipment:
• BOP
• Valves & Manifolds
• Others
By Region:
• North America
• Europe
• Asia-Pacific
• ROW
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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