Oilfield Equipment Rental Market
Oilfield Equipment Rental Market Global Industry Assessment & Forecast
#
Pages:
180
2021
Nov - 2021
VMR-2021-0469
Segments Covered
By
Equipment Drilling, Pressure & Flow Control
-
By
Application Onshore, Offshore
Snapshot
 Forecast
Years:
|
2021 - 2028 |
 Historical
Years:
|
2016 - 2020 |
 Revenue
2021: |
20.50 Billion |
 Revenue 2028:
|
27.82 Billion |
 Revenue CAGR
(2021 - 2028): |
3.89 |
Fastest Growing Region (2022 -
2028)
|
North America |
Customization Offered
Cross-segment Market Size and
Analysis
for Mentioned Segments- Additional Company Profiles (Upto 5
With
No Cost)
- Additional Countries (Apart From
Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
- Others Request
Customization Speak To
Analyst
Equipment Analysis: Preview On the basis of Equipment,
the market is segmented into Drilling, Pressure & Flow Control. Drilling held the
highest share in 2020 and is expected to grow at a significant rate over the
forecast period. This is attributed to the rising demand for the Drilling
in developing countries such as China and India. Digitalization in Asia Pacific
region has led to a surge in the usage of technology in various business
processes over the past few years. Rising adoption of online platforms across
various sectors along with analytical solutions, IoT, AI, and Blockchain
technology to gain a competitive advantage is also paving the way for the Oilfield Equipment Rental
market growth. Application
Analysis: Preview
Based on Application,
the market is segmented into Onshore, Offshore. Onshore held the
largest share and is projected to grow at a notable CAGR over the coming years.
Rising demand for Oilfield Equipment Rental in various countries
such as the U.S., Germany, China, India, and Japan, among others is likely to
support the growth of the market. Numerous companies are focusing on investing
heavily in this application to cater the end user requirements effectively.
Global Oilfield Equipment Rental Market: Equipment Segment Analysis
-
- Drilling
- Pressure & Flow Control
Global Oilfield Equipment Rental Market: Application Segment Analysis
-
- Onshore
- Offshore
FAQ
Frequently Asked Question
What is the global demand for Oilfield Equipment Rental in terms of revenue?
-
The global Oilfield Equipment Rental valued at 20.50 Billion in 2020 and is expected to reach 27.82 Billion in 2028 growing at a CAGR of 3.89%.
Which are the prominent players in the market?
-
The prominent players in the market are Halliburton Company, Knight Oil Tools, Oil States International Inc., Schlumberger Limited, RPC, Parker Drilling Company, Weatherford International PLC, Basic Energy Services, AOS ORWELL, IOT GROUP, KIT Oil & Gas, Superior, Energy Services Inc., Certified Oilfield Rentals LLC, Bois B.V., Key Energy Services, Ensign Energy Services, FMC Technologies, Precision Drilling..
At what CAGR is the market projected to grow within the forecast period?
-
The market is project to grow at a CAGR of 3.89% between 2021 and 2028.
What are the driving factors fueling the growth of the market?
-
The driving factors of the Oilfield Equipment Rental include
- Several oil & gas players have started shifting their exploration focus to unconventional with deep hydrocarbon reservoirs such as coal bed methane (CBM),shale gas, tight gas, and heavy oil. Petroleum market currently, have advanced IT machinery and different software for operations of different unconventional as well as deep reservoir conditions. Thus, the increasing shift towards unconventional exploration is expected to augment the growth of the market over the forecast period.
- The increasing technologies for improving productivity is expected to support the growth of the market in the near future.
Which region accounted for the largest share in the market?
-
North America was the leading regional segment of the Oilfield Equipment Rental in 2020.
