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.
The factor which drives the growth of Oilfield Equipment Rental Service Market are changing. The perception of buyer have been shifted from buying to renting. The operator’s tendency to rent the oilfield equipment to minimize the equipment cost rather than buying results in the increasing growth of this market. The entry barriers and exit barriers have decreased in the oilfield equipment rental market, resulting in the growth of these market. The increased expenditure on oil and gas production for the development of the reservoirs, has also resulted in the growth of oilfield equipment rental service market. The increase in economies of scale due to the use of oilfield equipment also result in the growth of these market.
Request a Sample Copy @ https://www.marketresearchfuture.com/sample_request/2515
- Halliburton Co. (U.S.),
- Oil States International Inc. (U.S.),
- Schlumberger Ltd (U.S.),
- Superior Energy Services Inc. (U.S.),
- 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.).
Market Research Analysis
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.
North America accounts for the highest market share
The North America region has witnessed the largest market share for the oilfield equipment rental services market because of the presence of large number of drilling activities taking place in U.S. The growth in North America is also because of the increase in the demand of conventional and non-conventional drilling. The increase in the drilling activities in countries such as India, China and Russia has led to the growth of Asia-Pacific region. Latin America region has mainly driven by the increase in the E&P spending in this region.
This research report has provides the insights, on various levels of analyses such industry analysis, market share analysis leading market players and their profiles. This report also helps in studying the target segments by providing views on emerging & high-growth segments and market conclusion. Together the market data comprise and discuss with the basic assessments on the competitive scenarios & strategies, of the global oilfield equipment rental services market, including the high-growth regions, countries and their political, economic and technological environments. Furthermore the project report also provides the views over the historical market values as well as, pricing and cost analysis of the same.
Table of Content
1 Executive Summary
2 Research Methodology
2.1 Scope Of The Study
2.1.2 Research Objective
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market Size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
4 Global Oilfield Equipment Rental Services Market, By Drilling Equipment
4.1 DRILL PIPE
4.2 DRILL COLLARS
4.4 Drill Subs
5 Global Oilfield Equipment Rental Services Market, By Pressure & Flow Control Equipment
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.
Company Name: Market Research Future
Contact Person: Akash Anand
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar, Pune –