According to the latest IMARC Group report, titled “Oilfield Equipment Rental Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” finds the global oilfield equipment rental market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 5% during 2021-2026.
Oilfield equipment rental refers to the facility of hiring equipment for a predefined time to extract and drill oilfields temporarily. It usually comprises tools, products, and related services that help explore oil reserves for catering to the energy requirements. It requires a minimal cost of acquisition and maintenance compared to conventional purchasing of the equipment. Presently, equipment like valves and pumps, drilling, pressure and flow, wireline tools, drill bits, blowout preventers (BOP), mud pumps, and artificial lift systems can be rented globally.
Report Metric
Historical: 2015-2020
Base Year: 2020
Forecast Year: 2021-2026
Oilfield Equipment Rental Market ReportOilfield Equipment Rental Market Report
Global Oilfield Equipment Rental Market Trends:
The escalating demand for natural gas and crude oil on account of the increasing energy needs worldwide represents one of the key factors influencing the market positively. Apart from this, the development of radio frequency identification (RFID)enabled equipment, which aids in enhancing drilling and hole-cleanup operations, is strengthening the market growth. Moreover, advancements in deepwater and ultra-deepwater drilling activities, along with significant improvements in oil and gas infrastructure, are propelling the market growth.
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Global Oilfield Equipment Rental Market 2021-2026 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Energy Services Inc., Bestway Oilfields, Circle T Service & Rental Ltd., Ensign Energy Services Inc., Halliburton Company, John Energy Ltd., Parker Drilling Company, Schlumberger Limited, Seventy Seven Energy Inc., Superior Energy Services Inc., Technipfmc PLC and Weatherford International PLC.
The report has segmented the market on the basis on region, equipment and application.
Breakup by Equipment:
- Drilling
- Drill Pipe
- Drill Collars
- Subs
- Others
- Pressure & Flow Control
- Blow Out Preventer (BOP)
- Valves & Manifolds
- Others
- Others
Breakup by Application:
- Onshore
- Offshore
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021- 2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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