Oilfield Rental Market worth $46.8 Billion by 2018

Tuesday 16 April 2013, Amsterdam

The report "Oilfield Rental Market, by Equipment - Drilling (Drillpipe, Drill Collars, Heavy-wate, Subs), Pressure Control & Flow Control (BOPs, Valves, and Manifolds), Fishing, and Others – Global Market Trends & Forecast to 2018".

Oilfield equipment rental market is mainly driven by growing demand for energy. Rising energy demand is increasing the oil & gas E&P (exploration & production) and drilling activities globally, which in turn is driving the rental equipment market. North America, due to its growing energy needs and flourishing drilling & oilfield service industry, is the major growth engine for this market.

The immense potential of this market is attracting various small and big level industry players. The rental market is experiencing a huge surge, especially in Africa and Latin America, due to its booming oil & gas industries. On an account of rising oil prices and increasing complexities in oil & gas exploration, the market will experience an escalation in demand of rental equipment in the years to come.

The equipment rental players are constantly trying to modify their product line with highly customized and advanced equipment in order to acquire more supply contracts which in turn would increase their market shares. This market has very few large players that are mainly the rental divisions of major oilfield service providers. Most of these players are local companies operating in specific areas and capturing insignificant market shares individually. Weatherford International Ltd (Switzerland) is the largest player of this market followed by Superior Energy Services (U.S.) and Halliburton (U.S.).

The report forecasts revenue of the global OER market and its various submarkets with respect to six main regions namely, North America, Europe & Eurasia, Asia-Pacific, Latin America, Middle East, and Africa. At the country level U.S., China, Japan, India, Norway, U.K., Russia, Iran, Brazil, Mexico, and several other countries were analyzed.

The report segments the global oilfield equipment rental market by types of rental equipment such as drilling equipment, pressure & flow control equipment, fishing equipment, etc. The markets for most used drilling and pressure & flow control tools has been estimated in this report. It also focuses on market share analysis and metrics such as drivers, restraints, opportunities, and winning imperatives.