Global Oilfield Equipment Rental Market 2017-2021

Overview of the global oilfield equipment rental market  

Technavio’s market research report predicts that the global oilfield equipment rental market will grow at a CAGR of nearly 5% during the forecast period. Advances in the drilling technology are one of the primary drivers for market growth. Longer laterals, minimal liner and casing, enhanced drilling rates, and multi-pad drilling and improvements in the surface operations are some of the major technological advancements. These improvements also include a rise in the number and position of the fracturing stages and the shift to hybrid fluid systems. Moreover, the market also consists of innovative technologies that have assisted in monitoring detailed drilling activities during operations such as deepwater and ultra-water deepwater drilling activities. Furthermore, in the absence of possibilities to track the activities in unconventional regions, real-time systems play a significant role, and multilateral technologies are preferred for heavy oil applications. Such applications will drive the oilfield equipment rental market growth in the future.

In terms of geography, the Americas led the global oilfield equipment rental market during 2016 and is expected to continue the domination during the forecast period. The rising demand for oil and gas and the high possibility of major investments in the oil and gas sector during the forecast period drives the growth of the market in the region.

What's your takeaway?

Technavio's industry research report titled - Global Oilfield Equipment Rental Market will help you-

• Identify latent opportunities and explorative solutions in the oilfield equipment rental market
• Identify your key competition, and what's making them tick?
• Help you build a comprehensive marketing plan, all permutations and combinations inclusive

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Competitive analysis and key vendors

The players in the global oilfield equipment rental market are adopting different strategies to stay ahead of the competitors. The regional market competitors are focused on research and development to develop new products and innovative technologies to cater to the shifting market dynamics. Strategies such as M&A activities, joint ventures, contracts, agreements, and partnerships help the market players increase their revenue shares.

Key vendors in the market are:

• Ensign Energy Services
• Halliburton
• Precision Drilling
• Schlumberger
• Weatherford

Other prominent vendors include AOS ORWELL, Basic Energy Services, FMC Technologies, IOT GROUP, Key Energy Services, Knight Oil Tools, Oil States International, Parker Drilling, RPC, and Superior Energy Services.

Segmentation by application and analysis of oilfield equipment rental market

• Onshore
• Offshore

During 2016, the onshore application segment dominated the global oilfield equipment rental market and is expected to continue the dominion over the next four years. The concentration of oil and gas and E&P activities in onshore sites will drive the growth of this market segment.

Segmentation by product and analysis of oilfield equipment rental market

• Drilling equipment
• Pressure and control valves

As per the Technavio’s oilfield equipment rental market research report, the drilling equipment segment led the global oilfield equipment rental market during 2016 and is expected to continue the domination during the forecast period. Factors such as the rising demand for oil and gas across the globe and the utilization of oilfield equipment in oilfields will accelerate the segment’s growth in the market.

Key questions answered in the report include

• What will the oilfield equipment rental market size and the growth rate be in 2021?
• What are the key factors driving the global oilfield equipment rental market?
• What are the key oilfield equipment rental market trends impacting the growth?
• What are the challenges to market growth?
• Who are the key vendors in the global oilfield equipment rental market?
• What are the market opportunities and threats faced by the vendors in the global oilfield equipment rental market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global oilfield equipment rental market?