Oilfield Equipment Rental
Services Market Overview
Oilfield
equipment is a device used for extracting oil and gas from the reservoir. In
order to lessen the capital outlay on this equipment, the oilfield operators take
this equipment on lease or rent. Market Research Future, in its recent study,
revealed that, the global market for oilfield equipment rental services is
expanding rapidly. The report published by them further reveals that the market
is estimated to gain prosperity within 2022. The worldwide rising demand for
energy has resulted in rapid growth in the offshore drilling activities to meet
the rising demand, which ultimately has triggered significant boost to the
oilfield equipment rental services market.
Additionally,
new oil reserve inventions would accelerate the exploration and drilling
activities in the coming years which will boost the demand for the market.
However, strict government regulations coupled with environmental risks for
drilling as well as surging focus on renewable energy may restrict the growth
of the market. The key
players make a significant investment for research and development activities
and for securing a guaranteed resource for the clients. Oilfield equipment
rental services market witness a surged growth potential which is expected to
attract several entrants to the market leading to further intensified
competition.
Market Segmentation
The global Oilfield
Equipment Rental Services Market has been segmented based on pressure and flow control equipment,
drilling equipment, application, and region. Based on drilling equipment, the
market has been segmented into drill collars, drill pipe, drill subs and
others. Drill pipe dominates the pressure & flow control equipment segment
of global market owing to its wide application in drilling the wells. Based on
pressure & flow control equipment, the market has been segmented into
valves & manifolds, BOP, and others. BOP leads the pressure & flow
control equipment segment of global market. BOP finds wide application in
sealing, controlling and monitoring the oil and gas wells and to avoid the
blowout. Based on application, the market has been segmented into offshore and
onshore. Onshore leads the application segment of global market primarily owing
to the prevalence of large onshore shale reserve. Offshore segment is likely to
be the swiftest growing segment over the forecast period. Based on regions, the
market has been segmented into Europe, North America, Middle East & Africa,
Asia Pacific, and South America.
Access Full Report at: https://www.marketresearchfuture.com/reports/oilfield-equipment-rental-services-market-2515
Regional Analysis
North
America represents the highest share in the oilfield equipment rental services
market, the U.S. being the key player. The progress in unconventional drilling
technologies has attracted outlay for oil and gas drilling projects.
Furthermore, vast hydrocarbon resources in the U.S. shale basins and increasing
offshore drilling in the Gulf of Mexico, are accelerating the demand of the
market. Besides, most of the key players are prevailing in this region. This
has affected the growth of the market in an extremely positive way.
Key Players
The
global oilfield equipment rental services market is dominated by key players
such as Oil States International Inc. (U.S.), Halliburton Co. (U.S.),
Schlumberger Ltd (U.S.), Weatherford International Ltd. (Switzerland), Superior
Energy Services Inc. (U.S.), National Oilwell Varco (U.S.), Baker Hughes
(U.S.), Transocean Ltd. (Switzerland), Cameron International Inc. (U.S.),
and B&B Oilfield Equipment Corp (U.S.).
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