Oilfield Auxiliary Rental Equipment Market By Equipment (Drilling Equipment, Pressure and Flow Control Equipment, Others), By Application (Onshore, Offshore): Global Opportunity Analysis and Industry Forecast, 2020-2030
The global oilfield rental equipment market was valued at $28.3 billion in 2020, and is expected to reach $42.9 billion by 2030, registering a CAGR of 4.1% from 2021 to 2030.
Oilfield equipment is used for supporting activities at oilfields. These supporting processes are found in all major oil field functions such as drilling, extraction, refining, production, and transportation. The equipment used less frequently are availed on rent by the companies. Oilfield equipment consists of sewage systems, mud labs, distribution panels, storage tanks, debris junk catchers, drill pipe, transportation system, heat exchangers, flaring systems, and drilling instruments.
Rise in demand for petroleum products, increase in demand for enhancing the production of oil & gas, and surge in discoveries of offshore oilfields across the globe significantly contribute toward the growth of the global oilfield rental equipment market during the forecast period. However, growth in electric vehicle industry with reduction in number of conventional fuel vehicles and increase in stringent government regulations toward environmental pollution decrease demand for oil & gas, which, in turn, hamper the growth of the oilfield rental equipment market. Conversely, rise in investment toward oil & gas exploration and increase in production activities in offshore fields are expected to create potential growth opportunities for key players operating in this market.
The oilfield rental equipment market is segmented on the basis of equipment, application, and region. Depending on equipment, the market is fragmented into drilling equipment, pressure & flow control equipment, and others. According to application, it is divided into onshore and offshore. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the oilfield auxiliary rental equipment market analysis from 2020 to 2030 to identify the prevailing oilfield auxiliary rental equipment market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the oilfield auxiliary rental equipment market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global oilfield auxiliary rental equipment market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Equipment
Drilling Equipment
Pressure and Flow Control Equipment
Others
By Application
Onshore
Offshore
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Halliburton Company
Schlumberger Limited
Weatherford International, Plc
Key Energy Services, Inc.
Ensign Energy Services, Inc
Parker Drilling Company
Superior Energy Services, Inc.
Oil States International
TechnipFMC
Odfjell Drilling
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