Oilfield Equipment Rental Market Size, Share & Trends Analysis Report By Type (Drilling Equipment, Pressure & Flow Control), By Application (Onshore, Offshore), By Region (North America, Europe, Asia Pacific), And Segment Forecasts, 2024 - 2030
Oilfield Equipment Rental Market Size, Share & Trends Analysis Report By Type (Drilling Equipment, Pressure & Flow Control), By Application (Onshore, Offshore), By Region (North America, Europe, Asia Pacific), And Segment Forecasts, 2024 - 2030
Oilfield Equipment Rental Market Trends
The global oilfield equipment rental market size was estimated at USD 24.13 billion in 2023 and is anticipated to grow at a CAGR of 3.8% from 2024 to 2030. Rising global investments in oil & gas exploration and production (E&P) activities are a major driver for the market. Crude oil and natural gas demand is increasing, leading operators to ramp up drilling and production.
Moreover, oil & gas operators increasingly favor rental over ownership of oilfield equipment. Renting provides flexibility, reduces upfront capital expenditure, and transfers maintenance responsibilities to the rental provider. Furthermore, oilfield equipment is becoming more advanced, enabling economical exploration of unconventional and deep hydrocarbon resources like shale, tight gas, and heavy oil. Technologies like horizontal drilling, deep drilling, and RFID circulation subs are being widely adopted. These aforementioned factors are anticipated to drive the demand for the market.
Global Oilfield Equipment Rental Market Report Segmentation
This report forecasts revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global oilfield equipment rental market based on the type, application, and region:
Type Outlook (Revenue, USD Million, 2018 - 2030)
Drilling Equipment
Drill Pipe
Drill Collar
Hevi-Wate
Others
Pressure & Flow Control
Blow Out Preventer
Valves & Manifolds
Others
Fishing Equipment
Others
Application Outlook (Revenue, USD Million, 2018 - 2030)
Onshore
Offshore
Regional Outlook (Revenue, USD Million, 2018 - 2030)
North America
U.S.
Canada
Mexico
Europe
Russia
Norway
UK
Netherlands
Germany
Asia Pacific
China
India
Japan
Indonesia
Latin America
Brazil
Argentina
Venezuela
Middle East & Africa
Kuwait
Saudi Arabia
UAE
Nigeria
Iraq
Qatar
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Chapter 1. Methodology and Scope
1.1. Market Segmentation and Scope
1.2. Market Definitions
1.3. Research Methodology
1.3.1. Information Procurement
1.3.2. Information or Data Analysis
1.3.3. Market Formulation & Data Visualization
1.3.4. Data Validation & Publishing
1.4. Research Scope and Assumptions
1.4.1. List of Data Sources
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights
Chapter 3. Customer Communication Management Software Variables, Trends, & Scope
3.1. Market Introduction/Lineage Outlook
3.2. Industry Value Chain Analysis
3.3. Market Dynamics
3.3.1. Market Drivers Analysis
3.3.2. Market Restraints Analysis
3.3.3. Industry Opportunities
3.4. Customer Communication Management Software Analysis Tools