Oilfield Rental Market, by Equipment – Drilling, Pressure Control & Flow Control, Fishing
Published Date: April 2013
Price: Single User: US $ 4650
Corporate User: US 7150
Oilfield Rental Market, by Equipment - Drilling (Drillpipe, Drill Collars, Heavy-wate, Subs), Pressure Control & Flow Control (BOPs, Valves, and Manifolds), Fishing, and Others Rising oil & gas prices and increasing drilling activity will drive the global oilfield equipment rental (oilfield rental) market to $46.8 billion by 2018. North America, with its increased focus on unconventional shale plays and keen oil & gas industry, is expected to experience highest revenue growth during the next five years. The factors driving growth in the OER market are increasing drilling activity and rising oil prices. These factors are driving the production of uneconomical field viable, tendency of drilling contractor & oilfield service providers to rent rather than buy equipment, and advancements in technology that hugely favors renting. Oilfield rental is a highly developing market despite its large base due to growing energy demand. The market is expected to experience high growth due to the increasing oilfield expenditure and flourishing oil & gas industry of Africa and Latin America. Oilfield rental industry is highly fragmented and localized. Most players in this industry are very small and have a very paltry area of influence, barring a few which are genuinely the rental divisions of big OFS (oilfield service) provider companies. One’s offering rental tools in unconventional shale plays and ultra deep-water fields are the most successful rental companies. Through mergers and acquisitions, many large-cap oilfield service companies have been able to bring several complementary technologies under one provider. This also helps in increasing their overall market presence, thus increasing rental revenues. Weatherford International Ltd (Switzerland) is the largest player in this market. Since North America is the biggest market, most of the notable rental companies operate here.
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