Oilfield Equipment Rental Services Market Size, Analysis, and Forecast Report 2017-2022
Market Highlights The factor which drives the growth of oilfield equipment rental service market are changing. The perception of buyer have been shifted from buying to renting. The operator’s tendency to rent the oilfield equipment to minimize the equipment cost rather than buying results in the increasing growth of this market. The entry barriers and exit barriers have decreased in the oilfield equipment rental market, resulting in the growth of these market. The increased expenditure on oil and gas production for the development of the reservoirs, has also resulted in the growth of oilfield equipment rental service market. The increase in economies of scale due to the use of oilfield equipment also result in the growth of these market. North America accounts for the highest market share The North America region has witnessed the largest market share for the oilfield equipment rental services market because of the presence of large number of drilling activities taking place in U.S. The growth in North America is also because of the increase in the demand of conventional and non-conventional drilling. The increase in the drilling activities in countries such as India, China and Russia has led to the growth of Asia-Pacific region. Latin America region has mainly driven by the increase in the E&P spending in this region. Get Sample of Report @ https://www.marketresearchfuture.com/sample_request/2515 Key Players Halliburton Co. (U.S.), Oil States International Inc. (U.S.), Schlumberger Ltd (U.S.), Superior Energy Services Inc. (U.S.), Weatherford International Ltd. (Switzerland), Baker Hughes (U.S.), National Oilwell Varco (U.S.), Cameron International Inc. (U.S.), Transocean Ltd. (Switzerland), B&B Oilfield Equipment Corp (U.S.). Market Research Analysis The market is segmented based on the drilling equipment. Drill pipe is dominating the drilling equipment segment because most of the wells being drilled, use frill pipes and have considerable depths. The increase in the global petroleum consumption and increase in investment for the development of offshore oil field has also resulted in the growth of drill pipe
The factors which are responsible for the growth of oilfield equipment rental services market are the rising demand for energy and drilling activities. The customization of the drilling equipment and rising cost of the materials are the major restraints for this market. Regional Analysis of Oilfield Equipment Rental Services Market The North America region accounts for the largest market for oilfield equipment rental market due to presence of large number of drilling activities in U.S. There is an increase in the demand for the conventional and non-conventional drilling in these region which have resulted in the growth of this market. The growth in Asia-Pacific is majorly driven by the increase in the drilling activities in countries such as India, China and Russia. The growth in Latin America is mainly due to the increase in E&P spending in this region. Get Complete Report @ https://www.marketresearchfuture.com/reports/oilfield-equipmentrental-services-market-2515 About Market Research Future: At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions. Contact: Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar, Pune - 411028 Maharashtra, India +1 646 845 9312 Email: sales@marketresearchfuture.com