DALLAS, September 1, 2014 /PRNewswire/ --
The market study on "Oilfield Equipment Rental Market by
Drilling Equipment (Drill Pipe, Drill Collars, Heavy-Wate, Drill
Subs), Pressure & Flow Control Equipment (BOP, Valves &
Manifolds), Fishing Equipment and Other Equipment - Global Trends
and Forecasts to 2019"published by MarketsandMarkets, defines
and segments the market with regional forecast and segment revenue
estimates through to 2019. Top market players from the industry
segment have been studies in order to track developments,
technologies and other key business strategies that define the
Oilfield Equipment Market environment. The Oilfield Equipment
Rental Market will grow from an estimated $26,818 million in 2014 to $53,706 million by 2019 with a CAGR of 14.9% from
2014 to 2019.
Browse 110 market data tables and 52 figures spread through 339
pages and in-depth TOC on "Oilfield Equipment Rental
Market - Global Trends and Forecasts to 2019"
http://www.marketsandmarkets.com/Market-Reports/oilfield-equipment-rental-market-1083.html
Early buyers will receive 10% customization on this
report.
North America: The largest
market for Oilfield Equipment Rental market
The North American region holds the largest market for oilfield
equipment rental, driven largely by the number of drilling and
E&P activities in the U.S. North
America, due to its growing energy needs and flourishing
conventional and unconventional drilling and oilfield service
industry is the major growth engine for this market.
Drilling Equipment: Biggest Market by Equipment
Type
Drilling equipments are the most commonly rented equipments
amongst all oilfield equipments. Advanced drilling techniques such
as horizontal drilling and ultra deep drilling have made extraction
of shale gas possible. Rising energy demand is increasing the oil
and gas E&P (exploration & production) and drilling
activities globally which in turn is driving the rental equipment
market. The enormous potential of this market is attracting various
small and big level industry players.
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The oilfield equipment rental industry is fragmented and offers
several opportunities for consolidation and growth in efficiency
through an increase in economies of scale. The rental facility has
reduced the entry barrier and exit barriers in the industry.
Renting equipments are much more feasible viable for new comers
than buying purchasing costly equipments. Hence, the perception of
buyers has shifted from buying towards renting equipments. This is
a major driver of the Oilfield Equipment Rental Market. Top
five players of the OER market are the suppliers of equipments for
oilfield service. Weatherford International Ltd (Ireland) rents its equipment under the
drilling tools segment whereas Halliburton (U.S.) maintains
oilfield rental companies in the form of Boots & Coots (U.S.)
and PWR Rentals (U.S.). Schlumberger (U.S.) too has Thomas Oil
Tools as its rental subsidiary, Chesapeake (U.S.) has Great Plains
Oilfield Rentals (U.S.), and Superior Energy Services (U.S.) has a
number of rental companies in its portfolio.
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