Saudi Arabia oil field equipment rental market is anticipated to register growth with an impressive CAGR in the forecast period, 2023-2027, on the account of increasing oilfield explorations in the country. The country possesses over 17% of the world’s proven petroleum reserves. The oil and gas industry accounts for over 50% of the country’s GDP and about 70% of the export business from the country. The ever expanding industry generates higher demands for the oil field equipment, thereby driving the growth of the Saudi Arabia oil field equipment rental market in the upcoming five years.

Growing Oil Industry Promises Market Growth

Saudi Arabia oil industry is ever expanding rapidly and accounts for over half of the country’s economy. Growing demand for oil & petroleum products and growing globalization around the world is a major factor driving the growth of the Saudi Arabia oil field equipment rental market in the upcoming five years. With surge in the demands, more excavation and oil extraction from the reserves are growing and aiding the demands for the tools, equipment and machinery for the purposes thereby supporting the growth of the Saudi Arabia oil field equipment rental market in the next five years.

In 2020, the oil sector in Saudi Arabia generated an estimated gross domestic product (GDP) of approximately USD162 billion. Current consumption trend assures the active reserves in the country may last over 200 years in future. Although more sites for excavation, and oil extraction is researched rapidly. The growing excavation demands technologically advanced equipment and tools and thus plays a vital role in the growth of the Saudi Arabia oil field equipment rental market in the future five years.

Technological Advancements Drive Market Growth

Market players in the industry are actively focused on research and technological advancements to the oil field equipment that supports the growth of the Saudi Arabia oil field equipment rental market in the upcoming five years. In the recent years the active market players have strategically shifted their focus on unconventional and deeper hydrocarbon sources. The oil extractions have shifted recently toward shale gas, coal bed methane, tight gas, and heavy oil.

Involvement of the IT based processes and IT integrated functioning of the equipment to monitor the reservoirs, identify their capacities, and drilling processes establishes further demands for the advanced oil field equipment, thereby substantiating the growth of the Saudi Arabia oil field equipment rental market in the forecast years. Advanced Radio Frequency Identification (RFID) technology is utilized to assist in the drilling and oil-hole cleaning up procedures. Advanced technologies like horizontal drilling and hydraulic fracturing, aid in opening shale oil & gas formations. There has been a significant rise is the horizontal component of the oil rig count that would further aid the growth of the Saudi Arabia oil field equipment rental market in the next five years.


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Market Segmentation

The Saudi Arabia oil field equipment rental market is segmented by type, location, competitional landscape, and regional distribution. Based on type, the market is fragmented into drilling equipment, pressure & flow control equipment, fishing equipment, and others. Drilling equipment includes drill pipe, drill collars, drill bit, and others. By location, the market is differentiated between onshore and offshore. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among Northern & Central Region, Eastern Region, Western Region, and the Southern Region.

Company Profile

Halliburton Company, Schlumberger N.V. (Schlumberger Limited), Chesapeake Energy Corporation, Weatherford International public limited company, Precision Drilling Corporation, Parker Drilling Company, Superior Energy Services Inc., Oil State International Inc., Basic Energy Services Inc., FMC Technologies, Inc., among others is a partial list of major market players of the companies responsible for the growth of Saudi Arabia oil field equipment rental market.

Attribute

Details

Base Year

2021

Historical Data

2017 – 2020

Estimated Year

2022

Forecast Period

2023 – 2027

Quantitative Units

Revenue in USD Million, and CAGR for 2017-2021 and 2022-2027

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments covered

·         Type

·         Location

Regional scope

Northern & Central Region, Eastern Region, Western Region, and the Southern Region.

Key companies profiled

Halliburton Company, Schlumberger N.V. (Schlumberger Limited), Chesapeake Energy Corporation, Weatherford International public limited company, Precision Drilling Corporation, Parker Drilling Company, Superior Energy Services Inc., Oil State International Inc., Basic Energy Services Inc., FMC Technologies, Inc.

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Report Scope:

In this report, Saudi Arabia oil field equipment rental market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Saudi Arabia Oil Field Equipment Rental Market, By Type:
    • Drilling Equipment
      • Drill Pipe
      • Drill Collars
      • Drill Bit
      • Others
    • Pressure & Flow Control Equipment
    • Fishing Equipment
    • Others
  • Saudi Arabia Oil Field Equipment Rental Market, By Location:
    • Onshore
    • Offshore
  • Saudi Arabia Oil Field Equipment Rental Market, By Region:

o   Northern & Central Region

o   Eastern Region

o   Southern Region

o   Western Region

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Saudi Arabia oil field equipment rental market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).


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1.     Product Overview

2.    Research Methodology

3.    Impact of COVID-19 on Saudi Arabia Oil Field Equipment Rental Market

4.    Executive Summary

5.    Voice of Customers

6.    Saudi Arabia Oil Field Equipment Rental Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value & Volume

6.2.  Market Share & Forecast

6.2.1.     By Type (Drilling Equipment, Pressure & Flow Control Equipment, Fishing Equipment, Others)

6.2.2.     By Location (Onshore, Offshore)

6.2.3.     By Region

6.2.4.     By Company (2021)

6.3.  Product Market Map

7.    Saudi Arabia Drilling Equipment Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Value

7.2.  Market Share & Forecast

7.2.1.     By Type (Drill Pipe, Drill Collars, Drill Bit, Others)

7.2.2.     By Location

7.2.3.     By Region

8.    Saudi Arabia Pressure & Flow Control Equipment Market Outlook

8.1.  Market Size & Forecast

8.1.1.     By Value

8.2.  Market Share & Forecast

8.2.1.     By Location

8.2.2.     By Region

9.    Saudi Arabia Fishing Equipment Market Outlook

9.1.  Market Size & Forecast

9.1.1.     By Value

9.2.  Market Share & Forecast

9.2.1.     By Location

9.2.2.     By Region

10.  Market Dynamics

10.1.  Drivers

10.2.  Challenges

11.  Market Trends & Developments

12.  Policy & Regulatory Landscape

13.  Saudi Arabia Economic Profile

14.  Company Profiles

14.1.  Halliburton Company

14.2.  Schlumberger N.V. (Schlumberger Limited)

14.3.  Chesapeake Energy Corporation

14.4.  Weatherford International public limited company

14.5.  Precision Drilling Corporation

14.6.  Parker Drilling Company

14.7.  Superior Energy Services Inc.

14.8.  Oil State International Inc.

14.9.  Basic Energy Services Inc.

14.10.            FMC Technologies, Inc.

15.  Strategic Recommendations

                                                                                       (Note: The companies list can be customized based on the client requirements.)

In case you don’t find what you are looking for, please get in touch with our custom research team at [email protected]