United States oilfield equipment rental
market is estimated to stand at $ 4.32 billion in 2020 and is projected to
reach $ 5.37 billion by 2025. Anticipated growth in the market can be
attributed to the rising demand for oil & gas coupled with increasing focus
on unconventional reserves such as shale gas, tight gas, CBM, heavy crude,
among others. Furthermore, increasing expenditure on E&P and drilling
activities is anticipated to foster the growth of market during forecast years.
Additionally, technological innovations
and digitalization in the oil & gas industry is further expected to propel
the market over the next few years.
The United
States oilfield equipment rental market is segmented based on equipment type, application, and
region. Based
on equipment type, the market can be fragmented into drilling equipment,
pressure & flow control equipment and others. The drilling equipment
segment accounted for around 50% of the market share in 2019 and is expected to
dominate the market during forecast period as well. In terms of application,
the United States oilfield equipment rental market is categorized into onshore
& offshore, among which, the onshore segment is expected to dominate the
market until 2025. In terms of regional segmentation, the United States
oilfield equipment market is categorized in South-East, Mid-West, West,
North-East and South-West regions. Out of these, South-West region is expected
to hold its dominance in the United States oilfield equipment rental market due
to presence of a large number of oil reserves and oil production rate in the
region.
Major players operating in the United
States oilfield equipment rental market include Halliburton
Company, Schlumberger Limited, Chesapeake Energy Corporation, Weatherford
International plc, Superior Energy Services, Inc., Precision Drilling
Corporation, Parker Drilling Company, FMC Technologies, Inc., Oil States
International, Basic Energy Services, Inc. and others. Market players are increasingly adopting
competitive strategies include mergers & acquisitions and new service agreements
to increase their market presence. For
instance, in November 2018, Technip FMC signed a 5-year agreement with Chevron
to supply surface wellhead equipment and services in United States &
Canada.
Years considered
for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021–2025
Objective of the Study:
- To analyze and forecast
the market size of United States oilfield equipment rental market.
- To classify and forecast
United States oilfield equipment rental market based on equipment type,
application, company and regional distribution.
- To identify drivers and
challenges for United States oilfield equipment rental market.
- To examine competitive developments
such as expansions, new product launches, mergers & acquisitions,
etc., in United States oilfield equipment rental market.
- To identify and analyze the profile of leading
players operating in United States oilfield equipment rental market.
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TechSci Research performed both
primary as well as exhaustive secondary research for this study. Initially,
TechSci Research sourced a list of service providers across the country.
Subsequently, TechSci Research conducted primary research surveys with the
identified companies. While interviewing, the respondents were also enquired
about their competitors. Through this technique, TechSci Research could include
the service providers which could not be identified due to the limitations of
secondary research. TechSci Research analyzed the service providers, vendors, distribution
channels and presence of all major players across the country.
TechSci Research calculated the market
size of United States oilfield equipment rental market using a bottom-up
approach, wherein data for various end-user segments was recorded and forecast
for the future years. TechSci Research sourced these values from the industry
experts and company representatives and externally validated through analyzing
historical data of these product types and applications for getting an
appropriate, overall market size. Various secondary sources such as company
websites, news articles, press releases, company annual reports, investor
presentations and financial reports were also studied by TechSci Research.
Key
Target Audience:
- Oilfield equipment rental service providers, end users
and other stakeholders
- Government bodies such as regulating authorities and
policy makers
- Organizations, forums and alliances related to oilfield
equipment rental market
- Market research and consulting firms
The study is useful in providing answers
to several critical questions that are important for the industry stakeholders
such as service providers, vendors, partners, end users, etc., besides allowing
them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, United States oilfield
equipment rental market has been segmented into following categories, in
addition to the industry trends which have also been detailed below:
- Market,
By Equipment Type:
- Drilling
Equipment
- Pressure
& Flow Control Equipment
- Others
- Market,
By Application:
- Market, By Region:
- South-West
- Mid-West
- West
- South-East
- North-East
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in United States oilfield 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).
In case you don’t find what you are looking for, please get in touch with our custom research team at sales@techsciresearch.com