The global oilfield
equipment rental market is projected to grow at a CAGR of 3.87% by value
from 2017 to 2022. North America is estimated to be the largest market for
oilfield equipment, followed by the Middle East. This trend is expected to
continue till 2022. The growth of the oilfield equipment rental market is
driven by technological advancement in oilfield equipment and increase in
global investments in exploration and production.
Browse 66 market data Tables and 81 Figures
spread through 182 Pages and in-depth TOC on "Oilfield Equipment Rental
Market by Equipment (Drilling Equipment (Drill Pipe, Drill Collars, Hevi-Wate,
and Subs), Pressure & Flow Control Equipment, and Fishing Equipment),
Application (Onshore and Offshore), and Region - Global Forecasts to 2022"
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The oilfield equipment rental market is dominated by a
few global players. Key players operating in the market include Halliburton
Company (U.S.), Schlumberger Limited (U.S.), Weatherford International, PLC
(Switzerland), Superior Energy Services, Inc. (U.S.), Oil States International,
Inc. (U.S.), and Parker Drilling Company (U.S.), among others.
The report’s target audience includes:
·
Oilfield equipment manufacturers and suppliers
·
Government and research organizations
·
National and local government organizations
·
Institutional investors
·
Associations
Major strategies adopted by players in the oilfield equipment rental market
includes mergers & acquisitions and contracts & agreements. Mergers
& acquisitions was the most commonly adopted strategy from 2014 to April
2017. Industry players also adopted contracts & agreements, which was the
second most widely followed strategy from 2012 to April 2017.
Schlumberger
Limited is one of the leading providers of products, services, technology,
information solutions, and integrated project management solutions for the
global oil & gas exploration and production industry. The company offers
products and services to the entire gamut of oilfield services, from
exploration to production. Schlumberger Limited is focusing on R&D
activities as a long-term strategy to support and grow its technological
leadership in the oilfield equipment segment. New products, recently launched
by the company, generated approximately 20% of the group revenue in 2016. The
company recently launched PowerDrive Orbit Rotary Steerable System (RSS) under
its drilling segment in 2016.
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Halliburton
Company is one of the leading service providers and product suppliers in
the upstream sector of the oil & gas industry. The company provides
thirteen Product Service Lines (PSLs) under two main divisions, namely,
drilling and evaluation and completion and production. The company has
operations in 80 countries across the globe. The company has manufacturing
operations in the U.S., China, Singapore, Canada, Malaysia, and the U.K. The
long-term strategy of the company is to focus on three areas, namely,
international business opportunities, applied technology, and integrated
solutions. The company is well positioned to utilize its global infrastructure
and technological prowess to provide operational distinction at low costs. As a
part of its expansion strategy, the company has recently opened technology and
research centers in Iberia, Brazil, and the U.S. to have technologically
advanced products and solutions.
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