Oilfield Equipment Rental Services Market | 页面 3

Global Non-Volatile Memory Market Research Report: Forecast to 2023
Summary
According to a recent study report published by the Market Research Future, The global market of Oilfield
Equipment Rental Services is booming and expected to gain prominence over the forecast period. The
global Oilfield Equipment Rental Services market is forecasted to demonstrate an exponential growth by
2022, surpassing its previous growth records in terms of value with a whooping, CAGR during the
estimated period (2017 – 2022).
Global increasing demand for energy has resulted in rapid increase in the offshore drilling activities to meet
the increasing demand, which ultimately has provided significant boost to the Oilfield Equipment Rental
Services market. Moreover, new oil reserve discoveries increase the drilling and exploration activities in
coming years which upsurge the demand for the market. However, environmental risks and strict
government regulations for drilling as well as increasing focus on renewable energy may hinder the market
growth of the market.
Oilfield equipment is an equipment that extracts oil and gas from the reservoir. In order to reduce the capital
expenditure of these equipment, the oilfield operators take these equipment on rent or lease.
Additionally, new oil reserve inventions would accelerate the exploration and drilling activities in the
coming years which will boost the demand for the market. However, strict government regulations coupled
with environmental risks for drilling as well as surging focus on renewable energy may restrict the growth
of the market. Characterized by the existence of several small and renowned players, the global market of
oilfield equipment rental services appears to be extremely competitive. The prominent players go for
collaboration, acquisition, expansion, product launch, and partnership, in order to maintain their market
position and to attain competitive advantage in this market. The key players compete with regards to
services and pricing. Vendors operating in the market compete to provide the best quality products and
services based on advanced technologies, and best approaches. The key players make a significant
investment for research and development activities and for securing a guaranteed resource for the clients.
Oilfield equipment rental services market witness a surged growth potential which is expected to attract
several entrants to the market leading to further intensified competition.
Competitive Dashboard
The global oilfield equipment rental services market is dominated by key players such as Oil States
International Inc. (U.S.), Halliburton Co. (U.S.), Schlumberger Ltd (U.S.), Weatherford International Ltd.
(Switzerland), Superior Energy Services Inc. (U.S.), National Oilwell Varco (U.S.), Baker Hughes (U.S.),
Transocean Ltd. (Switzerland), Cameron International Inc. (U.S.), and B&B Oilfield Equipment Corp
(U.S.).
P a g e | 3
Copyright © 2017 Market Research Future.