Oilfield Equipment Rental Services Market | Page 5

Global Non-Volatile Memory Market Research Report: Forecast to 2023
Regional Analysis
North America dominates the Oilfield Equipment Rental Services market. The U.S. accounts for the largest
market share in the North American region. The advancements in unconventional drilling technologies,
which have attracted capital for oil and gas drilling projects. Additionally, vast hydrocarbon resources in
the U.S. Shale basins and continuous offshore drilling in the Gulf of Mexico region, are driving the demand
of the market. Additionally, most of the major player are operating in this region. This has the positive
influence on the growth of the market.
Asia Pacific and Europe are the other major market for the Oilfield Equipment Rental Services. Increasing
demand for energy due to urbanization & industrialization from the countries such as India, China, and
Indonesia among others driving the demand of the market in Asia Pacific region. The Europe drill bit
market is expected to be dominated by countries such as U.K, Norway and Russia. The development of
unconventional oil and gas exploration activities such as shale, is driving the market in the region. It is
expected to contribute significantly during the forecast period.
Industry/ Innovations/ Related News
• IronGate Energy Services, a leading provider of rental and tubular services to oil and natural gas
exploration and production operators in North America, announced that it has acquired Sun Tubular
Services, a provider of rental services to exploration and production operators in the Permian Basin.
• Patterson was awarded with two long term contract with a major oil company to provide a 21 ¼”
5M BOP stack for a project in Africa & provide a 13 5/8 ” 15M BOP stack for a project in the Gulf
of Mexico.
• Patterson Rental Tools is pleased to announce the opening its latest rental tool facility in the
Midland/Odessa area. This latest expansion will facilitate the coverage of the various shale plays
in the Midland/Odessa area.
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