MOUNTAIN VIEW, Calif., Nov. 12, 2015 /PRNewswire/ -- The niche North American liquid solid container rental market is gradually growing into a potent force sustained by increasing shale energy exploration and fracking water treatment. The revival of the construction industry will further stimulate investments in liquid solid container rentals.
Recent analysis from Frost & Sullivan, North American Liquid Solid Container Rental Market (http://www.frost.com/nfa4), finds that the market earned revenues of $1.11 billion in 2014 and estimates this to reach $1.30 billion in 2018. The upstream oil and gas sector will remain the largest vertical market for container rentals.
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"The improving efficiency of horizontal drilling and hydraulic fracturing techniques in oil and natural gas extraction has enabled the mining of more wells in basins across the United States," said Frost & Sullivan Energy and Environment Principal Consultant Farah Saeed. "The consequent rise in productivity is creating a whole new section of demand for liquid solid container rentals."
Rental suppliers must tackle environmental concerns related to spills and liabilities associated with government regulations for hydraulic fracking, to wholly cash in on market potential. Since market entry barriers are relatively low, vendors also need to adopt viable strategies to cope with the heightened competition, pricing pressures and contractual obligations caused by the influx of new participants.
Cost-efficient, geographically-diverse container rental providers will be well-positioned to attract and retain customers. Ensuring short delivery times and robust customer service are key competitive strengths that will differentiate rental vendors from the competition.
"Offering value-added support will enable vendors to hold onto their customer base in the midst of tough competition," suggested Saeed. "Therefore, delivering maintenance services or facilitating the disposal of solids and movement of water from extraction activities will help providers power ahead in the North American liquid solid container rental market."
North American Liquid Solid Container Rental Market is a Market Insight that is part of the Energy & Environment (http://ww2.frost.com/research/industry/energy-power-systems/energy-power) Growth Partnership Service program. This Insight provides an overview of the liquid solid container rental market in the United States and Canada, with regional revenue data provided for each country and vertical market. The study examines market drivers, restraints, market share for the top five participants and competitive factors.
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North American Liquid Solid Container Rental Market
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SOURCE Frost & Sullivan