Oilfield Equipment Rental Market by Drilling Equipment (Drill Pipe, Drill Collars, Heavy-Wate, Drill Subs), Pressure & Flow Control Equipment (BOP, Valves & Manifolds), Fishing Equipment and Other Equipment - Global Trends and Forecasts to 2019

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Dec 22, 2014, 08:00 ET

LONDON, Dec. 22, 2014 /PRNewswire/ -- The global oilfield equipment rental market exhibits a lucrative growth potential of >10% for the next five years. The growth of this market is propelled by the rise in power requirement and the increasing E&P activities being carried out across the globe. The market is further driven by factors such as entry of new players in the oilfield services market, as they favor renting more than buying costly equipments. The high growth potential in emerging markets, increased shale mining in U.S. provide new growth opportunities to players in the oilfield equipment rental market.

Rising oil & gas prices and increasing drilling activity will drive the global oilfield equipment rental (oilfield rental) market, slated to be valued at $53.7 billion by 2019. North America, with its increased focus on unconventional shale plays and keen oil & gas industry, is expected to experience highest revenue growth during the next five years.

Advancements in technology are favoring renting. Companies are reluctant to buy oilfield equipments not only because of the huge capital investments and maintenance cost but also because the equipments depreciate and become obsolete. By renting, the drillers get the most advanced equipments that suit the local terrain. They are also saved form the transportation cost of equipments from one drilling site to the other.

The report covers the global OER market in major regions namely Asia-Pacific, Europe, North America, Latin America, Middle East, and Africa under major types of rental equipment such as drilling, pressure & flow control, fishing, etc. The market size for various drilling rental tools such as drill pipes and drill collars, etc. have also been estimated along with pressure and flow control tools.

This report analyzes various marketing trends and establishes the most effective growth strategy in the market. It identifies market dynamics such as drivers, restraints, opportunities, burning issues, and winning imperatives. Major companies such as Chesapeake Oilfield Services LLC (U.S.), Superior Energy Services Inc. (U.S.), Weatherford International Ltd (Switzerland), Precision Drilling Corporation (Canada), etc. have also been profiled in this report.

Scope of the report

• On basis of geography:
(North America, Asia-Pacific, Europe, Africa, Latin America, Middle East)
• On basis of equipment:
• Drilling equipment (Drill pipe, Drill collars, Heavy-wate, Drill Subs)
• Pressure & flow control equipment (BOPs, Valves & Manifolds)
• Fishing tools
• Other equipment

Drilling rental equipment, due to its wide usage and increased drilling activity dominate the global oilfield rental market. Within drilling equipment, drill pipes hold the largest share as most of wells being drilled have considerable depths. Subsequently to drilling equipment, pressure and flow control are the most rented. BOPs (Blow out preventers) dominate the pressure and flow control equipment rental market.

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