NEW YORK, May 27, 2020 /PRNewswire/ -- Read the full report: https://www.reportlinker.com/p05893497/?utm_source=PRN
United States oilfield equipment rental market is estimated to stand at $ 4.32 billion in 2020 and is projected to reach $ 5.37 billion by 2025. Anticipated growth in the market can be attributed to the rising demand for oil & gas coupled with increasing focus on unconventional reserves such as shale gas, tight gas, CBM, heavy crude, among others. Furthermore, increasing expenditure on E&P and drilling activities is anticipated to foster the growth of market during forecast years. Additionally, technological innovations and digitalization in the oil & gas industry is further expected to propel the market over the next few years.
The United States oilfield equipment rental market is segmented based on equipment type, application, and region.Based on equipment type, the market can be fragmented into drilling equipment, pressure & flow control equipment and others.
The drilling equipment segment accounted for around 50% of the market share in 2019 and is expected to dominate the market during forecast period as well.In terms of application, the United States oilfield equipment rental market is categorized into onshore & offshore, among which, the onshore segment is expected to dominate the market until 2025.
In terms of regional segmentation, the United States oilfield equipment market is categorized in South-East, Mid-West, West, North-East and South-West regions. Out of these, South-West region is expected to hold its dominance in the United States oilfield equipment rental market due to presence of a large number of oil reserves and oil production rate in the region.
Major players operating in the United States oilfield equipment rental market include Halliburton Company, Schlumberger Limited, Chesapeake Energy Corporation, Weatherford International plc, Superior Energy Services, Inc., Precision Drilling Corporation, Parker Drilling Company, FMC Technologies, Inc., Oil States International, Basic Energy Services, Inc. and others. Market players are increasingly adopting competitive strategies include mergers & acquisitions and new service agreements to increase their market presence. For instance, in November 2018, Technip FMC signed a 5-year agreement with Chevron to supply surface wellhead equipment and services in United States & Canada.
Years considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021–2025
Objective of the Study:
• To analyze and forecast the market size of United States oilfield equipment rental market.
• To classify and forecast United States oilfield equipment rental market based on equipment type, application, company and regional distribution.
• To identify drivers and challenges for United States oilfield equipment rental market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in United States oilfield equipment rental market.
• To identify and analyze the profile of leading players operating in United States oilfield equipment rental market.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of service providers across the country.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the service providers which could not be identified due to the limitations of secondary research. The analyst examined the service providers, vendors, distribution channels and presence of all major players across the country.
The analyst calculated the market size of United States oilfield equipment rental market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Oilfield equipment rental service proviers, end users and other stakeholders
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to oilfield equipment rental market
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, vendors, partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, United States oilfield equipment rental market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Market, By Equipment Type:
o Drilling Equipment
o Pressure & Flow Control Equipment
• Market, By Application:
• Market, By Region:
Company Profiles: Detailed analysis of the major companies present in United States oilfield equipment rental market.
With the given market data, we offers customizations according to a company's specific needs. The following customization options are available for the report:
: Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p05893497/?utm_source=PRN
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