The 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 the 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 Rental 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.
Objective of the Study:
To analyze and forecast the market size of the United States Oilfield Equipment Rental Market.
To classify and forecast the United States Oilfield Equipment Rental Market based on equipment type, application, company and regional distribution.
To identify drivers and challenges for the United States Oilfield Equipment Rental Market.
To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the United States Oilfield Equipment Rental Market.
To identify and analyze the profile of leading players operating in the United States Oilfield Equipment Rental Market.
The author performed both primary as well as exhaustive secondary research for this study. Initially, researchers sourced a list of service providers across the country. Subsequently, they conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, the author could include the service providers which could not be identified due to the limitations of secondary research. The author analyzed the service providers, vendors, distribution channels and presence of all major players across the country.
The author calculated the market size of the 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. Researchers 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.
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
5. United States Oilfield Equipment Rental Market Outlook 5.1. Market Size & Forecast 5.1.1. By Value 5.2. Market Share & Forecast 5.2.1. By Equipment Type (Drilling Equipment, Pressure & Flow Control Equipment, Others) 5.2.2. By Application (Onshore v/s Offshore) 5.2.3. By Region 5.2.4. By Company (2019) 5.3. Product Market Map
6. South-West United States Oilfield Equipment Rental Market Outlook 6.1. Market Size & Forecast 6.1.1. By Value 6.2. Market Share & Forecast 6.2.1. By Equipment Type 6.2.2. By Application
7. Mid-West United States Oilfield Equipment Rental Market Outlook 7.1. Market Size & Forecast 7.1.1. By Value 7.2. Market Share & Forecast 7.2.1. By Equipment Type 7.2.2. By Application
8. West United States Oilfield Equipment Rental Market Outlook 8.1. Market Size & Forecast 8.1.1. By Value 8.2. Market Share & Forecast 8.2.1. By Equipment Type 8.2.2. By Application
9. South-East United States Oilfield Equipment Rental Market Outlook 9.1. Market Size & Forecast 9.1.1. By Value 9.2. Market Share & Forecast 9.2.1. By Equipment Type 9.2.2. By Application
10. North-East United States Oilfield Equipment Rental Market Outlook 10.1. Market Size & Forecast 10.1.1. By Value 10.2. Market Share & Forecast 10.2.1. By Equipment Type 10.2.2. By Application
13. Competitive Landscape 13.1. Competition Outlook 13.2. Company Profiles 13.2.1. Company Details 13.2.1.1. Halliburton Company 13.2.1.2. Schlumberger Limited 13.2.1.3. Chesapeake Energy Corporation 13.2.1.4. Weatherford International plc 13.2.1.5. Superior Energy Services, Inc. 13.2.1.6. Precision Drilling Corporation 13.2.1.7. Parker Drilling Company 13.2.1.8. FMC Technologies, Inc. 13.2.1.9. Oil States International 13.2.1.10. Basic Energy Services, Inc.
