(MENAFNEditorial) iCrowdNewswire - Nov 3, 2017
report provides actionable intelligence on factors that have been driving demand; key trends that are impacting the market; challenges that affect the market dynamics along with the market size, a SWOT analysis of the key vendors, and various segments. Industry experts project OilField Equipment Rental market to grow at a CAGR of 4.76% during the period 2017-2021.
About Oilfield Equipment RentalThe rental oilfield equipment is basically used for extraction of oil and gas from the reservoirs. End-users take such equipment on a rental basis to reduce the capital cost incurred.
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OilField Equipment Rental Market Drivers, Challenges and Trends: –
- Market Driver: – one of the major drivers for this market is development of unconventional oil and gas resources/hydrocarbon exploration. Though the major hydrocarbon-rich regions in the world were identified in the early 20th century, the E&P companies are now focusing on unconventional areas for exploration and production purposes. These unconventional resources are the oil and gas bearing reservoirs that cannot be extracted economically.
- Market Challenge: – one of the major factors hindering the growth of this market is global downturn in oil industry and crude oil prices. Crude oil prices are decreasing since mid-2014, and this is having an impact on the overall oil and gas industry. The decline in crude oil prices is a major challenge for the oilfield equipment companies. Many operators are closing their wells and rigs as the revenue generated is not equal to the expenditure.
- Market trend: – The latest trend gaining momentum in the market is emerging offshore opportunities. The offshore oil and gas industry has faced numerous challenges that include high operational costs that have been exacerbated by lower global oil prices. Since 2015, low global oil prices have forced the international oil companies (IOCs) to decrease their investments in offshore development
Market segmentation by application, Oilfield equipment rental market by application, onshore oilfield equipment rental market, offshore oilfield equipment rental market
Market segmentation by product:-
Market segmentation by products, Drilling equipment, Pressure and control valves
Geographic Segmentation: –
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To determine the OilField Equipment Rental market size the report considers the revenue generated from the new shipments in the market. The report covers the market landscape and its growth prospects over the coming years. Report contains vendor landscape in addition to a SWOT analysis of the key vendors operating in OilField Equipment Rental market space like
- Ensign Energy Services
- Halliburton
- Precision Drilling
- Schlumberger
- Weatherford and many more.
Report Coverage:
- OilField Equipment Rental market report provides comprehensive analysis of the market with the help of up-to-date market opportunities, overview, outlook, challenges, trends, market dynamics, size and growth, competitive analysis, major competitors analysis.
- Report recognizes the key drivers of growth and challenges of the key industry players. Also, evaluates the future impact of the propellants and limits on the market.
- Uncovers potential demands in the market.
- OilField Equipment Rental market report provides in-depth analysis for changing competitive dynamics
- Provides information on the historical and current market size and the future potential of the market.
OilField Equipment Rental Market highlights following key factors:
- A complete background analysis of OilField Equipment Rental industry, which includes an assessment of the parental market.
- Emerging trends by segments and regional markets.
- Significant changes in market dynamics & market overview.
- Market breakdown up to the second or third level.
- Market shares and approaches of key players in OilField Equipment Rental market.
- Current and predictable size of OilField Equipment Rental market from the perspective of both value and volume.
- Reporting and estimation of recent industry developments.
- References to companies for establishment their position in the market
- This report provides new business dimensions with an eye on growth opportunities and contribution of upcoming market segments.
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Some of the exhibits included in OilField Equipment Rental research report are
Exhibit 01: Different stages in value chain of petroleum
Exhibit 02: Oil and gas upstream activity stages
Exhibit 03: Overview of drilling equipment types
Exhibit 04: Types of drill bits
Exhibit 05: Pressure and control valve overview
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