The African Oilfield Rental market was valued at $2.5 billion in 2013, and is estimated to grow at a CAGR of 15.59% to reach $5.3 billion by 2018.
(PRWEB) May 20, 2014
The report “Africa Oilfield equipment rental market (2011 – 2018) by end‐user industry, by applications (peak, prime/base & standby), & generator types (diesel & gas generator) – Africa trends & forecasts”, defines and segments the African Oilfield equipment rental market with analysis and forecast of the revenue. The African Oilfield equipment rental market will grow from an estimated $944 million in 2011 to $2,377 million by 2018 with a CAGR of 16.98% from 2011 to 2018.
Browse through the market data tables and figures and detailed ToC on the “Africa Oilfield Rental Market”.
The continuously rising demand for oil & gas products and other hydrocarbons has led to an increased emphasis by exploration & production (E&P) companies on optimizing the proficiency of extraction from maturing oilfields. In addition, technological developments have enabled the progress of non-conventional oil & gas fields which were considered economically unviable. On the backdrop of the high oil price, the companies’ E&P activities will increase, enhancing its spending. This is the primary driver for the oilfield equipment rental industry.
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North America Oilfield Rental Market:
The immense potential of this market is attracting various small and big level industry players. On an account of the rising oil prices and increasing complexities in oil & gas exploration, the market will experience an escalation in the demand of rental equipment in the years to come. The report forecasts the revenue of the North American market and its various sub-markets with respect to two main regions, namely the U.S. and Canada.
Asia Pacific Oilfield Rental Market:
The equipment rental players are constantly trying to modify their product line with highly customized and advanced equipment in order to acquire more supply contracts, which, in turn, would increase their market shares. The report forecasts the revenue of the Asia-Pacific market and its various submarkets with respect to six main regions, namely China, Australia, Malaysia, India, Indonesia, and other Asia-Pacific countries.
Latin America Oilfield Rental Market:
The report segments the Latin American oilfield equipment rental market by types of rental equipment such as drilling equipment, pressure & flow control equipment, and fishing equipment. The markets for most used drilling and pressure & flow control tools has been estimated in this report. It also focuses on the market share analysis and metrics such as drivers, restraints, opportunities, and winning imperatives. The Latin American oilfield equipment rental market will grow from an estimated $2,443 million in 2011 to $11,370 million by 2018 with a CAGR of 17.42% from 2011 to 2018.
Middle East Oilfield Rental Market:
The Middle East has the highest reserves of hydrocarbons in the world; therefore it is the primary exporter to all the regions in the global oil & gas market. The region has nearly 56.0% of world’s proven reserves. It is characterized with a high amount of conventional reserves that are yet to reach peak production. The oilfield rental market for the Middle East is expected to grow at a CAGR of 16.8% from 2013 to 2018.
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