Key players in Europe Oilfield Equipment Rental Market include Halliburton Co. (U.S.), Oil States International Inc. (U.S.), Schlumberger Limited (U.S.), Superior Energy Services, Inc. (U.S.), and Weatherford International Ltd. (Ireland).
(PRWEB) April 18, 2015
The oilfield equipment rental market in Europe was valued at $4,917.0 million in 2014, and is estimated to reach $6,377.0 million by 2019, at a CAGR of 5.3% from 2014 to 2019.
Browse through the market data tables, figures and detailed ToC for the Europe Oilfield Equipment Rental Market -
Companies operating in the drilling services market are reluctant to buy oilfield equipment, not only because of the huge capital investment and maintenance cost, but also because equipment used in drilling depreciates and become obsoletes relatively quickly. By renting, drillers get advanced equipment that suits the local terrain. They are also saved form the transportation cost of equipment from one site to the other. The trend of renting equipment in order to increase operational efficiency along with cost saving is the major factor driving the oilfield rental market.
Drilling rental equipment dominates the European oilfield rental market due to its wide use, and the increased drilling activities in the region. Within drilling equipment, the drill pipes segment dominated the market, having accounted for the largest share of 58.1% in 2014. BOPs (blow out preventers) dominate the pressure and flow control equipment rental market, having accounted for a share of 51.3%, which is projected to grow at a CAGR of 6.3% from 2014 to 2019.
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The main equipment in the concerned market include drilling equipment, pressure & flow control equipment, fishing equipment, and other equipment. The market has been analyzed in terms of the major countries in the European market, such as Russia, Norway, the U.K., Kazakhstan, and the Rest of Europe.
North America Oilfield Equipment Rental Market
North American oilfield equipment rental (OER) market is estimated to reach $11,383 million by 2019, at a CAGR of 3.1% from 2014 to 2019.
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