Market Size of Europe Oilfield Equipment Rental Services Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 3.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Oilfield Equipment Rental Services Market Analysis
The Europe Oilfield Equipment Rental Services Market is expected to register a CAGR of over 3% during the forecast period.
- Over the medium term, Factors, such as increasing exploration and production activities due to increasing crude oil and natural gas demand, are likely to drive the European oilfield equipment rental services market during the forecast period.
- On the other hand, volatile oil and gas prices are leading to uncertainty among oil and gas operators, which is likely to restrain the growth of the Europe oilfield equipment rental services market in the coming years.
- However, advancements in deepwater and ultra-deepwater drilling activities in the region, like Norway and the United Kingdom, are expected to create ample opportunity for the market players in the coming years.
- Norway is expected to dominate the market, owing to the increased exploration activity in the country, to compensate for declining fields elsewhere.
