Market Size of Oilfield Equipment Rental Services Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | > 5.10 % |
| Fastest Growing Market | Middle-East and Africa |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Oil Field Rental Services Market Analysis
The oilfield equipment rental services market is expected to grow at a CAGR of over 5.10% during the forecast period 2020-2025. Factors such as increasing exploration and production activities due to increasing crude oil and natural gas demand, is likely to drive the oilfield equipment rental services market during the forecast period. However, volatile oil and gas prices is leading to the uncertainty among oil and gas operators, which is likely to restrain the growth of the oilfield equipment rental services market in the coming years.
- The drilling rigs segment is likely to dominate the market during the forecast period, due to the increasing exploration and production activities.
- Advancements in the deepwater and ultra-deepwater drilling activities in the region like Brazil, Norway, United Kingdom is expected to create amble opportunity for the market players in the coming years.
- North America is expected to be the largest market for the oilfield rental services market with major demand expected to be coming from countries like United States, Canada, etc.
