Market Size of Indonesia 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 | > 2.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Indonesia Oilfield Equipment Rental Market Analysis
The Indonesian oilfield equipment rental services market is expected to register a CAGR of over 2% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently, the market has reached pre-pandemic levels.
- Over the medium term, increasing upstream activities and rising demand for crude oil and natural gas are expected to drive the growth of the market.
- On the other hand, volatile oil and gas prices are leading to uncertainty among oil and gas operators, which may hamper the growth of Indonesia's oilfield equipment rental services during the forecast period.
- Nevertheless, the number of oil and gas exploration and production activities is increasing due to increased investment by oil companies. A rising number of discoveries will likely create lucrative growth opportunities for the Indonesian oilfield equipment rental services market during the forecast period.
