Market Size of Norway 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 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Norway Oilfield Equipment Rental Services Market Analysis
Norway's oilfield equipment rental services market is expected to register a CAGR of over 3% 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 exploration and production activities due to rising crude oil and natural gas demand 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 Norway's oilfield equipment rental services market during the forecast period.
- Nevertheless, the upstream sector is expected to drive the Norwegian oil and gas industry, owing to increased investment by oil companies. Discoveries will also likely create lucrative growth opportunities for the Norwegian oilfield equipment rental services market during the forecast period.
