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(IndustryNews247.Com, July 12, 2018 ) Oilfield Equipment Rental Market is estimated at $27,450 million in 2015 and is expected to reach $91,850 million by 2022 growing at a CAGR of 18.8% from 2015 to 2022. The factors fueling the market include rising demand for power, advanced drilling techniques, increasing exploration and production activities. Hesitation in oil & gas industry and regional disparities are the factors limiting the market growth. The opportunity for the market growth lies in U.S. shale mining revolution and rapidly rising hydrocarbon market.
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North America has the largest share in oilfield equipment market driven by large shale drilling activities in U.S. due to increasing demand for energy and prosperous conventional and unconventional drilling and oilfield service. Asia Pacific and Middle East are expected to witness significant growth during forecast period. Drill pipes have the largest share in oilfield equipment market for drilling the large number of wells with huge depths. Pressure and flow controls are mostly rented consequently to drilling equipment. In pressure and flow controls, BOPs are expected to drive the market growth.
The key players in the market include, Basic Energy Services, Inc., Schlumberger, Ensign Energy Services Inc., Halliburton Co., Oil States International Inc., Superior Energy Services, Parker Drilling Co., Tasman Oil Tools, Weatherford International, Fmc Technologies, Seventy Seven Energy Inc. and Key Energy Services.
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-Other Drilling Equipment
-Pressure & Flow Control Equipment
-Valves & Manifolds
-Other P&FC Rental Equipments
-Rest of Europe
Get more information @ http://www.reportsweb.com/oilfield-equipment-rental-global-market-outlook-2016-2022
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