Oil and Gas Surface Rental Equipment Market Intelligence

Are you looking for answers on Oil and Gas Surface Rental Equipment category?

Are you looking for answers on Oil and Gas Surface Rental Equipment category?

  • What are the key trends in Oil and Gas Surface Rental Equipment category?
  • Am I paying the right price?
  • Am I working with the right supplier?
  • What are the major challenges and risks in Oil and Gas Surface Rental Equipment industry?
  • How is Oil and Gas Surface Rental Equipment industry performing?

Over 50,000+ users trust Beroe

Report Coverage

  • Global Capacity–Demand Analysis
  • Global Trade Dynamics
  • Regional Market Snapshot-North America, Europe, Asia
  • Cost Structure Analysis

Market Size

Market Size North America

$326.91 Mn

Market Size Asia Pacific

$55.08 Bn

Table of contents

  1. Executive Summary
  2. Category Landscape
  3. Global Market Outlook
  1. Market Analysis
  2. Global Market Overview for Directional Drilling
  3. Classification of Directional Drilling
  4. Regional Market Outlook: North America
  5. Market Drivers and Constraints
  6. Porter’s Five Forces Analysis:Global
  1. Cost Analysis and Breakup
  2. Cost Analysis
  3. Cost Breakup
  1. Engagement and Contract Practices
  2. Types of Engagement
  3. Contract Practices
  1. Supply Analysis
  2. Supply Market Outlook
  3. Key Regional Suppliers’ Profiles
  4. Key Regional Supplier Portfolio

Want a more detailed personalised report?

Market Overview for Oil & Gas - Surface Rental Equipment

  • Global market for surface rental equipment is estimated to be USD 594.65 million
  • By 2019, it is expected to reach USD 20.55 billion with a CAGR of 3.88 %

oil-and-gas-surface-rental-equipment

  • Rebounding crude oil price is expected to drive the demand for oil & gas rental equipment globally.
  • Increase in capex spending by E&P companies is expected to rise the demand for oil field rental equipment
  • Global market for oil & gas rental equipment market is estimated to be USD 16.99 billion in 2017.
  • By 2020, it is expected to reach USD 20.55 billion with a CAGR of 3.88 %
  • Rebounding oil price is seen as the key driving force for well completion and well intervention activities
  • Segment wise, drilling equipment accounts for single close to 3/4th of the overall oil & gas rental equipment market.
  • Others segments namely, Field Production equipment, pumps & valves an surface equipment constitutes the remaining market for oil & gas rental equipment
  • US market is the single largest market for oil & gas rental equipment.

Global Oil & Gas Rental Equipment - Market Drivers and Constraints

Drivers

  • Increase in CAPEX spending is driving the demand for well completion and intervention services which leads to increase in demand for surface equipment for well testing.
  • High number on unfinished wells in US shale basin is expected to drive the demand for surface equipment as operators are under pressure to step up production from these shale wells
  • Rebounding oil prices comes as relief for several E&P operators in terms of increasing their exploration activity after a tough patch of low oil price.
  • Advancement in technologies related to surface equipment helps E&P operators optimizing operations like well testing, DST, well control etc

Constraints

  • Stringent environment & emission regulations are making the E&P/well completion & intervention activities costlier across several countries.
  • Major oil& gas assets in Australian Offshore, Gulf of Mexico, Canada are located in environmentally sensitive areas require state-of-art technology which comes with higher cost.

Oil & Gas Rental Equipment - Regional Market Outlook- United States

  • US, the largest market for oil & gas rental accounted for about 39% of the overall oilfield rental equipment demand .
  • Rattled by the budget cuts, Shale operators restricted the field development leading to higher number of unfinished wells. By Q2 2017, number of unfinished wells stood at 1,764.
  • With an urge to increase production from shale fields, the demand for oil & gas rental equipment is expected to increase significantly in 2018 and 2019 with Y-o-Y growth rate of 9.55 %
  • With increasing number of new players into rental market, E&P companies have a large pool of global and regional suppliers to the US market to choose from.

Complimentary 12-month access to Beroe LiVE

Any more questions?

Get in touch with us quickly and easily.