Oilfield Equipment Rental Market is projected to Reach US$ 27.82 Billion by 2030, at a CAGR of 3.87% during the forecast period 2022-2030, Contrive Datum Insights

Oilfield Equipment Rental Market is projected to Reach US$ 27.82 Billion by 2030, at a CAGR of 3.87% during the forecast period 2022-2030, Contrive Datum Insights

Contrive Datum Insights Pvt Ltd

Contrive Datum Insights Pvt Ltd

According to a market analysis research printed by Contrive Datum Insights, the marketplace for oilfield tools rental is anticipated to be pushed by North America

Farmington, Jan. 27, 2023 (GLOBE NEWSWIRE) — The international Oilfield Equipment Rental Market was valued at USD 20.55 Billion in 2022 and is projected to attain USD 27.82 Billion by 2030, rising at a CAGR of 3.87% from 2023 to 2030. The enterprise of renting oilfield tools has risen exponentially over the previous decade. The oil and fuel sector is one of the world’s most profitable, if not the most profitable. This is as a result of the international demand for petroleum merchandise is growing. This web page will describe intimately every part you want to find out about this trade, together with the types of tools that may be employed, their makes use of, and their places.

Request Sample Copy of Report “Oilfield Equipment Rental Market – Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030”, printed by Contrive Datum Insights.

Oilfield tools rental refers to the course of of renting a selection of instruments used for drilling, exploration, and manufacturing (E&P). It is a method for onsite operations to deal with durations of excessive demand with out committing to long-term contracts.

Oilfield Equipment Rental Market Recent Developments:

  • In May 2016, Parker Drilling Company bought a contract to run and repair up three rigs that belonged to clients as half of the Sakhalin-1 Project.

  • In April 2016, Schlumberger acquired coiled tubing drilling and coiled tubing items. This will strengthen its coiled tubing portfolio in markets of U.S. and Saudi Arabia.

  • In February 2016, Oil States Industries, Inc. opened a plant in the U.Ok. The 240,000-square-foot constructing is used for engineering, undertaking administration, gross sales, and administrative duties.

Oilfield Equipment Rental Market Segmentation Analysis:

Drilling tools is used to create or enlarge holes in the earth’s floor in order that oil and fuel may be extracted. Conventional, horizontal, directional, and offshore drilling rigs are distinct sorts of rigs. The equipment is used to keep protected strain in oil and fuel wells. People additionally refer to this as “downhole effectively management tools.” During drilling operations, they keep the security and efficiency of the floor casing, tubing-casing annuli, and tubing-casing annuli. To catch fish, fishing tools is required. It has quite a few instruments, together with hooks, traces, sinkers, floats, and baits. Some fishermen make the most of nets, traps, and harpoons as effectively. A fishing rod is the hottest piece of fishing tools.

People lease a substantial quantity of onshore oilfield tools so as to drill wells and extract the crude oil. It aids in growing the manufacturing charge by enhancing fluid circulate. Using rented onshore oilfield tools has a lesser influence on the setting all through the drilling operation. Offshore, Global Oilfield Equipment Rental is utilized for drilling and extracting oil and fuel from wells. Offshore drilling is a technique for extracting oil and fuel reserves from the ocean flooring. Deep water is the main motive offshore drilling rigs are utilised as opposed to onshore ones.

Regional Outlook:

The marketplace for oilfield tools rental is anticipated to be pushed by North America, which produces the most unconventional hydrocarbons of any space. As a consequence of the improve in oil output from shale operations and deep-water exploration and manufacturing in the Gulf of Mexico, this area is presently the international oil market’s swing producer. As massive oil firms make investments more cash on capital tasks, exploration and manufacturing in the area also needs to improve. All of these components are doubtless to drive the North American oilfield tools rental market.

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Scope of Report:

Report Attributes


Growth Rate

3.87% from 2023 to 2030

Market Size in 2022

USD 20.55 Billion

Revenue Forecast by 2030

USD 27.82 Billion

By Equipment

Drilling Equipment, Pressure & Flow Control Equipment, Fishing Equipment, Other Equipment

By Application

Onshore, Offshore

By Companies

Halliburton Company (US), Schlumberger Limited (US), Weatherford InternationalPLC (Switzerland), Superior Energy CompaniesInc. (US), Oil States InternationalInc. (US), Parker Drilling Company (US), and Others

Base Year


Historical Year

2017 to 2021

Forecast Year

2023 to 2030

Market Drivers:

Oil and fuel firms have begun to focus their exploration efforts on unconventional and deep hydrocarbon reservoirs, resembling shale fuel, coal mattress methane (CBM), tight fuel, and heavy oil. The petroleum enterprise presently possesses high-tech IT-based instruments and software program that may function in a selection of unconventional and deep reservoir environments. This allows the use of superior expertise for tough jobs. For occasion, a refined Radio Frequency Identification (RFID) circulation sub facilitates the drilling and cleansing of holes.

Market Restraints:

Exploring new reserves and depleting present ones have necessitated the employment of progressive extraction methods and complicated drilling. The want for specialised drilling tools is pushed by the growing amount and complexity of good necessities required to obtain international manufacturing goals. A substantial amount of high-quality rigs and different tools will doubtless be provided during the subsequent 5 years. Most new, high-tech rigs will doubtless be utilized for horizontal drilling.

Market Opportunity:

Offshore oil and fuel exploration, drilling, and manufacturing have distinct technological and environmental necessities than onshore oil and fuel actions. The Grand Banks, the Bohai Sea, the Caspian Sea, Cook Inlet, and Sakhalin Island are websites the place it is doable to work, regardless of the issue of working offshore due to the hostile setting, as a consequence of technological developments in exploration and manufacturing. Over the previous few years, drilling has slowed due to the international decline in oil costs. This has elevated the pressure on offshore drillers and suppliers of providers.

Oilfield Equipment Rental Market Key Segments Covered:

Top Market Players:
Halliburton Company (US), Schlumberger Limited (US), Weatherford InternationalPLC (Switzerland), Superior Energy CompaniesInc. (US), Oil States InternationalInc. (US), Parker Drilling Company (US), and Others.

By Equipment

By Application

Regions and Countries Covered

  • North America: (US, Canada, Mexico, Rest of North America)

  • Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)

  • Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)

  • The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)

  • Latin America: (Brazil, Argentina, Rest of Latin America)

  • Rest Of the World

Check out extra associated research printed by Contrive Datum Insights:

  • Recovered Packaging Market – The Global Recovered Packaging Market Is Projected To Grow At A CAGR Of 6.5% From 2022 To 2030. Asia Pacific dominated the international market in phrases of income share in 2019. The area is anticipated to proceed its dominance over the forecast period due to excessive demand for corrugated cartons and wooden packaging from varied end-use industries resembling meals and beverage retail and protecting packaging.

  • Gable Top Packaging MarketThe international Gable Top Packaging Market is projected to develop at a CAGR of 3.4% during the forecast period 2022 to 2030. Asia Pacific is anticipated to emerge as a distinguished area in the international gable prime packaging market, accounting for the highest market income share. The development of the Asia Pacific gable prime packaging market may be attributed to the ever-growing meals and beverage trade in the area. 

  • Packaging Robot Market – The Packaging Robot market dimension was valued at USD 4,352.1 million in 2022 and is anticipated to attain USD 14,475 million by 2030, at a CAGR of 12.3% from 2022 to 2030. In phrases of area, the market is dominated by Asia Pacific. China is doubtless to present as excessive deal worth as excessive quantity in the international Packaging Robots market earlier than lengthy. The inflow of Chinese producers is anticipated to intensify the competitors in the international packaging robotics market in Asia Pacific in the close to future.

  • Loose Fill Polystyrene Packaging Market – The Global Loose Fill Polystyrene Packaging Market Is Estimated To Exhibit A CAGR Of 4.1% Over The Forecast Period. Asia Pacific held the dominant place in phrases of income share in the international loose-fill polystyrene packaging market in 2017, accounting for a market share of 44.1%. End-use industries resembling prescription drugs, cosmetics and private care industries in the area are rising quickly, driving the development of the market in the area.

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