The global oilfield equipment rental market will grow at a compounded annual growth rate of 14.5 percent between 2014 and 2018, according to a study by Sandlerresearch.org. According to the report, the increased oil and gas drilling activities is one of the main drivers of the market. The drilling activities have increased the demand for rental oilfield equipment, which is expected to propel the growth of the market during the forecast period.
The Sandler report covers the present scenario and the growth prospects of the Global Oilfield Equipment Rental market from 2014 through 2018. The market can be segmented into three product divisions, the report says: drilling equipment, pressure and control valve, and other equipment.
The report covers the Americas, and the “EMEA” and “APAC regions, as well as the Global Oilfield Equipment Rental market landscape and its growth prospects in the coming years. The report also covers the key vendors operating in the market.
Key players covered include Chesapeake Oilfield Services; Halliburton Co.; Precision Drilling Corp.; Superior Energy Services; Basic Energy Services; Knight Oil Tools Inc.; and others.