Oilfield auxiliary rental equipment market is anticipated to grow at a CAGR of 5.3% during the forecast period (2024-2031). Oilfield auxiliary equipment are machines and instruments that are used to supplement the drilling process at oilfields. The equipment used less frequently on the oilfield are availed on rent by various oil extraction companies.
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Offshore exploration, drilling, and production activities necessitate different environmental and technical considerations than onshore oil and gas activities. Despite the challenges posed by such harsh offshore environmental conditions, advances in exploration and production technology for use in ice-prone regions such as the Grand Banks, Bohai Sea, Caspian Sea, Cook Inlet, and Sakhalin Island have developed economically viable production solutions. The global slowdown in oil prices has resulted in a decrease in drilling activity in recent years, putting additional pressure on offshore drillers and service providers. However, opportunities for offshore drillers are expected to grow as the industry gradually recovers.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Oilfield Auxiliary Rental Equipment Market by Equipment
- Drilling Equipment
- Pressure and Flow Control Equipment
- Fishing Equipment
- Others
Global Oilfield Auxiliary Rental Equipment Market by Application
- Onshore
- Offshore
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Latin America
- Middle East & Africa
Company Profiles
- Aker Solutions ASA
- Ashtead technology Ltd.
- Baker Hughes
- B&B Oilfield Equipment, Corp.
- China Oilfield Services Ltd.
- Ensign Energy Services, Inc.
- Key Energy Services, Inc.
- Nabors Industries Ltd.
- National Oilwell Varco (NOV) Inc.
- Odfjell Drilling
- Oil States International
- Seadrill Ltd.
- TechnipFMC
- Transocean Ltd.
- Weatherford International, Plc
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global oilfield auxiliary rental equipment market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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