Saudi Arabia Oil Field Equipment Rental Market Report 2022
DUBLIN–(BUSINESS WIRE)–The “Saudi Arabia Oil Field Equipment Rental Market By Type (Drilling Equipment {Drill Pipe, Drill Collars, Drill Bit, Others}, Pressure & Flow Control Equipment, Fishing Equipment, Others), By Location (Onshore, Offshore), By Region, Competition, Forecast & Opportunities, 2027” report has been added to ResearchAndMarkets.com’s offering.
Saudi Arabia oil field equipment rental market is projected to witness growth at a significant CAGR during the forecast period, 2023-2027. The market growth can be attributed to the increasing oilfield explorations in the country. Saudi Arabia constitutes 17% of the global petroleum reserves, which accounts for 50% of the country’s GDP and 70% of export business. Hence, developments in the ever-expanding industry are creating a high demand for oil field equipment, which is expected to drive market growth in the coming years.
Saudi Arabia’s oil industry is quickly increasing and accounts for more than half of the country’s income. Growing demand for oil and petroleum products, as well as globalization, will be important factors driving the expansion of the Saudi Arabia oil field equipment rental industry during the next five years. With the increase in demand, more excavation and oil extraction from reserves are increasing, which aids the demand for tools, equipment, and machinery, consequently boosting the expansion of the Saudi Arabia oil field equipment rental market over the next five years.
The current consumption trend ensures that the country’s active reserves will survive for more than 200 years. Growing excavation necessitates technologically advanced equipment and tools, which will be essential in expanding the Saudi Arabia oil field equipment rental market during the next five years.
Market participants are focused on research and technology advances in oil field equipment, which will assist the expansion of the Saudi Arabia oil field equipment rental market during the next five years. In recent years, active market participants have strategically moved their attention to unconventional and deeper hydrocarbon sources. Oil extraction has recently turned toward shale gas and coal. Horizontal drilling and hydraulic fracturing are advanced technologies aiding the opening of shale oil and gas formations. The horizontal component of the oil rig count has increased significantly, which is expected to boost the growth of the Saudi Arabia oil field equipment rental industry during the next five years.
Key Target Audience:
- Market research and consulting firms
- Government bodies such as regulating authorities and policy makers
- Organizations, forums, and alliances
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as product manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope
Saudi Arabia Oil Field Equipment Rental Market, By Type:
- Drilling Equipment
- Drill Pipe
- Drill Collars
- Drill Bit
- Others
- Pressure & Flow Control Equipment
- Fishing Equipment
- Others
Saudi Arabia Oil Field Equipment Rental Market, By Location:
- Onshore
- Offshore
Saudi Arabia Oil Field Equipment Rental Market, By Region:
- Northern & Central Region
- Eastern Region
- Southern Region
- Western Region
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Impact of COVID-19 on Saudi Arabia Oil Field Equipment Rental Market
4. Executive Summary
5. Voice of Customers
6. Saudi Arabia Oil Field Equipment Rental Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Type (Drilling Equipment, Pressure & Flow Control Equipment, Fishing Equipment, Others)
6.2.2. By Location (Onshore, Offshore)
6.2.3. By Region
6.2.4. By Company (2021)
6.3. Product Market Map
7. Saudi Arabia Drilling Equipment Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Type (Drill Pipe, Drill Collars, Drill Bit, Others)
7.2.2. By Location
7.2.3. By Region
8. Saudi Arabia Pressure & Flow Control Equipment Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Location
8.2.2. By Region
9. Saudi Arabia Fishing Equipment Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Location
9.2.2. By Region
10. Market Dynamics
10.1. Drivers
10.2. Challenges
11. Market Trends & Developments
12. Policy & Regulatory Landscape
13. Saudi Arabia Economic Profile
14. Company Profiles
15. Strategic Recommendations
Companies Mentioned
- Halliburton Company
- Schlumberger N.V. (Schlumberger Limited)
- Chesapeake Energy Corporation
- Weatherford International public limited company
- Precision Drilling Corporation
- Parker Drilling Company
- Superior Energy Services Inc.
- Oil State International Inc.
- Basic Energy Services Inc.
- FMC Technologies, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/pvcsy8
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