Market Highlights
The factor which drives the growth of Oilfield Equipment Rental Service Market are changing. The perception of buyer have been shifted from buying to renting. The operator’s tendency to rent the oilfield equipment to minimize the equipment cost rather than buying results in the increasing growth of this market. The entry barriers and exit barriers have decreased in the oilfield equipment rental market, resulting in the growth of these market. The increased expenditure on oil and gas production for the development of the reservoirs, has also resulted in the growth of oilfield equipment rental service market. The increase in economies of scale due to the use of oilfield equipment also result in the growth of these market.

The report has been analyzed based on drilling equipment, pressure & flow control equipment and region. Drilling equipment is the most commonly used rented equipment due to its advance drilling technique such as horizontal and ultra-deep drilling which has made possible for extracting gas. On the basis of drilling equipment, drill pipes account for the largest market share due to its wide use in drilling the wells. Based on the pressure & flow control equipment, Blow out Preventers (BOPs) dominate this segment because they are widely used to seal, control and monitor the oil and gas wells and to prevent the blowout.

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Key Players
• Halliburton Co. (U.S.),
• Oil States International Inc. (U.S.),
• Schlumberger Ltd (U.S.),
• Superior Energy Services Inc. (U.S.),
• Weatherford International Ltd. (Switzerland),
• Baker Hughes (U.S.),
• National Oilwell Varco (U.S.),
• Cameron International Inc. (U.S.),
• Transocean Ltd. (Switzerland),
• B&B Oilfield Equipment Corp (U.S.).

North America accounts for the highest market share
The North America region has witnessed the largest market share for the oilfield equipment rental services market because of the presence of large number of drilling activities taking place in U.S. The growth in North America is also because of the increase in the demand of conventional and non-conventional drilling. The increase in the drilling activities in countries such as India, China and Russia has led to the growth of Asia-Pacific region. Latin America region has mainly driven by the increase in the E&P spending in this region.

The report has been analyzed based on drilling equipment, pressure & flow control equipment and region. Drilling equipment is the most commonly used rented equipment due to its advance drilling technique such as horizontal and ultra-deep drilling which has made possible for extracting gas. On the basis of drilling equipment, drill pipes account for the largest market share due to its wide use in drilling the wells. Based on the pressure & flow control equipment, Blow out Preventers (BOPs) dominate this segment because they are widely used to seal, control and monitor the oil and gas wells and to prevent the blowout.