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Oilfield Auxiliary Rental Equipment Market by Country (UAE, Saudi Arabia, Qatar, Oman, Kuwait and Bahrain): Opportunity Analysis and Industry Forecast, 2014 – 2020
Update Available On-Demand

EN_15623
Pages: 56
Feb 2015 | 5180 Views
 
Author(s) : Swapnil Shende
Tables: 3
Charts: 24
 

Oilfield Auxiliary Rental Equipment Market Outlook - 2020

Oilfield Auxiliary Rental Equipment Market is expected to garner $35 Billion by 2020, registering a CAGR of 9.4% during the forecast period 2014-2020.

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. The auxiliary equipment consists of sewage systems, mud labs, lighting system, distribution panels, storage tanks, debris junk catchers, transportation system, heat exchangers, flaring systems, drilling instruments and others.

The major factors driving the oilfield auxiliary rental equipment market include the rising demand for energy sources, impending need for cost optimization and increasing deep offshore oil production activities. Though technology and high prices of oil and gas are opening up new reservoirs, the world is facing scarcity of oil and gas due to the tremendous demand of these products, almost in all part of the world. In addition to this, rising income levels and improved standards of living cause additional pressure on energy supplies. Even if the usage of renewables increased, the world is likely to depend mainly on fossil fuels such as oil and natural gas in order to fulfill their energy needs. In such a scenario, the oil and gas industry players are focusing on inventing new technologies to increase extraction from the reserves..

Oilfield Auxiliary Rental Equipment Market

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However, some of the restraints associated with the market are the advent of automated systems and lack of skilled workforce. The impact of automated systems is expected to affect the market during the forecast period. The problem of unavailability of skilled workers would reduce in future due to increasing oilfield activities, globally. Moreover, advancements in automated systems would pose a major challenge, which would limit wider adoption of auxiliary oilfield equipment. The improvements for control automation in oilfield activities is limiting the need of auxiliary machines. The automated controlling machines accomplish large tasks with minimum resources. The advent of sophisticated automated systems would pose a challenge to the adoption of auxiliary equipment in oilfields.

The oilfield auxiliary rental equipment report analyzes the market in the GCC region. In order to study the regional imperatives, the research is focused on countries such as Saudi Arabia, U.A.E., Oman, Qatar, Kuwait, etc. Superior Energy Services Inc., Oil States International Inc., Weatherford, Schlumberger, The Olayan Group, Key Energy Services and others are some of the key players in the GCC region.

In order to stay competitive in the oilfield auxiliary rental equipment industry, key players are adopting numerous strategies such as product launch, partnership, business expansion and merger & acquisition. Merger/acquisition and expansions are the prime strategies followed by numerous companies to gain a competitive edge in the oilfield auxiliary rental equipment market. Generally, the operating companies in the oilfield auxiliary market acquire other companies to enhance their services. The mergers and acquisitions allow the operating companies to improve their capabilities and technology as well as expand their geographical presence. This helps operating companies to deliver better product and services to their customers within a short period of time. For instance, Schlumberger, OneSubsea and Helix have formed the joint venture to develop technologies and services of subsea well intervention systems. This new joint alliance would help optimizing the efficiency and cost of the subsea well intervention systems. In addition, the capabilities of alliance companies would enhance through this joint venture.

Furthermore, HB rentals, Superior Energy Services has opened the new service location in Carmen, Mexico. This new service location would provide an extensive range of services such as power, lighting and communications system. The new service center would allow the company to respond to clients quickly.

Oilfield Auxiliary Rental Equipment Market by Country

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The Oilfield Auxiliary Rental Equipment Market is segmented into region. Based on region the oilfield auxiliary rental equipment market is analyzed across UAE, Saudi Arabia, Qatar, Oman, Kuwait, and Baharian.

Oilfield Auxiliary Rental Equipment Market Share, by Region

Based on region, the market is analyzed across UAE
Saudi Arabia, Qatar, Oman, Kuwait, and Bahrain. Saudi Arabia is anticipated to be highest revenue-generating country for the oilfield auxiliary rental equipment market, valued at USD 11.08 billion in 2014. This is attributed to a rise in the oil production since the past few years, the Saudi Arabian oilfield auxiliary rental equipment market has witnessed a considerable growth and is expected to demonstrate a similar trend in the during the projected period. Bahrain is expected to be the fastest growing market during the analysis period. Growth of the oilfield auxiliary rental equipment market in Bahrain is because of rapidly maturing oil fields due to years of extraction.

Key Benefits for Stakeholders:

  • The report provides an in-depth analysis of the oilfield auxiliary rental equipment market forecast with current and future trends.
  • This report highlights the key drivers, opportunities, and restraints of the market along with an impact analysis of the forecast period.
  • Porter’s five forces analysis helps to analyze the potential of the buyers & suppliers and the competitive scenario of the oilfield auxiliary rental equipment industry for strategy building.
  • A comprehensive analysis of the factors that drive and restrain the growth of the market is provided.
  • The qualitative data in this oilfield rental equipment market report aims on market dynamics, oilfield auxiliary rental equipment market trends, and developments.
  • Oilfield auxiliary rental equipment market size is provided in terms of revenue.
  • An extensive oilfield auxiliary rental equipment market analysis of the specific region provides insights that are expected to allow companies to strategically plan their business moves.
  • The profiles of key players along with their key strategic developments are enlisted in the oilfield auxiliary rental equipment report

Oilfield Auxiliary Rental Equipment Market Segmentation:

The oilfield auxiliary rental equipment market is segmented based on region.

Key Market Segments

Oilfield Auxiliary Rental Equipment, By Region

  • UAE
  • Saudi Arabia
  • Qatar
  • Oman
  • Kuwait
  • Bahrain

Oilfield Auxiliary Rental Equipment Key Players

  • Superior Energy Services Inc.
  • Schlumberger Limited
  • Oil States International Inc.
  • Weatherford
  • The Olayan Group
  • Key Energy Services Inc
 

TABLE OF CONTENTS

1. INTRODUCTION

1.1. Report Description
1.2. Key Benefits
1.3. Research Methodology

1.3.1. Secondary Research
1.3.2. Primary Research
1.3.3. Analyst tool & Model  

2. EXECUTIVE SUMMARY

2.1. List of Abbreviations
2.2. Scope of the report

2.2.1. Market overview
2.2.2. Product offerings

2.3. Market landscape

2.3.1. Market overview
2.3.2. Market size & forecast

2.4. Porter’s five forces analysis

2.4.1. Moderate threat of entry of new players
2.4.2. Rising threat of substitutes
2.4.3. Threat of bargaining power of suppliers
2.4.4. Threat of bargaining power of customers
2.4.5. Higher threat from industry rivalry

3. OILFIELD AUXILIARY RENTAL EQUIPMENT MARKET BY GEOGRAPHY, 2013 – 2020 $MILLION

3.1. Introduction
3.2. UAE
3.3. Saudi Arabia
3.4. Qatar
3.5. Oman
3.6. Kuwait
3.7. Bahrain

4. MARKET OVERVIEW

4.1. Buying criteria
4.2. Market dynamics

4.2.1. Drivers

4.2.1.1. Total cost optimization
4.2.1.2. Increased energy demands
4.2.1.3. Falling oil prices
4.2.1.4. Impact of market drivers

4.2.2. Challenges

4.2.2.1. Advent of automated systems
4.2.2.2. Lack of skilled workers
4.2.2.3. Impact of market challenges

4.3. Market trends
4.4. Trends and their impact
4.5. Vendor landscape

4.5.1. Competitive scenario
4.5.2. Key news
4.5.3. Merger and acquisitions
4.5.4. Importance of  Merger and acquisitions in oil field auxiliary equipment Market

5. OTHER PROMINENT VENDORS

5.1. The Olayan Group

5.1.1. Business overview
5.1.2. Key Information
5.1.3. SWOT analysis of The Olayan Group

5.2. Key Energy Services Inc.

5.2.1. Business overview
5.2.2. Key Information
5.2.3. Business segmention
5.2.4. SWOT analysis of Key Energy Services Inc.

6. KEY VENDOR ANALYSIS

6.1. Superior Energy Services Inc.

6.1.1. Business overview
6.1.2. Key Information
6.1.3. Business segmentation
6.1.4. SWOT analysis of Superior Energy Services Inc.

6.2. Schlumberger Limited

6.2.1. Business overview
6.2.2. Key Information
6.2.3. Business segmentation
6.2.4. SWOT analysis of Schlumberger

6.3. Oil States International Inc.

6.3.1. Business overview
6.3.2. Key Information
6.3.3. Business segmentation
6.3.4. SWOT analysis of Oil state international Inc.

6.4. Weatherford 

6.4.1. Business overview
6.4.2. Key Information
6.4.3. Business segmentation
6.4.4. SWOT analysis of Weatherford

LIST OF TABLES

TABLE 1 OILFIELD AUXILIARY  RENTAL EQUIPMENT MARKET REVENUE BY GCC COUNTRIES, 2015-2019 ($ MILLION)
TABLE 2  GCC OILFIELD AUXILIARY RENTAL EQUIPMENT MARKET , 2015-2019 ($ MILLION)
TABLE 3  KEY MARKET PLAYERS POSITIONING

LIST OF FIGURES

FIG. 1 PORTER’S FIVE FORCES MODEL
FIG. 2  CRUDE OIL PRODUCTION, THOUSAND BARRELS PER DAY, 2006-2012
FIG. 3  IMPACT OF DRIVERS, 2014 & 2020
FIG. 4  IMPACT OF CHALLENGES, 2014 & 2020
FIG. 5  SWOT ANALYSIS OF THE OLAYAN GROUP
FIG. 6  REVENUE GENERATED BY KEY ENERGY SERVICES INC.
FIG. 7  REVENUE OF KEY ENERGY SERVICES INC. IN PERCENTAGE BY GEOGRAPHY 2013
FIG. 8  SWOT ANALYSIS OF KEY ENERGY SERVICES INC.
FIG. 9  REVENUE GENERATED BY SUPERIOR ENERGY SERVICES INC.
FIG. 10  REVENUE OF SUPERIOR ENERGY SERVICES INC. IN PERCENTAGE BY GEOGRAPHY 2013
FIG. 11  REVENUE OF SUPERIOR ENERGY SERVICES INC. IN PERCENTAGE BY SEGMENT 2013
FIG. 12  SWOT ANALYSIS OF SUPERIOR ENERGY SERVICES INC.
FIG. 13  REVENUE GENERATED BY SCHLUMBERGER
FIG. 14  REVENUE OF SCHLUMBERGER IN PERCENTAGE BY GEOGRAPHY 2013
FIG. 15  REVENUE OF SCHLUMBERGER IN PERCENTAGE BY SEGMENT 2013
FIG. 16  SWOT ANALYSIS OF SCHLUMBERGER
FIG. 17  REVENUE GENERATED BY OIL STATES INTERNATIONAL INC.
FIG. 18  REVENUE OF OIL STATES INTERNATIONAL INC.IN PERCENTAGE BY GEOGRAPHY 2013
FIG. 19  REVENUE OF OIL STATES INTERNATIONAL INC.IN PERCENTAGE BY SEGMENT 2013
FIG. 20  SWOT ANALYSIS OF OIL STATE INTERNATIONAL INC.
FIG. 21  REVENUE GENERATED BY WEATHERFORD
FIG. 22  REVENUE OF WEATHERFORD IN PERCENTAGE BY GEOGRAPHY 2013
FIG. 23  REVENUE OF WEATHERFORD IN PERCENTAGE BY SEGMENT 2013
FIG. 24  SWOT ANALYSIS OF WEATHERFORD 

 
 

Oilfield auxiliary equipment are termed as machines and instruments, used for supporting activities at oilfields. The equipment used less frequently on the oilfield are availed on rent by various oil extraction companies. The major factors driving the auxiliary rental equipment market include the rising demand for energy sources, need of cost optimization and the increasing deep offshore oil production activities.

In the past year, oil prices have reduced to their four year lowest value, which has affected the profit of oil production companies. In order to ensure the profitability of business, companies are optimizing their redundant expenses. Auxiliary equipment’s are infrequently used instruments in oilfield activities. Therefore, companies avail such instruments on rent instead of purchasing them. These oilfield auxiliary equipment are offered on rent for an hourly, daily, weekly or annual period.

Weatherford, Schlumberger, The Olayan Group, Key Energy Services and others are some of the key players in the GCC region.  Merger/acquisition and expansions are the prime strategies followed by numerous companies to gain a competitive edge in the market. The oilfield auxiliary rental equipment market is moderately attractive for new players based on the high capital investments and advanced technology requirement. Various companies present in the GCC region are in the process of expanding their presence by strengthening their sales channels.

 

 

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