Global 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 consist 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. 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 auxiliary rental equipment market in near future.
The 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. 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 study provides an in-depth analysis of the oilfield auxiliary rental equipment market with current and future trends to elucidate the imminent investment pockets in the market
- Current and future trends are outlined to determine the overall attractiveness and to single out profitable trends in order to gain a stronger foothold in the market
- The report provides information regarding key drivers and challenges with their impact on the market
- Quantitative analysis of the current market and estimations through 2013-2020 are provided to highlight the ongoing and future trends
- Porters Five Forces model and SWOT analysis of the industry illustrate the potency of the buyers & suppliers participating in the market
MARKET BY GEOGRAPHY
- Saudi Arabia
- Superior Energy Services Inc.
- Schlumberger Limited
- Oil States International Inc.
- The Olayan Group
- Key Energy Services Inc.