The Report “Africa Oilfield Equipment Rental Market by Type (Drilling Equipment, Pressure & Flow Control Equipment, Fishing Equipment & Others), by Application (Onshore & Offshore), by Country - Analysis & Forecast To 2019” is estimated to reach $3,619 million by 2019, at a CAGR of 4.0% from 2014 to 2019.
Browse through the TOC of the Africa Oilfield Equipment Rental Market for an analysis of industry trends and segments, with the help of various tables and figures.
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Technological advancements are driving the oilfield equipment rental market. Companies are reluctant to buy oilfield equipment not only because of huge capital investments and maintenance costs, but also because the equipment depreciates and becomes obsolete soon. By renting, drillers can get the most advanced equipment for the local geography. They are also saved form the transportation cost of equipment from one drilling site to the other.
Rental players are constantly trying to modify their product line with highly customized and advanced equipment in order to bag more supply contracts, which will help increase their market share. This market has very few large players like Weatherford International Ltd., Schlumberger Ltd., and Oil States International Inc., which are actually the rental divisions of major oilfield service providers. Other local companies operate in specific areas and capture insignificant market shares individually.
The drilling rental equipment segment dominated the African oilfield equipment rental market due to its wide usage and the increased drilling activities in the region. Drill pipe, which is a sub-segment of drilling equipment, is estimated to account for the largest share (57.3%) of the total drilling equipment rental market by 2019, due its vast usage during drilling processes. In the pressure and flow control sub-segment, BOPs (Blow Out Preventers), dominated the market, having accounted for a share of 45% in 2013. This share is projected to grow at a CAGR of 5.0% from 2014 to 2019.
The equipment types in the concerned market are drilling, pressure & flow control, fishing, and other equipment. The market, analyzed in terms of geography, includes Angola, Nigeria, Algeria, Egypt, and Rest of Africa.
The market shares of major African oilfield equipment rental types have been estimated in this report. The report also focuses on market share analysis, and market metrics such as drivers, challenges, opportunities, and winning imperatives.
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