The Report “Europe Oilfield Equipment Rental Market By Type (Drilling Equipment, Pressure and Flow Control Equipment, Fishing Equipment and Others), by Application (Onshore and Offshore) & by Country Analysis and Forecast to 2019” is estimated to reach $6,377 million by 2019, at a CAGR of 5.3%from 2014 to 2019.
Browse through the TOC of the Europe Oilfield Equipment Rental Market for an analysis of industry trends and segments, with the help of various tables and figures.
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The companies operating in the drilling services market are reluctant to buy oilfield equipments not only because of the huge capital investments and maintenance cost but also because the equipment used in drilling depreciate and become obsolete. By renting, the drillers get the most advanced equipments that suit the local terrain. They are also saved form the transportation cost of equipments from one drilling site to the other. The trend of renting equipment in order to increase the operational efficiency along with cost saving is driving the oilfield rental market.
Drilling rental equipment, due to its wide usage and increased drilling activity dominate the Europe oilfield rental market. Within drilling equipment, the drill pipes segment dominated the market having accounted for the largest share of 58.1% in 2014. BOPs (Blow out preventers) dominate the pressure and flow control equipment rental market having accounted for a share of 51.3% and it is projected to grow at a CAGR of 6.3% from 2014 to 2019.
The main equipments in the concerned market are drilling equipment, pressure & flow control equipment, fishing equipment, and other equipment. The market has been analyzed in terms of the major countries in the Europe market, such as Russia, Norway, the U.K., Kazakhstan and Rest of Europe.
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