Oilfield Equipment Rental Market Trends
The global oilfield equipment rental market size was estimated at USD 24.13 billion in 2023 and is anticipated to grow at a CAGR of 3.8% from 2024 to 2030. Rising global investments in oil & gas exploration and production (E&P) activities are a major driver for the market. Crude oil and natural gas demand is increasing, leading operators to ramp up drilling and production.
Moreover, oil & gas operators increasingly favor rental over ownership of oilfield equipment. Renting provides flexibility, reduces upfront capital expenditure, and transfers maintenance responsibilities to the rental provider. Furthermore, oilfield equipment is becoming more advanced, enabling economical exploration of unconventional and deep hydrocarbon resources like shale, tight gas, and heavy oil. Technologies like horizontal drilling, deep drilling, and RFID circulation subs are being widely adopted. These aforementioned factors are anticipated to drive the demand for the market.
Global Oilfield Equipment Rental Market Report Segmentation
This report forecasts revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global oilfield equipment rental market based on the type, application, and region:
- Type Outlook (Revenue, USD Million, 2018 - 2030)
- Drilling Equipment
Drill Pipe
Drill Collar
Hevi-Wate
Others
Blow Out Preventer
Valves & Manifolds
Others
- Fishing Equipment
- Others
- Application Outlook (Revenue, USD Million, 2018 - 2030)
- Onshore
- Offshore
- Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
U.S.
Canada
Mexico
Russia
Norway
UK
Netherlands
Germany
China
India
Japan
Indonesia
Brazil
Argentina
Venezuela
Kuwait
Saudi Arabia
UAE
Nigeria
Iraq
Qatar
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Market Definitions
- 1.3. Research Methodology
- 1.4. Information Procurement
- 1.4.1. Purchased Database
- 1.4.2. GVR's Internal Database
- 1.4.3. Secondary Sources
- 1.4.4. Third Party Perspective
- 1.4.5. Information Analysis
- 1.5. Information Analysis
- 1.5.1. Data Analysis Models
- 1.5.2. Market Formulation & Data Visualization
- 1.5.3. Data Validation & Publishing
- 1.6. Research Scope and Assumptions
- 1.6.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. Oilfield Equipment Rental Market Variables, Trends, & Scope
- 3.1. Market Concentration & Penetration Outlook
- 3.2. Industry Value Chain Analysis
- 3.3. Technology Overview
- 3.4. Regulatory Framework
- 3.5. Market Dynamics
- 3.5.1. Market Drivers Analysis
- 3.5.2. Market Restraints Analysis
- 3.5.3. Market Opportunity Analysis
- 3.5.4. Market Challenge Analysis
- 3.6. Oilfield Equipment Rental Market Analysis Tools
- 3.6.1. Porter's Analysis
- 3.6.1.1. Bargaining power of the suppliers
- 3.6.1.2. Bargaining power of the buyers
- 3.6.1.3. Threats of substitution
- 3.6.1.4. Threats from new entrants
- 3.6.1.5. Competitive rivalry
- 3.6.2. PESTEL Analysis
- 3.6.2.1. Political landscape
- 3.6.2.2. Economic and Social landscape
- 3.6.2.3. Technological landscape
- 3.6.2.4. Environmental landscape
- 3.6.2.5. Legal landscape
- 3.7. Economic Mega Trend Analysis
Chapter 4. Oilfield Equipment Rental Market: Type Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Oilfield Equipment Rental Market: Type Movement Analysis, USD Million, 2023 & 2030
- 4.3. Drilling Equipment
- 4.3.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.3.2. Drill Pipe
- 4.3.2.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.3.3. Drill Collar
- 4.3.3.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.3.4. Hevi-Wate
- 4.3.4.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.3.5. Others
- 4.3.5.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.4. Pressure & Flow Control
- 4.4.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.4.2. Blow Out Preventer
- 4.4.2.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.4.3. Valves & Manifolds
- 4.4.3.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.4.4. Others
- 4.4.4.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.5. Fishing Equipment
- 4.5.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 4.6. Others
- 4.6.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 5. Oilfield Equipment Rental Market: Application Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Oilfield Equipment Rental Market: Application Movement Analysis, USD Million, 2023 & 2030
- 5.3. Onshore
- 5.3.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 5.4. Offshore
- 5.4.1. Market Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 6. Oilfield Equipment Rental Market: Region Estimates & Trend Analysis
- 6.1. Oilfield Equipment Rental Market Share, By Region, 2023 & 2030, USD Million
- 6.2. North America
- 6.2.1. Oilfield Equipment Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.2.2. Oilfield Equipment Rental Market Estimates and Forecasts by Type, 2018 - 2030 (USD Million)
- 6.2.3. Oilfield Equipment Rental Market Estimates and Forecasts by Application, 2018 - 2030 (USD Million)
- 6.2.4. U.S.
- 6.2.4.1. Oilfield Equipment Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.2.4.2. Oilfield Equipment Rental Market Estimates and Forecasts by Type, 2018 - 2030 (USD Million)
- 6.2.4.3. Oilfield Equipment Rental Market Estimates and Forecasts by Application, 2018 - 2030 (USD Million)
- 6.2.5. Canada
- 6.2.5.1. Oilfield Equipment Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.2.5.2. Oilfield Equipment Rental Market Estimates and Forecasts by Type, 2018 - 2030 (USD Million)
- 6.2.5.3. Oilfield Equipment Rental Market Estimates and Forecasts by Application, 2018 - 2030 (USD Million)
- 6.2.6. Mexico
- 6.2.6.1. Oilfield Equipment Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.2.6.2. Oilfield Equipment Rental Market Estimates and Forecasts by Type, 2018 - 2030 (USD Million)
- 6.2.6.3. Oilfield Equipment Rental Market Estimates and Forecasts by Application, 2018 - 2030 (USD Million)
- 6.3. Europe
- 6.3.1. Oilfield Equipment Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.2. Oilfield Equipment Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.3. Oilfield Equipment Rental Market Estimates and Forecasts by Type, 2018 - 2030 (USD Million)
- 6.3.4. Oilfield Equipment Rental Market Estimates and Forecasts by Application, 2018 - 2030 (USD Million)
- 6.3.5. Russia
- 6.3.5.1. Oilfield Equipment Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.5.2. Oilfield Equipment Rental Market Estimates and Forecasts by Type, 2018 - 2030 (USD Million)
- 6.3.5.3. Oilfield Equipment Rental Market Estimates and Forecasts by Application, 2018 - 2030 (USD Million)
- 6.3.6. Norway
- 6.3.6.1. Oilfield Equipment Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.6.2. Oilfield Equipment Rental Market Estimates and Forecasts by Type, 2018 - 2030 (USD Million)
- 6.3.6.3. Oilfield Equipment Rental Market Estimates and Forecasts by Application, 2018 - 2030 (USD Million)
- 6.3.7. UK
- 6.3.7.1. Oilfield Equipment Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.7.2. Oilfield Equipment Rental Market Estimates and Forecasts by Type, 2018 - 2030 (USD Million)
- 6.3.7.3. Oilfield Equipment Rental Market Estimates and Forecasts by Application, 2018 - 2030 (USD Million)
- 6.3.8. Netherlands
- 6.3.8.1. Oilfield Equipment Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.8.2. Oilfield Equipment Rental Market Estimates and Forecasts by Type, 2018 - 2030 (USD Million)
- 6.3.8.3. Oilfield Equipment Rental Market Estimates and Forecasts by Application, 2018 - 2030 (USD Million)
- 6.3.9. Germany
- 6.3.9.1. Oilfield Equipment Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.9.2. Oilfield Equipment Rental Market Estimates and Forecasts by Type, 2018 - 2030 (USD Million)
- 6.3.9.3. Oilfield Equipment Rental Market Estimates and Forecasts by Application, 2018 - 2030 (USD Million)
- 6.4. Asia Pacific
- 6.4.1. Oilfield Equipment Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.2. Oilfield Equipment Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.3. Oilfield Equipment Rental Market Estimates and Forecasts by Type, 2018 - 2030 (USD Million)
- 6.4.4. Oilfield Equipment Rental Market Estimates and Forecasts by Application, 2018 - 2030 (USD Million)
- 6.4.5. China
- 6.4.5.1. Oilfield Equipment Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.5.2. Oilfield Equipment Rental Market Estimates and Forecasts by Type, 2018 - 2030 (USD Million)
- 6.4.5.3. Oilfield Equipment Rental Market Estimates and Forecasts by Application, 2018 - 2030 (USD Million)
- 6.4.6. India
- 6.4.6.1. Oilfield Equipment Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.6.2. Oilfield Equipment Rental Market Estimates and Forecasts by Type, 2018 - 2030 (USD Million)
- 6.4.6.3. Oilfield Equipment Rental Market Estimates and Forecasts by Application, 2018 - 2030 (USD Million)
- 6.4.7. Japan
- 6.4.7.1. Oilfield Equipment Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.7.2. Oilfield Equipment Rental Market Estimates and Forecasts by Type, 2018 - 2030 (USD Million)
- 6.4.7.3. Oilfield Equipment Rental Market Estimates and Forecasts by Application, 2018 - 2030 (USD Million)
- 6.4.8. Indonesia
- 6.4.8.1. Oilfield Equipment Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.4.8.2. Oilfield Equipment Rental Market Estimates and Forecasts by Type, 2018 - 2030 (USD Million)
- 6.4.8.3. Oilfield Equipment Rental Market Estimates and Forecasts by Application, 2018 - 2030 (USD Million)
- 6.5. Latin America
- 6.5.1. Oilfield Equipment Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5.2. Oilfield Equipment Rental Market Estimates and Forecasts by Type, 2018 - 2030 (USD Million)
- 6.5.3. Oilfield Equipment Rental Market Estimates and Forecasts by application, 2018 - 2030 (USD Million)
- 6.5.4. Brazil
- 6.5.4.1. Oilfield Equipment Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5.4.2. Oilfield Equipment Rental Market Estimates and Forecasts by Type, 2018 - 2030 (USD Million)
- 6.5.4.3. Oilfield Equipment Rental Market Estimates and Forecasts by Application, 2018 - 2030 (USD Million)
- 6.5.5. Argentina
- 6.5.5.1. Oilfield Equipment Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5.5.2. Oilfield Equipment Rental Market Estimates and Forecasts by Type, 2018 - 2030 (USD Million)
- 6.5.5.3. Oilfield Equipment Rental Market Estimates and Forecasts by Application, 2018 - 2030 (USD Million)
- 6.5.6. Venezuela
- 6.5.6.1. Oilfield Equipment Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.5.6.2. Oilfield Equipment Rental Market Estimates and Forecasts by Type, 2018 - 2030 (USD Million)
- 6.5.6.3. Oilfield Equipment Rental Market Estimates and Forecasts by Application, 2018 - 2030 (USD Million)
- 6.6. Middle East & Africa
- 6.6.1. Oilfield Equipment Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6.2. Oilfield Equipment Rental Market Estimates and Forecasts by Type, 2018 - 2030 (USD Million)
- 6.6.3. Oilfield Equipment Rental Market Estimates and Forecasts by Application, 2018 - 2030 (USD Million)
- 6.6.4. Kuwait
- 6.6.4.1. Oilfield Equipment Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6.4.2. Oilfield Equipment Rental Market Estimates and Forecasts by Type, 2018 - 2030 (USD Million)
- 6.6.4.3. Oilfield Equipment Rental Market Estimates and Forecasts by Application, 2018 - 2030 (USD Million)
- 6.6.5. Saudi Arabia
- 6.6.5.1. Oilfield Equipment Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6.5.2. Oilfield Equipment Rental Market Estimates and Forecasts by Type, 2018 - 2030 (USD Million)
- 6.6.5.3. Oilfield Equipment Rental Market Estimates and Forecasts by Application, 2018 - 2030 (USD Million)
- 6.6.6. UAE
- 6.6.6.1. Oilfield Equipment Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6.6.2. Oilfield Equipment Rental Market Estimates and Forecasts by Type, 2018 - 2030 (USD Million)
- 6.6.6.3. Oilfield Equipment Rental Market Estimates and Forecasts by Application, 2018 - 2030 (USD Million)
- 6.6.7. Nigeria
- 6.6.7.1. Oilfield Equipment Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6.7.2. Oilfield Equipment Rental Market Estimates and Forecasts by Type, 2018 - 2030 (USD Million)
- 6.6.7.3. Oilfield Equipment Rental Market Estimates and Forecasts by Application, 2018 - 2030 (USD Million)
- 6.6.8. Iraq
- 6.6.8.1. Oilfield Equipment Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6.8.2. Oilfield Equipment Rental Market Estimates and Forecasts by Type, 2018 - 2030 (USD Million)
- 6.6.8.3. Oilfield Equipment Rental Market Estimates and Forecasts by Application, 2018 - 2030 (USD Million)
- 6.6.9. Qatar
- 6.6.9.1. Oilfield Equipment Rental Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.6.9.2. Oilfield Equipment Rental Market Estimates and Forecasts by Type, 2018 - 2030 (USD Million)
- 6.6.9.3. Oilfield Equipment Rental Market Estimates and Forecasts by Application, 2018 - 2030 (USD Million)
Chapter 7. Competitive Landscape
- 7.1. Recent Developments & Impact Analysis by Key Market Participants
- 7.2. Company Categorization
- 7.3. Company Market Positioning
- 7.4. Company Market Share Analysis, 2023
- 7.5. Company Heat Map Analysis, 2023
- 7.6. Strategy Mapping
- 7.7. Company Profiles
- 7.7.1. Schlumberger
- 7.7.1.1. Participant's Overview
- 7.7.1.2. Financial Performance
- 7.7.1.3. Product Benchmarking
- 7.7.1.4. Strategic Initiatives
- 7.7.2. Baker Hughes
- 7.7.2.1. Participant's Overview
- 7.7.2.2. Financial Performance
- 7.7.2.3. Product Benchmarking
- 7.7.2.4. Strategic Initiatives
- 7.7.3. GE company
- 7.7.3.1. Participant's Overview
- 7.7.3.2. Financial Performance
- 7.7.3.3. Product Benchmarking
- 7.7.3.4. Strategic Initiatives
- 7.7.4. Halliburton
- 7.7.4.1. Participant's Overview
- 7.7.4.2. Financial Performance
- 7.7.4.3. Product Benchmarking
- 7.7.4.4. Strategic Initiatives
- 7.7.5. Weatherford
- 7.7.5.1. Participant's Overview
- 7.7.5.2. Financial Performance
- 7.7.5.3. Product Benchmarking
- 7.7.5.4. Strategic Initiatives
- 7.7.6. Technip
- 7.7.6.1. Participant's Overview
- 7.7.6.2. Financial Performance
- 7.7.6.3. Product Benchmarking
- 7.7.6.4. Strategic Initiatives
- 7.7.7. Superior Energy Services
- 7.7.7.1. Participant's Overview
- 7.7.7.2. Financial Performance
- 7.7.7.3. Product Benchmarking
- 7.7.7.4. Strategic Initiatives
- 7.7.8. Transocean
- 7.7.8.1. Participant's Overview
- 7.7.8.2. Financial Performance
- 7.7.8.3. Product Benchmarking
- 7.7.8.4. Strategic Initiatives
- 7.7.9. BJ Services
- 7.7.9.1. Participant's Overview
- 7.7.9.2. Financial Performance
- 7.7.9.3. Product Benchmarking
- 7.7.9.4. Strategic Initiatives
- 7.7.10. Petrofac
- 7.7.10.1. Participant's Overview
- 7.7.10.2. Financial Performance
- 7.7.10.3. Product Benchmarking
- 7.7.10.4. Strategic Initiatives
- 7.7.11. COSL - China Oilfield Services Limited
- 7.7.11.1. Participant's Overview
- 7.7.11.2. Financial Performance
- 7.7.11.3. Product Benchmarking
- 7.7.11.4. Strategic Initiatives
- 7.7.12. Worley
- 7.7.12.1. Participant's Overview
- 7.7.12.2. Financial Performance
- 7.7.12.3. Product Benchmarking
- 7.7.12.4. Strategic Initiatives
- 7.7.13. McDermott International Inc.
- 7.7.13.1. Participant's Overview
- 7.7.13.2. Financial Performance
- 7.7.13.3. Product Benchmarking
- 7.7.13.4. Strategic Initiatives
- 7.7.14. Bechtel Corporation
- 7.7.14.1. Participant's Overview
- 7.7.14.2. Financial Performance
- 7.7.14.3. Product Benchmarking
- 7.7.14.4. Strategic Initiatives
- 7.7.15. National Oilwell Varco
- 7.7.15.1. Participant's Overview
- 7.7.15.2. Financial Performance
- 7.7.15.3. Product Benchmarking
- 7.7.15.4. Strategic Initiatives