North America Oilfield Equipment Rental Market is Expected to Reach $17375 Million in 2018

USA, October 30, 2014 (Newswire.com) - The North American oilfield equipment rental market report defines and segments the oilfield equipment rental market in North America with analysis and forecast of revenue. The oilfield equipment rental market in North America is estimated to grow from $8639 million in 2013 to $17375 million by 2018, at a CAGR of 15% from 2013 to 2018.

Browse through the TOC of the North American oilfield equipment rental market report, to get an idea of the in-depth analysis provided. This also provides a glimpse of the segmentation in the North American oilfield equipment rental market, and is supported by various tables and figures. 

The global oilfield equipment rental market is mainly driven by the increasing drilling activities in the upstream oil & gas business. The increasing oil prices, discoveries of oil rigs and the offshore platforms have raised the importance of exploration and production activities. The oil companies mostly focus on renting the equipments rather than buying, as renting eliminates the maintenance cost and also helps access the latest technology. Furthermore, it helps the companies to maintain its cash reserves for more essential expenditure.

North America holds the majority share in the global oilfield equipment rental market. More importantly, the large number of shale platform drilling activities in the U.S. has been driving the market growth.

This market is segmented and projected on the basis of equipment and geography. On the basis of geography, the market is segmented by country, such as the U.S. and Canada, while on the basis of equipment, the market is segmented into drilling equipment, pressure and flow control equipment, fishing equipment, and others. The drilling equipment segment is further sub-segmented into drill pipe, drill collars, heavy-water, drill subs, and others, while the pressure and flow control equipment segment is further sub-segmented into BOP, valves & manifolds, and others.

This report also includes market share, value chain analyses and market metrics such as drivers and restraints. In addition, it presents a competitive landscape and company profile of the key players in this market.