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PUBLISHER: TechSci Research | PRODUCT CODE: 1124808

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PUBLISHER: TechSci Research | PRODUCT CODE: 1124808

Saudi Arabia Oil Field Equipment Rental Market By Type (Drilling Equipment, Pressure & Flow Control Equipment, Fishing Equipment, Others), By Location (Onshore, Offshore), By Region, Competition, Forecast & Opportunities, 2027

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Saudi Arabia oil field equipment rental market is projected to witness growth at a significant CAGR during the forecast period, 2023-2027. The market growth can be attributed to the increasing oilfield explorations in the country. Saudi Arabia constitutes 17% of the global petroleum reserves, which accounts for 50% of the country's GDP and 70% of export business. Hence, developments in the ever-expanding industry are creating a high demand for oil field equipment, which is expected to drive market growth in the coming years.

Saudi Arabia's oil industry is quickly increasing and accounts for more than half of the country's income. Growing demand for oil and petroleum products, as well as globalization, will be important factors driving the expansion of the Saudi Arabia oil field equipment rental industry during the next five years. With the increase in demand, more excavation and oil extraction from reserves are increasing, which aids the demand for tools, equipment, and machinery, consequently boosting the expansion of the Saudi Arabia oil field equipment rental market over the next five years.

The current consumption trend ensures that the country's active reserves will survive for more than 200 years. Growing excavation necessitates technologically advanced equipment and tools, which will be essential in expanding the Saudi Arabia oil field equipment rental market during the next five years.

Market participants are focused on research and technology advances in oil field equipment, which will assist the expansion of the Saudi Arabia oil field equipment rental market during the next five years. In recent years, active market participants have strategically moved their attention to unconventional and deeper hydrocarbon sources. Oil extraction has recently turned toward shale gas and coal. Horizontal drilling and hydraulic fracturing are advanced technologies aiding the opening of shale oil and gas formations. The horizontal component of the oil rig count has increased significantly, which is expected to boost the growth of the Saudi Arabia oil field equipment rental industry during the next five years.

The Saudi Arabia oil field equipment rental market is segmented on the basis of type, location, competitional landscape, and regional distribution. Based on location, the market is divided between onshore and offshore. The onshore locations segment is anticipated to dominate the market during the forecast period due to increasing demands for drilling equipment in the onshore locations.

Major players operating in the Saudi Arabia oil field equipment rental market are Halliburton Company, Schlumberger N.V. (Schlumberger Limited), Chesapeake Energy Corporation, Weatherford International public limited company, Precision Drilling Corporation, Parker Drilling Company, Superior Energy Services Inc., Oil State International Inc., Basic Energy Services Inc., FMC Technologies, Inc., among others.

Years considered for this report:

Historical Years: 2017-2020

Base Year: 2021

Estimated Year: 2022

Forecast Period: 2023-2027

Objective of the Study:

  • To analyze the historical growth in the market size of the Saudi Arabia oil field equipment rental market from 2017 to 2021.
  • To estimate and forecast the market size of Saudi Arabia oil field equipment rental market from 2022 to 2027 and growth rate until 2027.
  • To classify and forecast the Saudi Arabia oil field equipment rental market based on type, location, region, and company.
  • To identify the dominant region or segment in the Saudi Arabia oil field equipment rental market.
  • To identify drivers and challenges for the Saudi Arabia oil field equipment rental market.
  • To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Saudi Arabia oil field equipment rental market.
  • To identify and analyze the profiles of leading players operating in the Saudi Arabia oil field equipment rental market.
  • To identify key sustainable strategies adopted by market players in Saudi Arabia oil field equipment rental market.

TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers who could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels, and presence of all major players across the country.

TechSci Research calculated the market size of the Saudi Arabia oil field equipment rental market using a top-down approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these products and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations, and financial reports were also studied by TechSci Research.

Key Target Audience:

  • Market research and consulting firms
  • Government bodies such as regulating authorities and policy makers
  • Organizations, forums, and alliances

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as product manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, Saudi Arabia oil field equipment rental market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

  • Saudi Arabia Oil Field Equipment Rental Market, By Type:

Drilling Equipment

  • Drill Pipe
  • Drill Collars
  • Drill Bit
  • Others

Pressure & Flow Control Equipment

Fishing Equipment

Others

  • Saudi Arabia Oil Field Equipment Rental Market, By Location:

Onshore

Offshore

  • Saudi Arabia Oil Field Equipment Rental Market, By Region:

Northern & Central Region

Eastern Region

Southern Region

Western Region

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Saudi Arabia oil field equipment rental market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).
Product Code: 10560

Table of Contents

1. Product Overview

2. Research Methodology

3. Impact of COVID-19 on Saudi Arabia Oil Field Equipment Rental Market

4. Executive Summary

5. Voice of Customers

6. Saudi Arabia Oil Field Equipment Rental Market Outlook

  • 6.1. Market Size & Forecast
    • 6.1.1. By Value & Volume
  • 6.2. Market Share & Forecast
    • 6.2.1. By Type (Drilling Equipment, Pressure & Flow Control Equipment, Fishing Equipment, Others)
    • 6.2.2. By Location (Onshore, Offshore)
    • 6.2.3. By Region
    • 6.2.4. By Company (2021)
  • 6.3. Product Market Map

7. Saudi Arabia Drilling Equipment Market Outlook

  • 7.1. Market Size & Forecast
    • 7.1.1. By Value
  • 7.2. Market Share & Forecast
    • 7.2.1. By Type (Drill Pipe, Drill Collars, Drill Bit, Others)
    • 7.2.2. By Location
    • 7.2.3. By Region

8. Saudi Arabia Pressure & Flow Control Equipment Market Outlook

  • 8.1. Market Size & Forecast
    • 8.1.1. By Value
  • 8.2. Market Share & Forecast
    • 8.2.1. By Location
    • 8.2.2. By Region

9. Saudi Arabia Fishing Equipment Market Outlook

  • 9.1. Market Size & Forecast
    • 9.1.1. By Value
  • 9.2. Market Share & Forecast
    • 9.2.1. By Location
    • 9.2.2. By Region

10. Market Dynamics

  • 10.1. Drivers
  • 10.2. Challenges

11. Market Trends & Developments

12. Policy & Regulatory Landscape

13. Saudi Arabia Economic Profile

14. Company Profiles

  • 14.1. Halliburton Company
  • 14.2. Schlumberger N.V. (Schlumberger Limited)
  • 14.3. Chesapeake Energy Corporation
  • 14.4. Weatherford International public limited company
  • 14.5. Precision Drilling Corporation
  • 14.6. Parker Drilling Company
  • 14.7. Superior Energy Services Inc.
  • 14.8. Oil State International Inc.
  • 14.9. Basic Energy Services Inc.
  • 14.10. FMC Technologies, Inc.

15. Strategic Recommendations

(Note: The companies list can be customized based on the client requirements.)

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Christine Sirois

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