Paul Thomen

Thursday, 4 April 2013

Global Oilfield Rental Market Trends & Forecas to 2018

Rising oil & gas prices and increasing drilling activity will drive the global oilfield equipment rental (oilfield rental) market to $46.8 billion by 2018. North America, with its increased focus on unconventional shale plays and keen oil & gas industry, is expected to experience highest revenue growth during the next five years.

The factors driving growth in the OER market are increasing drilling activity and rising oil prices. These factors are driving the production of uneconomical field viable, tendency of drilling contractor & oilfield service providers to rent rather than buy equipment, and advancements in technology that hugely favors renting. Oilfield rental is a highly developing market despite its large base due to growing energy demand. The market is expected to experience high growth due to the increasing oilfield expenditure and flourishing oil & gas industry of Africa and Latin America.

Oilfield rental industry is highly fragmented and localized. Most players in this industry are very small and have a very paltry area of influence, barring a few which are genuinely the rental divisions of big OFS (oilfield service) provider companies. One’s offering rental tools in unconventional shale plays and ultra deep-water fields are the most successful rental companies. Through mergers and acquisitions, many large-cap oilfield service companies have been able to bring several complementary technologies under one provider. This also helps in increasing their overall market presence, thus increasing rental revenues. Weatherford International Ltd (Switzerland) is the largest player in this market. Since North America is the biggest market, most of the notable rental companies operate here.

Drilling rental equipment, due to its wide usage and increased drilling activity dominate the global oilfield rental market. Within drilling equipment, drillpipes hold the largest share as most of wells being drilled have considerable depths. Subsequently to drilling equipment, pressure and flow control are the most rented. BOPs (Blow out preventers) dominate the pressure and flow control equipment rental market.

The report covers the global OER market in major regions namely Asia-Pacific, Europe, North America, Latin America, Middle East, and Africa under major types of rental equipment such as drilling, pressure & flow control, fishing, etc. The market size for various drilling rental tools such as drill pipes and drill collars, etc. have also been estimated along with pressure and flow control tools.

For this report, various secondary sources such as oil & gas magazines, encyclopedia, directories, technical handbooks, company annual reports, industry association publications, articles, trade websites, and databases have been referred to identify & collect information useful for this extensive commercial study. The primary sources — experts from related industries and suppliers — have been interviewed to obtain and verify critical information as well as to assess the future prospects and market estimations.
This report analyzes various marketing trends and establishes the most effective growth strategy in the market. It identifies market dynamics such as drivers, restraints, opportunities, burning issues, and winning imperatives. Major companies such as Chesapeake Oilfield Services LLC (U.S.), Superior Energy Services Inc. (U.S.), Weatherford International Ltd (Switzerland), Precision Drilling Corporation (Canada), etc. have also been profiled in this report.

Scope of the report

On basis of geography:
- North America
- Asia-Pacific
- Europe
- Africa
- Latin America
- Middle East

On basis of equipment:
- Drilling equipment
- Pressure & flow control equipment
- Fishing tools
- Other equipment

Table of Content

1 Introduction (Page No. - 23)
1.1 Key Take-Aways
1.2 Report Description
1.3 Markets Covered
1.4 Stake Holders
1.5 Research Methodology
1.5.1 Market Size
1.5.2 Key Data Points Taken From Secondary Sources
1.5.3 List Of Secondary Data Sources
1.5.4 Key Data Points Taken From Primary Sources
1.5.5 Assumptions Made For This Report
2 Executive Summary (Page No. - 28)
3 Premium Insights (Page No. - 30)
3.1 Market Segmentation
3.2 Market Scenario In 2012
3.3 North America & Asia-Pacific - Best Markets To Invest
3.4 North America To Continue Driving The Oer Market
3.5 U.S. – The Largest Oer Market
3.6 Drilling Equipment Are Rented The Most
3.7 Top 20 Players Occupy One Third Of Oer Market
3.8 2012 Was The Most Active Year For Oer Market
3.9 Most Companies Relied On Mergers & Acquisition For Growth
3.10 Top Five Companies Relied On Launching New & Improved Products
4 Market Overview (Page No. - 42)
4.1 Introduction
4.2 Major Ofs Players Maintain Their Own Rental Division
4.3 Value Chain
4.4 Market Dynamics
4.4.1 Drivers Increased Drilling Activity Increasing Oil Prices Making Production Of Uneconomical Fields Viable Tendency To Rent Rather Than Buy Advancement In Technology Favors Renting
4.4.2 Restraints Customized Demand By Drillers Heavy Capital Expenditure
4.4.3 Opportunities Growing Unconventional Hydrocarbon Market New Explorations Near Arctic Circle And Ultra-Deep Offshore Drilling
4.4.4 Winning Imperatives Acquisition Of Small Rental Companies Focusing On Unconventional Oil Sources
4.5 Porter’s Five Forces Analysis
4.5.1 Supplier’s Power
4.5.2 Buyer’s Power
4.5.3 Threat Of New Entrants
4.5.4 Threat Of Substitutes
4.5.5 Degree Of Competition
5 Oilfield Equipment Rental Market, By Equipment (Page No. - 65)
5.1 Introduction
5.2 Drilling Equipment To Drive Oer Market
5.2.1 Drilling Equipment Latin America & Africa Are Emerging Markets Drill Pipe To Boost Drilling Equipment Rental Market Drillpipe Drill Collar Heavy-Wate Subs Other Drilling Equipment
5.2.2 Pressure & Flow Control Equipment Bops Most Rented Pressure Equipment Bop Valves & Manifolds Other P&Fc Rental Equipment
5.2.3 Fishing Equipment
5.2.4 Other Rental Oilfield Equipment
6 Oilfield Equipment Rental Market, By Geography (Page No. - 91)
6.1 Introduction
6.2 Oer: Market Analysis
6.2.1 North America To Drive Global Oer Market
6.2.2 North America Increased Production Driving The Oer Market Rising Oilfield Spending Fueling Market Growth U.S. Is The Largest Oer Market U.S. Oer Market Driven By Rising Consumption U.S. Market Is Experiencing High Growth Canada Canada Has Significant Unconventional Reserves Unconventional Oil To Fuel The Future Growth In Canada
6.2.3 Asia-Pacific Rising Consumption Fueling E&P Activities Increased Drilling Activity Is The Prime Driver Of Asia-Pacific Market Chinese Market Is The Leader In Oilfield Equipment Rental China Consumption Is Driving E&P Growth Drilling Equipment Are The Most Rented In China Australia Australia Has Huge Gas Reserves Gas Exploration Increasing Drilling Activities Malaysia Offshore Production Is Higher In Malaysia Increased Investment Acting As Growth Driver India India Focusing On More Domestic Production Oilfield Spending Is The Major Driver For Indian Market Indonesia Private Players Fueling E&P Growth In Indonesia More Drilling Equipment Are Rented In Indonesia Rest Of Asia-Pacific Emerging Economies Driving Growth Rest Of Asia-Pacific Experiencing Significant Market Growth
6.2.4 Europe & Eurasia Europe Holds Third Place Globally In Terms Of Reserves Drilling Equipment Are The Most Rented In Europe Russian Federation In The Biggest Oer Market In Europe Russian Federation Russian Economy Driven By Energy Exports Rising Production Increasing Oer Market In Russia Norway Norway Has Significant Offshore Reserves Drilling Equipment Hold Major Share In Norway U.K. Fields In U.K. Are Maturing Maturing Fields In U.K. Favoring More Renting Kazakhstan Huge Reserve Potential In Kazakhstan Oer Market In Kazakhstan Is Fuelled By E&P Activities Rest Of Europe & Eurasia Considerable Reserves Exist In Europe Rest Of Europe& Eurasia Has Huge Growth Prospect
6.2.5 Africa Africa Has Substantial Offshore Production Market Scenario In African Favors Renting Angola Is The Emerging Market In Africa Angola Angola Has Huge Untapped Resources Lack Of Infrastructure Favors Renting In Angola Nigeria Nigeria Is A Major Producers Of Oil In Africa Offshore Drilling Driving Market Growth Algeria Algeria Is Ramping Up Production Drilling Activities Are On Rise In Algeria Egypt Egyptian Production Is Increasing Again Egypt Is Growing Slowly At Present Rest Of Africa Production Is Rising In Rest Of Africa Better Growth Will Be Experienced In Future
6.2.6 Latin America Latin America Has Sizeable Oil & Gas Reserves Drilling Equipment Are Experiencing Rampant Growth In Latin America Brazil Dominates The Latin American Market Brazil Major Offshore Activity In Brazil Rising Demand Fueling Growth Mexico Mexico Is A Net Oil Exporter Oer Market Driven By Drilling Equipment In Mexico Venezuela Venezuela Is An Important Player In The Global Oil Market Significant Growth Will Be Experienced In Venezuela Rest Of Latin America Rest Of Latin America Has Sizeable Reserves Steady Growth Will Be Experienced In The Future
6.2.7 Middle East Middle East Has The Largest Oilfield Reserves Middle East Has A Relatively Stable Oer Market Middle Eastern Market Is Dominated By Iraq Iraq Huge Potential Waiting To Be Unlocked In Iraq Iraq Will Experience Enormous Growth Saudi Arabia Largest Producer Of Crude Oil Is Saudi Arabia Fishing Equipment Will Experience Highest Growth Iran Iranian Production Will Decline More In Future Geopolitics Is Hampering Market Growth In Iran Rest Of Middle East Production Is Rising In Middle East Better Growth Will Be Experienced In Future
7 Competitive Landscape (Page No. - 179)
7.1 Company Analysis
7.1.1 Company Presence, By Equipment
7.1.2 Company Presence, By Geography
7.1.3 Market Share Analysis
7.2 Strategic Developments
7.2.1 Mergers & Acquisitions: Most Popular Growth Strategy
7.2.2 Supply Contract
7.2.3 Expansion
7.2.4 New Products Launch/Developments
7.2.5 Others
8 Company Profiles (Overview, Financials, Products & Services, Strategy, And Developments)* (Page No. - 212)
8.1 Aos Orwell Limited
8.2 Basic Energy Services Inc.
8.3 Chesapeake Oilfield Services Llc
8.4 Cor International Llc
8.5 Fmc Technologies
8.6 Greenes Energy Group
8.7 Halliburton Co.
8.8 Independent Oil Tools As
8.9 Iroc Energy Services Corp.
8.10 Key Energy Services
8.11 Knight Oil Tools Inc.
8.12 Oil States International Inc.
8.13 Parker Drilling Co.
8.14 Precision Drilling Corporation
8.15 Rpc Inc.
8.16 Savanna Energy Services Corp.
8.17 Schlumberger Limited
8.18 Superior Energy Services Inc.
8.19 Tasman Oil Tools
8.20 Weatherford International Ltd
*Details On Financials Might Not Be Captured In Case Of Unlisted Companies.

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