New Study from StrategyR Highlights a $20.6 Billion Global Market for Oilfield Equipment Rental by 2026

SAN FRANCISCO, Oct. 21, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Oilfield Equipment Rental - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

FACTS AT A GLANCE
Edition: 6; Released: April 2021
Executive Pool: 1132
Companies: 46 - Players covered include Basic Energy Services, Inc.; Bestway Oilfields & Gas Equip. LLC; Circle T Service & Rental Ltd.; Ensign Energy Services Inc.; Halliburton; John Energy Limited; Key Energy Services LLC; Kit Oil & Gas; Oil States International, Inc.; Parker Drilling Company; Schlumberger Ltd.; Superior Energy Services; TechnipFMC PLC; Weatherly International plc and Others.
Coverage: All major geographies and key segments
Segments: Application (Onshore, Offshore); Equipment (Drilling Equipment, Pressure & Flow Control Equipment, Fishing Equipment, Other Equipment)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-

Global Oilfield Equipment Rental Market to Reach $20.6 Billion by 2026
Amid the COVID-19 crisis, the global market for Oilfield Equipment Rental estimated at US$17.7 Billion in the year 2020, is projected to reach a revised size of US$20.6 Billion by 2026, growing at a CAGR of 2.5% over the analysis period. Drilling Equipment, one of the segments analyzed in the report, is projected to record a 2.3% CAGR and reach US$8.4 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Pressure & Flow Control Equipment segment is readjusted to a revised 3.2% CAGR for the next 7-year period.

The U.S. Market is Estimated at $4.9 Billion in 2021, While China is Forecast to Reach $4 Billion by 2026
The Oilfield Equipment Rental market in the U.S. is estimated at US$4.9 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$4 Billion by the year 2026 trailing a CAGR of 4.6% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.6% and 1.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.1% CAGR.

Fishing Equipment Segment to Reach US$3.9 Billion by the year 2026
In the global Fishing Equipment segment, USA, Canada, Japan, China and Europe will drive the 1.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$2.6 Billion in the year 2020 will reach a projected size of US$2.9 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More

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About Global Industry Analysts, Inc. & StrategyRtm
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]

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SOURCE Global Industry Analysts, Inc.