Oil field Equipment Rental Services Market

1. Oil field Equipment Rental Services Market - Europe Industry Analysis, Growth, Share, Size, Trends, and Forecast TheEurope oilfield equipment rental services market size is anticipated to expand at a substantial CAGR during the forecast period, 2021–2028. Growth of the market is attributed to rising exploration, production activities, and natural gas demand. The equipment used to extract oil and gas from a reservoir is known as oilfield equipment. Oilfield operators rent or lease their equipment to save money on capital expenditures. Oilfield equipment leasing is a rapidly increasing sector due to rising energy demand. Oilfield equipment rental is the service of renting equipment for the extraction and drilling of oilfields for a certain length of time. Drilling wells into the ground and extracting crude oil need sophisticated technology in oilfields. Drilling, pressure and flow equipment, pumps and valves, tubes, drill bits, wireline tools, blowout preventers (BOP), artificial lift systems, and mud pumps are some of the main oilfield equipment available for hire. In compared to typical oilfield equipment purchases, renting is thought to be more cost-effective since it requires less acquisition and maintenance. The Covid-19 pandemic affected the demand and supply of Europe oilfield equipment rental services market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period. Market Trends, Drivers, Restraints, and Opportunities  Increasing demand for crude oil and natural gas for energy and electricity needs are estimated to fuel the market during the forecast period.

2.  Fluctuating oil and gas prices have created uncertainty among oil and gas operators are estimated to hamper the market growth. Lack of skilled labor act as major challenge that can restrict the market expansion in the coming years. Technological advancements in the deep water and ultra-deep water drilling activities are anticipated to create lucrative opportunities for the market players.   Sample - https://growthmarketreports.com/request-sample/1189 Market Segment Insights The fixed fluoroscopy segment is projected to account for a large market share Based on device types, the Europe fluoroscopy market is bifurcated into fixed fluoroscopy and mobile fluoroscopy. Mobile fluoroscopy is further segmented into mini fluoroscopes and full-size fluoroscopes. The fixed fluoroscopy segment is expected to represent a key share of the market during the forecast period owing to increasing demand as it is used in designated rooms for studies including endoscopy of the gastrointestinal, catheterization of blood vessels, and barium studies. Norway is anticipated to dominate the market On the basis of geography, the Europe oilfield equipment rental services market is classified as United Kingdom, Norway, Denmark, and Rest of Europe. The market of Norway is anticipated to expand at a high CAGR during the forecast period. Norway's oil and gas industry has regained its footing. For the first time since 2014, oil firms raised their investment in 2018. There were 85 finds as of December 31, 2018, for which the licensees have yet to submit a PDO to the government. In 2018, total investment necessary to develop the whole portfolio is projected to be over NOK 400 billion. Norway dug more wells than ever in 2019, with about 130 wells sunk, 55 of which were exploratory wells to compensate for the country's falling oil and gas output. In comparison to 2018, the number of drilled wells increased by 16 percent. Inquiry- https://growthmarketreports.com/enquiry-before-buying/1189 Competitive Landscape Key players competing in the Europe oilfield equipment rental services market include Weatherford International PLC, Baker Hughes Company, Transocean Ltd, Schlumberger Limited, and Seadrill Ltd. Some of these players are using several business strategies including mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares. About Growth Market Reports: GMR provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Industry Intelligence Solutions”. GMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. Our key analysis segments, though not restricted to the same, include market entry strategies, market size estimations, market trend analysis, market

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