Middle East Oilfield Equipment Rental Market Worth $1,978 Million in 2019

The report “Middle East Oilfield Equipment Rental Market By Type (Drilling Equipment, Pressure & Flow Control Equipment, Fishing Equipment and Other Equipment), by Application (Onshore And Offshore) by Country Analysis and Forecast to 2019”, the Middle East Oilfield equipment rental market was valued at $1,618 million in 2014, and is expected to reach $1,978 million in 2019, at a CAGR of 4.1% from 2014 to 2019.

Browse through the TOC of the Middle East Oilfield Equipment Rental Market for an analysis of industry trends and segments, with the help of various tables and figures.

The growth of the Middle East oilfield equipment rental market is attributed to the technological advancements in the oilfield equipment segment. The traditional equipment are not fully capable of meeting the new challenges, hence the petroleum industry is looking out for advanced IT-based machinery and software to perform operations in various unconventional and deep reservoir conditions. The advanced drilling and completion technology, combined with factory-like, learning curve cost reductions, has supported the shale formation. There has been a huge leap in the horizontal component of the oil rig count. With the advent of new trends in the deep-water drilling in oil industry, despite of low output from shallow wells, the profits are huge.

In 2014, Iraq held the largest share of 31.4% of the Middle East oilfield equipment rental market. Iraq is also expected to be the fastest-growing region for the period 2014-2019.

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The Middle East Oilfield Equipment Rental market is highly driven by technological advancements in oilfield equipment. The types of equipment considered in this report include drilling equipment (drill pipe, drill collars, heavy- water, drill subs), pressure & flow control equipment (BOP, Valves & manifolds), fishing equipment & other equipment. The market has been analysed in terms of the major countries in Middle East, such as Iraq, Saudi Arabia, Iran, and others.

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