Quick Overview of the Saudi Arabia Oilfield Equipment Rental Market Analysis

The  Saudi Arabia Oilfield Equipment Rental Market Analysis, research report provides an in-depth market study with qualitative and quantitative research of the continuing industry trends, opportunities, growth areas, drivers, and challenges, which would enable stakeholders to align their market strategies according to the present & future market dynamics.

Detailed Analysis of Saudi Arabia Oilfield Equipment Rental Industry (2022-27): Reveals Further Growth &Market Expansion

According to the most recent study, the Saudi Arabia Oilfield Equipment Rental market is projected to grow at a CAGR of around 8% during the forecast period, i.e., 2022-27. The report significantly addressed considerable changes, gap analyses, and competitive studies using qualitative and quantitative data. These include the widespread segmentation, regional landscape, and recent developments, entailing information on the fluctuation in the demand, sales, revenue, and other parameters experienced and expected in the industry for the forecasting year i.e. 2022-27.

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Possible Restraint: Maintenance of Oilfield Equipment Rental on Offshore Platform

The burden of maintaining oilfield equipment over offshore platforms has posed a challenge for the Saudi Arabia Oilfield Equipment Rental market. The equipment, including drill pipes, drill collars, pressure & flow control equipment, etc., require perpetual greasing, polishing, rust-coating, & other maintenances to keep it running smoothly. Therefore, the high cost of maintaining the sizeable fleet of oilfield equipment when the equipment is not in use becomes an additional cost burden for the rental companies to incur.

Saudi Arabia Oilfield Equipment Rental Market Segmentation Analysis

-By Type

• Drilling Equipment
• Pressure & Flow Control Equipment
• Fishing Equipment
• Others (Casing Clean-out, etc.)

-By Location

• Onshore
• Offshore

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Key Players and Competitive Strategies in the Saudi Arabia Oilfield Equipment Rental Market

The report provides a study that looks at the requirements for manufacturing and processing, project expenses, finance, and economics, as well as projected profit margins and returns on investment. This also helps in identifying the major market players in the market such as:

• Baker Hughes Company
• Parker Wellbore
• Schlumberger Middle East
• Superior Energy Services
• Seadrill Ltd.
• Weatherford International PLC
• Nabors Industries Ltd.
• Certified Oilfield Rentals LLC (COR Middle East)
• Great Valve General Contracting (GVGC)
• Rawabi Oil & Gas (ROG)
• Others

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Recent Developments by the Government or Leading Companies

• In 2021, Saudi Aramco announced to develop, the Jafurah unconventional gas field, which is one of the largest non-associated gas fields in Saudi Arabia. The company aims to invest an estimated USD10 billion in subsurface & engineering, procurement, and construction (EPC) contracts, with capital expenditure in the gas field to reach around USD68 billion over the next 10 years of development.
• In 2019, Saudi Arabia's Ministry of Energy and Mineral Resources announced the discovery of large quantities of gas in the Red Sea. After this announcement, Saudi Aramco aims to intensify its investments in oil & natural gas exploration in the coming years.

Key Report Highlights

• Market Dimensions & Projections
• Pricing Evaluation,
• Recent Strategic Moves by Companies,
• Competitive Landscape Assessment,
• Emerging Opportunities,
• Market Trends and Indicators

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the globe?
4. How has the industry been evolving in terms of geography and product adoption?
5. How has the competition been shaping up across various regions?
6. How have buying behaviour, customer inclination, and expectations from product manufacturers been evolving during 2022-27?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

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