Market Reports on Saudi Arabia Provides the Trending Market Research Report on “Saudi Arabia Oil Field Equipment Rental Market By Type (Drilling Equipment {Drill Pipe, Drill Collars, Drill Bit, Others}, Pressure & Flow Control Equipment, Fishing Equipment, Others), By Location (Onshore, Offshore), By Region, Competition, Forecast & Opportunities, 2027” under Energy Market Research Reports category. The Oil Field Equipment Rental Market Database in Saudi Arabia is projected to exhibit highest growth rate over report offers a collection of superior market research, market analysis, and competitive intelligence and industry reports.

Saudi Arabia Oil Field Equipment Rental Market is projected to witness growth at a significant CAGR during the forecast period, 2023-2027. The market growth can be attributed to the increasing oilfield explorations in the country. Saudi Arabia constitutes 17% of the global petroleum reserves, which accounts for 50% of the country's GDP and 70% of export business. Hence, developments in the ever-expanding industry are creating a high demand for oil field equipment, which is expected to drive market growth in the coming years.

Saudi Arabia's oil industry is quickly increasing and accounts for more than half of the country's income. Growing demand for oil and petroleum products, as well as globalization, will be important factors driving the expansion of the Saudi Arabia oil field equipment rental industry during the next five years. With the increase in demand, more excavation and oil extraction from reserves are increasing, which aids the demand for tools, equipment, and machinery, consequently boosting the expansion of the Saudi Arabia oil field equipment rental market over the next five years.

The current consumption trend ensures that the country's active reserves will survive for more than 200 years. Growing excavation necessitates technologically advanced equipment and tools, which will be essential in expanding the Saudi Arabia oil field equipment rental market during the next five years.

Market participants are focused on research and technology advances in oil field equipment, which will assist the expansion of the Saudi Arabia oil field equipment rental market during the next five years. In recent years, active market participants have strategically moved their attention to unconventional and deeper hydrocarbon sources. Oil extraction has recently turned toward shale gas and coal. Horizontal drilling and hydraulic fracturing are advanced technologies aiding the opening of shale oil and gas formations. The horizontal component of the oil rig count has increased significantly, which is expected to boost the growth of the Saudi Arabia oil field equipment rental industry during the next five years.

The Saudi Arabia oil field equipment rental market is segmented on the basis of type, location, competitional landscape, and regional distribution. Based on location, the market is divided between onshore and offshore. The onshore locations segment is anticipated to dominate the market during the forecast period due to increasing demands for drilling equipment in the onshore locations.
Major players operating in the Saudi Arabia oil field equipment rental market are Halliburton Company, Schlumberger N.V. (Schlumberger Limited), Chesapeake Energy Corporation, Weatherford International public limited company, Precision Drilling Corporation, Parker Drilling Company, Superior Energy Services Inc., Oil State International Inc., Basic Energy Services Inc., FMC Technologies, Inc., among others.

Years considered for this report:
Historical Years: 2017-2020
Base Year: 2021
Estimated Year: 2022
Forecast Period: 2023–2027

Objective of the Study:
•To analyze the historical growth in the market size of the Saudi Arabia oil field equipment rental market from 2017 to 2021.
•To estimate and forecast the market size of Saudi Arabia oil field equipment rental market from 2022 to 2027 and growth rate until 2027.
•To classify and forecast the Saudi Arabia oil field equipment rental market based on type, location, region, and company.
•To identify the dominant region or segment in the Saudi Arabia oil field equipment rental market.
•To identify drivers and challenges for the Saudi Arabia oil field equipment rental market.
•To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Saudi Arabia oil field equipment rental market.
•To identify and analyze the profiles of leading players operating in the Saudi Arabia oil field equipment rental market.
•To identify key sustainable strategies adopted by market players in Saudi Arabia oil field equipment rental market.

Key Target Audience:
•Market research and consulting firms
•Government bodies such as regulating authorities and policy makers
•Organizations, forums, and alliances
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as product manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:
In this report, Saudi Arabia oil field equipment rental market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
•Saudi Arabia Oil Field Equipment Rental Market, By Type:
Drilling Equipment
Drill Pipe
Drill Collars
Drill Bit
Others
Pressure & Flow Control Equipment
Fishing Equipment
Others
•Saudi Arabia Oil Field Equipment Rental Market, By Location:
Onshore
Offshore
•Saudi Arabia Oil Field Equipment Rental Market, By Region:
Northern & Central Region
Eastern Region
Southern Region
Western Region
Competitive Landscape

Browse our full report with Table of Contents:
https://marketreportsonsaudiarabia.com/report/763624/saudi-arabia-oil-field-equipment-rental-market-by-type-drilling-equipment-drill-pipe-drill-collars-drill-bit-others-pressure-flow-control-equipment-fishing-equipment-others-by-location-onshore-offshore-by-region-competition-forecast-opportunities

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