Europe Oilfield Equipment Rental Services Market Size (2024 - 2029)

Europe Oilfield Equipment Rental Services Market Analysis

The Europe Oilfield Equipment Rental Services Market is expected to register a CAGR of over 3% during the forecast period.

• Over the medium term, Factors, such as increasing exploration and production activities due to increasing crude oil and natural gas demand, are likely to drive the European oilfield equipment rental services market during the forecast period.
• On the other hand, volatile oil and gas prices are leading to uncertainty among oil and gas operators, which is likely to restrain the growth of the Europe oilfield equipment rental services market in the coming years.
• However, advancements in deepwater and ultra-deepwater drilling activities in the region, like Norway and the United Kingdom, are expected to create ample opportunity for the market players in the coming years.
• Norway is expected to dominate the market, owing to the increased exploration activity in the country, to compensate for declining fields elsewhere.

Europe Oilfield Equipment Rental Services Industry Segmentation

Oilfield Equipment is used to extract crude oil or natural gas at a large scale from the ground. This equipment is often rented from specialized companies to minimize CAPEX and risk. 

The Europe Oilfield Equipment Rental Services Market is segmented by equipment and geography. By equipment, the market is segmented into drilling rigs, completion and workover rigs, drilling equipment, logging equipment, and other equipment. The report also covers the market size and forecasts for the oilfield equipment rental services market in major countries across the region. For each segment, the market sizing and forecasts have been done based on revenue (USD billion).