DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "China Oil Field Equipment Rental Services - Market Analysis by Equipment Type (Drilling Equipment, Pressure & Flow Control Equipment, Other Equipment), Competitive Landscape, Key Company Information - Growth Trends and Forecasts (2016 - 2021)" report to their offering.
Particularly driven by the demand for oil in the developing world which is expected to overtake that in industrialized countries in the coming future, majorly because by strong demand from China, India and other developing nations across Asia which continue to see strong economic growth. And then there is shale revolution which transformed the U.S. energy sector and is sweeping the world.
China has quickly risen to the top ranks in global energy demand over the past few years. China is the world's second-largest oil consumer behind the United States and became the largest global energy consumer in 2010.
Global oil field rental services market is now finding its feet as a fastest growing market, given the ever increasing energy demand, increasing shale activity and offshore exploration activities.
As in case with the other oil and gas industry segments, North America leads the oil field rentals market too, given the huge drilling activity in the region. As a result most of the companies operate in this region. In the past few years, sensing potential market growth in some regions such as Asia-Pacific and Africa, operators started widening their operations to these countries. The market is expected to grow, as the number of wells being drilled is increasing as a result of increased search activities for coal seam gas and shale gas and lucrative oil and gas prices.
North America, Asia-Pacific and Africa are expected to witness growth in the coming years as a result of increased exploration activities and shale boom. The top companies share almost 70-80 per cent of the market. So, most of the companies in this segment are relatively small. The drilling rental equipment markets occupy the major part of the market because of their wide usage.
Key Company Analysis
- Chesapeake Energy
- Superior Energy Services
- Precision Drilling Corp
- Parker Drilling
- FMC Technologies
- Oil State International
- AOS Orwell Ltd
- Basic Energy Services
- Knight Oil Tool Inc.
- Tasman Oil Tools Pty Ltd
- Western Energy Services
- Greenes Energy Group
For more information about this report visit http://www.researchandmarkets.com/research/5kcddz/china_oil_field