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Analysis of the North American Rental Market in the Oil and Gas Industry

  • September 2013
  • 63 pages
  • Frost & Sullivan
Report ID: 1639987

Summary

Table of Contents

Shale Exploration and Production Activities Drive Demand

This study details the driving and restraining factors that are expected to impact the North American oil and gas equipment rental market during the forecast period (2013–2017). The rental market is one of the most competitive markets in North America. With all the market participants’ products serving the same purpose in terms of applications, gaining market share is highly competitive. Implications of market dynamics and industry challenges on market growth are analyzed. Furthermore, the study discusses current issues including revenue forecasts, rental equipment trends, market trends, and competition prevailing in the North American oil and gas rental market. The study is segmented as conventional, unconventional, and offshore.

Executive Summary

• The North American rental market in the oil and gas (O&G) industry was valued at $X billion in 2012 with a growth rate of X% over 2011.
• The market is forecasted to grow at a compound annual growth rate (CAGR) of X% between 2012 and 2017 as a result of growth in the O&G industry.
• The degree of competitiveness is increasing as market participants try to get a stronger foothold.
• The volatile nature of oil prices and developments in unconventional resources, including shale and oil sands, are key driving factors for the market.
• Economic slowdown hinders market growth in the short term.
• The unconventional segment is expected to grow more than any other segment within the upstream O&G industry. Such strong growth is mainly attributed to technological developments in shale exploration.
• The rental market is one of the most competitive markets in North America. With all the market participants’ products serving the same purpose in terms of applications, gaining market share is highly competitive.

CEO’s Perspective

1. A move from providing individual products to complete rental solutions will present a competitive edge.
2. Identifying potential regions in certain segments, such as unconventional resources including shale basins, will widen the customer base.
3. A trend toward identifying potential rental markets outside of North America will benefit participants.
4. Declining prices and increasing competition drive the market forward.

Market Definitions

Geographic Coverage: North America
Study Period: 2009–2017
Base Year: 2012
Forecast Period: 2013–2017
Monetary Unit: US dollars

Product Segments
Upstream
• Conventional
• Unconventional (includes shale, oil sands)
• Offshore

The study includes the following products:
Aerial
Aerial products include bucket trucks, man lifts, personnel lifts, and platform lifts.
Earth Moving
Earth moving products include back hoe, dozers, excavators, loaders, road graders, tractors, trucks, trenchers and track machines.
Electrical
Electrical products include all the breakers, drills, saws, lighting, power generators, pumps, arrow boards, vacuums, and sanders.
General Material Handling
General material handling products include hoists, industrial fork lifts, and cranes.

Key Questions This Study Will Answer

• Is the market growing and at what rate? What is the anticipated growth between 2013 and 2017?
• Are the existing competitors structured correctly to meet customer needs?
• Will the structure of the market change with time?
• Is there any development with the products/services offered today?
• Are the rental participants in the space ready to go it alone, or do they need partnerships to take their businesses to the next level?

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