1. Market Research
  2. > Energy & Environment
  3. > Energy
  4. > Oil and Gas Market Trends
  5. > Strategic View of the North American Equipment Rental Market in the Oil and Gas Industry

Strategic View of the North American Equipment Rental Market in the Oil and Gas Industry

  • September 2014
  • -
  • Frost & Sullivan
  • -
  • 59 pages

Summary

Table of Contents

Economic Efficiency and US Quest for Energy Independence Propels Growth

The North American region is a large consumer for the rental oil and gas industry. Technological advances, local energy policies, and environmental regulations ensure consistent growth in the oil and gas industry. This market insight covers the current state and future potential of the upstream, midstream, and downstream North American equipment rental market in the Oil and Gas industry. It presents the trends governing the value chain and their impact on the forecast period. The base year is 2013, while the forecast period is 2014 to 2018.

Key Findings
-Technological advancements and new legislation are driving the growth of the North American equipment rental market in the oil and gas industry.
-Technological advancements are expected to streamline operations and further enable cost reductions, driving the need for rental equipment.
-Local energy policies and environmental regulations are key to ensuring consistent growth in the oil and gas industry. Moreover, regulations play a critical role in influencing rental trends in the oil and gas value chain.
-Additionally, there is a general consensus that oil and gas prices are expected to drive increased spending by exploration and production (E&P) companies, thereby sustaining the demand for rental equipment.
-Developing unconventional liquid reserves and using enhanced oil recovery techniques for maturing wells are expected to boost supply.
-The North American petroleum and liquids’ production stood at million barrels per day in 2013, while the consumption for the same was million barrels per day during the same year.
-Production is projected to reach million barrels per day in 2018 at a compound annual growth rate (CAGR) of % between 2013 and 2018.
-On the other hand, consumption is projected to reach million barrels per day in 2018 at a CAGR of % from 2013 to 2018.
-The North American natural gas production stood at trillion cubic feet in 2013.
-With active involvement of the Environmental Protection Agency (EPA) in enforcing regulations, the demand for natural gas is expected to steadily increase in North America.
-Moreover, the regional natural gas consumption was trillion cubic feet in 2013 and is projected to reach trillion cubic feet in 2018 at a CAGR of % between 2013 and 2018.
-The rental market revenue in the upstream sector was estimated at $ million in 2013 at a growth rate of % as compared to 2012.
-Supply in North America continues to expand, thereby driving investments. However, the downstream sector is facing a decline in demand for refined products.
-The rental market revenue in the refinery sub-segment was estimated at $ million in 2013 at a growth rate of % as compared to 2012.
-Mature competitors in the rental oil and gas business have benefitted from new value chain strategies that have reduced operational costs, which is a clear competitive advantage.
-Additionally, niche competitors choose to prove their expertise in a core technology or a field.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 60 Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
Get This Report
24/7 Customer Support

Talk to Ahmad

+1 718 618 4302

Purchase Reports From Reputable Market Research Publishers
Analysis of Key Sectors of Malaysia: Agriculture, Manufacturing, Financial Services, Oil and Gas, ICT, Aviation, Wholesale and Retail, Tourism and Healthcare Along With Production and Consumption Data (2017 - 2022)

Analysis of Key Sectors of Malaysia: Agriculture, Manufacturing, Financial Services, Oil and Gas, ICT, Aviation, Wholesale and Retail, Tourism and Healthcare Along With Production and Consumption Data (2017 - 2022)

  • $ 6000
  • Industry report
  • February 2017
  • by Mordor Intelligence LLP

Malaysia is one of the few developing countries in the Asia pacific region which has used its abundant natural resources to grow sustainably. From being a major exporter of raw materials the country has ...

Analysis of Key Sectors of Angola: Agriculture, Dairy, Meat, Oil and Gas, Manufacturing and Mining Along With Production and Consumption Data (2017 - 2022)

Analysis of Key Sectors of Angola: Agriculture, Dairy, Meat, Oil and Gas, Manufacturing and Mining Along With Production and Consumption Data (2017 - 2022)

  • $ 6000
  • Industry report
  • February 2017
  • by Mordor Intelligence LLP

Angola is one of the fastest growing and most promising economies in Africa. Angola's high GDP growth is driven by high international oil prices. However, the worldwide slump in oil prices has affected ...

Leak Detection Market for Oil & Gas by Technology, and Region - Global Forecast to 2022

Leak Detection Market for Oil & Gas by Technology, and Region - Global Forecast to 2022

  • $ 5650
  • Industry report
  • February 2017
  • by MarketsandMarkets

“Leak detection market for oil and gas expected to grow at a significant rate between 2016 and 2022” The leak detection market for oil and gas was valued at 2.10 billion in 2015 and is expected to ...


Download Unlimited Documents from Trusted Public Sources

The future of the Natural Gas Industry

  • April 2017
    21 pages
  • Natural Gas  

    Energy  

  • Africa  

    Mozambique  

    Tanzania  

View report >

Oil And Gas Statistics in Ukraine

  • April 2017
    3 pages
  • Oil And Gas  

  • Ukraine  

View report >

Oil And Gas Statistics in Vietnam

  • April 2017
    31 pages
  • Oil And Gas  

  • Vietnam  

    United States  

    Asia  

View report >

Tourism Markets

1 day ago

Related Market Segments :

Oil And Gas

ref:plp2014

Reportlinker.com © Copyright 2017. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.