Global Oilfield Equipment Rental Market Size Study & Forecast, by Equipment (Drilling Equipment (Drill Pipe, Drill Collars, Hevi-Wate, and Subs), Pressure & Flow Control Equipment, and Fishing Equipment), by Application (Onshore and Offshore), and Regiona

The Global Oilfield Equipment Rental Market is valued at approximately USD 22.17 billion in 2024 and is projected to expand at a steady compound annual growth rate (CAGR) of around 3.87% over the forecast period 2025 to 2035. In a landscape where the dynamics of energy exploration are continuously evolving, oilfield equipment rentals offer a cost-efficient and scalable solution for operators aiming to optimize upstream performance. By outsourcing high-cost machinery, companies can mitigate CAPEX burdens while accelerating exploration and drilling timelines—especially in unpredictable market cycles. This shift toward asset-light operational models is gaining momentum, particularly among independent operators, due to its capital agility and minimized maintenance liabilities.

With drilling activity resurging across both established and emerging hydrocarbon regions, rental services for key equipment such as drill pipes, Hevi-Wate, subs, and pressure control systems are witnessing renewed traction. Drilling contractors and E&P firms are increasingly leaning on rental inventories to quickly mobilize operations, meet tight deadlines, and adapt to challenging well conditions without incurring the full cost of ownership. Furthermore, demand for highly specialized equipment capable of withstanding deepwater pressures and high-temperature conditions has grown significantly, particularly in offshore environments. Advancements in remote-controlled and automated equipment, as well as integrated digital monitoring technologies, are also reshaping rental offerings to enhance safety, uptime, and efficiency.

From a regional standpoint, North America remains a dominant force in the global oilfield equipment rental market, led by robust shale drilling activity in the United States and extensive infrastructure across the Permian, Bakken, and Eagle Ford basins. The region’s active rig count and technological superiority in directional drilling and hydraulic fracturing make it fertile ground for rental service expansion. Meanwhile, the Asia Pacific region is projected to register the fastest growth, driven by increased exploration budgets in countries like India, China, and Indonesia. Rising energy demand, offshore block auctions, and renewed interest in frontier basins are propelling the demand for flexible equipment access in this high-growth corridor. Europe, with its focus on mature field redevelopment and North Sea drilling, is also emerging as a stable contributor to the global market outlook.

Major market player included in this report are:
• Schlumberger Limited
• Baker Hughes Company
• Halliburton Company
• National Oilwell Varco
• Weatherford International
• Precision Drilling Corporation
• Superior Energy Services
• Ensign Energy Services
• Parker Drilling Company
• Seadrill Limited
• Oil States International
• Basic Energy Services
• Key Energy Services
• TechnipFMC plc
• Transocean Ltd.

Global Oilfield Equipment Rental Market Report Scope:
• Historical Data – 2023, 2024
• Base Year for Estimation – 2024
• Forecast period – 2025–2035
• Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
• Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within the countries involved in the study. The report also provides detailed information about crucial aspects, such as driving factors and challenges, which will define the future growth of the market. Additionally, it incorporates potential opportunities in micro-markets for stakeholders to invest, along with a detailed analysis of the competitive landscape and product offerings of key players.

The detailed segments and sub-segments of the market are explained below:

By Equipment:
• Drilling Equipment

 • Drill Pipe

 • Drill Collars

 • Hevi-Wate

 • Subs
• Pressure & Flow Control Equipment
• Fishing Equipment

By Application:
• Onshore
• Offshore

By Region:

North America
• U.S.
• Canada

Europe
• UK
• Germany
• France
• Spain
• Italy
• Rest of Europe

Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• Rest of Asia Pacific

Latin America
• Brazil
• Mexico

Middle East & Africa
• UAE
• Saudi Arabia
• South Africa
• Rest of Middle East & Africa

Key Takeaways:
• Market Estimates & Forecast for 10 years from 2025 to 2035.
• Annualized revenues and regional level analysis for each market segment.
• Detailed analysis of geographical landscape with Country level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of competitive structure of the market.
• Demand side and supply side analysis of the market.

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