NAICS Code 532412-07 - Oil Well Equipment & Supplies-Renting

Marketing Level - NAICS 8-Digit

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NAICS Code 532412-07 Description (8-Digit)

Oil Well Equipment & Supplies-Renting is a subdivision of the Construction, Mining, and Forestry Machinery and Equipment Rental and Leasing industry. This industry involves renting out specialized equipment and supplies used in the exploration, drilling, and production of oil and gas. Companies in this industry provide a range of equipment and supplies to oil and gas companies, including drilling rigs, pumps, valves, pipes, and other specialized tools.

Parent Code - Official US Census

Official 6‑digit NAICS codes serve as the parent classification used for government registrations and documentation. The marketing-level 8‑digit codes act as child extensions of these official classifications, providing refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader context of the industry environment. For further details on the official classification for this industry, please visit the U.S. Census Bureau NAICS Code 532412 page

Tools

Tools commonly used in the Oil Well Equipment & Supplies-Renting industry for day-to-day tasks and operations.

  • Drill Bits
  • Casing Running Tools
  • Cementing Equipment
  • Completion Tools
  • Fishing Tools
  • Wellhead Equipment
  • Pumps
  • Valves
  • Pipes
  • Tubing

Industry Examples of Oil Well Equipment & Supplies-Renting

Common products and services typical of NAICS Code 532412-07, illustrating the main business activities and contributions to the market.

  • Drilling Rigs
  • Mud Pumps
  • Blowout Preventers
  • Coiled Tubing Units
  • Frac Tanks
  • Cementing Units
  • Wireline Units
  • Well Testing Equipment
  • Artificial Lift Systems
  • Hydraulic Power Units

History

A concise historical narrative of NAICS Code 532412-07 covering global milestones and recent developments within the United States.

  • The "Oil Well Equipment & Supplies-Renting" industry has a long history dating back to the early 20th century when the first oil wells were drilled in the United States. In the early days, oil well equipment was rented out to oil companies on an as-needed basis. As the industry grew, so did the demand for specialized equipment, leading to the creation of dedicated rental companies. In recent years, the industry has seen significant growth due to the expansion of shale oil and gas drilling in the United States. This has led to an increase in demand for specialized equipment and services, such as hydraulic fracturing and horizontal drilling. Notable advancements in the industry include the development of more efficient drilling techniques, the use of advanced sensors and monitoring systems, and the adoption of automation technologies to improve safety and efficiency.