Saudi Arabia Oil Drilling Market, By Deployment (Offshore, Onshore), By Service (Contract, Drilling, Logging While Drilling, Measurement While Drilling, Directional Drilling), By Equipment Type (Drilling Equipment, Production Equipment, Pumps & Valves, Others), By Region, Competition Forecast & Opportunities, 2027
Saudi Arabia oil drilling market is expected to grow at a formidable rate during the forecast period.The market growth can be attributed to the increasing investments for oil exploration and production activities to meet the growing demand for hydrocarbons across the world.
Saudi Arabia is one of the world’s largest oil exporter, accounting for 12% of the global oil production (as of 2021).The skyrocketing demand for oil due to rapid industrialization in both developed and developing countries are creating need for more oil drilling activities, which is expected to fuel the growth of Saudi Arabia oil drilling market in the coming years.
Besides, rising interest in deepwater & ultra-deepwater exploration and maturing of onshore oilfields are contributing to the growth of Saudi Arabia oil drilling market.Companies involved in oil drilling are trying to capitalize on scale and improve their operational efficiencies, which is further expected to propel the growth of oil drilling market in Saudi Arabia.
Over the years, hydrocarbons have been extensively used for power generation, etc. on account of globalization, urbanization, and economic development. Introduction of scheme to manage and maintain the legal guidelines for both onshore and offshore oil drilling activities and extended research to make the procedure sustainable, cost-effective, and feasible are some of the factors expected to support the growth of Saudi Arabia oil drilling market in the coming years.
The Saudi Arabia oil drilling market is segmented by deployment, service, equipment type, regional distribution, and competitional landscape.Based on deployment, the market is further bifurcated into offshore and onshore oil drilling.
Onshore oil drilling is expected to dominate the market in the upcoming five years due to the threats associated with offshore drilling such as oil spills and increased investments by oil companies in this segment.
Valaris plc, National-Oilwell Varco Inc., Noble Corporation plc, Saipem S.p.A., Arabian Drilling Company, ADES International Holding PLC, Shelf Drilling Holdings, Ltd., Saudi Arabian Oil Company, Weatherford Energy Services Saudi Arabia Co. Ltd, Burgan Drilling Company, among others are some of the major players operating in the Saudi Arabia oil drilling market.
Years considered for this report:
Historical Years: 2017-2020
Base Year: 2021
Estimated Year: 2022E
Forecast Period: 2023F–2027F
Objective of the Study:
• To analyze the historical growth in the market size of Saudi Arabia oil drilling market from 2017 to 2021.
• To estimate and forecast the market size of Saudi Arabia oil drilling market from 2022E to 2027F and growth rate until 2027F.
• To classify and forecast Saudi Arabia oil drilling market based on deployment, services, equipment type, competitional landscape, and regional distribution.
• To identify dominant region or segment in the Saudi Arabia oil drilling market.
• To identify drivers and challenges for Saudi Arabia oil drilling market.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., in Saudi Arabia oil drilling market.
• To identify and analyze the profile of leading players operating in Saudi Arabia oil drilling market.
• To identify key sustainable strategies adopted by market players in Saudi Arabia oil drilling market.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of companies across the country.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the companies which could not be identified due to the limitations of secondary research. The analyst examined the oil drilling equipment companies, distribution channels and presence of all major players across the country.
The analyst calculated the market size of Saudi Arabia oil drilling market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these services for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Oil drilling companies, and other stakeholders
• distributors and suppliers of oil drilling equipment and other stakeholders
• Organizations, forums, government authorities, and alliances related to oil drilling
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as oil producers, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, Saudi Arabia oil drilling market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Saudi Arabia Oil Drilling Market, By Deployment:
• Saudi Arabia Oil Drilling Market, By Service:
o Logging While Drilling
o Measurement While Drilling
o Directional Drilling
• Saudi Arabia Oil Drilling Market, By Equipment Type:
o Drilling Equipment
o Production Equipment
o Pumps & Valves
• Saudi Arabia Oil Drilling Market, By Region:
o Northern & Central
Company Profiles: Detailed analysis of the major companies present in Saudi Arabia Oil Drilling market.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).