Market Size of Malaysia Oilfield Services Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 1.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Malaysia Oilfield Services Market Analysis
The Malaysia oilfield services market is expected to grow at a CAGR of more than 1% over the period of 2020-2025. Factors such as increasing production of crude oil and natural gas from conventional resources, requirement for critical offshore expertise and increase in demand for advanced technologies are expected to drive the market. However, volatility in crude oil and natural gas prices may restrain the growth of the market.
- Rising investments in the sector are expected to aid the growth of the market and is expected to act as a driver for the market in the forecast period. Investments are being made in the exploration and production of natural gas in the offshore location.
- New development in the oilfield services, like the advancements in the high-end self-adaptive inflow control completion technology, is expected to make the oil and gas production more viable and may provide an opportunity for market players.
- The completion services segment is expected to witness significant in the forecast period. Increasing investment and advancement in technology are expected to aid the growth of the market.
