Market Size of Middle East And Africa Drill Collar Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 286.13 Million |
| Market Size (2029) | USD 342.11 Million |
| CAGR (2024 - 2029) | 3.67 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Middle East And Africa Drill Collar Market Analysis
The Middle East And Africa Drill Collar Market size is estimated at USD 286.13 million in 2024, and is expected to reach USD 342.11 million by 2029, growing at a CAGR of 3.67% during the forecast period (2024-2029).
- Over the medium term, rising investments in the upstream sector aimed at increasing production capacity to maximize profits during the current high-price environment are expected to drive the market during the forecast period.
- On the other hand, the rising adoption of renewable energy across the globe and these regions is expected to curtail the demand for hydrocarbons in the region, restraining the market during the forecast period.
- Nevertheless, the development of smaller complex offshore gas fields remains in the Mediterranean, and the Red Sea remains a significant growth opportunity for the market during the forecast period.
- Saudi Arabia dominates the market and will likely register the highest CAGR during the forecast period. With the growing oil and gas production during the forecast period.
