Market Size of Middle East And North Africa Oilfield Services Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Middle East And North Africa Oilfield Services Market Analysis
The Middle East and North Africa Oilfield Services market is estimated to be at USD 31.69 Billion by the end of this year and is projected to reach USD 41.73 billion in the next five years, registering a CAGR of over 5.66% during the forecast period.
- In the long 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.
- Nevertheless, 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.
