Market Size of Middle East And North Africa Perforating Gun Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 270.37 Million |
| Market Size (2029) | USD 348.37 Million |
| CAGR (2024 - 2029) | 5.20 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Middle East And North Africa Perforating Gun Market Analysis
The Middle East And North Africa Perforating Gun Market size is estimated at USD 270.37 million in 2024, and is expected to reach USD 348.37 million by 2029, growing at a CAGR of 5.20% during the forecast period (2024-2029).
- Over the medium period, the rise in oil and gas drilling activities across the Middle East and North Africa, including Saudi Arabia, the United Arab Emirates, Algeria, and Egypt, and increased shale gas exploration are expected to drive the perforating gun market during the forecast period.
- On the other note, renewable energy is likely to increase its share and contribute to around 50% of power in the MENA region in the next few decades. This is expected to restrain the perforating gun market in the coming years.
- Nevertheless, the discovery of new oil and gas fields, particularly in Shadoon, Shehab, Shorfa, Umm Khansir, and Samna in the Middle East, and the reperforation of old wells are expected to provide opportunities for the perforation gun market.
- Saudi Arabia is one of the largest markets for perforating guns due to increased exploration and production activities in its tight oil and shale reserves.
