Market Size of Middle-East Completion Equipment and 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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Middle-East Completion Equipment & Services Market Analysis
The Middle-East completion equipment and services market is expected to grow at a CAGR of more than 1% over the period of 2020-2025. Factors such as increasing production from conventional and unconventional resources and reducing maintenance costs of the well are expected to drive the market. However, volatility in crude oil and natural gas prices, leading to a decrease in exploration and production activities, may restrain the growth of the market.
- Crude oil and natural gas production are expected to continue to be a vital part of meeting global energy demand. The offshore segment is expected to be a significant sector in the forecast period.
- New development in the intelligent well completion technology, 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.
- Saudi Arabia is expected to be the largest market in the forecast period due to its abundant oil and gas production and increasing investment in the completion equipment and services market.
