Market Size of Middle-East Oilfield Services Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 5.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Middle East Oilfield Services Market Analysis
The Middle East oilfield services market is projected to register a CAGR of over 5.5% during the forecast period.
COVID-19 negatively impacted the market in 2020. Presently, the market has reached pre-pandemic levels.
Over the medium term, the rising investments aimed at increasing production capacity are expected to increase the demand for the Middle East oilfield services market.
On the other hand, the increasing adaptation of renewable energy sources such as solar and wind energy is expected to hinder market growth.
Nevertheless, the increasing technological investments in the market to develop more efficient oil production and drilling processes are expected to create huge opportunities for the Middle-East oilfield services market.
Saudi Arabia is expected to dominate the market during the forecasted period due to the country's significant amount of proven oil and gas reserves.
