Middle East Wireline Services Market Size

Middle-East Wireless Services Market Analysis

The Middle-East wireline services market is expected to witness a CAGR of 2.62% during the forecast period. Due to the COVID-19 pandemic, the wireline services market was affected adversely as oil and gas exploration, and production processes were put on halt due to a lack of demand from end-users. Factors such as increasing demand for oil and natural gas and growing investments in the upstream oil and gas sectors across the region are expected to drive the number of exploration and production activities, thereby driving the wireline services market during the forecast period. As exploration and production costs are increasing, wire logging services become essential to optimize asset investment and reduce costs. However, the crude oil prices have been highly volatile between 2019 and 2022, fluctuating between USD 60 per barrel in 2019 and USD 25 per barrel by 2020, and about USD 92 barrel in February 2022. This volatility of oil prices remains a growing concern for the upstream industry. Hence, this is expected to hinder the market during the forecast period.

• The increasing exploration activities in the offshore region are expected to boost the demand for the wireline services market during the forecast period, thus making it a dominating segment.
• The shift of the projects from offshore to onshore, shallow waters to deep waters and ultra-deep waters is an opportunity for the wireline service providers to innovate and come up with products suitable and customized to the harsh climatic conditions of offshore basins.
• Saudi Arabia is expected to drive the wireline services market in the region, followed by United Arab Emirates (UAE), Iran, and others.