Market Size of Saudi Arabia Completion Equipment And Services Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 2.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Saudi Arabia Completion Equipment And Services Market Analysis
Saudi Arabia's completion equipment and services market is expected to register a CAGR of around 2.5% during the forecast period.
The market was negatively impacted by the outbreak of COVID-19 due to regional lockdowns and delays in ongoing and upcoming projects. Currently, the market has rebounded to pre-pandemic levels.
- Factors such as the development of shale gas reserves in Saudi Arabia are expected to drive the market.
- However, high volatility in crude oil prices is expected to hinder market growth during the study period.
- Increasing development work in the oil and gas offshore sector is expected to create opportunities for market players during the forecast period.
