Saudi Arabia Oil Drilling Market By Deployment (Offshore, Onshore) By Service (Contract, Drilling, Logging While Drilling, Measurement While Drilling, Directional Drilling) By Equipment Type (Drilling Equipment, Production Equipment, Pumps & Valves, Others) By Region, Competition Forecast & Opportunities, 2027

Saudi Arabia oil drilling market is projected to show a robust growth with an impressive CAGR in the forecast years, 2023-2027. The market growth attributes to the surge in the demand from the countries benefitting the oil supplies from the country. Moreover, surge in the private and commercial vehicles worldwide is driving the growth of the Saudi Arabia oil drilling market in the upcoming five years. Also, the technological advancements in the country and their support to the technological advances globally, the market is bound to experience growth in the subsequent five years. Government authorities have regulatory bodies and schemes to manage and maintain the legal guidelines for offshore and onshore oil drilling processes and production along with the distribution and supply of the oil as well as the by produced gases thereby supporting the growth of the market in the next five years. Furthermore, oil drilling equipment industry is flourishing with the surging demand for oil & gas. The advancing technology and extended research have made it feasible and cost effective oil drilling equipment that are further supporting the growth of the Saudi Arabia oil drilling market in the next five years.

The Saudi Arabia oil drilling market is segmented by deployment, service, equipment type, regional distribution, and competitional landscape. Based on deployment, the market is further bifurcated into offshore and onshore oil drilling. Onshore oil drilling market is anticipated to hold the larger share of the market and assert its dominance in the upcoming five years. The market segment growth can be understood by driving factors like advantages over the offshore drilling. The offshore drilling is often accompanied with the threats of oil spills, and thus the further causing long term effects on the oceanic environment. The marine ecosystem gets affected and marine pollution increases. Offshore oil drilling bypasses such concerns. Though excavation and drilling on the land may come with land pollution and requirement of large area for the setups of the drilling equipment that might slow down that growth graph a little. Though, the rising demand of oil and by producing gases would still sustain the growth in the market in upcoming five years.

A partial list of market player in the Saudi Arabia oil drilling market includes Valaris plc, National-Oilwell Varco Inc., Noble Corporation plc, Saipem S.p.A., Arabian Drilling Company, ADES International Holding PLC, Shelf Drilling Holdings, Ltd., Saudi Arabian Oil Company, Weatherford Energy Services Saudi Arabia Co. Ltd, Burgan Drilling Company, among others. These market players hold larger shares of the market than the new market players. With the evolving technology, it is appropriate to say that the effective research and development of the technologically advanced equipment, and services would support the market growth and benefit the market players as well as the consumers. New market players may focus on the research and development to provide equipment that satisfies the suppliers’ demand as well as benefits the market players in building their brand value. Other competitive strategies include mergers & acquisitions and new product developments.

Objective of the Study:

• To analyze the historical growth of the market size of Saudi Arabia oil drilling market from 2017 to 2020.
• To estimate and forecast the market size of Saudi Arabia oil drilling market from 2021 to 2027 and growth rate until 2027. 
• To classify and forecast Saudi Arabia oil drilling market based on deployment, services, equipment type, competitional landscape, and regional distribution.
• To identify dominant region or segment in the Saudi Arabia oil drilling market.
• To identify drivers and challenges for Saudi Arabia oil drilling market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Saudi Arabia oil drilling market.
• To identify and analyze the profile of leading players operating in Saudi Arabia oil drilling market.
• To identify key sustainable strategies adopted by market players in Saudi Arabia oil drilling market.

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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of government authorities, producers, suppliers, and service providers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the producers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the oil drilling equipment manufacturers, producers, suppliers, distribution channels and presence of all major players across the country.

TechSci Research calculated the market size of Saudi Arabia oil drilling market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:

• Oil drilling equipment manufacturers, end users, service providers, and other stakeholders
• Producers, distributers and suppliers of the products and other stakeholders
• Organizations, forums, government authorities, and alliances related to oil drilling
• Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as oil producers, equipment manufacturers, suppliers, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, Saudi Arabia oil drilling market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• Saudi Arabia Oil Drilling Market, By Deployment:

o   Offshore

o   Onshore

• Saudi Arabia Oil Drilling Market, By Service:
• Contract
• Drilling
• Logging While Drilling
• Measurement While Drilling
• Directional Drilling
• Saudi Arabia Oil Drilling Market, By Region:
• Drilling Equipment
• Production Equipment
• Pumps & Valves
• Others
• Saudi Arabia Oil Drilling Market, By Region:
• Western
• Eastern
• Northern & Central
• Southern

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Saudi Arabia Oil Drilling market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

Saudi Arabia Oil Drilling Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]