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.
|
Attribute
|
Details
|
|
Base Year
|
2021
|
|
Historical Data
|
2017 – 2020
|
|
Estimated Year
|
2022
|
|
Forecast Period
|
2023 – 2027
|
|
Quantitative Units
|
Revenue in USD Million, Volume in Units and CAGR for 2017-2021
and 2022E-2027F
|
|
Report coverage
|
Revenue forecast, volume forecast, company share, competitive
landscape, growth factors, and trends
|
|
Segments covered
|
·
Deployment
·
Service
|
|
Regional scope
|
Western Region, Northern and Central Region, Eastern Region,
Southern Region
|
|
Key companies profiled
|
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.
|
|
Customization scope
|
10% free report customization with purchase. Addition or
alteration to country, regional & segment scope.
|
|
Pricing and purchase options
|
Avail customized purchase options to meet your exact research
needs. Explore purchase
options
|
|
Delivery Format
|
PDF and Excel through Email
(We can also provide the editable version of the report in PPT/Word format on
special request)
|
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]