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Saudi Arabia Well Completion Equipment and Services Market Size, Forecast: By Type: Packers, Sand Control Tools, Multi-Stage Fracturing Tools, Liner Hangers, Smart Wells, Safety Valves, Others; By Location of Deployment: Onshore, Offshore; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2023-2028
Saudi Arabia Well Completion Equipment and Services Market Outlook
The Saudi Arabia well completion equipment and services market size is projected to grow at a CAGR of 4.5% between 2023 and 2028. The market is being aided by the rising oil production and evolving regulatory landscape in the country’s oil and gas sector.
Key Trends in the Market
Well-completion equipment and services encompass a range of tools, materials, and procedures employed to ready an oil or gas well for production following the completion of drilling. This phase has a series of steps to guarantee that the well is primed to extract hydrocarbons efficiently and securely.
- Saudi Arabia remains a global leader in oil production, and the sustained demand for hydrocarbons both domestically and internationally is a primary driver of Saudi Arabia well completion equipment and services market demand. The need to extract and process these resources efficiently drives continuous innovation in completion techniques.
- The evolving regulatory landscape in Saudi Arabia's oil and gas industry, driven by the increasing global focus on environmental sustainability, is a significant factor supporting the Saudi Arabia well completion equipment and services market growth. As the government prioritises sustainability in the oil and gas sector, there is an increasing need for advanced well-completion solutions that can enhance operational efficiency, while reducing environmental impact.
- Advanced technologies are being employed to enhance the efficiency of the completion process. The increasing integration of IoT (Internet of Things) and AI (Artificial Intelligence) technologies is one of the major Saudi Arabia well completion equipment and services market trends. These technologies are employed to enhance the efficiency of the completion process.
Market Analysis
Based on type, the market can be segmented into packers, sand control tools, multi-stage fracturing tools, liner hangers, smart wells, and safety valves, among others. The Saudi Arabia well completion equipment and services market segmentation, based on the location of deployment, includes onshore and offshore.
The comprehensive EMR report provides an in-depth assessment of the market based on Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the Saudi Arabia well completion equipment and services market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
- Schlumberger Limited
- Halliburton Energy Services Inc.
- Baker Hughes Company
- Weatherford International plc
- National-Oilwell Varco Inc.
- TAQA KSA
- Superior Energy Services Inc.
- Packers Plus Energy Services Inc.
- Welltec A/S
- Others
Market Share by Type
Multi-stage fracturing tools are likely to account for a significant portion of the Saudi Arabia well completion equipment and services market share in the forecast period. Multi-stage fracturing tools are integral to the hydraulic fracturing process. This technique is employed in the oil and gas industry to enhance the production of hydrocarbons from unconventional reservoirs like shale formations.
These tools help in extracting a greater volume of hydrocarbons from reservoirs by creating multiple fractures along the wellbore. By doing so, a larger surface area of the reservoir rock is exposed to the wellbore, increasing the potential for oil and gas recovery.
Market Share by Location of Deployment
According to the Saudi Arabia well completion equipment and services market analysis, increasing onshore activities significantly affects the growth of the market. The country is committed to onshore drilling due to its intention to stay as a global leader in the field of oil production. Moreover, a notable development that is expected to further propel the growth of onshore drilling activities is the emergence of onshore shale reserves.
Competitive Landscape
Schlumberger Limited, a multinational company specialising in oilfield services, is headquartered in Paris, France. It stands as one of the largest global entities in its field, offering an extensive array of services and cutting-edge technologies to the oil and gas industry. Established back in 1926, Schlumberger has developed a diverse range of solutions, spanning from reservoir analysis and drilling to production and processing within the oil and gas sector.
Halliburton Energy Services Inc. is a multinational corporation specialising in delivering a wide array of products and services to the energy sector, with a strong emphasis on the oil and gas industry. Founded in 1919, the company is headquartered in Houston, Texas, USA. Its comprehensive service portfolio encompasses drilling, evaluation, completion, and production of both oil and natural gas wells, solidifying its position as a prominent player in this industry.
Baker Hughes Company, commonly known as Baker Hughes, is a multinational industrial service company providing a range of services and solutions to the oil and gas industry. The company was founded in 1907 with its current headquarters located in Texas, USA. Since the company began operations, it has developed and offered a wide array of services and products for oil and gas exploration, drilling, production, and reservoir management.
Other Saudi Arabia well completion equipment and services market players are Weatherford International plc, National-Oilwell Varco Inc., TAQA KSA, Superior Energy Services Inc., Packers Plus Energy Services Inc., and Welltec A/S, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Location of Deployment |
|
| Market Dynamics |
|
| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Well Completion Equipment and Services Market Overview
8.1 Key Industry Highlights
8.2 Global Well Completion Equipment and Services Historical Market (2018-2022)
8.3 Global Well Completion Equipment and Services Market Forecast (2023-2028)
8.4 Global Well Completion Equipment and Services Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 Saudi Arabia Well Completion Equipment and Services Market Overview
9.1 Key Industry Highlights
9.2 Saudi Arabia Well Completion Equipment and Services Historical Market (2018-2022)
9.3 Saudi Arabia Well Completion Equipment and Services Market Forecast (2023-2028)
10 Saudi Arabia Well Completion Equipment and Services Market by Type
10.1 Packers
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Sand Control Tools
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 Multi-Stage Fracturing Tools
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Liner Hangers
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Smart Wells
10.5.1 Historical Trend (2018-2022)
10.5.2 Forecast Trend (2023-2028)
10.6 Safety Valves
10.6.1 Historical Trend (2018-2022)
10.6.2 Forecast Trend (2023-2028)
10.7 Others
11 Saudi Arabia Well Completion Equipment and Services Market by Location of Deployment
11.1 Onshore
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Offshore
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
12 Market Dynamics
12.1 SWOT Analysis
12.1.1 Strengths
12.1.2 Weaknesses
12.1.3 Opportunities
12.1.4 Threats
12.2 Porter’s Five Forces Analysis
12.2.1 Supplier’s Power
12.2.2 Buyer’s Power
12.2.3 Threat of New Entrants
12.2.4 Degree of Rivalry
12.2.5 Threat of Substitutes
12.3 Key Indicators for Demand
12.4 Key Indicators for Price
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 Schlumberger Limited
13.2.1.1 Company Overview
13.2.1.2 Product Portfolio
13.2.1.3 Demographic Reach and Achievements
13.2.1.4 Certifications
13.2.2 Halliburton Energy Services Inc.
13.2.2.1 Company Overview
13.2.2.2 Product Portfolio
13.2.2.3 Demographic Reach and Achievements
13.2.2.4 Certifications
13.2.3 Baker Hughes Company
13.2.3.1 Company Overview
13.2.3.2 Product Portfolio
13.2.3.3 Demographic Reach and Achievements
13.2.3.4 Certifications
13.2.4 Weatherford International plc
13.2.4.1 Company Overview
13.2.4.2 Product Portfolio
13.2.4.3 Demographic Reach and Achievements
13.2.4.4 Certifications
13.2.5 National-Oilwell Varco Inc.
13.2.5.1 Company Overview
13.2.5.2 Product Portfolio
13.2.5.3 Demographic Reach and Achievements
13.2.5.4 Certifications
13.2.6 TAQA KSA
13.2.6.1 Company Overview
13.2.6.2 Product Portfolio
13.2.6.3 Demographic Reach and Achievements
13.2.6.4 Certifications
13.2.7 Superior Energy Services Inc.
13.2.7.1 Company Overview
13.2.7.2 Product Portfolio
13.2.7.3 Demographic Reach and Achievements
13.2.7.4 Certifications
13.2.8 Packers Plus Energy Services Inc.
13.2.8.1 Company Overview
13.2.8.2 Product Portfolio
13.2.8.3 Demographic Reach and Achievements
13.2.8.4 Certifications
13.2.9 Welltec A/S
13.2.9.1 Company Overview
13.2.9.2 Product Portfolio
13.2.9.3 Demographic Reach and Achievements
13.2.9.4 Certifications
13.2.10 Others
14 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Well Completion Equipment and Services Market: Key Industry Highlights, 2018 and 2028
2. Saudi Arabia Well Completion Equipment and Services Market: Key Industry Highlights, 2018 and 2028
3. Saudi Arabia Well Completion Equipment and Services Historical Market: Breakup by Type (USD Billion), 2018-2022
4. Saudi Arabia Well Completion Equipment and Services Market Forecast: Breakup by Type (USD Billion), 2023-2028
5. Saudi Arabia Well Completion Equipment and Services Historical Market: Breakup by Location of Deployment (USD Billion), 2018-2022
6. Saudi Arabia Well Completion Equipment and Services Market Forecast: Breakup by Location of Deployment (USD Billion), 2023-2028
7. Saudi Arabia Well Completion Equipment and Services Market Structure
Key Questions Answered in the Report
The market is projected to grow at a CAGR of 4.5% between 2023 and 2028.
The market is driven by the sustained demand for hydrocarbons and the rising focus on unconventional resources such as shale gas.
The growing implementation of IoT and artificial intelligence in the completion process and the increasing focus on environmental sustainability are the key trends aiding the market growth.
The different equipment and services include are packers, sand control tools, multi-stage fracturing tools, liner hangers, smart wells, and safety valves, among others.
The different locations of deployment include onshore and offshore.
Well completion plays an essential role in ensuring optimal oil and gas production and protecting reservoir integrity, notably in unconsolidated formulations.
The key players in the market are Schlumberger Limited, Halliburton Energy Services Inc., Baker Hughes Company, Weatherford International plc, National-Oilwell Varco Inc., TAQA KSA, Superior Energy Services Inc., Packers Plus Energy Services Inc., and Welltec A/S, among others.
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