PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1391756
PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1391756
GCC Oilfield Service Market, By Service ; By Type ; By Location ; By Country, Competitive Landscape & Forecast, 2019-2029
GCC Oilfield Service Market Size Set to Grow at Steady CAGR of 5.76% to Reach USD 20.54 Billion by 2029.
GCC oilfield service market is flourishing due to fluctuating oil prices, adoption of technological advancements in drilling and exploration, the regional governments' supportive policies, and an increasingly high demand for oil and gas.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the GCC oilfield service market size at USD 14.68 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the GCC oilfield service market size to grow at a CAGR of 5.76% reaching a value of USD 20.54 billion by 2029. GCC (Gulf Cooperation Council) oilfield service market is influenced by several key driving factors, including fluctuations in global oil prices, which impact exploration and production activities in the region. Also, the rapid adoption of technological advancements in drilling and reservoir management techniques plays a crucial role in shaping the market. Governments' policies and regulations, as well as geopolitical stability in the Gulf region, also significantly impact the industry. Further, an increasingly high energy demand, the need for enhanced oil recovery methods, and a growing emphasis on environmental sustainability are also the major driving factors for the GCC oilfield services market, fostering innovations and investments in the oilfield sector.
Oilfield Services - Overview
Oilfield services refer to a broad range of activities and support services provided to the oil and gas industry. These services encompass drilling, well completion, maintenance, and other critical operations necessary for extracting and managing hydrocarbon resources. Oilfield service companies offer specialized equipment, technology, and expertise to optimize exploration and production processes. Oilfield services play a pivotal role in the energy industry, ensuring efficient and safe extraction of oil and gas. Oilfield services may include drilling rigs, well stimulation, reservoir management, and environmental solutions. Services in the oilfield sector are essential for maximizing the productivity and profitability of oil and gas ventures worldwide.
Impact of COVID-19 on GCC Oilfield Service Market
The COVID-19 pandemic impacted the GCC oilfield service market significantly. Lockdowns, reduced demand, and disrupted supply chains led to a sharp decline in oil prices and drilling activities across the Gulf region. Oilfield service companies faced revenue losses and downsizing. The industry adapted with cost-cutting measures, increased digitization, and streamlined operations to weather the crisis. As the GCC nations gradually recovered, there was a resurgence in drilling, offering new opportunities. However, the oilfield market remains cautious and focused on resilience, and prepared for future uncertainties in the global energy landscape.
GCC Oilfield Service Market - By Service
Based on service, GCC oilfield service market is divided into Drilling Services, Completion & Production Services, Well Intervention Services, and Seismic Services segments. Drilling Services encompass activities related to the initial drilling of oil and gas wells. Completion and Production Services involve activities that enhance well productivity after drilling. Well Intervention Services are focused on maintaining and optimizing existing wells. Seismic Services encompass exploration and data collection techniques to identify potential oil and gas reserves. These major service segments collectively constitute the GCC oilfield service market, providing a comprehensive range of services crucial to the oil and gas industry in the GCC region.
Competitive Landscape
GCC oilfield service market is fiercely competitive. Major companies in the market include AlMansoori Specialized Engineering, Saudi Aramco, Abu Dhabi Oilfield Services, Superior Oilfield Services LLC, National Arabian Petroleum Services Company, Petroleum Services Co. Kuwait, Special Oilfield Services Co. LLC, STARK International, Middle East Oilfield Services, RAAS Oilfield Services & Supplies WLL, FOS Energy LLC, Oman Oil Industry Supplies & Services Co. LLC, GAC Group, and Topaz Energy and Marine Drive. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in GCC oilfield service market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the GCC Oilfield Service Market. It also highlights the factors driving forecasts of total Market size. The report promises to provide recent technology trends in the GCC Oilfield Service Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
Table of Contents
1. Research Framework
- 1.1. Research Objective
- 1.2. Location Overview
- 1.3. Market Segmentation
2. Executive Summary
3. GCC Oilfield Service Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Increasing exploration and production activities
- 3.2.1.2. Rising investments in the oil and gas industry
- 3.2.2. Restraints
- 3.2.2.1. Volatile oil and gas prices
- 3.2.2.2. Increasing environmental regulations
- 3.2.3. Opportunities
- 3.2.3.1. Adoption of new technologies
- 3.2.3.2. Diversification of services
- 3.2.4. Challenges
- 3.2.4.1. Competition
- 3.2.4.2. Geopolitical instability
- 3.2.1. Growth Drivers
- 3.3. Technological Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
4. GCC Oilfield Service Market Overview
- 4.1. Market Size & Forecast, 2019-2029
- 4.1.1. By Value (USD Billion)
- 4.2. Market Share and Forecast
- 4.2.1. By Service
- 4.2.1.1. Drilling Services
- 4.2.1.2. Completion and Production Services
- 4.2.1.3. Well Intervention Services
- 4.2.1.4. Seismic Services
- 4.2.1.5. Others
- 4.2.2. By Type
- 4.2.2.1. Equipment Rental
- 4.2.2.2. Field Operation
- 4.2.2.3. Analytical Services
- 4.2.3. By Location
- 4.2.3.1. Onshore
- 4.2.3.2. Offshore
- 4.2.4. By Country
- 4.2.4.1. Saudi Arabia
- 4.2.4.2. UAE
- 4.2.4.3. Qatar
- 4.2.4.4. Bahrain
- 4.2.4.5. Kuwait
- 4.2.4.6. Oman
- 4.2.1. By Service
5. Competitive Landscape
- 5.1. List of Key Players and Their Offerings
- 5.2. GCC Oilfield Service Market Share Analysis, 2022
- 5.3. Competitive Benchmarking, By Operating Parameters
- 5.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
6. Impact of COVID-19 on GCC Oilfield Service Market
7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
- 7.1. AlMansoori Specialized Engineering
- 7.2. Saudi Aramco
- 7.3. Abu Dhabi Oilfield Services
- 7.4. Superior Oilfield Services LLC
- 7.5. National Arabian Petroleum Services Company
- 7.6. Petroleum Services Co. Kuwait
- 7.7. Special Oilfield Services Co. LLC
- 7.8. STARK International
- 7.9. Middle East Oilfield Services
- 7.10. RAAS Oilfield Services & Supplies WLL
- 7.11. FOS Energy LLC
- 7.12. Oman Oil Industry Supplies & Services Co. LLC
- 7.13. GAC Group
- 7.14. Topaz Energy and Marine Drive
- 7.15. Other Prominent Players
8. Key Strategic Recommendations
9. Research Methodology
- 9.1. Qualitative Research
- 9.1.1. Primary & Secondary Research
- 9.2. Quantitative Research
- 9.3. Market Breakdown & Data Triangulation
- 9.3.1. Secondary Research
- 9.3.2. Primary Research
- 9.4. Breakdown of Primary Research Respondents, By Country
- 9.5. Assumptions & Limitations
*Financial information of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable
List of Figures
- Figure 1 GCC Oilfield Service Segmentation
- Figure 2 GCC Oilfield Service Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2022
- Figure 4 GCC Oilfield Service Market Size, By Value (USD Billion), 2019-2029
- Figure 5 GCC Oilfield Service Market Share, By Service, By Value, 2019-2029
- Figure 6 GCC Oilfield Service Market Share, By Type, By Value, 2019-2029
- Figure 7 GCC Oilfield Service Market Share, By Location, By Value, 2019-2029
- Figure 8 GCC Oilfield Service Market Share, By Country, By Value, 2019-2029
List of Tables
- Table 1 GCC Oilfield Service Market Size, By Value (USD Billion), 2019-2029
- Table 2 GCC Oilfield Service Market Size, By Service, By Value, 2019-2029
- Table 3 GCC Oilfield Service Market Size, By Type, By Value, 2019-2029
- Table 4 GCC Oilfield Service Market Size, By Location, By Value, 2019-2029
- Table 5 GCC Oilfield Service Market Size, By Country, By Value, 2019-2029
- Table 6 AlMansoori Specialized Engineering Company Overview
- Table 7 AlMansoori Specialized Engineering Financial Overview
- Table 8 Saudi Aramco Company Overview
- Table 9 Saudi Aramco Financial Overview
- Table 10 Abu Dhabi Oilfield Services Company Overview
- Table 11 Abu Dhabi Oilfield Services Financial Overview
- Table 12 Superior Oilfield Services LLC Company Overview
- Table 13 Superior Oilfield Services LLC Financial Overview
- Table 14 National Arabian Petroleum Services Company Company Overview
- Table 15 National Arabian Petroleum Services Company Financial Overview
- Table 16 Petroleum Services Co. Kuwait Company Overview
- Table 17 Petroleum Services Co. Kuwait Financial Overview
- Table 18 Special Oilfield Services Co. LLC Company Overview
- Table 19 Special Oilfield Services Co. LLC Financial Overview
- Table 20 STARK International Company Overview
- Table 21 STARK International Financial Overview
- Table 22 Middle East Oilfield Services Company Overview
- Table 23 Middle East Oilfield Services Financial Overview
- Table 24 RAAS Oilfield Services & Supplies WLL Company Overview
- Table 25 RAAS Oilfield Services & Supplies WLL Financial Overview
- Table 26 FOS Energy LLC Company Overview
- Table 27 FOS Energy LLC Financial Overview
- Table 28 Oman Oil Industry Supplies & Services Co. LLC Company Overview
- Table 29 Oman Oil Industry Supplies & Services Co. LLC Financial Overview
- Table 30 GAC Group Company Overview
- Table 31 GAC Group Financial Overview
- Table 32 Topaz Energy and Marine Drive Company Overview
- Table 33 Topaz Energy and Marine Drive Financial Overview
