Middle East & Africa Well Completion Equipment and Services Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Offerings (Equipment and Service) and Location (Onshore and Offshore)

Code: TIPRE00026083 | Pages: 111 | Industry: Manufacturing and Construction | Date: Nov 2021 | Type: Regional

Market Introduction

Saudi Arabia, South Africa, and the UAE are among the key countries in the Middle East & Africa. Saudi Arabia, Iraq, the UAE, Iran, and Kuwait are the top 5 oil producers in the Middle East, and the countries contribute ~27% to the global production of oil. In 2019, Kuwait signed an offshore exploration contract, worth USD 600 million, with Halliburton to drill six high-pressure, high-temperature exploration wells in the next 2–3 years. The Middle East is characterized by the presence of huge oil & gas resources; of these, many need to be explored, which explains extensive opportunities for the drilling service providers. In 2018, Qatar Petroleum (QP) signed a contract for procuring eight jack-ups for drilling and well completion of 80 wells at its offshore North Field expansion project. As estimated by Baker Hughes Company, the offshore rig count in the Middle East is ~44 units, and this may increase during the forecast period due to investments being made in the region. Additionally, the Kingdom of Saudi Arabia (KSA) has maintained high crude oil production levels despite a drop in global crude oil prices. These factors are contributing to the growth of well completion market in the Middle East.

According to the International Energy Agency, the prolonged COVID-19 issue is causing the biggest decrease in the Middle East & Africa energy investment in the history. The lockdown caused supply chain interruptions, personnel shortages, and project finance challenges, all of which have impacted energy projects. Countries in the Middle East and others rely heavily on China, which generates more than half of the world's oil and gas technologies. The bulk of important manufacturers of well completion technology are based in China. As a result of the crisis, the global supply chain network, including oil and gas, has been badly affected. As a result, the COVID-19 pandemic limits the demand development of well completion equipment and services in the Middle East & Africa.


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Market Overview and Dynamics

The well completion equipment and services market in Middle East & Africa is expected to grow from US$ 2,153.16 million in 2021 to US$ 2,914.18 million by 2028; it is estimated to grow at a CAGR of 4.4% from 2021 to 2028. Adoption of smart well technologies; the automation in well technologies is one of the major factors aiding the growth of the market across the region. The adoption of smart well technologies has become a popular trend among well rig vendors. It provides different advantages such as an increase in production rates, time and cost savings, a decrease in water injections, and monitoring of the whole production operations, along with real-time updates to the connected monitor or devices. Initially, the smart well concept was tried in onshore wells but now it has been applied to the offshore rigs as well. Moreover, industrial revolution 4.0 in the oil & gas industry has propelled the adoption of smart well technologies and well completion equipment across different oil rigs, which is driving the market. The intelligent well completion system also helps to boost the oil production and overall operational efficiency to 50% and more (if retained successfully). Thereby, adoption of smart well technologies is expected to fuel the Middle East & Africa well completion equipment and services market growth.

Key Market Segments

Based on the offerings, the well completion equipment and services market are segmented into equipment and services. In 2020, the services segment held the largest share Middle East & Africa well completion equipment and services market. Based on equipment the market is divided into packers, sand control tools, multistage fracturing tools, liner hangers, smart wells, valves, control devices, and others. In 2020, the packers segment held the largest share Middle East & Africa well completion equipment and services market. Based on location, the well completion equipment and services market, is segmented into onshore and offshore. The offshore segment accounts for largest market share in the 2020.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the well completion equipment and services market in Middle East & Africa are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Baker Hughes Company; Halliburton Company; Nov Inc.; Royal Dutch Shell PLC; Schlumberger Limited; and Welltec among others.

Reasons to buy report

  • To understand the Middle East & Africa well completion equipment and services market landscape and identify market segments that are most likely to guarantee a strong return
  • Stay ahead of the race by comprehending the ever-changing competitive landscape for Middle East & Africa well completion equipment and services market
  • Efficiently plan M&A and partnership deals in Middle East & Africa well completion equipment and services market by identifying market segments with the most promising probable sales
  • Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Middle East & Africa well completion equipment and services market
  • Obtain market revenue forecast for market by various segments from 2021-2028 in Middle East & Africa region.

MIDDLE EAST & AFRICA WELL COMPLETION EQUIPMENT AND SERVICES MARKET SEGMENTATION

By Offerings

  • Equipment
    • Packers
    • Sand Control Tools
    • Multistage Fracturing Tools
    • Liner Hangers
    • Smart Wells
    • Valves
    • Control Devices
    • Others
  • Services

 

By Location

  • Onshore
  • Offshore

 

By Country

  • Saudi Arabia
  • South Africa
  • UAE
  • Rest of Middle East & Africa

Company Profiles

  • Baker Hughes Company
  • Halliburton Company
  • Nov Inc.
  • Royal Dutch Shell PLC
  • Schlumberger Limited
  • Welltec
 

TABLE OF CONTENTS

1.             Introduction

1.1       Study of the Scope

1.2       The Insight Partners Research Report Guidance

1.3       Market Segmentation

2.             Key Takeaways

3.             Research Methodology

3.1       Coverage

3.2       Secondary Research

3.3       Primary Research

4.             MEA Well Completion Equipment and Services Market Landscape

4.1       Market Overview

4.2       PEST Analysis

4.2.1        MEA

4.3       Ecosystem Analysis

4.4       Expert Opinions

5.             MEA Well Completion Equipment and Services Market – Key Market Dynamics

5.1       Market Drivers

5.1.1        Growing Demand for Oil & Gas Exploration

5.1.2        Resuming of Shale Gas Operations

5.2       Market Restraints

5.2.1        Downfall in the Oil & Gas Industry in FY 2020

5.3       Future Trends

5.3.1        Collaboration of Oil Service Vendors and Arctic Exploration

5.4       Market Opportunities

5.4.1        Adoption of Smart Well Technologies

5.5       Impact Analysis of Drivers and Restraints

6.             Well Completion Equipment and Services – MEA Market Analysis

6.1       MEA Well Completion Equipment and Services Market Overview

6.2       MEA Well Completion Equipment and Services Market Revenue Forecast and Analysis

7.             MEA Well Completion Equipment and Services Market – By Offerings

7.1       Overview

7.2       MEA Well Completion Equipment and Services Market, By Offerings (2020 and 2028)

7.3       Equipment

7.3.1        Overview

7.3.2        Equipment: MEA Well Completion Equipment and Services Market – Revenue and Forecast to 2028 (US$ Million)

7.3.2.1      Packers

7.3.2.1.1       Overview

7.3.2.1.2       Packers: MEA Well Completion Equipment and Services Market – Revenue and Forecast to 2028 (US$ Million)

7.3.2.2      Sand Control Tools

7.3.2.2.1       Overview

7.3.2.2.2       Sand Control Tools: MEA Well Completion Equipment and Services Market – Revenue and Forecast to 2028 (US$ Million)

7.3.2.3      Multistage Fracturing Tools

7.3.2.3.1       Overview

7.3.2.3.2       Multistage Fracturing Tools: MEA Well Completion Equipment and Services Market – Revenue and Forecast to 2028 (US$ Million)

7.3.2.4      Liner Hangers

7.3.2.4.1       Overview

7.3.2.4.2       Liner Hangers: MEA Well Completion Equipment and Services Market – Revenue and Forecast to 2028 (US$ Million)

7.3.2.5      Smart Wells

7.3.2.5.1       Overview

7.3.2.5.2       Smart Wells: MEA Well Completion Equipment and Services Market – Revenue and Forecast to 2028 (US$ Million)

7.3.2.6      Valves

7.3.2.6.1       Overview

7.3.2.6.2       Valves: MEA Well Completion Equipment and Services Market – Revenue and Forecast to 2028 (US$ Million)

7.3.2.7      Control Devices

7.3.2.7.1       Overview

7.3.2.7.2       Control Devices: MEA Well Completion Equipment and Services Market – Revenue and Forecast to 2028 (US$ Million)

7.3.2.8      Others

7.3.2.8.1       Overview

7.3.2.8.2       Others: MEA Well Completion Equipment and Services Market – Revenue and Forecast to 2028 (US$ Million)

7.4       Services

7.4.1        Overview

7.4.2        Services: MEA Well Completion Equipment and Services Market – Revenue and Forecast to 2028 (US$ Million)

8.             MEA Well Completion Equipment and Services Market – By Location

8.1       Overview

8.2       MEA Well Completion Equipment and Services Market, by Location (2020 and 2028)

8.3       Onshore

8.3.1        Overview

8.3.2        Onshore: MEA Well Completion Equipment and Services Market – Revenue and Forecast to 2028 (US$ Million)

8.4       Offshore

8.4.1        Overview

8.4.2        Offshore: MEA Well Completion Equipment and Services Market – Revenue and Forecast to 2028 (US$ Million)

9.             MEA Well Completion Equipment and Services Market – Country Analysis

9.1       MEA: Well Completion Equipment and Services Market

9.1.1        MEA: Well Completion Equipment and Services Market- by Key Country

9.1.1.1      South Africa: Well Completion Equipment and Services Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.1.1       South Africa: Well Completion Equipment and Services Market- by Offerings

9.1.1.1.2       South Africa: Well Completion Equipment and Services Market- by Location

9.1.1.2      Saudi Arabia: Well Completion Equipment and Services Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.2.1       Saudi Arabia: Well Completion Equipment and Services Market- by Offerings

9.1.1.2.2       Saudi Arabia: Well Completion Equipment and Services Market- by Location

9.1.1.3      UAE: Well Completion Equipment and Services Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.3.1       UAE: Well Completion Equipment and Services Market- by Offerings

9.1.1.3.2       UAE: Well Completion Equipment and Services Market- by Location

9.1.1.4      Rest of MEA: Well Completion Equipment and Services Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.4.1       Rest of MEA: Well Completion Equipment and Services Market- by Offerings

9.1.1.4.2       Rest of MEA: Well Completion Equipment and Services Market- by Location

10.          MEA Well Completion Equipment and Services Market - COVID-19 Impact Analysis

10.1    Middle East and Africa

11.          MEA Well Completion Market-Industry Landscape

11.1    Overview

11.2    Market Initiative

11.3    Merger and Acquisition

11.4    New Product Launch

12.          Company Profiles

12.1    Baker Hughes Company

12.1.1     Key Facts

12.1.2     Business Description

12.1.3     Products and Services

12.1.4     Financial Overview

12.1.5     SWOT Analysis

12.1.6     Key Developments

12.2    Halliburton Company

12.2.1     Key Facts

12.2.2     Business Description

12.2.3     Products and Services

12.2.4     Financial Overview

12.2.5     SWOT Analysis

12.2.6     Key Developments

12.3    NOV Inc.

12.3.1     Key Facts

12.3.2     Business Description

12.3.3     Products and Services

12.3.4     Financial Overview

12.3.5     SWOT Analysis

12.3.6     Key Developments

12.4    Royal Dutch Shell Plc

12.4.1     Key Facts

12.4.2     Business Description

12.4.3     Products and Services

12.4.4     Financial Overview

12.4.5     SWOT Analysis

12.4.6     Key Developments

12.5    Schlumberger Limited

12.5.1     Key Facts

12.5.2     Business Description

12.5.3     Products and Services

12.5.4     Financial Overview

12.5.5     SWOT Analysis

12.5.6     Key Developments

12.6    Welltec

12.6.1     Key Facts

12.6.2     Business Description

12.6.3     Products and Services

12.6.4     Financial Overview

12.6.5     SWOT Analysis

12.6.6     Key Developments

13.          Appendix

13.1    About The Insight Partners

13.2    Word Index

LIST OF TABLES

Table 1.             MEA Well Completion Equipment and Services Market Revenue and Forecast to 2028 (US$ Million)

Table 2.             MEA: Well Completion Equipment and Services Market- by Key Country – Revenue and Forecast to 2028 (US$ Million)

Table 3.             South Africa: Well Completion Equipment and Services Market- by Offerings –Revenue and Forecast to 2028 (US$ Million)

Table 4.             South Africa Well Completion Equipment and Services Market, by Equipment – Revenue and Forecast to 2028 (USD Million)

Table 5.             South Africa: Well Completion Equipment and Services Market- by Location –Revenue and Forecast to 2028 (US$ Million)

Table 6.             Saudi Arabia: Well Completion Equipment and Services Market- by Offerings –Revenue and Forecast to 2028 (US$ Million)

Table 7.             Saudi Arabia Well Completion Equipment and Services Market, by Equipment – Revenue and Forecast to 2028 (USD Million)

Table 8.             Saudi Arabia: Well Completion Equipment and Services Market- by Location –Revenue and Forecast to 2028 (US$ Million)

Table 9.             UAE: Well Completion Equipment and Services Market- by Offerings –Revenue and Forecast to 2028 (US$ Million)

Table 10.          UAE Well Completion Equipment and Services Market, by Equipment – Revenue and Forecast to 2028 (USD Million)

Table 11.          UAE: Well Completion Equipment and Services Market- by Location –Revenue and Forecast to 2028 (US$ Million)

Table 12.          Rest of MEA: Well Completion Equipment and Services Market- by Offerings –Revenue and Forecast to 2028 (US$ Million)

Table 13.          Rest of MEA Well Completion Equipment and Services Market, by Equipment – Revenue and Forecast to 2028 (USD Million)

Table 14.          Rest of MEA: Well Completion Equipment and Services Market- by Location –Revenue and Forecast to 2028 (US$ Million)

Table 15.          List of Abbreviation

LIST OF FIGURES

Figure 1.           MEA Well Completion Equipment and Services Market Segmentation

Figure 2.           MEA Well Completion Equipment and Services Market Segmentation – By Country

Figure 3.           MEA Well Completion Equipment and Services Market Overview

Figure 4.           MEA Well Completion Equipment and Services Market, by Offerings

Figure 5.           MEA Well Completion Equipment and Services Market, by Location

Figure 6.           MEA Well Completion Equipment and Services Market, by Country

Figure 7.           MEA PEST Analysis

Figure 8.           MEA Well Completion Equipment and Services Market: Impact Analysis of Drivers and Restraints

Figure 9.           MEA Well Completion Equipment and Services Market Revenue Forecast and Analysis (US$ Million)

Figure 10.        MEA Well Completion Equipment and Services Market Revenue Share, by Offerings (2020 and 2028)

Figure 11.        Equipment: MEA Well Completion Equipment and Services Market – Revenue and Forecast to 2028 (US$ Million)

Figure 12.        Packers: MEA Well Completion Equipment and Services Market – Revenue and Forecast to 2028 (US$ Million)

Figure 13.        Sand Control Tools: MEA Well Completion Equipment and Services Market – Revenue and Forecast to 2028 (US$ Million)

Figure 14.        Multistage Fracturing Tools: MEA Well Completion Equipment and Services Market – Revenue and Forecast to 2028 (US$ Million)

Figure 15.        Liner Hangers: MEA Well Completion Equipment and Services Market – Revenue and Forecast to 2028 (US$ Million)

Figure 16.        Smart Wells: MEA Well Completion Equipment and Services Market – Revenue and Forecast to 2028 (US$ Million)

Figure 17.        Valves: MEA Well Completion Equipment and Services Market – Revenue and Forecast to 2028 (US$ Million)

Figure 18.        Control Devices: MEA Well Completion Equipment and Services Market – Revenue and Forecast to 2028 (US$ Million)

Figure 19.        Others: MEA Well Completion Equipment and Services Market – Revenue and Forecast to 2028 (US$ Million)

Figure 20.        Services: MEA Well Completion Equipment and Services Market – Revenue and Forecast to 2028 (US$ Million)

Figure 21.        MEA Well Completion Equipment and Services Market Revenue Share, by Location (2020 and 2028)

Figure 22.        Onshore: MEA Well Completion Equipment and Services Market – Revenue and Forecast to 2028 (US$ Million)

Figure 23.        Offshore: MEA Well Completion Equipment and Services Market – Revenue and Forecast to 2028 (US$ Million)

Figure 24.        MEA: Well Completion Equipment and Services Market – Revenue by Country to 2028 (US$ Million)

Figure 25.        MEA: Well Completion Equipment and Services Market Revenue Share, By Key Country (2020 and 2028)

Figure 26.        South Africa: Well Completion Equipment and Services Market – Revenue and Forecast to 2028 (US$ Million)

Figure 27.        Saudi Arabia: Well Completion Equipment and Services Market – Revenue and Forecast to 2028 (US$ Million)

Figure 28.        UAE: Well Completion Equipment and Services Market – Revenue and Forecast to 2028 (US$ Million)

Figure 29.        Rest of MEA: Well Completion Equipment and Services Market – Revenue and Forecast to 2028 (US$ Million)

Figure 30.        Impact of COVID-19 Pandemic in Middle East and Africa Country Markets

  32

  1. Baker Hughes Company
  2. Halliburton Company
  3. Nov Inc.
  4. Royal Dutch Shell PLC
  5. Schlumberger Limited
  6. Welltec
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