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Report
Saudi Arabia Drilling Rigs Market Report and Forecast 2025-2034
Market Report I 2025-06-30 I 100 Pages I EMR Inc.
The Saudi Arabia drilling rigs market size reached approximately USD 4.45 Billion in 2024. The market is projected to grow at a CAGR of 6.60% between 2025 and 2034, reaching a value of around USD 8.43 Billion by 2034.
Key Trends in the Market
Drill rigs are large and complex pieces of machinery that are used to bore a hole into the earth's surface. The machine is used to locate and extract resources such as oil, gas, and underground water. These machines are usually configured according to the environment they are used in.
- One of the major Saudi Arabia drilling rigs market trends is the growing popularity of advanced technologies such as IoT (Internet of Things) devices, artificial intelligence-assisted drilling, and remote monitoring systems. The drilling sector in Saudi Arabia, along with the global market, has been witnessing a technological revolution. The country has been moving towards adopting automation to enhance efficiency, reduce costs, and minimise the environmental impact of the drilling process.
- The commencement of megaprojects like NEOM, the Red Sea Project, and Qiddiya is likely to lead to a significant rise in the Saudi Arabia drilling rigs market demand in the coming years. These projects require extensive geotechnical studies, which drives the demand for drilling rigs. These projects fall under the economic transformation plan, known as Vision 2030, which aims to diversify the country's economy beyond oil and reduce its dependency on fossil fuels.
- A major factor enhancing the Saudi Arabia drilling rigs market growth is the increasing number of skilled workforce and training programmes to educate and nurture qualified personnel, which is boosting drilling activities in Saudi Arabia.
Market Segmentation
The EMR's report titled "Saudi Arabia Drilling Rigs Market Report and Forecast 2025-2034" offers a detailed analysis of the market based on the following segments:
Market Breakup by Application
- Onshore
- Offshore
Market Breakup by Type
- Jack-Up Rigs
- Semi-Submersible
- Drill Ships
Market Breakup by Water Depth
- Shallow Water
- Deepwater
- Ultra-Deep Water
Market Share by Application
Offshore activities are likely to surge during the forecast period, accounting for a substantial portion of the Saudi Arabia drilling rigs market share. The country has been actively working on its Vision 2030 plan, which aims to diversify its economy beyond oil. Offshore drilling helps tap into new natural gas reserves, providing additional revenue streams and reducing dependence on traditional onshore reserves.
Market Share by Type
According to the Saudi Arabia drilling rigs market analysis, due to the increasing offshore drilling activities, drill ships are expected to witness a rise in demand in the coming years. A drill ship is a self-propelled vessel equipped with drilling equipment. It is capable of drilling in deep water and ultra-deep-water locations. Drill ships are versatile and can operate in a wide range of water depths.
Competitive Landscape
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 drilling rigs market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.
Shelf Drilling Holdings Ltd
Shelf Drilling Holdings Ltdis a company engaged in offshore drilling operations. The company is headquartered in Dubai and operates in multiple regions with a focus on shallow-water drilling services. It puts great emphasis on providing safe, efficient, and reliable drilling services to its clients.
KCA Deutag Group
KCA Deutag Groupis an international drilling, engineering, and technology company operating in the oil and gas field. Since its establishment in 1888, the company has developed expertise in various fields, including geothermal drilling, oilfield equipment manufacturing, offshore drilling, decarbonisation, and clean energy.
Schlumberger Limited
Schlumberger Limitedis a multinational oilfield services company that is widely recognised as one of the largest and most influential players in the global energy sector. Founded in 1926, the company has its headquarters in Texas, the United States. The company specialises in various fields, including coiled tubing, drilling, artificial lift, perforating, well testing, and emissions management, among others.
Other Saudi Arabia drilling rigs market players include Saipem SpA, ARO Drilling (Saudi Aramco Rowan Offshore Drilling Company), China Petrochemical Corporation (Sinopec), and Arabian Drilling Company, among others.
1 Executive Summary
1.1 Market Size 2024-2025
1.2 Market Growth 2025(F)-2034(F)
1.3 Key Demand Drivers
1.4 Key Players and Competitive Structure
1.5 Industry Best Practices
1.6 Recent Trends and Developments
1.7 Industry Outlook
2 Market Overview and Stakeholder Insights
2.1 Market Trends
2.2 Key Verticals
2.3 Key Regions
2.4 Supplier Power
2.5 Buyer Power
2.6 Key Market Opportunities and Risks
2.7 Key Initiatives by Stakeholders
3 Economic Summary
3.1 GDP Outlook
3.2 GDP Per Capita Growth
3.3 Inflation Trends
3.4 Democracy Index
3.5 Gross Public Debt Ratios
3.6 Balance of Payment (BoP) Position
3.7 Population Outlook
3.8 Urbanisation Trends
4 Country Risk Profiles
4.1 Country Risk
4.2 Business Climate
5 Global Drilling Rigs Market Overview
5.1 Key Industry Highlights
5.2 Global Drilling Rigs Historical Market (2018-2024)
5.3 Global Drilling Rigs Market Forecast (2025-2034)
5.4 Global Drilling Rigs Market Share by Region
5.4.1 North America
5.4.2 Europe
5.4.3 Asia Pacific
5.4.4 Latin America
5.4.5 Middle East and Africa
6 Saudi Arabia Drilling Rigs Market Overview
6.1 Key Industry Highlights
6.2 Saudi Arabia Drilling Rigs Historical Market (2018-2024)
6.3 Saudi Arabia Drilling Rigs Market Forecast (2025-2034)
7 Saudi Arabia Drilling Rigs Market by Application
7.1 Onshore
7.1.1 Historical Trend (2018-2024)
7.1.2 Forecast Trend (2025-2034)
7.2 Offshore
7.2.1 Historical Trend (2018-2024)
7.2.2 Forecast Trend (2025-2034)
8 Saudi Arabia Drilling Rigs Market by Type
8.1 Jack-Up Rigs
8.1.1 Historical Trend (2018-2024)
8.1.2 Forecast Trend (2025-2034)
8.2 Semi-Submersible
8.2.1 Historical Trend (2018-2024)
8.2.2 Forecast Trend (2025-2034)
8.3 Drill Ships
8.3.1 Historical Trend (2018-2024)
8.3.2 Forecast Trend (2025-2034)
9 Saudi Arabia Drilling Rigs Market by Water Depth
9.1 Shallow Water
9.1.1 Historical Trend (2018-2024)
9.1.2 Forecast Trend (2025-2034)
9.2 Deepwater
9.2.1 Historical Trend (2018-2024)
9.2.2 Forecast Trend (2025-2034)
9.3 Ultra-Deep Water
9.3.1 Historical Trend (2018-2024)
9.3.2 Forecast Trend (2025-2034)
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter's Five Forces Analysis
10.2.1 Supplier's Power
10.2.2 Buyer's Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Competitive Landscape
11.1 Supplier Selection
11.2 Key Global Players
11.3 Key Regional Players
11.4 Key Player Strategies
11.5 Company Profiles
11.5.1 Saipem SpA
11.5.1.1 Company Overview
11.5.1.2 Product Portfolio
11.5.1.3 Demographic Reach and Achievements
11.5.1.4 Certifications
11.5.2 ARO Drilling (Saudi Aramco Rowan Offshore Drilling Company)
11.5.2.1 Company Overview
11.5.2.2 Product Portfolio
11.5.2.3 Demographic Reach and Achievements
11.5.2.4 Certifications
11.5.3 China Petrochemical Corporation (Sinopec)
11.5.3.1 Company Overview
11.5.3.2 Product Portfolio
11.5.3.3 Demographic Reach and Achievements
11.5.3.4 Certifications
11.5.4 Arabian Drilling Company
11.5.4.1 Company Overview
11.5.4.2 Product Portfolio
11.5.4.3 Demographic Reach and Achievements
11.5.4.4 Certifications
11.5.5 Shelf Drilling Holdings Ltd.
11.5.5.1 Company Overview
11.5.5.2 Product Portfolio
11.5.5.3 Demographic Reach and Achievements
11.5.5.4 Certifications
11.5.6 KCA Deutag Group
11.5.6.1 Company Overview
11.5.6.2 Product Portfolio
11.5.6.3 Demographic Reach and Achievements
11.5.6.4 Certifications
11.5.7 Schlumberger Limited
11.5.7.1 Company Overview
11.5.7.2 Product Portfolio
11.5.7.3 Demographic Reach and Achievements
11.5.7.4 Certifications
11.5.8 Others
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