Saudi Arabia Liner Hanger System Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The liner hanger system market in Saudi Arabia is expected to grow at a CAGR of more than 5.5% in the forecast period of 2020-2025. With the largest oil reserves, the region is expected to witness significant growth in the forecast period. Moreover, the increasing gas production in the country is driving the demand for the liner hanger system. On the other hand, the global crude oil price decline in 2020 has led to a halt or delay in various oil and gas projects. Also, total crude oil production in the Middle East declined in 2019. If this trend continues, it can restrain the growth of the market studied.
Key HighlightsThe Saudi Arabia liner hanger system market is moderately consolidated. Some of the major companies include National-Oilwell Varco, Inc., Halliburton Company, Weatherford International plc, Baker Hughes Company, and Schlumberger Limited.
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