Saudi Arabia Oil Field Equipment Rental Market Research Report 2021-2027

September 24, 2022 ⚊ 1 Min read ⚊ Views 122 ⚊ BUSINESS

Saudi Arabia Oil Field Equipment Rental Market is projected to witness growth at a significant CAGR during the forecast period, 2023-2027. The market growth can be attributed to the increasing oilfield explorations in the country. Saudi Arabia constitutes 17% of the global petroleum reserves, which accounts for 50% of the country’s GDP and 70% of export business. Hence, developments in the ever-expanding industry are creating a high demand for oil field equipment, which is expected to drive market growth in the coming years.

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