The Saudi Arabia drilling equipment market size reached USD 82.68 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 122.35 Million by 2033, exhibiting a growth rate (CAGR) of 4.45% during 2025-2033. The market is driven by the expanding oil and gas production and exploration activities, especially in challenging terrains, to maintain Saudi Arabia’s leading energy position. Technological advancements in drilling equipment, such as automation and smart systems, are improving operational efficiency and safety in the Kingdom’s energy sector, thereby fueling the market. Government policies supporting Vision 2030, foreign investments, and strategic partnerships further augment the Saudi Arabia drilling equipment market share.
Report Attribute
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Key Statistics
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Base Year
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2024 |
Forecast Years
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2025-2033
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Historical Years
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2019-2024
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Market Size in 2024 | USD 82.68 Million |
Market Forecast in 2033 | USD 122.35 Million |
Market Growth Rate 2025-2033 | 4.45% |
Increased Oil and Gas Drilling and Production
The demand for oil-drilling machinery is significantly influenced by Saudi Arabia's position as the world's leading producer of oil. As it maintains its position among the major producers of energy in the global market, Saudi Arabia has been continually developing its oil and gas production and exploration activities. With enormous unexploited reserves, Saudi Arabia's state oil company, Saudi Aramco, keeps pumping money into the exploration of onshore and offshore resources. The Kingdom is looking into deeper reservoirs, tougher geology, and improved extraction methods, which involve the use of sophisticated and specialized drilling equipment. Moreover, Saudi Arabia's Vision 2030 master plan focuses on economic diversification, part of which involves increasing energy production to supply future needs. This has increased investments in improved oil recovery (EOR) technologies and requiring specialized equipment to tap hard-to-reach oil and gas reserves. Therefore, the need for advanced drilling technologies providing greater efficiency, safety, and environmental consciousness is increasing. On March 12, 2025, Arabian Drilling announced the successful deployment of 13 new unconventional land drilling rigs in Saudi Arabia, expanding its land fleet to 47 rigs and increasing its total fleet to 59 rigs. This expansion supports Saudi Arabia's energy transition, particularly in the development of the Jafurah gas field, the region's largest unconventional gas project. The new drilling rigs are a key part of the country's efforts to increase the share of natural gas in its energy mix. These increased exploration activities and technological advancements are significant drivers of the Saudi Arabia drilling equipment market growth, as the country pushes forward to maximize its energy resources while ensuring sustainability.
Technological Advancements in Drilling Equipment
Saudi Arabia is at the forefront of technological innovations within the oil and gas sector, with the nation actively integrating advanced technologies into its drilling operations. The adoption of new drilling techniques, such as horizontal drilling, hydraulic fracturing, and deepwater drilling, requires the use of specialized equipment capable of handling complex geological environments. The use of automation, real-time data analytics, and digital tools further enhances drilling operations, allowing for improved precision, reduced operational downtime, and cost-effective results. Saudi Aramco, along with other regional companies, invests heavily in adopting the latest advancements to stay competitive and optimize resource extraction. Technologies such as smart drilling systems, which allow for remote monitoring and data-driven decision-making, are becoming increasingly essential in the Kingdom’s drilling operations. On January 14, 2025, XtremeX Mining Technology announced plans to deploy its revolutionary AC-electric automated coiled tubing and electric top-drive diamond core drilling rig with Ivanhoe Electric at the Santa Cruz copper project in Arizona. The field trial will target depths of up to 2,000 meters, marking the first use of XMT's hybrid drilling technology, which aims to improve drilling speed, safety, and sustainability in mineral exploration. XMT's Series-A financing of USD 11 million will support the deployment and development of the rig, with Ivanhoe Electric securing exclusivity on three rigs for contracts lasting up to five years. These innovations are designed to increase efficiency, reduce environmental impact, and ensure the safety of operations in remote and harsh conditions. The growing need for these advanced technologies is expected to drive the demand for cutting-edge drilling equipment in Saudi Arabia, further bolstering the market for such products in the region.
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional levels for 2025-2033. Our report has categorized the market based on type, category, power source, mount type, distribution channel, and end-use.
Type Insights:
The report has provided a detailed breakup and analysis of the market based on the type. This includes drawworks, traveling blocks, coiled tubing, drilling instrumentation, drilling generators, wireline equipment, completion tools, oil tools, pipe handling systems, and others.
Category Insights:
The report has provided a detailed breakup and analysis of the market based on the category. This includes automatic and manual.
Power Source Insights:
The report has provided a detailed breakup and analysis of the market based on the power source. This includes electric and non-electric.
Mount Type Insights:
The report has provided a detailed breakup and analysis of the market based on the mount type. This includes truck mounted and trailer mounted.
Distribution Channel Insights:
The report has provided a detailed breakup and analysis of the market based on the distribution channel. This includes direct sales and indirect sales.
End-Use Insights:
The report has provided a detailed breakup and analysis of the market based on the end-use. This includes construction, oil and gas, mining, water management, and others.
Regional Insights:
The report has also provided a comprehensive analysis of all major regional markets. This includes Northern and Central Region, Western Region, Eastern Region, and Southern Region.
The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
Report Features | Details |
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Base Year of the Analysis | 2024 |
Historical Period | 2019-2024 |
Forecast Period | 2025-2033 |
Units | Million USD |
Scope of the Report |
Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
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Types Covered | Drawworks, Traveling Blocks, Coiled Tubing, Drilling Instrumentation, Drilling Generators, Wireline Equipment, Completion Tools, Oil Tools, Pipe Handling Systems, Others |
Categories Covered | Automatic, Manual |
Power Sources Covered | Electric, Non-Electric |
Mount Types Covered | Truck Mounted, Trailer Mounted |
Distribution Channels Covered | Direct Sales, Indirect Sales |
End-Uses Covered | Construction, Oil and Gas, Mining, Water Management, Others |
Regions Covered | Northern and Central Region, Western Region, Eastern Region, Southern Region |
Customization Scope | 10% Free Customization |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
Key Benefits for Stakeholders: