Saudi Arabia Industrial Services Market size is projected to grow at a CAGR of 6.8% during 2024-2030F

O&M Services sector by Services held the highest revenue share of Saudi Arabia Industrial Services Market -6Wresearch

In Saudi Arabia, O&M Services hold a dominant position in the industrial services market due to country’s heavy reliance on its oil and gas sector, where maintaining equipment reliability and optimizing operational costs are critical. As industries strive to enhance productivity and reduce downtime, the demand for comprehensive O&M Services continues to grow, making them essential for sustaining competitive advantage in the region.

According to 6Wresearch, Saudi Arabia Industrial Services Market size is projected to grow at a CAGR of 6.8% during 2024-2030F. Saudi Arabia’s petrochemical sector has experienced significant growth in recent decades, with production capacity reaching about 118 million tonnes annually. This expansion is driven by the government's commitment to economic diversification under Vision 2030 and continuous investments, expected to reach US$ 600 billion by 2030. This growth would drive demand for the industrial services, as increased production capacity would lead to higher need for maintenance and repair services to ensure efficient operations and minimize downtime.

Saudi Arabia industrial services market grew owing to post pandemic recovery of industries such as oil and gas and also due to initiatives such as Vision 2030 to diversify the economy from oil and gas sector to other sectors such as Manufacturing. Moreover, National Industrial Strategy targets 36,000 factories by 2035 along with ambitious giga projects like NEOM, Qiddiya driving demand for engineering and consulting services, further stimulating demand for industrial services.

According to Shubham Deep, Senior Research Analyst, 6Wresearch, Oil & Gas sector dominates the market in Saudi Arabia due to country's vast reserves and significant production capacity, making it a global leader in oil exports. The industry drives substantial investment in infrastructure and services, fueling demand for specialized industrial services such as maintenance, and engineering. However, other industries would grow at faster rate in the coming years owing to government vision 2030 initiative.

Saudi Arabia Industrial Services Market (2024-2030) report provides an in-depth analysis with 16 figures and 11 tables, covered in 73 pages. The report thoroughly covers market by type, by material, by shape and by end-user. Saudi Arabia Industrial Services Market outlook report provides an unbiased and detailed analysis of the on-going Saudi Arabia Industrial Services Market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.