Global Artificial Lift Market : Company Profiles, Landscape, Demand and Forecast – 2022

Market Highlights

Artificial Lift Market is expected to grow with the CAGR of about 7% from 2016 to 2022. For the Global Artificial Lift market drivers are increased unconventional oil & gas production, declining reservoirs, and growing number of mature fields. However, strict government regulations environmental concerns are constraining the growth of the artificial lift market. The recent decline in oil prices is estimated to increase the demand for production focused services such as pressure pumping, artificial lift and enhanced oil recovery; as the focus has shifted entirely towards production optimization as comparison to drilling services. Consequently, artificial lifts are expected to experience a rise in demand from owner-operators, independent E&P companies, and other industry stakeholders.

 Key Findings

The key findings of the report “Global Artificial Lift Market includes:

  • Increasing focus towards production optimization, and growing number of mature oil fields are major factors driving the growth of the artificial lift market
  • Strict government regulations and environmental issues associated with the oil and gas production is inhibiting the growth of the artificial lift market
  • Geographically, North America has the largest share in global artificial lift market and is also expected to be the fastest growing region
  • Based on the type, electric submersible pumps have the largest market share in the artificial lift market.

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 Key Players

Key players in this market are:

  • Baker Hughes,
  • Borets,
  • Cameron International,
  • Dover Corporation,
  • GE Oil & Gas,
  • Halliburton,
  • John Crane,
  • National Oilwell Varco,
  • Schlumberger, and Weatherford.

North America and Europe regions dominated the Artificial Lift Market in 2015

Geographically, North America accounts for the largest share in the artificial lift market in 2015. It is also expected to provide immense growth potential due to the presence of recoverable shale oil and gas resources in this region. Also, the increase in tight oil production is boosting the demand for artificial lift in the region. European region held the second largest share within the artificial lift market, and is expected to grow at a moderate pace due to large number of offshore wells. Asia-Pacific region is projected to be the second fastest growing market.

Artificial Lift Market:

The global artificial lift market is growing due to decline in oil reservoirs, increase in shale oil and gas production. The recent decline in oil prices is also estimated to increase the demand for production focused services such as pressure pumping, artificial lift and enhanced oil recovery in comparison to drilling services. The unconventional production has transformed the oil and gas industry in North America over the last decade. The tight oil production in U.S. has pushed its crude oil supply to over 10% of world total. There are different types of artificial lifts which include rod lift, electric submersible pumps, progressive cavity pumps, gas lift and others. The Artificial lift Market is projected to grow at a high CAGR of around 7% during the forecast period.

 

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 Table of Content

1  Report Prologue

2  Introductiondefinition

Scope Of The Study

Research Objective

Assumptions

Limitations

Market Structure

Market Segmentation

3  Research Methodology

Research Process

Primary Research

Secondary Research

Market Size Estimation

Forecast Model

Continue………..

 

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