Artificial Lift Systems Market, By Types And Application- Global Industry Analysis And Forecast To 2023

The Artificial Lift System Market was worth USD 7.02 billion in 2014 and is expected to reach approximately USD 11.68 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 5.82% during the forecast period. Artificial Lifts are used when the natural driving energy of reservoirs is insufficient to push the liquid (water or crude oil) to the surface. These systems make use of various technique in order to get the work done. The efficiency of the production well can also be increased with the help of this system. Artificial Lift System market is expected to grow lucratively owing to extensive oil exploration activities across the globe. Also the shifting trend towards extraction from unconventional wells is expected to propel the market growth.

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Competitive Insights:

The leading players in the market are Kudu Industries Inc., Baker Hughes Incorporated, Weatherford International Ltd, National Oil Varco Inc., JSC Alnas, Tenaris S.A., Schlumberger Ltd, GE Energy. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.

Type Outlook and Trend Analysis:

According to the Type the market of Artificial Lift System is segmented into Gas Lift, Rod Lift, Progressive Cavity Pumps, Electrical Submersible Pumps, Hydraulic Pumps, and Others. The Rod Lift application would grow substantially and will hold majority of the market over the forecast period due to its ease of operation, simple and modest design, higher efficiency and its ability to lift high temperature oils to the surface. Also being relatively cheap and durable these systems will rule the market over time. Electric Submersible Pump market will grow in size and value due to its benefits such as corrosion resistance and being able to operate under 1Mpa Pressure. Progressive Cavity Pumps are also expected to grow over the course of time.

Artificial Lift System Market, ToC:

  1. Introduction
    2. Executive Summary
    3. Market Overview
    4. Market Analysis by Regions
    5. Artificial Lift Systems Market, By Type
    6. Artificial Lift Systems Market, By Application
    7. Artificial Lift Systems Market, By Region
    8. Company Profiles
    9. Global Artificial Lift Systems Market Competition, by Manufacturer
    10.Artificial Lift Systems Market Forecast (2018-2023)

    *You can glance through the list of Tables and Figures when you view the sample copy of Artificial Lift System Market.

The Artificial Lift System Market is segmented as follows-

Artificial Lift System Market, By Type:

Gas Lift

Rod Lift

Progressive Cavity Pumps

Electrical Submersible Pumps

Hydraulic Pumps

Others

Artificial Lift System Market, By Application:

Onshore

Offshore

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Application Outlook and Trend Analysis:

The application segment is fragmented into Onshore and Offshore. The Onshore application holds a majority in market due to increase in number of matured fields. The off shore application is also expected to grow due to various advantages like availability of resources and minimal cost.

Artificial Lift System Market, By Region:

North America – U.S, Canada, Mexico

Europe – Germany, France, UK, Italy, Spain, Rest of Europe

Asia-Pacific – Japan, China, Australia, India, South Korea, Rest of Asia Pacific

Rest of the World – Brazil, South Africa, Saudi Arabia, United Arab Emirates, Others

Regional Outlook and Trend Analysis:

According to the region, the Artificial Lift System Market is segmented as North America, Asia-Pacific, Europe and South America and Middle East & Africa. The North America market is foreseen to grow over time due to availability of low pressure wells and untapped oil wells. Also its efforts in unconventional resources such as shale gas, tight oil extraction will propel the growth. The Asia Pacific market will grow with a significant CAGR over the time. Various factors such as increasing energy demand due to increasing population, increasing spending on infrastructure and rising development activities will propel the growth in APAC region.

Research Methodology:

We use both primary as well as secondary research for our market surveys, estimates and for developing forecast. Our research process commence by analyzing the problem which enable us to design the scope for our research study. Our research process is uniquely designed with enough flexibility to adjust according to changing nature of products and markets, while retaining core element to ensure reliability and accuracy in research findings. We understand both macro and micro-economic factors to evaluate and forecast different market segments.

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Reason to Buy –

  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the Artificial Lift System market, thereby allowing players to develop effective long term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.

TO BE CONTINUED…

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