Global Artificial Lift Market valued approximately USD 8.9 billion in 2017 is anticipated to grow with a healthy growth rate of more than 5.40% over the forecast period 2018–2025. Increasing demand of energy across the world, improving production efficiency at the mature fields and increasing deep & ultra-deep offshore oil production are the major driving factors of the artificial lift market.
The major restraining factor that negatively impact the artificial lift market are lack of skilled workers and high costs of artificial lift equipment. Artificial lift refers to the use of artificial means to increase the flow of liquids, such as crude oil or water, from a production well.
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Generally this is achieved by the use of a mechanical device inside the well (known as pump or velocity string) or by decreasing the weight of the hydrostatic column by injecting gas into the liquid some distance down the well. The artificial lifts have applications in the oil and gas industry to increase the oil production from reservoirs. In 2015, the Global artificial lift system market generated revenue of $16,449 million, moreover, due to increase in demand of energy across the world in conjunction with the improving production efficiencies at mature fields, the market revenue is to reach $34,569 million through 2022.
The regional analysis of Global Artificial Lift Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share highest revenue generating region valued at $6092 million in 2015. Whereas, owing to the countries such as China, Japan, and India in Asia Pacific region is anticipated to exhibit higher growth rate / CAGR over the forecast period 2018–2025 as well as leading largest revenue generating region by 2022. Ever rising population in the countries such as India and China are fueling the requirement of the oil and gas in this region along with increasing population.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study.
Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
- Rod Lift
- Gas Lift
- By Component:
- Cable Systems
- Drive Head
- Pump Jack
- Sucker Rod
- Gas Lift Valves
- Gas Lift Mandrels
- North America
- Asia Pacific
- Latin America
- Rest of the World
Furthermore, years considered for the study are as follows:
- Historical year — 2015, 2016
- Base year — 2017
- Forecast period — 2018 to 2025
The industry is seeming to be fairly competitive. Some of the leading market players include General Electric Company, Man Diesel and Turbo SE, Ebara Corporations, Solar Turbine Inc., Ariel Corporations, Neuman and Asser Group, Hitachi Ltd., Burckhardt Compression Holding AG, Route Mobile Ltd., Infobip Ltd., Tyntec, Nexmo, DIMOCO and so on. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players.
Target Audience of the Global Artificial Lift Market in Market Study:
- Key Consulting Companies & Advisors
- Large, medium-sized, and small enterprises
- Venture capitalists
- Value-Added Resellers (VARs)?
- Third-party knowledge providers
- Investment bankers
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Table of content
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Key Trends
1.3. Global & Segmental Market Estimates & Forecasts, 2015–2025 (USD Billion)
1.3.1. Artificial Lift, by Type, 2015–2025 (USD Billion)
1.3.2. Artificial Lift, by Component, 2015–2025 (USD Billion)
Chapter 2. Artificial Lift Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
Chapter 3. Artificial Lift Dynamics
3.1. See Saw Analysis
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Key Que Answered in this report:
- What will the Artificial Lift Market the growth rate be in 2025?
- What are the key factors driving the Global Artificial Lift Market?
- What are the key market trends in Artificial Lift Market?
- improve pasting the growth of the Artificial Lift Market?
- What are the challenges to Global Artificial Lift Market?
- What are the market opportunities and threats faced by the vendors in the Global Artificial Lift Market?
- What are the key outcomes of the five forces analysis of Artificial Lift Market?
What is our report offers:
Strategic suggestions and proposals for the beginners to understand
Assessments of the market share from different countries and regions were conducted
Top key market players, market share analysis included.
The market observations such as constraints, drivers, threats, opportunities, investment opportunities, challenges, and recommendations are added.
The competitive landscaping mappings of the ongoing trends are discussed.
Based on the market estimations, the strategic recommendations are made in the business segments
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