Artificial Lift Market Business Strategies, Upcoming Developments and Global Leading Players: Baker Hughes, Borets, Cameron International, Dover Corporation, GE Oil & Gas, Halliburton, John Crane, National Oilwell Varco, Schlumberger, and Weatherford

Market Overview:-

The global artificial lift market is expected to experience an upward trend following increasing focus on production optimization in the industry. The decline in oil prices has instigated a global lockdown on exploration investments, with the majority of companies facing huge losses. Oil & Gas companies have increased their emphasis on optimizing operational field production, and increasing production efficiency to lower the costs. Such a profound change in the strategic outlook is expected to inevitably instigate an increase in demand for production optimization equipment such as artificial lift systems. However, strict government and regulations and environmental problems associated oil & gas production are inhibiting the growth of the artificial lift market. The global artificial lift market is expected to grow at a CAGR of 7-8% during the forecast period from 2018 to 2022.

Segments:-

The market for Artificial Lift has been segmented on the basis of type of equipment employed for the function. The segmentation involves rod lift, electric submersible pump (ESP), progressive cavity pumps (PCP), gas lift, and others. Other types used include plunger lift, and hydraulic jet pumps which have a small contribution within the artificial lift market.

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Industry 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. The companies in this market have adopted various strategies such as mergers and acquisitions, expansions, and new product developments to append their market share.

Study Objectives of Artificial Lift Market:-

To provide detailed analysis of the market structure along with forecast for the next 6 years of the various segments and sub-segments of the Global Artificial Lift Market
To analyze and provide insights about factors affecting the market growth
To Analyze the Global Artificial Lift Market based on various factors- price analysis, supply chain analysis, porters five force analysis etc.
To provide historical and forecast revenue of the market segments and sub-segments with respect to respect to regions and their respective key countries
To provide country level analysis of the market with respect to the current market size and future prospective
To provide country level analysis of the market for segments by type, and by region
To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Global Artificial Lift Market.

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Regional Analysis of Artificial Lift:-

North America dominated the Global Artificial Lift Market with the largest market share in 2015. It is expected to retain its dominance in the market with a high growth rate. Presence of large shale oil & gas reserves, as well as tight oil reserves is expected to aid the North American market for artificial lift. The European region held the second largest share within the artificial lift market is expected to grow at a moderate rate during the forecast period, between 2016 and 2022. Asia-Pacific market is expected to exhibit a comparatively high growth than Europe. Increasing focus towards development of shale gas projects in countries such as China, and Indonesia is expected to be a major factor driving the Asia-pacific market.

Intended Audience:-

Submersible Pump manufacturing companies
Oil & gas service providers
Oil & gas industry Consultants and Investment bankers
Government as well as Independent Regulatory Authorities

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