Press release
Subsea Artificial Lift Systems Industry Research Report, Growth Trends and Competitive Analysis 2018-2025
In terms of production side, this report researches the Subsea Artificial Lift Systems capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and product type.
In terms of consumption side, this report focuses on the consumption of Subsea Artificial Lift Systems by regions and application. The key regions like North America, Europe, Asia-Pacific, Central & South America, Middle East and Africa etc.
Artificial lift is a process used on oil wells to increase pressure within the reservoir and encourage oil to the surface. When the natural drive energy of the reservoir is not strong enough to push the oil to the surface, artificial lift is employed to recover more production.
The rising need to increase the efficiency of existing wells is one of the key drivers stimulating growth in the market during the estimated period. The drop in global crude oil prices has severely affected the upstream oil and gas sector and the drilling market. This resulted in high rates of employee layoffs and reduced revenues in major oil and gas companies. The decline in oil price has also reduced the profit margin of the upstream exploration and production (E&P) and service provider companies. This compels the upstream E&P companies to increase the efficiency and recovery of oil from existing wells. Consequently, the demand for artificial lift techniques will increase in the forthcoming years to recover oil from existing wells, mature fields, or new wells. Furthermore, explorers are also increasingly focusing on the recovery of oil using artificial lift techniques because the recovery of oil is relatively less expensive than drilling new wells.
The increasing demand for the production of oil and gas will fuel the adoption of artificial lift systems in the Americas. The US was the major participant in the production of crude oil and liquid fuel consumption during 2017. Owing to the constant increase in the demand from countries such as the US, Canada, and Mexico, North America is the second-largest consumer of crude oil across the world. This will consequently drive the market’s growth prospects in this region during the next four years.
The Subsea Artificial Lift Systems market was valued at xx Million US$ in 2017 and is projected to reach xx Million US$ by 2025, at a CAGR of xx% during the forecast period. In this study, 2017 has been considered as the base year and 2018 to 2025 as the forecast period to estimate the market size for Subsea Artificial Lift Systems.
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This report includes the following manufacturers; we can also add the other companies as you want.
Baker Hughes
Halliburton
National Oilwell Varco
Schlumberger
Weatherford
Borets
JJ Tech
Multi-Chase Group
NOVOMET
Market Segment by Product Type
Electric Submersible Pump System
Progressive Cavity Pump System
Rod Lift
Market Segment by Application
Oil Wells
Gas Wells
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QY Research established in 2007, focus on custom research, management consulting, IPO consulting, industry chain research, data base and seminar services. The company owned a large basic data base (such as National Bureau of statistics database, Customs import and export database, Industry Association Database etc), expert’s resources (included energy automotive chemical medical ICT consumer goods etc.
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