Press release
Artificial Lifts Market will reach 10800 million US$ in 2023
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. 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. A newer method called Continuous Belt Transportation (CBT) uses an oil absorbing belt to extract from marginal and idle wells. Artificial lift is needed in wells when there is insufficient pressure in the reservoir to lift the produced fluids to the surface, but often used in naturally flowing wells (which do not technically need it) to increase the flow rate above what would flow naturally. The produced fluid can be oil, water or a mix of oil and water, typically mixed with some amount of gas.
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Global Artificial Lifts Market: Forecast by Type / Application / Region
The worldwide market for Artificial Lifts is expected to grow at a CAGR of roughly 5.0% over the next five years, will reach 10800 million US$ in 2023, from 8080 million US$ in 2017, according to a new GIR (Global Info Research) study.
This report focuses on the Artificial Lifts in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa. This report categorizes the market based on manufacturers, regions, type and application.
Global Nonferrous Metal Recycling Market:Key Players
Schlumberger
GE
Dover Corporation
Baker Hughes
Weatherford International
Halliburton Company
JJ Tech
National Oilwell Varco
BCP Group
NOVOMET
Aker Solutions
Occidental Petroleum
Flotek Industries Inc
Borets International
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Related Information:
United States Artificial Lifts Market 2018 Forecast to 2023
Europe Artificial Lifts Market 2018 Forecast to 2023
North America Artificial Lifts Market 2018 Forecast to 2023
Asia-Pacific Artificial Lifts Market 2018 Forecast to 2023
China Artificial Lifts Market 2018 Forecast to 2023
EMEA Artificial Lifts Market 2018 Forecast to 2023
Global Artificial Lifts Market 2018 Forecast to 2023
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