Artificial Lift Market worth 9.69 Billion US$ till 2021 | Global Major Manufacturers, Production and Sales Market Comparison

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The Artificial Lift Market is projected to reach US$ 9.69 Billion by 2021, growing at a CAGR of 4.91% from 2016 to 2021. Artificial lift systems are used in onshore and offshore applications. Production activities in oil rich countries and increasing shale gas production in North America and the Asia-Pacific regions are expected to drive the artificial lift market.

“The electrical submersible pumps segment is expected to grow at the highest CAGR from 2016 to 2021”
Based on type of artificial lift systems, the electrical submersible pumps segment is estimated to be the fastest growing market from 2016 to 2021. These pumps are used in low-sand oilfields, low-carbonate reservoirs, and highly deviated wells. Also, these pumps are usually used for offshore applications due to their ability to handle high-volume wells.

“North America: The largest market for artificial lift”
North America is currently the largest market for artificial lifts, followed by Europe and the Asia-Pacific. The North American market is driven by presence of large number of mature oilfields and increasing shale gas production in the region. The market in the North American region is projected to grow at a moderate rate, with the U.S. expected to dominate the market.

The Distribution of primary interviews is as follows:
• By Company Type: Tier 1- 60%, Tier 2- 30%, Tier 3- 10%
• By Designation: C-Level- 30%, D-Level- 60%, Others- 10%
• By Region: North America- 30%, Asia-Pacific-40%, Europe-10%, Rest of the World- 20%

Study Objectives:

• To strategically analyze the artificial lift market with respect to individual growth trends, future prospects, and contribution of each segment to the market

• To define, describe, and forecast the global artificial lift market by type, mechanism, application, and region

• To provide detailed information regarding major factors influencing the growth of the artificial lift market (drivers, restraints, opportunities, and industry-specific challenges)

• To strategically analyze the artificial lift market with respect to individual growth trends, future prospects, and contribution of each segment to the market

• To strategically profile key players and comprehensively analyze their market shares and core competencies

• To track and analyze competitive developments such as contracts & agreements, expansions, new product developments, and mergers & acquisitions in the artificial lift market

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Top Key Players in the “Artificial Lift Market” include are Schlumberger Limited, Weatherford International PLC, Baker Hughes Incorporated, General Electric Company, Halliburton Company, National Oilwell Varco, Inc., Borets International Limited, Dover Corporation, Flotek Industries, Inc., J J Tech, John Crane Group.

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