Artificial Lift System Market Report 2018 Global Industry Statistics & Outlook to 2023
Artificial lift system market holds promising growth potential, with crude oil prices fluctuating drastically the oil extraction companies are forced to optimize their spending. The fluctuations in oil prices affected the profitability of the company. Hence, in order to ensure the financial targets in position, the companies are cutting their operation costs, of which drilling is integral part. Using artificial lifts in order to achieve oil production targets is a cost efficient alternative against the prospect of drilling a new well. The trend of modernizing the oil wells with artificial lift systems would grow in the coming year or two as a measure to improve the efficiency of operating companies.
The market for artificial lifts is primarily driven by increased demand of energy sources and maturing oil fields. Other factors that drive the market are increasing deep/ ultra-deep offshore oil production activities. However, some of the restraints associated with its business attractiveness are a higher project cost as compared to conventional systems and a lack of skilled workforces. This results in a limited impact due to the ability of increasing extraction by artificial lift systems. Additionally, rising subsea drilling activities should contribute to artificial lift adoption in a greater sense.
The commonly used technologies in the market are rod lift, ESP, PCP, plunger, gas lift and others. The other technologies include hydraulic lift and foam lift. Among these types, ESPs account for a larger market size by value due to higher operating volume, fair gas handling and motor driven operation which is convenient to install. Its market is expected to reach to about $9,940 million in size by 2022 growing at CAGR of 6.4%. This rapid growth is supplemented by its excellent corrosion resistance, higher operating temperature and operation based on wells natural energy.
• The report provides an extensive analysis of the factors that drive as well as restrain the growth of the world artificial lift system market.
• The market projections from 2014 to 2022 along with the impacting factors are mentioned in the report.
• The report also provides quantitative as well as qualitative trends to assist the stakeholders understand the market scenario.
• In-depth analyses of the key segments of the market demonstrate the consumption of artificial lift system market in different applications across different end-user industries.
• Competitive intelligence highlights the business practices adopted by the leading market players across various geographies.
• Key market segments
• Rod lift
• Gas lift
• Cable System
• Drive Head
• Pump Jack
• Sucker Rod
• Gas-lift Valves
• Gas-lift Mandrels
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Market Segment by Manufacturers, this report covers –GE Oil & Gas, National Oilwell Varco, Weatherford Plc, Halliburton, Dover Corp., Schlumberger Limited, Tenaris, J J Tech, General Electric Company, Man Diesel & Turbo SE, Ebara Corporation, Mitsubishi Heavy Industries Compressor Corporation, Atlas Copco Energas GmbH, Solar Turbine Inc., Burckhardt Compression Holding AG, Ariel Corporation, Neuman & Esser Group, Hitachi Ltd
Table of Content:
CHAPTER 1. INTRODUCTION
1.1. REPORT DESCRIPTION
1.2. REASON FOR DOING THE STUDY
1.3. KEY MARKET SEGMENTS
1.4. KEY BENEFITS
1.5. RESEARCH METHODOLOGY
1.5.1. Secondary Research
1.5.2. Primary research
1.5.3. Analyst Tools and Models
CHAPTER 2. EXECUTIVE SUMMARY
2.1. CXO PERSPECTIVE
CHAPTER 3. MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2. TOP FACTORS IMPACTING ARTIFICIAL LIFT SYSTEM MARKET
3.2.1. Increasing Demand of Energy Would Drive the Artificial lift system market
3.2.2. Need to Improve Production Efficiency Would Create Favorable Situations for Artificial lift system market
3.2.3. Rising Offshore and Ultra-Deep Offshore Oil Production Would Upsurge the Demand of Artificial Lift
3.2.4. High Cost of Artificial Lift Equipment Would Diminish the Market to Some Extent
3.2.5. The Sufficiency of Skilled Workers Would Improve in the Coming Years
3.3. KEY FINDINGS
3.3.1. Top Investment Pockets
3.3.2. Top Winning Strategies
3.4. PORTERS FIVE FORCES ANALYSIS
3.4.1. Threat of Entrants
3.4.2. Threat of Substitutes
3.4.3. Bargaining Power of Suppliers
3.4.4. Bargaining Power of Buyers
3.4.5. Competitive rivalry
3.5. VALUE CHAIN ANALYSIS
3.5.1. Components Providers
3.6. MARKET SHARE ANALYSIS, 2015
3.7. MARKET DYNAMICS
220.127.116.11. Increasing demand of energy across the world
18.104.22.168. Improving production efficiencies at mature fields
22.214.171.124. Increasing deep, ultra-deep offshore oil production
126.96.36.199. Lack of skilled workers
188.8.131.52. High cost of artificial lift equipment
184.108.40.206. Increasing subsea drilling activities
CHAPTER 4. WORLD ARTIFICIAL LIFT SYSTEM MARKET BY TYPE
4.1.1. Market Size & Forecast
4.2. ROD LIFT
4.2.1. Key Market Trends
4.2.2. Key Growth Factors and Opportunities
4.2.3. Competitive Scenario
4.2.4. Market Size and Forecast
4.3. ELECTRICAL SUBMERSIBLE PUMP (ESP)
4.3.1. Key Market Trends
4.3.2. Key Growth Factors and Opportunities
4.3.3. Competitive Scenario
4.3.4. Market Size and Forecast
4.4. PROGRESSIVE CAVITY PUMPS (PCP)
4.4.1. Key Market Trends
4.4.2. Key Growth Factors and Opportunities
4.4.3. Competitive Scenario
4.4.4. Market Size and Forecast
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