India Artificial Lift Systems Market SWOT Analysis 2021 by Top Manufacturers: Schlumberger Ltd, Halliburton Company, Weatherford International plc

Global India Artificial Lift Systems Market Report 2021 – 2025 is a believable source for gaining the market research that will exponentially accelerate your business. SWOT and Porter’s five analyses are also effectively discussed to analyze informative data such as cost, prices, revenue, and end-users. The Report initially provides an overview of the industry that covers definition, applications and technology, post which the report explores into the international players in the market. The report profiles the key players in the industry, along with a detailed analysis of their individual positions against the global landscape. The report also entails the Covid-19 and post-Covid dynamics in the global India Artificial Lift Systems market.

The market for artificial lift systems in India is expected to grow at a CAGR of over 2% during the forecast period of 2020 - 2025. 

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The Top Major Competitive Players are : Schlumberger Ltd, Halliburton Company, Weatherford International plc, Baker Hughes Company, and Penguin Petroleum Services (P) Limited.

Key Market Trends

Electric Submersible Pumps (ESP) to Witness Significant Demand

- India is highly dependent on crude oil imports to fulfill its energy needs. According to the latest government data, the countrys dependence on crude oil imports reaches nearly 82% in 2019.
- The country has witnessed a decline in domestic production. ONGC, which is the major oil producer in the country, is witnessing decline due to technical issues in Mumbai and Neelam Heera fields and less than expected production in Santhal and Balol fields in Gujarat. The decline in production is also the result of aging fields which leads to a fall in the output. Such aging fields are expected to provide the potential to the usage of electric submersible pumps, thus driving the demand for artificial lift systems.
- During April 2000-December 2018, India attracted an FDI investment of about USD 7 billion in the petroleum and natural gas industry. Moreover, foreign investors have opportunities to invest in projects worth USD 300 billion in India, as the country looks to cut reliance on oil imports by 10% by 2022.

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