Press release
How Artificial Lift System Market 2021 is Booming Worldwide with Top Leading Players – Weatherford, Schlumberger Limited, Baker Hughes, Dover Corporation, Borets International, NOV
Highlights of the Report:
While making the artificial lift system market report, we segmented the market on the basis of product, type, consumption, distribution channel, and region. Based on the segmentation, we made a list of companies and conducted a detailed analysis of their financial positions, product portfolios, and growth strategies. Our next step included the study of core competencies of key players and their market share to anticipate the degree of competition. The bottom-up procedure was conducted to arrive at the overall size of the market.
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Key Industry Developments
In February 2019, Tenaris will inaugurate a facility specially designed for sucker rod manufacturing in Conroe, Texas. The new facility will be functional by July 2019 with advanced technologies to optimize efficiencies and reduce production time.
In December 2019, Baker Hughes is pleased to announce the inauguration of its first artificial lift assembly, repair facility in Oman to support Petroleum Development Oman (PDO) operations and other customers in the region aiming to optimize production, cutting cost, and enhancing oil production.
In July 2019, Well Master Corporation has pleased to announce acquisition of leading provider of optimization solution T-Ram Canada Inc.
Tenaris, Quick Connector, Inc., and Other Key Players Emphasize on Product Launches to Strengthen Positions
Quick Connector, Inc., a prominent provider of artificial lift wellhead solutions, based in the U.S.A., announced the launch of their new product called QCI Gas Lift Wellhead Hanger and Adapter in May 2019. The product provides numerous benefits and features for gas lift completions. It also prevents the delay and cost of sourcing through traditional wellhead supplier. Tenaris, a manufacturer and supplier of steel pipes, revealed in February 2019 that it will be opening its sucker rod facility in Texas. The facility will will offer modern technologies to decrease production time and enhance efficiency. Earlier, in December 2019, Baker Hughes, a full stream gas and oil company joined hands with Petroleum Development Oman and declared the inauguration of its first ever artificial repair facility and lift assembly. Its main aim was to support PDO’s operations. It also targets those customers residing in the region who are looking for cost reduction, and efficient oil production.
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"A Rise in the Number of Exploration Activities Likely to Boost Growth in European Countries"
Geographically, the global Artificial Lift System market is divided into Latin America, Europe, North America, the Middle East and Africa, and Asia Pacific. Amongst these regions, in North America, the U.S. currently holds the largest share of artificial list system market, accounting more than 40% artificial lifts distributed in the world. There has been a rise in the number of gas and oil exploration activities combined with technological advancements that has boosted the market in this continent. Fortune Business Insights states that in North America, countries namely, Alaska, Texas, North Dakota, and Permian region are anticipated to witness growth of the Artificial Lift System during the forecast period. This is because the production in these regions have recently reached at a peak level. On the other hand, Europe is predicted to exhibit considerable growth likely due to the increasing number of exploration that have been taking place in the North Sea region.
Top Players Overview Artificial lift system market report:
Weatherford
Schlumberger Limited
Baker Hughes
Dover Corporation
Borets International
National Oilwell Varco
Halliburton
Summit ESP, LLC
John Crane
SPOC Automation
Flotek Industries
Quick Connector, Inc.
Queries Addressed In Artificial Lift System Market Report:
What opportunities are present for the market players to enhance their business footprint?
What manufacturing techniques are being implemented in the development of advanced Construction Equipment?
Which segment is witnessing huge traction from the consumers?
For what purposes, is the market being utilized?
How many units are estimated to be sold in 2019?
"Ability to Handle Harsh Conditions Increases Demand for Propel Electrical Submersible Pumps"
The report classifies the global artificial lift system into three segments, namely, by application, by type, and by geography. In terms of application, the market is further grouped into onshore and offshore. By type, the market is classified into sucker rod pump, gas lift, progressive cavity pump, hydraulic pumps, electrical submersible pumps, and others. Amongst these types of pumps, the electrical submersible pump is the most massively adopted pump across the globe. This is due to the fact that these pumps are perfectly abled to operate in harsh environmental conditions. Furthermore, they can handle a high volume of flow rate. They hold more than 40% of the global artificial list system market.
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Lastly, this report covers the market landscape and its growth prospects over the coming years, the Report also brief deals with the product life cycle, comparing it to the relevant products from across industries that had already been commercialized details the potential for various applications, discussing about recent product innovations and gives an overview on potential regional market shares.
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Table of Content:
1 Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2 Executive Summary
3 Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4 Key Insights
4.1. Key Emerging Trends – For Major Countries
4.2. Key Developments: Mergers, Acquisition, Partnership, etc.
4.3. Latest Technological Advancement
4.4. Insights on Regulatory Scenario
4.5. Porters Five Forces Analysis
5 Global Artificial Lift Systems Market Analysis, Insights and Forecast, 2015-2026
5.1. Key Findings
5.2. Market Analysis, Insights and Forecast – By Type
5.2.1. Electric Submersible Pump
5.2.2. Sucker Rod Pump
5.2.3. Progressive Cavity Pump
5.2.4. Gas Lift
5.2.5. Others
5.3. Market Analysis, Insights and Forecast – By Application
5.3.1. Onshore
5.3.2. Offshore
6 North America Artificial Lift Systems Market Analysis, Insights and Forecast, 2015-2026
6.1. Key Findings
6.2. Market Analysis, Insights and Forecast – By Type
6.2.1. Electric Submersible Pump
6.2.2. Sucker Rod Pump
6.2.3. Progressive Cavity Pump
6.2.4. Gas Lift
6.2.5. Others
6.3. Market Analysis, Insights and Forecast – By Application
6.3.1. Onshore
6.3.2. Offshore
6.4. Market Analysis, Insights and Forecast – By Country
6.4.1. U.S.
6.4.2. Canada
7 Europe Artificial Lift Systems Market Analysis, Insights and Forecast, 2015-2026
7.1. Key Findings
7.2. Market Analysis, Insights and Forecast – By Type
7.2.1. Electric Submersible Pump
7.2.2. Sucker Rod Pump
7.2.3. Progressive Cavity Pump
7.2.4. Gas Lift
7.2.5. Others
7.3. Market Analysis, Insights and Forecast – By Application
7.3.1. Onshore
7.3.2. Offshore
7.4. Market Analysis, Insights and Forecast – By Country
7.4.1. UK
7.4.2. Germany
7.4.3. France
7.4.4. Italy
7.4.5. Norway
7.4.6. Russia
7.4.7. Rest of Europe
TOC Continued https://www.fortunebusinessinsights.com/industry-reports/toc/artificial-lift-system-market-100467
Contact:
Name: Ashwin Arora
Email: sales@fortunebusinessinsights.com
Phone: US +1 424 253 0390 / UK +44 2071 939123 / APAC: +91 744 740 1245
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
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