Press release
Artificial Lift Market Size, Share, Price | Industry Report 2021
Artificial Lift
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The artificial lift market is projected to reach USD 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 lack of skilled labour is likely to hinder market growth of artificial lift systems, as implementation of artificial lift methods require knowledge of various parameters such as well bore geometry, bottom hole pressure, and so on.
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. The production efficiency of ESP is sustained even at depths of about 4,000 m. Its sustained performance and high operating volumes provides it a competitive edge over the other pumps.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. 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%
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Key points from table of content:
Company Profiles :
10.1 Introduction
10.2 Schlumberger Limited
10.2.1 Business Overview
10.2.2 Products/Services Offered
10.2.3 Developments, 2016
10.2.4 SWOT Analysis
10.2.5 MnM View
10.3 Weatherford International PLC
10.3.1 Business Overview
10.3.2 Products Offered
10.3.3 Developments, 2014–2016
10.3.4 SWOT Analysis
10.3.5 MnM View
10.4 Baker Hughes Incorporated
10.4.1 Business Overview
10.4.2 Products/Services Offered
10.4.3 Developments, 2015–2016
10.4.4 SWOT Analysis
10.4.5 MnM View
10.5 General Electric Company
10.5.1 Business Overview
10.5.2 Products/Services Offered
10.5.3 Developments, 2015–2016
10.5.4 SWOT Analysis
10.5.5 MnM View
10.6 Halliburton Company
10.6.1 Business Overview
10.6.2 Products/Services Offered
10.6.3 Developments, 2014–2016
10.6.4 SWOT Analysis
10.6.5 MnM View
Scope of the Report:
• By Type : The artificial lift market has been segmented based on type into electrical submersible pumps, rod lift, progressive cavity pumps, gas lift, and others. Others include hydraulic pumping systems and plunger lift.
• By Mechanism : The artificial lift market has been segmented based on mechanism into pump assisted and gas assisted. The pump assisted segment further includes positive displacement and dynamic displacement.
• By Application : The artificial lift market has been segmented based on application into onshore and offshore
• By Region : The global artificial lift market is analyzed with respect to five regions, namely, North America, Europe, Asia-Pacific, South & Central America, and the Middle East &Africa.
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