Press release
North America Dominated the Global Artificial Lift Market with Highest Market Share
Variant Market Research
Global artificial lift market trends are industry’s inclination and efforts to optimize upstream resources, and the retrieval in crude oil price after recent plunging. The desire to sustain the production rate in a well in count to the cost efficiency, an artificial lift system delivers as compared to tertiary retrieval techniques; the artificial lift market is expected to witness improved revenue in years to come.
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Global artificial lift market has been segmented into type, and geography. Type segment comprises rod lift, electric submersible pump, progressive cavity pump (PCP), gas lift and other types. Rod lift dominated the segment with highest market share in 2016, and is expected to continue its dominance during the forecast period 2016 – 2024. Capability of pumping well down to identical low pressure, simple design, easy operability and less requirement of skilled workforce are the major factors for the market growth of rod lift sub segment.
Get Table of Content (TOC) @ https://www.variantmarketresearch.com/report-categories/energy-mining/artificial-lift-market/toc
Based on geography, the global artificial lift market has been segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). North America is expected to attain the fastest CAGR of 11.1% during the forecast period 2016 - 2024, driven by the expanding needs for oil and gas in various industries. The region also held the largest market share of 47.8% in 2016, due to well-developed economy and increasing demand at highest pace in the country.
The major key players operating in the market are GE Energy, Baker Hughes Incorporated, Halliburton Company, LLC., Dover Corporation, National Oilwell Varco, Inc., Schlumberger Limited, Weatherford International Ltd., Cameron International, Flotek Industries Inc., and Kudu Industries, among others.
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Scope of the Global Artificial Lift Market
Type Segment
• Rod Lift
• Electric Submersible Pump (ESP)
• Progressive Cavity Pump (PCP)
• Gas Lift
• Others
Geographical Segment
• North America
o U.S.
o Canada
o Mexico
• Europe
o UK
o Norway
o Russia
o Others
• Asia Pacific
o China
o India
o Indonesia
o Others
• RoW
o Brazil
o Venezuela
o Saudi Arabia
o Others
About Variant Market Research
Variant Market Research offers syndicated and customized reports to fulfil clients' objectives. We also provide customized data pack proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise is data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
For further information, visit https://www.variantmarketresearch.com
You can connect with us on LinkedIn here @ https://www.linkedin.com/company/variant-market-research
Contact Us:
Michael Mendes
Head - Sales
Variant Market Research
649 Mission St, 5th Floor, San Francisco, CA 94105, United States.
Tel: +1-415-680-2785
Fax: +1-415-680-2786
Email: michael.mendes@variantmarketresearch.com
Email: help@variantmarketresearch.com
Variant Market Research offers syndicated and customized reports to fulfill clients' objectives. We also provide customized data packs proposing market sizing in an Excel/PDF/PowerPoint or Word format as per the requirement of clients. We cover several industry domains, namely Semiconductor & Electronics, Consumer Electronics, Information and Communication Technology, Automotive, Consumer Goods, Food & Beverages, Pharmaceuticals, Medical Devices, Chemicals, Industrial, Mining Equipment, Automation, Manufacturing, Construction, Energy & Power, Defense & Aerospace and Banking, Financial services and Insurance (BFSI). Our expertise are data triangulation, competitor benchmarking, parent market benchmarking, estimating market size and forecast of the market from 2016 to 2024.
Variant Market Research
649 Mission St, 5th Floor,
San Francisco, CA 94105,
United States.
Tel: +1-415-680-2785
Fax: +1-415-680-2786
Email: michael.mendes@variantmarketresearch.com
Email: help@variantmarketresearch.com
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