Artificial Lift Market Introduction:
Artificial Lift Market is growing due to decline in oil reservoirs, increase in shale oil and gas production. The recent decline in oil prices is also estimated to increase the demand for production focused services such as pressure pumping, artificial lift and enhanced oil recovery in comparison to drilling services. The unconventional production has transformed the oil and gas industry in North America over the last decade. The tight oil production in U.S. has pushed its crude oil supply to over 10% of world total. There are different types of artificial lifts which include rod lift, electric submersible pumps, progressive cavity pumps, gas lift and others.
Artificial Lift Market to surpass USD 2.2 Billion mark within the next six years.
Artificial Lift Market is estimated to be a lucrative market within the upstream oil & gas industry. It is projected to achieve a resilient growth of about 7% CAGR between 2016 and 2027. The upstream oil & gas sector has been experiencing persistent growth challenges following the decline in oil prices since past two years.
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Artificial Lift Market drivers are increased unconventional oil & gas production, declining reservoirs, and growing number of mature fields. However, strict government regulations environmental concerns are constraining the growth of the artificial lift market. The recent decline in oil prices is estimated to increase the demand for production focused services such as pressure pumping, artificial lift and enhanced oil recovery; as the focus has shifted entirely towards production optimization as comparison to drilling services. Consequently, artificial lifts are expected to experience a rise in demand from owner-operators, independent E&P companies, and other industry stakeholders.
The decline in oil prices has instigated a global lockdown on exploration investments, with most of companies facing huge losses. Oil & Gas companies have increased their emphasis on optimizing operational field production and increasing production efficiency to lower the costs. Such a profound change in the strategic outlook is expected to inevitably instigate an increase in demand for production optimization equipment such as artificial lift systems. However, strict government and regulations and environmental problems associated oil & gas production are inhibiting the growth of the artificial lift market.
This research report has provided the insights, on various levels of analyses such industry analysis, market share analysis leading market players and their profiles. This report also helps in studying the target segments by providing views on emerging & high-growth segments and market conclusion. Together the market data comprise and discuss with the basic assessments on the competitive scenarios & strategies, of the global cold insulation market, including the high-growth regions, countries and their political, economic and technological environments. Furthermore, the project report also provides the views over the historical market values as well as, pricing and cost analysis of the same.
Artificial Lift Market Key Players:
Some of the key players for this market are: Baker Hughes, Borets, Cameron International, Dover Corporation, GE Oil & Gas, Halliburton, John Crane, National Oilwell Varco, Schlumberger, and Weatherford.
Artificial Lift Market Intended Audience:
Submersible Pump manufacturing companies
Oil & gas service providers
Oil & gas industry Consultants and Investment bankers
Government as well as Independent Regulatory Authorities
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Artificial Lift Market Regional Analysis:
North America has been dominating the Global Artificial Lift Market with the largest market share since past few years. It is expected to retain its dominance in the market with a high growth rate. Presence of large shale oil & gas reserves, as well as tight oil reserves is expected to aid the North American market for artificial lift.
The European region held the second largest share within the artificial lift market and is expected to grow at a moderate rate during the forecast period, between 2016 and 2027.
Asia-Pacific market is expected to exhibit a comparatively high growth than Europe. Increasing focus towards development of shale gas projects in countries such as China, and Indonesia is expected to be a major factor driving the Asia-pacific market.
Artificial Lift Market Segments:
The market for Artificial Lift has been segmented based on type of equipment employed for the function. The segmentation involves rod lift, electric submersible pump (ESP), progressive cavity pumps (PCP), gas lift, and others. Other types used include plunger lift, and hydraulic jet pumps which have a small contribution within the artificial lift market.
Artificial Lift Market Table of Content:
1 REPORT PROLOGUE
2 Global Artificial Lift Market 2016-2027: INTRODUCTION
2.2 SCOPE OF THE STUDY
2.2.1 RESEARCH OBJECTIVE
2.3 MARKET STRUCTURE
2.4. MARKET SEGMENTATION
3 Global Artificial Lift Market 2016-2027: RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS
3.3 PRIMARY RESEARCH
3.3 SECONDARY RESEARCH
3.4 MARKET SIZE ESTIMATION
3.5 FORECAST MODEL
4 Global Artificial Lift Market 2016-2027: MARKET DYNAMICS
4.4 MEGA TRENDS
4.5 MACROECONOMIC INDICATORS
4.6 IMPORTANT POINTERS BY INDUSTRY EXPERTS
4.6.1 FASTEST GROWING MARKET
4.6.2 GROWTH PROSPECTS
5 Global Artificial Lift Market 2016-2027: MARKET FACTOR ANALYSIS
5.1 VALUE CHAIN ANALYSIS
Artificial Lift Market Table of Content to be Continue….,
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