Artificial Lift Market

Artificial Lift Market by Type (ESP, PCP, Rod Lift, Gas Lift), Mechanism (Pump Assisted (Positive Displacement, Dynamic Displacement), Gas Assisted), Well Type (Horizontal, Vertical), Application (Onshore, Offshore) and Region - Global Forecast to 2027

Report Code: EP 3045 Sep, 2022, by marketsandmarkets.com

[274 Pages Report] The artificial lift market is projected to grow from an estimated USD 6.9 billion in 2022 to USD 8.7 billion by 2027, at a CAGR of 4.8% during the forecast period. The decline in CAPEX spending by key global oilfield operators and oilfield service providers is a major factor restraining the growth of the artificial lift market.

Artificial Lift Market

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COVID-19 Impact on Artificial Lift Market

The worldwide spread of COVID-19 has slowed down the growth of numerous industries. The effects of the COVID-19 pandemic, including actions taken by businesses and governments to contain the spread of the virus, have resulted in a significant and swift reduction in demand for oil and gas. As of February 07, 2022, 223 countries have been impacted by the pandemic, and the governments of individual countries have ordered nationwide lockdowns. This has resulted in a considerable decline in transportation and related activities, hampering the demand for oil and gas. According to the IEA report, the geopolitical events increased the supply of low-priced oil to the global market, and at the same time, the demand declined due to the outbreak of the pandemic, leading to a collapse in oil prices in March 2020. These events together hampered the demand for oil and natural gas, as well as for oil field services and products, and caused significant volatility in oil prices. As of December 31, 2019, West Texas Intermediate’s (WTI) oil price was at USD 61.1, and by March 23, 2020, it was at USD 23.4, falling by more than 60.0%. As of April 2020, OPEC and other oil-producing countries had agreed to reduce oil production by 10 million bpd, which is about 23.0% of their production levels.

The effects of the pandemic have led to disruptions in upstream oil and gas operations, such as exploration and production. The crisis has forced some existing production facilities to halt their operations, as low oil prices are uneconomical for production. Additionally, a rapid build-up of oil stocks has saturated the available storage capacity in some parts of the world, even leading to negative prices. Several artificial lift providers had filed for bankruptcy protection and are restructuring capital assets. Besides, they have witnessed sharp declines in revenue in 2020 compared to 2019. For instance, in 2020, Halliburton (US) reported a 55.1% decrease in its revenue, whereas Schlumberger (US), Baker Hughes (US), and Weatherford (US) witnessed a decline of 39.5%, 15.1%, and 34.5%, respectively, in their annual revenues.

Market Trends

Artificial Lift Market Size, and Share

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Market Dynamics

Driver: Heavy oil production

Heavy oil is liquid petroleum of less than 20°API gravity or more than 200 cP viscosity at reservoir conditions. Heavy oil is typically heated to lower its viscosity and pump it to the surface. The most commonly used form of artificial lift for extracting heavy oil is Progressive Cavity Pumps (PCPs). PCPs offer cost-effective production for sandy and viscous oil wells. Other forms of artificial lift to efficiently lift viscous oils that encourage heavy oil production include rod pumps and jet pumps. Significant heavy oil reserves are present in Canada, Venezuela, Mexico, China, and Colombia. Canada and Venezuela are key countries involved in the production of heavy oil globally. Thus, production activities in these countries are driving the artificial lift market. One of the primary methods of heavy oil production is the thermal recovery process, such as Steam Assisted Gravity Drainage (SAGD). Equipment abrasion and flow assurance are the two main challenges in SAGD, thereby requiring the accompaniment of artificial lifts for successful completion. Therefore, the continuous production of heavy oil in Canada, Venezuela, Mexico, China, and Colombia is driving the artificial lift market in these countries.

Restraints: Decreasing CAPEX of oilfield operators and upstream service providers

Activities such as upstream exploration, development, and production, in addition to the capital investments by oil & gas players, are the major determinants of artificial lift demand. These activities are impacted by the oil & gas price fluctuations. In addition to the supply and demand of oil & gas resources, factors such as government regulations and policies concerning upstream E&P activities, weather conditions, and natural disasters also influence the price of the oil & gas resources. The oil and gas companies may reduce or defer major expenditures based on the perception of long-term low oil and natural gas prices, as many large-scale development projects initiated are for a long duration. The prolonged reduction in crude oil prices or expectations of such reduction is expected to hamper the growth of the artificial lift market.

Furthermore, the growth of the artificial lift market is directly affected by the decline in capital expenditures by oilfield operators and service providers, leading to a decrease in demand for artificial lift systems.

Opportunities: Digitalization and automation

Well-related problems ranging from small leaks to structural failures have steadily increased over the past decade due to aging fields and the rising complexity of wells. These well integrity issues have led oil and gas companies to focus more on safety. Thus, they are adopting new digitization strategies to restructure their operations, which will enable them to perform a better analysis of well conditions and reduce operational costs.

The oilfield service providers are designing and developing new and enhanced oil recovery solutions to meet the rising demand for completion and intervention solutions from upstream operators in the artificial lift market. Oilfield service providers such as Schlumberger and Halliburton are capitalizing on their capabilities to enhance their portfolio and operations through digitalization and automation. For instance, in 2017, Schlumberger introduced a cloud-based SaaS that helps users optimize their E&P assets. Similarly, in 2020, Baker Hughes, in collaboration with C3, launched BHC3, an AI-based production optimization solution with well integrity & health monitoring/assessment features.

Challenges: Application of ALMs in horizontal wells

Most of the existing oil & gas wells were vertically drilled. Aging vertical wells require ALMs to produce liquid hydrocarbons and/or dewater the gas wells. Nowadays, horizontal drilling is becoming more popular, and artificial lift service providers are facing challenges in using ALMs in horizontal wells. Applying ALMs in shale assets with deep and long horizontal sections can be challenging. Most of the ALMs are designed to work in vertical sections of the wells. So, these methods must be developed to sweep and lift fluids from the deviated and/or horizontal portions. Water, which is used to fracture the wells, is produced back from the formations to reduce backpressure and clear flow paths for gas and oil production. Often some of the sand used to cover fracture openings is produced with this water during formations. Both water and sand must be artificially lifted from the wells.

Several methods of artificial lift have been deployed in these wells, ranging from rod pumps to electric submersible pumps and gas lifts. Some have proven to be more successful than others, depending on the application. All these lift methods are time-proven to produce oil & gas from vertical and deviated wellbores, and companies are trying to execute the lessons learned from these experiences to produce oil from horizontal wells.

By type, the rod lift segment is expected to grow at the highest rate during the forecast period.

The rod lift segment, owing to its increasing applications in onshore applications, is expected to grow at the highest rate during the forecast period. This high growth is further reinforced by the developments pertaining to unconventional oil & gas resources.

By mechanism, the pump assisted segment is expected to register a higher CAGR than the gas assisted segment during the forecast period.

The high growth rate of the pump assisted segment, which includes both positive displacement and dynamic displacement pumps, can be attributed to the increasing adoption of electric submersible pumps and progressive cavity pumps. The technological advancements across these pumps will further have a positive effect on the growth of the pump assisted mechanism segment.

By application, the offshore segment is projected to register a higher CAGR than the onshore segment during the forecast period.

The offshore segment of the artificial lift market is expected to grow at a higher CAGR than the onshore segment during the forecast period. The higher growth rate can be attributed to the rise in upstream activities pertaining to the deepwater and ultra-deepwater fields.

North America is expected to be the largest market during the forecast period.

North America is expected to be the largest and the fastest-growing market for artificial lift systems during the forecast period. The market growth in this region is characterized by rising upstream activities related to unconventional oil & gas resources like shale & tight oil and gas sources.

Artificial Lift Market Size, and Share

Key Market Players

The major players in the artificial lift market are Schlumberger Limited (US), Halliburton (US), Baker Hughes Company (US), NOV Inc (US), and Weatherford (US).

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Scope of the Report

Report Metric

Details

Market size available for years

2016–2027

Base year considered

2021

Forecast period

2022–2027

Forecast units

Value (USD)

Segments covered

Type, Mechanism, Well Type, Application, and Region

Geographies covered

Asia Pacific, North America, South America, Europe, and Middle East & Africa

Companies covered

Schlumberger Limited (US), Baker Hughes Company (US), Halliburton (US), NOV Inc. (US), Weatherford (US), Ebara Corporation (Japan), Borets (UAE), DistributionNow (US), ChampionX (US), JJ TECH (US), OilSERV (UAE), Novomet (Russia), and Cairn Oil and Gas (India), among others.

This research report categorizes the artificial lift market based on type, mechanism, well type, application, and region

 Based on type, the artificial lift market has been segmented as follows:

  • Rod Lift
  • Electric Submersible Pumps
  • Progressive Cavity Pumps
  • Gas Lift Systems
  • Others

Based on mechanism, the artificial lift market has been segmented as follows:

  • Pump Assisted
    • Positive Displacement
    • Dynamic Displacement
  • Gas Assisted

Based on well type, the artificial lift market has been segmented as follows:

  • Horizontal
  • Vertical

Based on application, the artificial lift market has been segmented as follows:

  • Onshore
  • Offshore

Based on the region, the artificial lift market has been segmented as follows:

  • North America
  • South America
  • Asia Pacific
  • Europe
  • Middle East & Africa

Recent Developments

  • In January 2022, Unbridled ESP systems, a subsidiary of ChampionX, introduced High Rise series pumps for minimizing carbon emissions during ESP operations. This product is used in unconventional well-completion operations.
  • In November 2021, Halliburton signed an MOU with Cairn Oil & Gas, one of the leading oil and gas exploration and production companies. Under this partnership, both companies will jointly develop new technologies to help Cairn Oil & Gas to achieve its target of increasing recoverable reserve to 300 mmboe from 30 mmboe. This partnership will help Cairn Oil & Gas increase its domestic production of crude oil.
  • In October 2021, Baker Hughes inaugurated a regional hub of oilfield services (OFS) located in King Salman Energy Park (SPARK). The new facility will support ongoing customer activities for three OFS product lines, ensuring high-quality service delivery and positioning BHGE for future growth in the region.
  • In September 2021, Schlumberger Limited entered into an agreement with AVEVA to integrate Agora edge technologies and cloud-based digital solutions to help the oil operators optimize their oil & gas production.
  • In August 2021, Schlumberger Limited introduced Optic*Schlumberger fiber-optic solution. It provides instantaneous and continuous measurement and gives actionable insights, which leads to higher efficiency, operational performance, and reduced environmental impact.

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 33)
    1.1 STUDY OBJECTIVES
    1.2 MARKET DEFINITION AND SCOPE
           1.2.1 INCLUSIONS AND EXCLUSIONS
    1.3 MARKET SCOPE
           1.3.1 MARKETS COVERED
           1.3.2 REGIONAL SCOPE
           1.3.3 YEARS CONSIDERED
    1.4 CURRENCY
    1.5 LIMITATIONS
    1.6 STAKEHOLDERS
    1.7 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 38)
    2.1 RESEARCH DATA
           FIGURE 1 ARTIFICIAL LIFT MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key data from primary sources
                    2.1.2.2 Breakdown of primaries
                               FIGURE 2 BREAKDOWN OF PRIMARIES
    2.2 MARKET BREAKDOWN AND DATA TRIANGULATION
           FIGURE 3 DATA TRIANGULATION METHODOLOGY
    2.3 MARKET SIZE ESTIMATION
           2.3.1 BOTTOM-UP APPROACH
                    FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
           2.3.2 TOP-DOWN APPROACH
                    FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
    2.4 DEMAND-SIDE ANALYSIS
           2.4.1 KEY INFLUENCING FACTORS/DRIVERS
                    2.4.1.1 Well count
                    2.4.1.2 Rig count
                               FIGURE 6 CRUDE OIL PRICE VS. RIG COUNT
                    2.4.1.3 Production
                               FIGURE 7 OPERATIONAL WELL COUNT VS. CRUDE OIL PRODUCTION
                    2.4.1.4 Crude oil prices
                               FIGURE 8 CRUDE OIL PRICE TREND
           2.4.2 DEMAND-SIDE METRICS
                               FIGURE 9 METRICS CONSIDERED FOR ANALYZING AND ASSESSING DEMAND FOR ARTIFICIAL LIFTS
                    2.4.2.1 Assumptions for demand-side analysis
    2.5 SUPPLY-SIDE ANALYSIS
           FIGURE 10 METRICS CONSIDERED FOR ASSESSING SUPPLY OF ARTIFICIAL LIFT MARKET
           FIGURE 11 SUPPLY-SIDE ANALYSIS
           2.5.1 CALCULATIONS FOR SUPPLY SIDE
           2.5.2 ASSUMPTIONS FOR SUPPLY SIDE
    2.6 FORECAST

3 EXECUTIVE SUMMARY (Page No. - 52)
    TABLE 1 ARTIFICIAL LIFT MARKET SNAPSHOT
    FIGURE 12 ROD LIFTS SEGMENT TO GROW AT HIGHEST CAGR FROM 2022 TO 2027
    FIGURE 13 PUMP-ASSISTED SEGMENT TO DOMINATE ARTIFICIAL LIFT MARKET IN 2022
    FIGURE 14 HORIZONTAL SEGMENT TO REGISTER HIGHEST GROWTH FROM 2022 TO 2027
    FIGURE 15 ONSHORE SEGMENT WILL CONTINUE TO DOMINATE ARTIFICIAL LIFT MARKET IN 2027
    FIGURE 16 NORTH AMERICA DOMINATED ARTIFICIAL LIFT MARKET IN 2021

4 PREMIUM INSIGHTS (Page No. - 56)
    4.1 ATTRACTIVE OPPORTUNITIES IN ARTIFICIAL LIFT MARKET
           FIGURE 17 REDEVELOPMENT OF MATURE OILFIELDS ALONG WITH NEW OFFSHORE OILFIELD DISCOVERIES TO DRIVE MARKET
    4.2 ARTIFICIAL LIFT MARKET, BY REGION
           FIGURE 18 NORTH AMERICA TO WITNESS HIGHEST GROWTH DURING FORECAST PERIOD
    4.3 ARTIFICIAL LIFT MARKET SHARE, BY TYPE
           FIGURE 19 ROD LIFTS SEGMENT ACCOUNTED FOR LARGEST MARKET SHARE IN 2021
    4.4 ARTIFICIAL LIFT MARKET SHARE, BY MECHANISM
           FIGURE 20 PUMP-ASSISTED SEGMENT DOMINATED MARKET IN 2021
    4.5 ARTIFICIAL LIFT MARKET SHARE, BY WELL TYPE
           FIGURE 21 VERTICAL WELL SEGMENT DOMINATED ARTIFICIAL LIFT MARKET, BY WELL TYPE, IN 2021
    4.6 ARTIFICIAL LIFT MARKET SHARE, BY APPLICATION
           FIGURE 22 ONSHORE LARGEST APPLICATION SEGMENT OF MARKET
    4.7 NORTH AMERICA: ARTIFICIAL LIFT MARKET, BY APPLICATION AND COUNTRY
           FIGURE 23 ONSHORE APPLICATION ACCOUNTED FOR LARGEST MARKET SHARE IN 2021

5 MARKET OVERVIEW (Page No. - 59)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
           FIGURE 24 ARTIFICIAL LIFT MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.2.1 DRIVERS
                    5.2.1.1 Advancements in upstream activities concerning unconventional oil & gas reserves
                    5.2.1.2 Growing requirement for maximizing production potential of mature fields
                    5.2.1.3 Increase in global oil demand
                               FIGURE 25 GLOBAL OIL DEMAND, 2019–2026
                               TABLE 2 GLOBAL OIL DEMAND (OECD VS. NON-OECD), 2019–2026
                    5.2.1.4 Rise in heavy oil production
           5.2.2 RESTRAINTS
                    5.2.2.1 Decreasing Capex of oilfield operators and upstream service providers
                               FIGURE 26 CAPITAL EXPENDITURE OF OILFIELD OPERATORS, 2017–2021
                               FIGURE 27 CAPITAL EXPENDITURE OF OIL & GAS SERVICE PROVIDERS, 2016–2021
           5.2.3 OPPORTUNITIES
                    5.2.3.1 New oilfield discoveries
                    5.2.3.2 Digitalization and automation
           5.2.4 CHALLENGES
                    5.2.4.1 Transition toward adoption of renewable energy sources
                               FIGURE 28 RENEWABLE CAPACITY ADDITIONS, BY COUNTRY/REGION, 2019–2021
                    5.2.4.2 Application of ALMs in horizontal wells
                               TABLE 3 HORIZONTAL WELL: ARTIFICIAL LIFT METHODS
    5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
           5.3.1 REVENUE SHIFT AND NEW REVENUE POCKETS IN ARTIFICIAL LIFT MARKET
                    FIGURE 29 REVENUE SHIFT OF ARTIFICIAL LIFT SERVICE PROVIDERS
    5.4 SUPPLY CHAIN ANALYSIS
           FIGURE 30 SUPPLY CHAIN ANALYSIS
           5.4.1 RAW MATERIAL SUPPLIERS
           5.4.2 ARTIFICIAL LIFT MANUFACTURERS
           5.4.3 ARTIFICIAL LIFT SERVICE PROVIDERS
           5.4.4 OILFIELD OPERATORS
    5.5 ECOSYSTEM/MARKET MAP
           TABLE 4 ARTIFICIAL LIFT MARKET ECOSYSTEM
    5.6 KEY CONFERENCES AND EVENTS
           TABLE 5 LIST OF CONFERENCES AND EVENTS IN ARTIFICIAL LIFT MARKET, 2022–2023
    5.7 REGULATORY ANALYSIS
           5.7.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 6 NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 7 EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 8 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS, BY COUNTRY
                    TABLE 9 ARTIFICIAL LIFT MARKET: REGULATIONS
    5.8 PATENT ANALYSIS
    5.9 PORTER’S FIVE FORCES ANALYSIS
           FIGURE 31 ARTIFICIAL LIFT MARKET: PORTER’S FIVE FORCES ANALYSIS
           TABLE 10 ARTIFICIAL LIFT MARKET: PORTER’S FIVE FORCES ANALYSIS
           5.9.1 THREAT OF NEW ENTRANTS
           5.9.2 BARGAINING POWER OF SUPPLIERS
           5.9.3 BARGAINING POWER OF BUYERS
           5.9.4 THREAT OF SUBSTITUTES
           5.9.5 DEGREE OF COMPETITION
    5.10 TECHNOLOGY ANALYSIS
    5.11 PRICING ANALYSIS
                    FIGURE 32 ARTIFICIAL LIFT OPEX, BY TYPE (USD)
    5.12 KEY STAKEHOLDERS AND BUYING CRITERIA
           5.12.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 33 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS
                    TABLE 11 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS (%)
           5.12.2 BUYING CRITERIA
                    FIGURE 34 KEY BUYING CRITERIA FOR ARTIFICIAL LIFT TYPES
                    TABLE 12 KEY BUYING CRITERIA FOR ARTIFICIAL LIFT TYPES
    5.13 CASE STUDY ANALYSIS
           5.13.1 NOVOMET’S IMPACTFUL PERFORATION SOLUTION IN ECUADOR
                    TABLE 13 IMPORT DATA FOR ROTARY PUMPS, 2019–2021 (USD MILLION)
                    TABLE 14 EXPORT DATA FOR ROTARY PUMPS, 2019–2021 (USD MILLION)

6 ARTIFICIAL LIFT MARKET, BY TYPE (Page No. - 81)
    6.1 INTRODUCTION
           TABLE 15 COMPARISON OF ARTIFICIAL LIFT METHODS
           FIGURE 35 ARTIFICIAL LIFT MARKET SHARE, BY TYPE, 2021
           TABLE 16 ARTIFICIAL LIFT MARKET, BY TYPE, 2016–2019 (USD MILLION)
           TABLE 17 ARTIFICIAL LIFT MARKET, BY TYPE, 2020–2027 (USD MILLION)
    6.2 ROD LIFTS
           6.2.1 RISE IN USE OF ARTIFICIAL ROD LIFTS IN OIL & GAS INDUSTRY FOR OIL DRILLING
                    TABLE 18 ROD LIFTS: ARTIFICIAL LIFT MARKET, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 19 ROD LIFTS: ARTIFICIAL LIFT MARKET, BY REGION, 2020–2027 (USD MILLION)
    6.3 ELECTRICAL SUBMERSIBLE PUMPS
           6.3.1 EFFICIENT MANUFACTURING DESIGN AND OPERATIONAL CHARACTERISTICS TO SUPPORT ADOPTION
                    TABLE 20 ELECTRICAL SUBMERSIBLE PUMPS: ARTIFICIAL LIFT MARKET, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 21 ELECTRICAL SUBMERSIBLE PUMPS: ARTIFICIAL LIFT MARKET, BY REGION, 2020–2027 (USD MILLION)
    6.4 GAS LIFT SYSTEMS
           6.4.1 LOW OPERATING COSTS TO BOOST MARKET GROWTH
                    TABLE 22 GAS LIFT SYSTEMS: ARTIFICIAL LIFT MARKET, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 23 GAS LIFT SYSTEMS: ARTIFICIAL LIFT MARKET, BY REGION, 2020–2027 (USD MILLION)
    6.5 PROGRESSIVE CAVITY PUMPS
           6.5.1 DEMAND FOR PROGRESSIVE CAVITY PUMPS IN SHALLOW WELLS EXPECTED TO RISE
                    TABLE 24 PROGRESSIVE CAVITY PUMPS: ARTIFICIAL LIFT MARKET, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 25 PROGRESSIVE CAVITY PUMPS: ARTIFICIAL LIFT MARKET, BY REGION, 2020–2027 (USD MILLION)
    6.6 OTHERS
           TABLE 26 OTHERS: ARTIFICIAL LIFT MARKET, BY REGION, 2016–2019 (USD MILLION)
           TABLE 27 OTHERS: ARTIFICIAL LIFT MARKET, BY REGION, 2020–2027 (USD MILLION)

7 ARTIFICIAL LIFT MARKET, BY MECHANISM (Page No. - 90)
    7.1 INTRODUCTION
           FIGURE 36 ARTIFICIAL LIFT MARKET SHARE, BY MECHANISM, 2021
           TABLE 28 ARTIFICIAL LIFT MARKET, BY MECHANISM, 2016–2019 (USD MILLION)
           TABLE 29 ARTIFICIAL LIFT MARKET, BY MECHANISM, 2020–2027 (USD MILLION)
    7.2 PUMP ASSISTED
           TABLE 30 PUMP ASSISTED: ARTIFICIAL LIFT MARKET, BY MECHANISM, 2016–2019 (USD MILLION)
           TABLE 31 PUMP ASSISTED: ARTIFICIAL LIFT MARKET, BY MECHANISM, 2020–2027 (USD MILLION)
           TABLE 32 PUMP ASSISTED: ARTIFICIAL LIFT MARKET, BY REGION, 2016–2019 (USD MILLION)
           TABLE 33 PUMP ASSISTED: ARTIFICIAL LIFT MARKET, BY REGION, 2020–2027 (USD MILLION)
           7.2.1 POSITIVE DISPLACEMENT
                    7.2.1.1 Increasing adoption of rod lift pumps and PCPs in North America and Middle East & Africa to drive market
                               TABLE 34 POSITIVE DISPLACEMENT: PUMP-ASSISTED ARTIFICIAL LIFT MARKET, BY REGION, 2016–2019 (USD MILLION)
                               TABLE 35 POSITIVE DISPLACEMENT: PUMP-ASSISTED ARTIFICIAL LIFT MARKET, BY REGION, 2020–2027 (USD MILLION)
           7.2.2 DYNAMIC DISPLACEMENT
                    7.2.2.1 Rise in multistage drilling operations to drive market
                               TABLE 36 DYNAMIC DISPLACEMENT: PUMP-ASSISTED ARTIFICIAL LIFT MARKET, BY REGION, 2016–2019 (USD MILLION)
                               TABLE 37 DYNAMIC DISPLACEMENT: PUMP-ASSISTED ARTIFICIAL LIFT MARKET, BY REGION, 2020–2027 (USD MILLION)
    7.3 GAS ASSISTED
           7.3.1 MORE VERTICAL GAS WELLS ADOPTING GAS-ASSISTED SYSTEMS
                    TABLE 38 GAS ASSISTED: ARTIFICIAL LIFT MARKET, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 39 GAS ASSISTED: ARTIFICIAL LIFT MARKET, BY REGION, 2020–2027 (USD MILLION)

8 ARTIFICIAL LIFT MARKET, BY WELL TYPE (Page No. - 97)
    8.1 INTRODUCTION
           FIGURE 37 ARTIFICIAL LIFT MARKET SHARE, BY WELL TYPE, 2021
           TABLE 40 ARTIFICIAL LIFT MARKET, BY WELL TYPE, 2016–2019 (USD MILLION)
           TABLE 41 ARTIFICIAL LIFT MARKET, BY WELL TYPE, 2020–2027 (USD MILLION)
    8.2 HORIZONTAL
           8.2.1 ESPS, JET PUMPS, AND PCPS USED IN HORIZONTAL WELL DRILLING
                    TABLE 42 HORIZONTAL WELL: ARTIFICIAL LIFT MARKET, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 43 HORIZONTAL WELL: ARTIFICIAL LIFT MARKET, BY REGION, 2020–2027 (USD MILLION)
    8.3 VERTICAL
           8.3.1 VERTICAL WELL DRILLING CONSIDERED CONVENTIONAL METHOD OF OIL & GAS EXTRACTION
                    TABLE 44 VERTICAL WELL: ARTIFICIAL LIFT MARKET, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 45 VERTICAL WELL: ARTIFICIAL LIFT MARKET, BY REGION, 2020–2027 (USD MILLION)

9 ARTIFICIAL LIFT MARKET, BY APPLICATION (Page No. - 101)
    9.1 INTRODUCTION
           FIGURE 38 ARTIFICIAL LIFT MARKET SHARE, BY APPLICATION, 2021
           TABLE 46 ARTIFICIAL LIFT MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
           TABLE 47 ARTIFICIAL LIFT MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
    9.2 ONSHORE
           9.2.1 REDEVELOPMENT OF MATURE ONSHORE OILFIELDS ALONG WITH GROWING SHALE ACTIVITIES TO DRIVE MARKET
                    TABLE 48 ONSHORE: ARTIFICIAL LIFT MARKET, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 49 ONSHORE: ARTIFICIAL LIFT MARKET, BY REGION, 2020–2027 (USD MILLION)
    9.3 OFFSHORE
           9.3.1 MATURING SHALLOW OILFIELDS DRIVING OFFSHORE ARTIFICIAL LIFT MARKET
                    TABLE 50 OFFSHORE: ARTIFICIAL LIFT MARKET, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 51 OFFSHORE: ARTIFICIAL LIFT MARKET, BY REGION, 2020–2027 (USD MILLION)

10 ARTIFICIAL LIFT MARKET, BY REGION (Page No. - 105)
     10.1 INTRODUCTION
               FIGURE 39 ARTIFICIAL LIFT MARKET SHARE, BY REGION, 2021
               FIGURE 40 NORTH AMERICA LARGEST AND FASTEST-GROWING MARKET
     10.2 NORTH AMERICA
               FIGURE 41 NORTH AMERICA: ARTIFICIAL LIFT MARKET SNAPSHOT
             10.2.1 BY TYPE
                       TABLE 54 NORTH AMERICA: ARTIFICIAL LIFT MARKET, BY TYPE, 2016–2019 (USD MILLION)
                       TABLE 55 NORTH AMERICA: ARTIFICIAL LIFT MARKET, BY TYPE, 2020–2027 (USD MILLION)
             10.2.2 BY MECHANISM
                       TABLE 56 NORTH AMERICA: ARTIFICIAL LIFT MARKET, BY MECHANISM, 2016–2019 (USD MILLION)
                       TABLE 57 NORTH AMERICA: ARTIFICIAL LIFT MARKET, BY MECHANISM, 2020–2027 (USD MILLION)
             10.2.3 BY PUMP-ASSISTED MECHANISM
                       TABLE 58 NORTH AMERICA: ARTIFICIAL LIFT MARKET, BY PUMP-ASSISTED MECHANISM, 2016–2019 (USD MILLION)
                       TABLE 59 NORTH AMERICA: ARTIFICIAL LIFT MARKET, BY PUMP-ASSISTED MECHANISM, 2020–2027 (USD MILLION)
             10.2.4 BY WELL TYPE
                       TABLE 60 NORTH AMERICA: ARTIFICIAL LIFT MARKET, BY WELL TYPE, 2016–2019 (USD MILLION)
                       TABLE 61 NORTH AMERICA: ARTIFICIAL LIFT MARKET, BY WELL TYPE, 2020–2027 (USD MILLION)
             10.2.5 BY APPLICATION
                       TABLE 62 NORTH AMERICA: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
                       TABLE 63 NORTH AMERICA: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
             10.2.6 BY COUNTRY
                       TABLE 64 NORTH AMERICA: ARTIFICIAL LIFT MARKET, BY COUNTRY, 2016–2019 (USD MILLION)
                       TABLE 65 NORTH AMERICA: ARTIFICIAL LIFT MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                       10.2.6.1 US
                                   10.2.6.1.1 Increasing exploration and production of shale and tight oil reserves to drive market
                                                    TABLE 66 US: ARTIFICIAL LIFT MARKET, BY TYPE, 2016–2019 (USD MILLION)
                                                    TABLE 67 US: ARTIFICIAL LIFT MARKET, BY TYPE, 2020–2027 (USD MILLION)
                                                    TABLE 68 US: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
                                                     TABLE 69 US: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
                       10.2.6.2 Canada
                                   10.2.6.2.1 Increasing exploration and drilling of oil sands and offshore wells to provide lucrative growth opportunities
                                                    TABLE 70 CANADA: ARTIFICIAL LIFT MARKET, BY TYPE, 2016–2019 (USD MILLION)
                                                    TABLE 71 CANADA: ARTIFICIAL LIFT MARKET, BY TYPE, 2020–2027 (USD MILLION)
                                                    TABLE 72 CANADA: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
                                                    TABLE 73 CANADA: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
                       10.2.6.3 Mexico
                                   10.2.6.3.1 Increasing focus on redeveloping mature fields to offer growth opportunities
                                                    TABLE 74 MEXICO: ARTIFICIAL LIFT MARKET, BY TYPE, 2016–2019 (USD MILLION)
                                                    TABLE 75 MEXICO: ARTIFICIAL LIFT MARKET, BY TYPE, 2020–2027 (USD MILLION)
                                                    TABLE 76 MEXICO: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
                                                    TABLE 77 MEXICO: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
     10.3 EUROPE
               FIGURE 42 EUROPE: ARTIFICIAL LIFT MARKET SNAPSHOT
             10.3.1 BY TYPE
                       TABLE 78 EUROPE: ARTIFICIAL LIFT MARKET, BY TYPE, 2016–2019 (USD MILLION)
                       TABLE 79 EUROPE: ARTIFICIAL LIFT MARKET, BY TYPE, 2020–2027 (USD MILLION)
             10.3.2 BY MECHANISM
                       TABLE 80 EUROPE: ARTIFICIAL LIFT MARKET, BY MECHANISM, 2016–2019 (USD MILLION)
                       TABLE 81 EUROPE: ARTIFICIAL LIFT MARKET, BY MECHANISM, 2020–2027 (USD MILLION)
             10.3.3 BY PUMP-ASSISTED MECHANISM
                       TABLE 82 EUROPE: ARTIFICIAL LIFT MARKET, BY PUMP-ASSISTED MECHANISM, 2016–2019 (USD MILLION)
                       TABLE 83 EUROPE: ARTIFICIAL LIFT MARKET, BY PUMP-ASSISTED MECHANISM, 2020–2027 (USD MILLION)
             10.3.4 BY WELL TYPE
                       TABLE 84 EUROPE: ARTIFICIAL LIFT MARKET, BY WELL TYPE, 2016–2019 (USD MILLION)
                       TABLE 85 EUROPE: ARTIFICIAL LIFT MARKET, BY WELL TYPE, 2020–2027 (USD MILLION)
             10.3.5 BY APPLICATION
                       TABLE 86 EUROPE: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
                       TABLE 87 EUROPE: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
             10.3.6 BY COUNTRY
                       TABLE 88 EUROPE: ARTIFICIAL LIFT MARKET, BY COUNTRY, 2016–2019 (USD MILLION)
                       TABLE 89 EUROPE: ARTIFICIAL LIFT MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                       10.3.6.1 Russia
                                   10.3.6.1.1 Investments in Arctic offshore to drive offshore artificial lift market in Russia
                                                   TABLE 90 RUSSIA: ARTIFICIAL LIFT MARKET, BY TYPE, 2016–2019 (USD MILLION)
                                                   TABLE 91 RUSSIA: ARTIFICIAL LIFT MARKET, BY TYPE, 2020–2027 (USD MILLION)
                                                   TABLE 92 RUSSIA: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
                                                   TABLE 93 RUSSIA: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
                       10.3.6.2 UK
                                   10.3.6.2.1 Redevelopment of brownfields to drive artificial lift market in UK
                                                    TABLE 94 UK: ARTIFICIAL LIFT MARKET, BY TYPE, 2016–2019 (USD MILLION)
                                                    TABLE 95 UK: ARTIFICIAL LIFT MARKET, BY TYPE, 2020–2027 (USD MILLION)
                                                    TABLE 96 UK: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
                                                    TABLE 97 UK: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
                       10.3.6.3 Norway
                                   10.3.6.3.1 Rising offshore exploration and production in Norwegian Continental Shelf (NCS) to support market growth
                                                    TABLE 98 NORWAY: ARTIFICIAL LIFT MARKET, BY TYPE, 2016–2019 (USD MILLION)
                                                    TABLE 99 NORWAY: ARTIFICIAL LIFT MARKET, BY TYPE, 2020–2027 (USD MILLION)
                                                    TABLE 100 NORWAY: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
                                                    TABLE 101 NORWAY: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
                       10.3.6.4 Rest of Europe
                                    TABLE 102 REST OF EUROPE: ARTIFICIAL LIFT MARKET, BY TYPE, 2016–2019 (USD MILLION)
                                    TABLE 103 REST OF EUROPE: ARTIFICIAL LIFT MARKET, BY TYPE, 2020–2027 (USD MILLION)
                                    TABLE 104 REST OF EUROPE: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
                                    TABLE 105 REST OF EUROPE: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
     10.4 ASIA PACIFIC
             10.4.1 BY TYPE
                       TABLE 106 ASIA PACIFIC: ARTIFICIAL LIFT MARKET, BY TYPE, 2016–2019 (USD MILLION)
                       TABLE 107 ASIA PACIFIC: ARTIFICIAL LIFT MARKET, BY TYPE, 2020–2027 (USD MILLION)
             10.4.2 BY MECHANISM
                       TABLE 108 ASIA PACIFIC: ARTIFICIAL LIFT MARKET, BY MECHANISM, 2016–2019 (USD MILLION)
                       TABLE 109 ASIA PACIFIC: ARTIFICIAL LIFT MARKET, BY MECHANISM, 2020–2027 (USD MILLION)
             10.4.3 BY PUMP-ASSISTED MECHANISM
                       TABLE 110 ASIA PACIFIC: ARTIFICIAL LIFT MARKET, BY PUMP-ASSISTED MECHANISM, 2016–2019 (USD MILLION)
                       TABLE 111 ASIA PACIFIC: ARTIFICIAL LIFT MARKET, BY PUMP-ASSISTED MECHANISM, 2020–2027 (USD MILLION)
             10.4.4 BY WELL TYPE
                       TABLE 112 ASIA PACIFIC: ARTIFICIAL LIFT MARKET, BY WELL TYPE, 2016–2019 (USD MILLION)
                       TABLE 113 ASIA PACIFIC: ARTIFICIAL LIFT MARKET, BY WELL TYPE, 2020–2027 (USD MILLION)
             10.4.5 BY APPLICATION
                       TABLE 114 ASIA PACIFIC: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
                       TABLE 115 ASIA PACIFIC: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
             10.4.6 BY COUNTRY
                       TABLE 116 ASIA PACIFIC: ARTIFICIAL LIFT MARKET, BY COUNTRY, 2016–2019 (USD MILLION)
                       TABLE 117 ASIA PACIFIC: ARTIFICIAL LIFT MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                       10.4.6.1 China
                                   10.4.6.1.1 Depleting giant oil & gas fields and increasing crude oil imports favor implementation of artificial lifts in China
                                                    TABLE 118 CHINA: ARTIFICIAL LIFT MARKET, BY TYPE, 2016–2019 (USD MILLION)
                                                    TABLE 119 CHINA: ARTIFICIAL LIFT MARKET, BY TYPE, 2020–2027 (USD MILLION)
                                                    TABLE 120 CHINA: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
                                                    TABLE 121 CHINA: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
                       10.4.6.2 Indonesia
                                   10.4.6.2.1 Enhanced oil recovery applications to drive market
                                                    TABLE 122 INDONESIA: ARTIFICIAL LIFT MARKET, BY TYPE, 2016–2019 (USD MILLION)
                                                    TABLE 123 INDONESIA: ARTIFICIAL LIFT MARKET, BY TYPE, 2020–2027 (USD MILLION)
                                                    TABLE 124 INDONESIA: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
                                                    TABLE 125 INDONESIA: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
                       10.4.6.3 Malaysia
                                   10.4.6.3.1 Rising deepwater explorations and increasing oil & gas production from existing fields to drive market
                                                   TABLE 126 MALAYSIA: ARTIFICIAL LIFT MARKET, BY TYPE, 2016–2019 (USD MILLION)
                                                   TABLE 127 MALAYSIA: ARTIFICIAL LIFT MARKET, BY TYPE, 2020–2027 (USD MILLION)
                                                   TABLE 128 MALAYSIA: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
                                                   TABLE 129 MALAYSIA: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
                       10.4.6.4 India
                                   10.4.6.4.1 Increase in crude oil imports to drive market
                                                   TABLE 130 INDIA: ARTIFICIAL LIFT MARKET, BY TYPE, 2016–2019 (USD MILLION)
                                                   TABLE 131 INDIA: ARTIFICIAL LIFT MARKET, BY TYPE, 2020–2027 (USD MILLION)
                                                   TABLE 132 INDIA: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
                                                   TABLE 133 INDIA: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
                       10.4.6.5 Rest of Asia Pacific
                                    TABLE 134 REST OF ASIA PACIFIC: ARTIFICIAL LIFT MARKET, BY TYPE, 2016–2019 (USD MILLION)
                                    TABLE 135 REST OF ASIA PACIFIC: ARTIFICIAL LIFT MARKET, BY TYPE, 2020–2027 (USD MILLION)
                                    TABLE 136 REST OF ASIA PACIFIC: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
                                    TABLE 137 REST OF ASIA PACIFIC: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
     10.5 MIDDLE EAST & AFRICA
             10.5.1 BY TYPE
                       TABLE 138 MIDDLE EAST & AFRICA: ARTIFICIAL LIFT MARKET, BY TYPE, 2016–2019 (USD MILLION)
                       TABLE 139 MIDDLE EAST & AFRICA: ARTIFICIAL LIFT MARKET, BY TYPE, 2020–2027 (USD MILLION)
             10.5.2 BY MECHANISM
                       TABLE 140 MIDDLE EAST & AFRICA: ARTIFICIAL LIFT MARKET, BY MECHANISM, 2016–2019 (USD MILLION)
                       TABLE 141 MIDDLE EAST & AFRICA: ARTIFICIAL LIFT MARKET, BY MECHANISM, 2020–2027 (USD MILLION)
             10.5.3 BY PUMP-ASSISTED MECHANISM
                       TABLE 142 MIDDLE EAST & AFRICA: ARTIFICIAL LIFT MARKET, BY PUMP-ASSISTED MECHANISM, 2016–2019 (USD MILLION)
                       TABLE 143 MIDDLE EAST & AFRICA: ARTIFICIAL LIFT MARKET, BY PUMP-ASSISTED MECHANISM, 2020–2027 (USD MILLION)
             10.5.4 BY WELL TYPE
                       TABLE 144 MIDDLE EAST & AFRICA: ARTIFICIAL LIFT MARKET, BY WELL TYPE, 2016–2019 (USD MILLION)
                       TABLE 145 MIDDLE EAST & AFRICA: ARTIFICIAL LIFT MARKET, BY WELL TYPE, 2020–2027 (USD MILLION)
             10.5.5 BY APPLICATION
                       TABLE 146 MIDDLE EAST & AFRICA: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
                       TABLE 147 MIDDLE EAST & AFRICA: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
             10.5.6 BY COUNTRY
                       TABLE 148 MIDDLE EAST & AFRICA: ARTIFICIAL LIFT MARKET, BY COUNTRY, 2016–2019 (USD MILLION)
                       TABLE 149 MIDDLE EAST & AFRICA: ARTIFICIAL LIFT MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                       10.5.6.1 Angola
                                   10.5.6.1.1 Increasing oil production activities to drive market in Angola
                                                   TABLE 150 ANGOLA: ARTIFICIAL LIFT MARKET, BY TYPE, 2016–2019 (USD MILLION)
                                                   TABLE 151 ANGOLA: ARTIFICIAL LIFT MARKET, BY TYPE, 2020–2027 (USD MILLION)
                                                   TABLE 152 ANGOLA: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
                                                   TABLE 153 ANGOLA: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
                       10.5.6.2 Oman
                                   10.5.6.2.1 New oil discoveries from Omani companies to drive market
                                                    TABLE 154 OMAN: ARTIFICIAL LIFT MARKET, BY TYPE, 2016–2019 (USD MILLION)
                                                    TABLE 155 OMAN: ARTIFICIAL LIFT MARKET, BY TYPE, 2020–2027 (USD MILLION)
                                                    TABLE 156 OMAN: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
                                                    TABLE 157 OMAN: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
                       10.5.6.3 Nigeria
                                   10.5.6.3.1 Development of mature oil & gas fields and exploration & production activities in deep and ultra deepwater to boost market
                                                    TABLE 158 NIGERIA: ARTIFICIAL LIFT MARKET, BY TYPE, 2016–2019 (USD MILLION)
                                                    TABLE 159 NIGERIA: ARTIFICIAL LIFT MARKET, BY TYPE, 2020–2027 (USD MILLION)
                                                    TABLE 160 NIGERIA: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
                                                    TABLE 161 NIGERIA: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
                       10.5.6.4 Saudi Arabia
                                   10.5.6.4.1 Increasing crude oil production from declining reserves to drive adoption of artificial lifts
                                                    TABLE 162 SAUDI ARABIA: ARTIFICIAL LIFT MARKET, BY TYPE, 2016–2019 (USD MILLION)
                                                    TABLE 163 SAUDI ARABIA: ARTIFICIAL LIFT MARKET, BY TYPE, 2020–2027 (USD MILLION)
                                                    TABLE 164 SAUDI ARABIA: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
                                                    TABLE 165 SAUDI ARABIA: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
                       10.5.6.5 Kuwait
                                   10.5.6.5.1 Upcoming investments for development of oilfields to boost market
                                                    TABLE 166 KUWAIT: ARTIFICIAL LIFT MARKET, BY TYPE, 2016–2019 (USD MILLION)
                                                    TABLE 167 KUWAIT: ARTIFICIAL LIFT MARKET, BY TYPE, 2020–2027 (USD MILLION)
                                                    TABLE 168 KUWAIT: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
                                                    TABLE 169 KUWAIT: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
                       10.5.6.6 UAE
                                   10.5.6.6.1 Employment of EOR and artificial lift techniques at existing oilfields offer lucrative opportunities
                                                    TABLE 170 UAE: ARTIFICIAL LIFT MARKET, BY TYPE, 2016–2019 (USD MILLION)
                                                    TABLE 171 UAE: ARTIFICIAL LIFT MARKET, BY TYPE, 2020–2027 (USD MILLION)
                                                    TABLE 172 UAE: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
                                                    TABLE 173 UAE: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
                       10.5.6.7 Rest of Middle East & Africa
                                   TABLE 174 REST OF MIDDLE EAST & AFRICA: ARTIFICIAL LIFT MARKET, BY TYPE, 2016–2019 (USD MILLION)
                                   TABLE 175 REST OF MIDDLE EAST & AFRICA: ARTIFICIAL LIFT MARKET, BY TYPE, 2020–2027 (USD MILLION)
                                   TABLE 176 REST OF MIDDLE EAST & AFRICA: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
                                   TABLE 177 REST OF MIDDLE EAST & AFRICA: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
     10.6 SOUTH AMERICA
             10.6.1 BY TYPE
                       TABLE 178 SOUTH AMERICA: ARTIFICIAL LIFT MARKET, BY TYPE, 2016–2019 (USD MILLION)
                       TABLE 179 SOUTH AMERICA: ARTIFICIAL LIFT MARKET, BY TYPE, 2020–2027 (USD MILLION)
             10.6.2 BY MECHANISM
                       TABLE 180 SOUTH AMERICA: ARTIFICIAL LIFT MARKET, BY MECHANISM, 2016–2019 (USD MILLION)
                       TABLE 181 SOUTH AMERICA: ARTIFICIAL LIFT MARKET, BY MECHANISM, 2020–2027 (USD MILLION)
             10.6.3 BY PUMP-ASSISTED MECHANISM
                       TABLE 182 SOUTH AMERICA: ARTIFICIAL LIFT MARKET, BY PUMP-ASSISTED MECHANISM, 2016–2019 (USD MILLION)
                       TABLE 183 SOUTH AMERICA: ARTIFICIAL LIFT MARKET, BY PUMP-ASSISTED MECHANISM, 2020–2027 (USD MILLION)
             10.6.4 BY WELL TYPE
                       TABLE 184 SOUTH AMERICA: ARTIFICIAL LIFT MARKET, BY WELL TYPE, 2016–2019 (USD MILLION)
                       TABLE 185 SOUTH AMERICA: ARTIFICIAL LIFT MARKET, BY WELL TYPE, 2020–2027 (USD MILLION)
             10.6.5 BY APPLICATION
                       TABLE 186 SOUTH AMERICA: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
                       TABLE 187 SOUTH AMERICA: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
             10.6.6 BY COUNTRY
                       TABLE 188 SOUTH AMERICA: ARTIFICIAL LIFT MARKET, BY COUNTRY, 2016–2019 (USD MILLION)
                       TABLE 189 SOUTH AMERICA: ARTIFICIAL LIFT MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
                       10.6.6.1 Venezuela
                                   10.6.6.1.1 Lucrative government laws for exploration and production activities to boost market
                                                    TABLE 190 VENEZUELA: ARTIFICIAL LIFT MARKET, BY TYPE, 2016–2019 (USD MILLION)
                                                    TABLE 191 VENEZUELA: ARTIFICIAL LIFT MARKET, BY TYPE, 2020–2027 (USD MILLION)
                                                    TABLE 192 VENEZUELA: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
                                                    TABLE 193 VENEZUELA: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
                       10.6.6.2 Brazil
                                   10.6.6.2.1 Increasing offshore exploration and production activities to boost market
                                                    TABLE 194 BRAZIL: ARTIFICIAL LIFT MARKET, BY TYPE, 2016–2019 (USD MILLION)
                                                     TABLE 195 BRAZIL: ARTIFICIAL LIFT MARKET, BY TYPE, 2020–2027 (USD MILLION)
                                                     TABLE 196 BRAZIL: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
                                                     TABLE 197 BRAZIL: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
                       10.6.6.3 Colombia
                                   10.6.6.3.1 Increasing exploration and production activities owing to favorable regulatory reforms to drive market
                                                    TABLE 198 COLOMBIA: ARTIFICIAL LIFT MARKET, BY TYPE, 2016–2019 (USD MILLION)
                                                    TABLE 199 COLOMBIA: ARTIFICIAL LIFT MARKET, BY TYPE, 2020–2027 (USD MILLION)
                                                   TABLE 200 COLOMBIA: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
                                                   TABLE 201 COLOMBIA: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
                       10.6.6.4 Ecuador
                                   10.6.6.4.1 Increasing production from oil reserves to drive demand for artificial lifts
                                                    TABLE 202 ECUADOR: ARTIFICIAL LIFT MARKET, BY TYPE, 2016–2019 (USD MILLION)
                                                    TABLE 203 ECUADOR: ARTIFICIAL LIFT MARKET, BY TYPE, 2020–2027 (USD MILLION)
                                                    TABLE 204 ECUADOR: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
                                                    TABLE 205 ECUADOR: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
                       10.6.6.5 Rest of South America
                                    TABLE 206 REST OF SOUTH AMERICA: ARTIFICIAL LIFT MARKET, BY TYPE, 2016–2019 (USD MILLION)
                                    TABLE 207 REST OF SOUTH AMERICA: ARTIFICIAL LIFT MARKET, BY TYPE, 2020–2027 (USD MILLION)
                                    TABLE 208 REST OF SOUTH AMERICA: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
                                    TABLE 209 REST OF SOUTH AMERICA: ARTIFICIAL LIFT MARKET, BY APPLICATION, 2020–2027 (USD MILLION)

11 COMPETITIVE LANDSCAPE (Page No. - 169)
     11.1 OVERVIEW
               FIGURE 43 KEY DEVELOPMENTS IN ARTIFICIAL LIFT MARKET, 2017 TO 2022
     11.2 MARKET SHARE ANALYSIS
               TABLE 210 ARTIFICIAL LIFT MARKET: DEGREE OF COMPETITION
               FIGURE 44 MARKET SHARE ANALYSIS OF TOP PLAYERS IN ARTIFICIAL LIFT MARKET, 2021
     11.3 MARKET EVALUATION FRAMEWORK
               TABLE 211 MARKET EVALUATION FRAMEWORK, 2017–2022
     11.4 REVENUE ANALYSIS OF TOP MARKET PLAYERS
               FIGURE 45 SEGMENTAL REVENUE ANALYSIS OF TOP MARKET PLAYERS, 2017–2021
     11.5 RECENT DEVELOPMENTS
             11.5.1 DEALS
                       TABLE 212 ARTIFICIAL LIFT MARKET: DEALS
             11.5.2 PRODUCT LAUNCHES
                       TABLE 213 ARTIFICIAL LIFT MARKET: PRODUCT LAUNCHES
             11.5.3 OTHER DEVELOPMENTS
                       TABLE 214 ARTIFICIAL LIFT MARKET: OTHER DEVELOPMENTS
     11.6 COMPETITIVE LEADERSHIP MAPPING
             11.6.1 STARS
             11.6.2 EMERGING LEADERS
             11.6.3 PERVASIVE PLAYERS
             11.6.4 PARTICIPANTS
                       FIGURE 46 ARTIFICIAL LIFT MARKET: COMPETITIVE LEADERSHIP MAPPING, 2021
     11.7 COMPANY FOOTPRINT ANALYSIS
               TABLE 215 TYPE FOOTPRINT OF COMPANIES
               TABLE 216 MECHANISM FOOTPRINT OF COMPANIES
               TABLE 217 REGIONAL FOOTPRINT OF COMPANIES

12 COMPANY PROFILES (Page No. - 181)
     12.1 KEY COMPANIES
             12.1.1 SCHLUMBERGER LIMITED
                       12.1.1.1 Business and financial overview
                                   TABLE 218 SCHLUMBERGER LIMITED: BUSINESS OVERVIEW
                                   FIGURE 47 SCHLUMBERGER LIMITED: COMPANY SNAPSHOT
                       12.1.1.2 Products & services offered
                       12.1.1.3 Recent developments
                                   TABLE 219 SCHLUMBERGER LIMITED: DEALS
                                   TABLE 220 SCHLUMBERGER LIMITED: PRODUCT LAUNCHES
                       12.1.1.4 MnM view
                                   12.1.1.4.1 Key strengths/right to win
                                   12.1.1.4.2 Strategic choices made
                                   12.1.1.4.3 Weaknesses and competitive threats
             12.1.2 WEATHERFORD
                       12.1.2.1 Business and financial overview
                                   TABLE 221 WEATHERFORD: BUSINESS OVERVIEW
                                   FIGURE 48 WEATHERFORD: COMPANY SNAPSHOT
                       12.1.2.2 Products & services offered
                       12.1.2.3 Recent developments
                                   TABLE 222 WEATHERFORD: DEALS
                                   TABLE 223 WEATHERFORD: PRODUCT LAUNCHES
                       12.1.2.4 MnM view
                                   12.1.2.4.1 Key strengths/right to win
                                   12.1.2.4.2 Strategic choices made
                                   12.1.2.4.3 Weaknesses and competitive threats
             12.1.3 BAKER HUGHES COMPANY
                       12.1.3.1 Business and financial overview
                                   TABLE 224 BAKER HUGHES COMPANY: BUSINESS OVERVIEW
                                   FIGURE 49 BAKER HUGHES COMPANY: COMPANY SNAPSHOT
                       12.1.3.2 Products & services offered
                       12.1.3.3 Recent developments
                                   TABLE 225 BAKER HUGHES COMPANY: DEALS
                                   TABLE 226 BAKER HUGHES: OTHER DEVELOPMENTS
                       12.1.3.4 MnM view
                                   12.1.3.4.1 Key strengths/right to win
                                   12.1.3.4.2 Strategic choices made
                                   12.1.3.4.3 Weaknesses and competitive threats
             12.1.4 HALLIBURTON
                       12.1.4.1 Business and financial overview
                                   TABLE 227 HALLIBURTON: BUSINESS OVERVIEW
                                   FIGURE 50 HALLIBURTON: COMPANY SNAPSHOT
                       12.1.4.2 Products & services offered
                       12.1.4.3 Recent developments
                                   TABLE 228 HALLIBURTON: DEALS
                       12.1.4.4 MnM view
                                   12.1.4.4.1 Key strengths/right to win
                                   12.1.4.4.2 Strategic choices made
                                   12.1.4.4.3 Weaknesses and competitive threats
             12.1.5 NOV INC.
                       12.1.5.1 Business and financial overview
                                   TABLE 229 NOV INC.: BUSINESS OVERVIEW
                                   FIGURE 51 NOV INC.: COMPANY SNAPSHOT
                       12.1.5.2 Products & services offered
                       12.1.5.3 MnM view
                                   12.1.5.3.1 Key strengths/right to win
                                   12.1.5.3.2 Strategic choices made
                                   12.1.5.3.3 Weaknesses and competitive threats
             12.1.6 EBARA CORPORATION
                       12.1.6.1 Business and financial overview
                                   TABLE 230 EBARA CORPORATION: BUSINESS OVERVIEW
                                   FIGURE 52 EBARA CORPORATION: COMPANY SNAPSHOT
                       12.1.6.2 Products & services offered
                       12.1.6.3 Recent developments
                                   TABLE 231 EBARA CORPORATION: DEALS
                                   TABLE 232 EBARA CORPORATION: PRODUCT LAUNCHES
                                   TABLE 233 EBARA CORPORATION: OTHER DEVELOPMENTS
             12.1.7 TENARIS
                       12.1.7.1 Business and financial overview
                                   TABLE 234 TENARIS: BUSINESS OVERVIEW
                                   FIGURE 53 TENARIS: COMPANY SNAPSHOT
                       12.1.7.2 Products & services offered
                       12.1.7.3 Recent developments
                                   TABLE 235 TENARIS: DEALS
                                   TABLE 236 TENARIS: PRODUCT LAUNCHES
             12.1.8 DISTRIBUTIONNOW
                       12.1.8.1 Business and financial overview
                                   TABLE 237 DISTRIBUTIONNOW: BUSINESS OVERVIEW
                                   FIGURE 54 DISTRIBUTIONNOW: COMPANY SNAPSHOT
                       12.1.8.2 Products & services offered
                       12.1.8.3 Recent developments
                                   TABLE 238 DISTRIBUTIONNOW: DEALS
             12.1.9 CHAMPIONX
                       12.1.9.1 Business and financial overview
                                   TABLE 239 CHAMPIONX: BUSINESS OVERVIEW
                                   FIGURE 55 CHAMPIONX: COMPANY SNAPSHOT
                       12.1.9.2 Products & services offered
                       12.1.9.3 Recent developments
                                   TABLE 240 CHAMPIONX: DEALS
                                   TABLE 241 CHAMPIONX: PRODUCT LAUNCHES
             12.1.10 BORETS
                       12.1.10.1 Business overview
                                   TABLE 242 BORETS: BUSINESS OVERVIEW
                       12.1.10.2 Products & services offered
                       12.1.10.3 Recent developments
                                   TABLE 243 BORETS: DEALS
             12.1.11 OILSERV
                       12.1.11.1 Business and financial overview
                                   TABLE 244 OILSERV: BUSINESS OVERVIEW
                       12.1.11.2 Products & services offered
             12.1.12 NOVOMET
                       12.1.12.1 Business and financial overview
                                   TABLE 245 NOVOMET: BUSINESS OVERVIEW
                       12.1.12.2 Products & services offered
             12.1.13 JJ TECH
                       12.1.13.1 Business overview
                                   TABLE 246 JJ TECH: BUSINESS OVERVIEW
                       12.1.13.2 Products & services offered
             12.1.14 CAMCO
                       12.1.14.1 Business overview
                                   TABLE 247 CAMCO: BUSINESS OVERVIEW
                       12.1.14.2 Products & services offered
                       12.1.14.3 Recent developments
                                   TABLE 248 CAMCO: OTHER DEVELOPMENTS
             12.1.15 RIMERA GROUP
                       12.1.15.1 Business overview
                                   TABLE 249 RIMERA GROUP: BUSINESS OVERVIEW
                       12.1.15.2 Products & services offered
                       12.1.15.3 Recent developments
                                   TABLE 250 RIMERA GROUP: DEALS
                                   TABLE 251 RIMERA GROUP: PRODUCT LAUNCHES
     12.2 OTHER PLAYERS
             12.2.1 MRC GLOBAL INC.
             12.2.2 ALKHORAYEF PETROLEUM
             12.2.3 CAIRN OIL & GAS
             12.2.4 ACCESSESP
             12.2.5 VALIANT ARTIFICIAL LIFT SOLUTIONS

13 APPENDIX (Page No. - 229)
     13.1 INSIGHTS OF INDUSTRY EXPERTS
     13.2 DISCUSSION GUIDE
     13.3 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     13.4 CUSTOMIZATION OPTIONS
     13.5 RELATED REPORTS
     13.6 AUTHOR DETAILS

This study involved two major activities in estimating the current size of the artificial lift market. Exhaustive secondary research was carried out to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and market sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were used to estimate the total market size. After that, the market breakdown and data triangulation were used to estimate the market size of the segments and subsegments.

Secondary Research

The research study on the artificial lift market involved the extensive use of secondary sources, directories, and databases, such as Hoovers, Bloomberg, Businessweek, Factiva, International Atomic Energy Agency (IAEA), Nuclear Energy Agency, and others, to identify and collect information useful for this technical, market-oriented, and commercial study of the market. The other secondary sources included press releases, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases.

Primary Research

Primary sources included several industry experts from core and related industries, preferred suppliers, manufacturers, service providers, technology developers, and organizations related to all segments of the nuclear industry. In-depth interviews were conducted with various primary respondents, including key industry participants, subject matter experts (SME), C-level executives of the key market players, and industry consultants, among other experts, to obtain and verify qualitative and quantitative information, as well as to assess the prospects of the market.

The breakdown of primary respondents is given below:

Artificial Lift Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the size of the artificial lift market and its dependent submarkets. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry and market were identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, were determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.

Global Artificial lift Market Size: Bottom-Up Approach

Artificial Lift Market Size, and Share

To know about the assumptions considered for the study, Request for Free Sample Report

Data Triangulation

After arriving at the overall market size from the estimation process explained below, the total market was split into several segments and subsegments. The data triangulation and market breakdown procedures were employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for all the segments and subsegments. The data was triangulated by studying various factors and trends from the demand side. Along with this, the market size was validated using both top-down and bottom-up approaches.

Report Objectives

  • To define, describe, and forecast the artificial lift market based on type, mechanism, well type, and application
  • To forecast the market size in four key regions: North America, South America, Europe, Asia Pacific, and the Middle East & Africa, along with their key countries
  • To provide detailed information about the drivers, restraints, opportunities, and challenges influencing the growth of the market
  • To strategically analyze the subsegments with respect to individual growth trends, prospects, and contributions to the overall market size
  • To analyze the market opportunities for stakeholders and provide a detailed competitive landscape of the market
  • To strategically profile the key players and core competencies
  • To track and analyze competitive developments in the artificial lift market, including contracts, agreements, expansions, investments, partnerships, collaborations, mergers, and acquisitions

Available Customizations:

With the given market data, MarketsandMarkets offers customizations as per the client’s specific needs. The following customization options are available for this report:

Regional Analysis

  • Further breakdown of region or country-specific analysis

Company Information

  • Detailed analyses and profiling of additional market players (up to 5)
Report Code
EP 3045
Published ON
Sep, 2022
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