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
The Artificial Lift market is expected to expand in the coming years as a result of rising demand for oil and gas, the expansion of unconventional reserves, technological advancements, and government regulations. The global artificial lift market in terms of revenue was estimated to be worth $6.9 billion in 2022 and is poised to reach $8.7 billion by 2027, growing at a CAGR of 4.8% from 2022 to 2027.
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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
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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 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 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.
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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|
Report Coverage |
Details |
|
Market size: |
USD 6.9 billion in 2022 to USD 8.7 billion by 2027 |
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Growth Rate: |
4.8% |
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Largest Market: |
North America |
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Market Dynamics: |
Drivers, Restraints, Opportunities & Challenges |
|
Forecast Period: |
2022-2027 |
|
Forecast Units: |
Value (USD Billion) |
|
Report Coverage: |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered: |
Type, Mechanism, Well Type, Application, and Region |
|
Geographies Covered: |
North America, Europe, Asia Pacific, Latin America, and Middle East and Africa |
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Report Highlights:
|
Updated financial information / product portfolio of players |
|
Key Market Opportunities: |
Digitalization and automation |
|
Key Market Drivers: |
Heavy oil production |
This research report categorizes the 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 market has been segmented as follows:
-
Pump Assisted
- Positive Displacement
- Dynamic Displacement
- Gas Assisted
Based on well type, the market has been segmented as follows:
- Horizontal
- Vertical
Based on application, the market has been segmented as follows:
- Onshore
- Offshore
Based on the region, the 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.
Frequently Asked Questions (FAQ):
What is the current size of the artificial lift market?
The size of the global artificial lift market is USD 6.9 billion in 2022.
What are the major drivers for the artificial lift market?
Increasing global oil demand and growing requirement to maximize the production potential of mature oil & gas fields.
Which is the fastest-growing region during the forecasted period in the artificial lift market?
North America is estimated to be the largest and the fastest-growing market for artificial lift during the forecast period.
Which is the fastest-growing segment, by type, during the forecast period?
The rod lift segment is estimated to be the largest and the fastest growing segment by type. .
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
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 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 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 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 MARKET SHARE, BY TYPE
FIGURE 19 ROD LIFTS SEGMENT ACCOUNTED FOR LARGEST MARKET SHARE IN 2021
4.4 MARKET SHARE, BY MECHANISM
FIGURE 20 PUMP-ASSISTED SEGMENT DOMINATED MARKET IN 2021
4.5 MARKET SHARE, BY WELL TYPE
FIGURE 21 VERTICAL WELL SEGMENT DOMINATED MARKET, BY WELL TYPE, IN 2021
4.6 MARKET SHARE, BY APPLICATION
FIGURE 22 ONSHORE LARGEST APPLICATION SEGMENT OF MARKET
4.7 NORTH AMERICA: 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 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 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 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 MARKET, BY TYPE, 2016–2019 (USD MILLION)
TABLE 17 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: MARKET, BY REGION, 2016–2019 (USD MILLION)
TABLE 19 ROD LIFTS: 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: MARKET, BY REGION, 2016–2019 (USD MILLION)
TABLE 21 ELECTRICAL SUBMERSIBLE PUMPS: 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: MARKET, BY REGION, 2016–2019 (USD MILLION)
TABLE 23 GAS LIFT SYSTEMS: 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: MARKET, BY REGION, 2016–2019 (USD MILLION)
TABLE 25 PROGRESSIVE CAVITY PUMPS: MARKET, BY REGION, 2020–2027 (USD MILLION)
6.6 OTHERS
TABLE 26 OTHERS: MARKET, BY REGION, 2016–2019 (USD MILLION)
TABLE 27 OTHERS: 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 MARKET, BY MECHANISM, 2016–2019 (USD MILLION)
TABLE 29 MARKET, BY MECHANISM, 2020–2027 (USD MILLION)
7.2 PUMP ASSISTED
TABLE 30 PUMP ASSISTED: MARKET, BY MECHANISM, 2016–2019 (USD MILLION)
TABLE 31 PUMP ASSISTED: MARKET, BY MECHANISM, 2020–2027 (USD MILLION)
TABLE 32 PUMP ASSISTED: MARKET, BY REGION, 2016–2019 (USD MILLION)
TABLE 33 PUMP ASSISTED: 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 MARKET, BY REGION, 2016–2019 (USD MILLION)
TABLE 35 POSITIVE DISPLACEMENT: PUMP-ASSISTED 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 MARKET, BY REGION, 2016–2019 (USD MILLION)
TABLE 37 DYNAMIC DISPLACEMENT: PUMP-ASSISTED 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: MARKET, BY REGION, 2016–2019 (USD MILLION)
TABLE 39 GAS ASSISTED: 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 MARKET, BY WELL TYPE, 2016–2019 (USD MILLION)
TABLE 41 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: MARKET, BY REGION, 2016–2019 (USD MILLION)
TABLE 43 HORIZONTAL WELL: 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: MARKET, BY REGION, 2016–2019 (USD MILLION)
TABLE 45 VERTICAL WELL: 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 MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 47 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: MARKET, BY REGION, 2016–2019 (USD MILLION)
TABLE 49 ONSHORE: MARKET, BY REGION, 2020–2027 (USD MILLION)
9.3 OFFSHORE
9.3.1 MATURING SHALLOW OILFIELDS DRIVING OFFSHORE MARKET
TABLE 50 OFFSHORE: MARKET, BY REGION, 2016–2019 (USD MILLION)
TABLE 51 OFFSHORE: 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: MARKET, BY TYPE, 2016–2019 (USD MILLION)
TABLE 55 NORTH AMERICA: MARKET, BY TYPE, 2020–2027 (USD MILLION)
10.2.2 BY MECHANISM
TABLE 56 NORTH AMERICA: MARKET, BY MECHANISM, 2016–2019 (USD MILLION)
TABLE 57 NORTH AMERICA: MARKET, BY MECHANISM, 2020–2027 (USD MILLION)
10.2.3 BY PUMP-ASSISTED MECHANISM
TABLE 58 NORTH AMERICA: MARKET, BY PUMP-ASSISTED MECHANISM, 2016–2019 (USD MILLION)
TABLE 59 NORTH AMERICA: MARKET, BY PUMP-ASSISTED MECHANISM, 2020–2027 (USD MILLION)
10.2.4 BY WELL TYPE
TABLE 60 NORTH AMERICA: MARKET, BY WELL TYPE, 2016–2019 (USD MILLION)
TABLE 61 NORTH AMERICA: MARKET, BY WELL TYPE, 2020–2027 (USD MILLION)
10.2.5 BY APPLICATION
TABLE 62 NORTH AMERICA: MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 63 NORTH AMERICA: MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
10.2.6 BY COUNTRY
TABLE 64 NORTH AMERICA: MARKET, BY COUNTRY, 2016–2019 (USD MILLION)
TABLE 65 NORTH AMERICA: 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: MARKET, BY TYPE, 2020–2027 (USD MILLION)
TABLE 68 US: MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 69 US: 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: MARKET, BY TYPE, 2016–2019 (USD MILLION)
TABLE 71 CANADA: MARKET, BY TYPE, 2020–2027 (USD MILLION)
TABLE 72 CANADA: MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 73 CANADA: 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: MARKET, BY TYPE, 2016–2019 (USD MILLION)
TABLE 75 MEXICO: MARKET, BY TYPE, 2020–2027 (USD MILLION)
TABLE 76 MEXICO: MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 77 MEXICO: 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: MARKET, BY TYPE, 2016–2019 (USD MILLION)
TABLE 79 EUROPE: MARKET, BY TYPE, 2020–2027 (USD MILLION)
10.3.2 BY MECHANISM
TABLE 80 EUROPE: MARKET, BY MECHANISM, 2016–2019 (USD MILLION)
TABLE 81 EUROPE: MARKET, BY MECHANISM, 2020–2027 (USD MILLION)
10.3.3 BY PUMP-ASSISTED MECHANISM
TABLE 82 EUROPE: MARKET, BY PUMP-ASSISTED MECHANISM, 2016–2019 (USD MILLION)
TABLE 83 EUROPE: MARKET, BY PUMP-ASSISTED MECHANISM, 2020–2027 (USD MILLION)
10.3.4 BY WELL TYPE
TABLE 84 EUROPE: MARKET, BY WELL TYPE, 2016–2019 (USD MILLION)
TABLE 85 EUROPE: MARKET, BY WELL TYPE, 2020–2027 (USD MILLION)
10.3.5 BY APPLICATION
TABLE 86 EUROPE: MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 87 EUROPE: MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
10.3.6 BY COUNTRY
TABLE 88 EUROPE: MARKET, BY COUNTRY, 2016–2019 (USD MILLION)
TABLE 89 EUROPE: MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
10.3.6.1 Russia
10.3.6.1.1 Investments in Arctic offshore to drive offshore market in Russia
TABLE 90 RUSSIA: MARKET, BY TYPE, 2016–2019 (USD MILLION)
TABLE 91 RUSSIA: MARKET, BY TYPE, 2020–2027 (USD MILLION)
TABLE 92 RUSSIA: MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 93 RUSSIA: MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
10.3.6.2 UK
10.3.6.2.1 Redevelopment of brownfields to drive market in UK
TABLE 94 UK: ARTIFICIAL LIFT MARKET, BY TYPE, 2016–2019 (USD MILLION)
TABLE 95 UK: MARKET, BY TYPE, 2020–2027 (USD MILLION)
TABLE 96 UK: MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 97 UK: 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: MARKET, BY TYPE, 2016–2019 (USD MILLION)
TABLE 99 NORWAY: MARKET, BY TYPE, 2020–2027 (USD MILLION)
TABLE 100 NORWAY: MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 101 NORWAY: MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
10.3.6.4 Rest of Europe
TABLE 102 REST OF EUROPE: MARKET, BY TYPE, 2016–2019 (USD MILLION)
TABLE 103 REST OF EUROPE: MARKET, BY TYPE, 2020–2027 (USD MILLION)
TABLE 104 REST OF EUROPE: MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 105 REST OF EUROPE: 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: MARKET, BY TYPE, 2020–2027 (USD MILLION)
10.4.2 BY MECHANISM
TABLE 108 ASIA PACIFIC: MARKET, BY MECHANISM, 2016–2019 (USD MILLION)
TABLE 109 ASIA PACIFIC: MARKET, BY MECHANISM, 2020–2027 (USD MILLION)
10.4.3 BY PUMP-ASSISTED MECHANISM
TABLE 110 ASIA PACIFIC: MARKET, BY PUMP-ASSISTED MECHANISM, 2016–2019 (USD MILLION)
TABLE 111 ASIA PACIFIC: MARKET, BY PUMP-ASSISTED MECHANISM, 2020–2027 (USD MILLION)
10.4.4 BY WELL TYPE
TABLE 112 ASIA PACIFIC: MARKET, BY WELL TYPE, 2016–2019 (USD MILLION)
TABLE 113 ASIA PACIFIC: MARKET, BY WELL TYPE, 2020–2027 (USD MILLION)
10.4.5 BY APPLICATION
TABLE 114 ASIA PACIFIC: MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 115 ASIA PACIFIC: MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
10.4.6 BY COUNTRY
TABLE 116 ASIA PACIFIC: MARKET, BY COUNTRY, 2016–2019 (USD MILLION)
TABLE 117 ASIA PACIFIC: 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: MARKET, BY TYPE, 2016–2019 (USD MILLION)
TABLE 119 CHINA: MARKET, BY TYPE, 2020–2027 (USD MILLION)
TABLE 120 CHINA: MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 121 CHINA: 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: MARKET, BY TYPE, 2020–2027 (USD MILLION)
TABLE 124 INDONESIA: MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 125 INDONESIA: 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: MARKET, BY TYPE, 2016–2019 (USD MILLION)
TABLE 127 MALAYSIA: MARKET, BY TYPE, 2020–2027 (USD MILLION)
TABLE 128 MALAYSIA: MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 129 MALAYSIA: 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: MARKET, BY TYPE, 2016–2019 (USD MILLION)
TABLE 131 INDIA: MARKET, BY TYPE, 2020–2027 (USD MILLION)
TABLE 132 INDIA: MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 133 INDIA: MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
10.4.6.5 Rest of Asia Pacific
TABLE 134 REST OF ASIA PACIFIC: MARKET, BY TYPE, 2016–2019 (USD MILLION)
TABLE 135 REST OF ASIA PACIFIC: MARKET, BY TYPE, 2020–2027 (USD MILLION)
TABLE 136 REST OF ASIA PACIFIC: MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 137 REST OF ASIA PACIFIC: 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: MARKET, BY TYPE, 2020–2027 (USD MILLION)
10.5.2 BY MECHANISM
TABLE 140 MIDDLE EAST & AFRICA: MARKET, BY MECHANISM, 2016–2019 (USD MILLION)
TABLE 141 MIDDLE EAST & AFRICA: MARKET, BY MECHANISM, 2020–2027 (USD MILLION)
10.5.3 BY PUMP-ASSISTED MECHANISM
TABLE 142 MIDDLE EAST & AFRICA: MARKET, BY PUMP-ASSISTED MECHANISM, 2016–2019 (USD MILLION)
TABLE 143 MIDDLE EAST & AFRICA: MARKET, BY PUMP-ASSISTED MECHANISM, 2020–2027 (USD MILLION)
10.5.4 BY WELL TYPE
TABLE 144 MIDDLE EAST & AFRICA: MARKET, BY WELL TYPE, 2016–2019 (USD MILLION)
TABLE 145 MIDDLE EAST & AFRICA: MARKET, BY WELL TYPE, 2020–2027 (USD MILLION)
10.5.5 BY APPLICATION
TABLE 146 MIDDLE EAST & AFRICA: MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 147 MIDDLE EAST & AFRICA: MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
10.5.6 BY COUNTRY
TABLE 148 MIDDLE EAST & AFRICA: MARKET, BY COUNTRY, 2016–2019 (USD MILLION)
TABLE 149 MIDDLE EAST & AFRICA: 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: MARKET, BY TYPE, 2016–2019 (USD MILLION)
TABLE 151 ANGOLA: MARKET, BY TYPE, 2020–2027 (USD MILLION)
TABLE 152 ANGOLA: MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 153 ANGOLA: 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: MARKET, BY TYPE, 2016–2019 (USD MILLION)
TABLE 155 OMAN: MARKET, BY TYPE, 2020–2027 (USD MILLION)
TABLE 156 OMAN: MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 157 OMAN: 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: MARKET, BY TYPE, 2016–2019 (USD MILLION)
TABLE 159 NIGERIA: MARKET, BY TYPE, 2020–2027 (USD MILLION)
TABLE 160 NIGERIA: MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 161 NIGERIA: 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: MARKET, BY TYPE, 2020–2027 (USD MILLION)
TABLE 164 SAUDI ARABIA: MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 165 SAUDI ARABIA: 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: MARKET, BY TYPE, 2016–2019 (USD MILLION)
TABLE 167 KUWAIT: MARKET, BY TYPE, 2020–2027 (USD MILLION)
TABLE 168 KUWAIT: MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 169 KUWAIT: 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: MARKET, BY TYPE, 2016–2019 (USD MILLION)
TABLE 171 UAE: MARKET, BY TYPE, 2020–2027 (USD MILLION)
TABLE 172 UAE: MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 173 UAE: MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
10.5.6.7 Rest of Middle East & Africa
TABLE 174 REST OF MIDDLE EAST & AFRICA: MARKET, BY TYPE, 2016–2019 (USD MILLION)
TABLE 175 REST OF MIDDLE EAST & AFRICA: MARKET, BY TYPE, 2020–2027 (USD MILLION)
TABLE 176 REST OF MIDDLE EAST & AFRICA: MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 177 REST OF MIDDLE EAST & AFRICA: 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: MARKET, BY TYPE, 2020–2027 (USD MILLION)
10.6.2 BY MECHANISM
TABLE 180 SOUTH AMERICA: MARKET, BY MECHANISM, 2016–2019 (USD MILLION)
TABLE 181 SOUTH AMERICA: MARKET, BY MECHANISM, 2020–2027 (USD MILLION)
10.6.3 BY PUMP-ASSISTED MECHANISM
TABLE 182 SOUTH AMERICA: MARKET, BY PUMP-ASSISTED MECHANISM, 2016–2019 (USD MILLION)
TABLE 183 SOUTH AMERICA: MARKET, BY PUMP-ASSISTED MECHANISM, 2020–2027 (USD MILLION)
10.6.4 BY WELL TYPE
TABLE 184 SOUTH AMERICA: MARKET, BY WELL TYPE, 2016–2019 (USD MILLION)
TABLE 185 SOUTH AMERICA: MARKET, BY WELL TYPE, 2020–2027 (USD MILLION)
10.6.5 BY APPLICATION
TABLE 186 SOUTH AMERICA: MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 187 SOUTH AMERICA: MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
10.6.6 BY COUNTRY
TABLE 188 SOUTH AMERICA: MARKET, BY COUNTRY, 2016–2019 (USD MILLION)
TABLE 189 SOUTH AMERICA: 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: MARKET, BY TYPE, 2016–2019 (USD MILLION)
TABLE 191 VENEZUELA: MARKET, BY TYPE, 2020–2027 (USD MILLION)
TABLE 192 VENEZUELA: MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 193 VENEZUELA: 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: MARKET, BY TYPE, 2020–2027 (USD MILLION)
TABLE 196 BRAZIL: MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 197 BRAZIL: 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: MARKET, BY TYPE, 2016–2019 (USD MILLION)
TABLE 199 COLOMBIA: MARKET, BY TYPE, 2020–2027 (USD MILLION)
TABLE 200 COLOMBIA: MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 201 COLOMBIA: 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: MARKET, BY TYPE, 2016–2019 (USD MILLION)
TABLE 203 ECUADOR: MARKET, BY TYPE, 2020–2027 (USD MILLION)
TABLE 204 ECUADOR: MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 205 ECUADOR: MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
10.6.6.5 Rest of South America
TABLE 206 REST OF SOUTH AMERICA: MARKET, BY TYPE, 2016–2019 (USD MILLION)
TABLE 207 REST OF SOUTH AMERICA: MARKET, BY TYPE, 2020–2027 (USD MILLION)
TABLE 208 REST OF SOUTH AMERICA: MARKET, BY APPLICATION, 2016–2019 (USD MILLION)
TABLE 209 REST OF SOUTH AMERICA: MARKET, BY APPLICATION, 2020–2027 (USD MILLION)
11 COMPETITIVE LANDSCAPE (Page No. - 169)
11.1 OVERVIEW
FIGURE 43 KEY DEVELOPMENTS IN 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 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 MARKET: PRODUCT LAUNCHES
11.5.3 OTHER DEVELOPMENTS
TABLE 214 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 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 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:
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 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
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 market, including contracts, agreements, expansions, investments, partnerships, collaborations, mergers, and acquisitions
Hydraulic lift & Its impact on Artificial Lift Market
Hydraulic and artificial lift systems are two distinct technologies used in a variety of industries. Hydraulic lifts are commonly used in the construction and automotive industries to lift heavy loads or vehicles. In the oil and gas industry, artificial lift systems are used to lift oil or gas from the wellbore to the surface. The artificial lift market is a global industry that provides solutions for oil and gas production. There are various types of artificial lift systems on the market, including electric submersible pumps (ESP), rod pumps, gas lift systems, and hydraulic lift systems. Because hydraulic lift systems are inefficient compared to other artificial lift systems, they are not widely used in the oil and gas industry. However, some hydraulic lift systems have been used in the past to extract oil or gas from wells with low production rates or wellhead pressures.
By extending the reach of Hydraulic lift services, companies are also creating new business opportunities. Companies are using these services to create new products and services and to drive their bottom line.
- Vertical transportation in high-rise buildings: With the construction of taller and taller buildings, the demand for reliable and efficient vertical transportation systems is growing.
- Urban air mobility: Hydraulic lifts can be used to lift these aircraft and drones to the required height before take-off and after landing.
- Space exploration: Hydraulic lifts can play a crucial role in space exploration by transporting heavy payloads to space stations or other planets.
- Warehouse automation: Hydraulic lifts can be used to move heavy goods to different levels of the warehouse, making it easier for workers to retrieve and store items.
- Underwater exploration: Hydraulic lifts can be used to lift underwater vehicles and equipment to the surface for maintenance and repairs.
The top players in the Hydraulic lift market are Schindler Group, Otis Elevator Company, ThyssenKrupp Elevator, KONE Corporation, Mitsubishi Electric Corporation, Fujitec Co. Ltd., Hitachi, Ltd.
Some of the key industries that are going to get impacted because of the growth of Hydraulic lift are,
1. Warehousing and Logistics: Hydraulic lifts are already used in warehouses to move goods from one level to another.
2. Agriculture: Hydraulic lifts can be used in agriculture for tasks such as lifting and moving heavy equipment or materials.
3. Automotive: Automotive companies are already using hydraulic lifts for car maintenance and repairs.
4. Healthcare: Hydraulic lifts are commonly used in hospitals and nursing homes to move patients from one location to another.
5. Energy: Hydraulic lifts are used in the energy industry for tasks such as lifting and moving heavy equipment or materials.
6. Aerospace: Hydraulic lifts are used in the aerospace industry for tasks such as lifting and moving heavy equipment or materials.
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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)
Growth opportunities and latent adjacency in Artificial Lift Market