Global Artificial Lift
Systems Market
Share, Global Trends,
Analysis, Research, Report,
Opportunities,
Segmentation and Forecast,
2016-2026
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Report
Description
Report Description
The recovery of hydrocarbon resources from the reservoir occurs either through natural
bottomhole pressure or by creating artificial pressure using artificial lift systems. The
artificial lift systems market is expected to witness a moderate annual growth in coming
years owing to strengthening of crude oil prices. According to Energy International
Agency (EIA), Brent crude is anticipated to be traded at around $90 per Bbl by the end of
2025. Further, the mature fields account for over 70% of the global oil & gas production.
With recovery in prices of the global crude oil benchmarks, coupled with attempts to
increase production from mature fields, the global artificial lift systems market is
expected to witness increased revenues in coming years.
Although, a number of Enhanced Oil Recovery (EOR) techniques are available for
increasing the amount of hydrocarbon recovery, but they are considered as tertiary
recovery system. The artificial lift system on the other hand is a primary recovery
technique, which provides low cost and effective means of maintaining the desired
production rate in a well. An artificial lift system is utilized to overcome bottom-hole
pressure during the phase when natural bottomhole pressure is not enough to support
the flow of hydrocarbons from reservoir to the well bore. The artificial lift system enables
to overcome downhole pressure in order to maintain the desired production rate from a
producing well.
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Report
Description
Report Description
Artificial Lift Systems Market: Segmentation
The global artificial lift systems market has been segment on the basis of geography as
well as on the basis of actuation mode used for artificial lift system. On the basis of
actuation mode, the global artificial lift systems market has been segmented into pump
assisted artificial lift system and gas assisted artificial lift system. The pump assisted
artificial lift systems market has been further divided into four different systems, which
include Rod Pump, Hydraulic Piston System, Electrical Submersible Pump (ESP), and
Progressive Cavity Pump. Further the gas assisted artificial lift system has been further
segmented into two different types of systems – Gas Lift and Plunger Lift. Within the
artificial lift systems market, rod pump has been the oldest types of methods that has
been used across the industry. However, other artificial lift systems are expected to gain
traction in the global artificial lift systems market in coming years.
In terms of geography, the global artificial lift system has been segmented into seven key
geographical regions, which include, North America, Latin America, Western Europe,
Eastern Europe, Asia Pacific (excluding Japan), Middle East & Africa, Japan. The artificial
lift system has witnessed a larger market share, in terms of revenue, as compared to
other regions across the globe. Increasing mature fields in regions such as Middle East, is
expected to drive the market for artificial lift systems through the forecast period.
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Description
Report Description
Artificial Lift Systems Market: Market Drivers
The industry’s inclination and attempts to optimize upstream assets is one of the key
drivers for the global artificial lift systems market. Additionally, the recovery in crude oil
price after recent plummeting is also likely to drive investments in global artificial lift
systems market. The desire to maintain the production rate in a well in addition to the
cost effectiveness an artificial lift system provides as compared to tertiary recovery
techniques, the artificial lift systems market is expected to witness increased revenue
generation in years to come.
Artificial Lift Systems Market: Key Players
The global Artificial Lift Systems market witnessed key players such as Baker Hughes,
Dover Artificial Lift, Flotek Industries, Inc., Halliburton Company, Kudu Industries,
Schlumberger Ltd, Weatherford International, among others.
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