LONDON--(BUSINESS WIRE)--Technavio has announced the top nine leading vendors in their recent global artificial lift pumps market report until 2020. The vendors are identified based on their revenue and market dominance in terms of experience, geographical presence, product portfolio, financials, and R&D.
Competitive vendor landscape
Oil exploration and production is a complex process, and each step of the oil supply chain involves advanced technology. Most oil companies, containing vertically integrated giants like Chevron and Exxon Mobil, do not manufacture the equipment required to perform all these difficult and expensive tasks. Rather, oil companies turn to engineering firms that manufacture and operate the oil rigs, tankers, and pipelines that are key components of the industry. These oilfield services companies deliver the infrastructure, equipment, intellectual property, and services required by the global oil and gas industry including exploration, extraction, and transportation of crude oil and natural gas from the earth to the refinery, and finally to the consumer.
Artificial lift equipment is marred by electrical unreliability and power quality problems, which can result in lost production, hardware failure, high CAPEX, increased energy costs, and grid blackouts. Globally, the majority of oil drilling rigs are located in remote outposts and do not have access to electricity grids.
“Microgrid technology, which is an evolving trend in the market, can solve these problems by automatically delivering or receiving precise, high-power pulses with millisecond accuracy, basically cleaning the electrical power flowing to and from the artificial lift motor,” says Gaurav Mohindru, a lead analyst at Technavio for unit operations research.
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Technavio research analysts categorize the global artificial lift pumps market vendors into two segments: key vendors and other prominent vendors
Baker Hughes was founded in 1997 and is headquartered in Texas, US. The company is involved in the design, manufacture, and distribution of wellbores related to oil and gas reservoirs with high-performance drilling, evaluation, technologies, reservoir consulting services and integrated operations.
The company provides field development and production enhancement services such as well stimulation, sand control, cementing, completion tools, downhole tools, and casing and tubular running services for oil and natural gas wells.
Dover Artificial Lift
Dover was founded in 2009 and is headquartered in Texas, US. The company provides designing and manufacturing of artificial lift equipment and solutions to oil and gas producers in the US and worldwide.
The company offers sucker rods, sinker bars, injection-molded rod guides for rod wear reduction, downhole pumps lift subs, and centralized flex bars and lift subs, well-servicing tools; gas lifts, progressing cavity pump systems, and plunger lift products.
GE was founded in 1892 and is headquartered in Connecticut, US. The company is involved in the manufacture and distribution of products and services including aircraft engines, oil and gas production equipment, power generation, business and consumer financing, and industrial products.
GE is one of the major players in the global artificial lift pumps market. GE's portfolio of products includes time-tested artificial lift applications from Lufkin Industries in addition to its ESP systems, which provide maximum performance in difficult conditions.
Schlumberger was founded in 1926 and is headquartered in Houston, Texas, US. It is known for providing integrated project management, and information solutions to the oil and gas as well as production industries. It employs approximately 120,000 people.
Schlumberger is one of the major players in global artificial lift pumps market. The product portfolio of the company includes ESPs, gas lifts, horizontal surface pumps, sucker rod pumping, progressing cavity pumps, surface electrical equipment and services, artificial lift applications (subsea lift systems, industrial pump systems, and dewatering pump systems), and real-time monitoring and optimization.
Weatherford International was founded in 1972 and is headquartered in Baar, Switzerland. It is a multinational oilfield service company, which offers innovative solutions, technology, and services.
Weatherford International is one the major players in the global artificial lift pumps market. The company provides extensive solutions for all forms of artificial lift pumps. It has over 730 manufacturing services and distribution facilities worldwide.
Other prominent vendors:
|Aker Solutions||Oil field services company with 15,000 employees and a presence in 20 countries. Provides technical expertise in oil field services.|
|Petrofac||Petrofac is an oilfield service company with 19,000 employees and a presence in 29 countries. Petrofac has an expertise of 35 years.|
|Technip||Established in 1958, Technip has an employee strength of over 33,000 employees and is present in 45 countries. Technip had an adjusted revenue of USD 13.6 billion in 2015.|
|Transocean||Established in 1920, Transocean has an expertise of around 100 years and is present in all the prominent oil-producing regions across the globe.|
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