DUBLIN--(BUSINESS WIRE)--The "Artificial Lift Market by Type, by Mechanism, by Application, by Geography - Global Market Size, Share, Development, Growth, and Demand Forecast, 2013 - 2023" report has been added to ResearchAndMarkets.com's offering.
Global artificial lift market is projected to reach $10,883.1 million by 2023.
Based on type, the artificial lift market is categorized into electrical submersible pump (ESP), rod lift, progressive cavity pump (PCP), gas lift, and others, where the others" category includes plunger lift, hydraulic jet pump, and other small lifts. ESP held the largest share, accounting for more than 40.0%, in the market in 2017.
The artificial lift market is also categorized into pump-assisted and gas-assisted mechanisms. Pump-assisted mechanism is expected to be the faster-growing category, advancing at a CAGR of 5.5% in the market during the forecast period. This can be mainly attributed to its higher adoption rate in these lifts.
North America held the largest share, of more than 45.0%, in the artificial lift market in 2017. The market growth in the region can be mainly attributed to the declining production from mature conventional fields, presence of a large number of oil reserves in onshore basins, and growing adoption of new technologies in the oil and gas sector.
Artificial lifting methods are used in horizontal shale gas-producing wells to lift the accumulated fluid in the well and help achieve operational efficiency. Several countries around the world are testing and evaluating production potential from shale formations in addition to commercially viable production techniques.
- Baker Hughes
- Schlumberger N.V.
- Dover Corporation
- Halliburton Company
- Borets International Limited
- Weatherford International PLC
- National Oilwell Varco Inc.
- Flotek Industries Inc.
- JJ Tech
Key Topics Covered:
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction
Chapter 5. Global Market Size And Forecast
Chapter 6. North America Market Size And Forecast
Chapter 7. Europe Market Size And Forecast
Chapter 8. APAC Market Size And Forecast
Chapter 9. Row Market Size And Forecast
Chapter 10. Competitive Landscape
Chapter 11. Company Profiles
Chapter 12. Appendix
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