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