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Artificial Lift Market Projected to Reach 10200 Million US$ by 2025- QY Research, Inc.

Artificial Lift Market-New Research Report Announced with business priorities in order to assist companies to realign their business strategies.

 

Los Angeles, CA -- (SBWIRE) -- 10/04/2018 -- This study focuses on the production side and consumption side of Artificial Lift, presents the global Artificial Lift market size by manufacturers, regions, type and application, history breakdown data from 2013 to 2018, and forecast to 2025.

In terms of production side, this report researches the Artificial Lift capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and product type.

In terms of consumption side, this report focuses on the consumption of Artificial Lift by regions and application. The key regions like North America, Europe, Asia-Pacific, Central & South America, Middle East and Africa etc.

Artificial lift is a method used to lower the producing bottomhole pressure (BHP) on the formation to obtain a higher production rate from the well. This can be done with a positive-displacement downhole pump, such as a beam pump or a progressive cavity pump (PCP), to lower the flowing pressure at the pump intake. It also can be done with a downhole centrifugal pump, which could be a part of an electrical submersible pump (ESP) system. Most oil wells require artificial lift at some point in the life of the field, and many gas wells benefit from artificial lift to take liquids off the formation so gas can flow at a higher rate.

Of the different artificial lift technologies, Rod lift is the largest segment in quantity and ESP is the fastest growing and largest revenue segment. Rod lift is expected to continue its dominating position in the next five years due to a global increase field decline and ESP is projected to grow much slower than the last five years as new oil wells are expected to grow quite moderately.

North America is the largest artificial lift market with the fast growing shale gas production. US and Russia are the largest ESP market and Canada is the largest PCP market.

The artificial lift market scale is likely to decrease and more M&A expected in the next few years. Although sales of Artificial Lift brought a lot of opportunities, the study group recommends the new entrants just having money but without technical advantage and downstream support do not to enter into the Artificial Lift field.

The Artificial Lift market was valued at 9550 Million US$ in 2017 and is projected to reach 10200 Million US$ by 2025, at a CAGR of 0.9% during the forecast period. In this study, 2017 has been considered as the base year and 2018 to 2025 as the forecast period to estimate the market size for Artificial Lift.

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This report includes the following manufacturers; we can also add the other companies as you want.

Weatherford

Schlumberger

General Electric

Baker Hughes

Halliburton

Dover

National Oilwell Varco

Borets

Cameron

Novomet

Market Segment by Product Type

Rod Lift

ESP

PCP

Hydraulic Pumps

Gas Lift

Plunger Lift

Market Segment by Application

Onshore

Offshore

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