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Los Angeles, CA -- (SBWIRE) -- 10/26/2018 -- Artificial lift refers to the use of artificial means to increase the flow of liquids, such as crude oil or water, from a production well. Generally this is achieved by the use of a mechanical device inside the well (known as pump or velocity string) or by decreasing the weight of the hydrostatic column by injecting gas into the liquid some distance down the well. A newer method called Continuous Belt Transportation (CBT) uses an oil absorbing belt to extract from marginal and idle wells. Artificial lift is needed in wells when there is insufficient pressure in the reservoir to lift the produced fluids to the surface, but often used in naturally flowing wells (which do not technically need it) to increase the flow rate above what would flow naturally. The produced fluid can be oil, water or a mix of oil and water, typically mixed with some amount of gas.
The Artificial Lifts market was valued at 8080 Million US$ in 2017 and is projected to reach 11800 Million US$ by 2025, at a CAGR of 4.9% 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 Lifts.
This study focuses on the production side and consumption side of Artificial Lifts, presents the global Artificial Lifts market size by manufacturers, regions, type and application, history breakdown data from 2013 to 2018, and forecast to 2025.
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In terms of production side, this report researches the Artificial Lifts 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 Lifts by regions and application. The key regions like North America, Europe, Asia-Pacific, Central & South America, Middle East and Africa etc.
This report includes the following manufacturers; we can also add the other companies as you want.
National Oilwell Varco
Flotek Industries Inc
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Market Segment by Product Type
Market Segment by Application
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