Artificial Lift Market - Industry Size, Share, Growth & Forecast 2027 | UnivDatos

 

Artificial lift is a process used on oil wells to increase pressure within the reservoir and encourage oil to the surface. When the natural drive energy of the reservoir is not strong enough to push the oil to the surface, artificial lift is employed to recover more production. Artificial lift is generally required on most of the wells at some time during their production life or to increase oil well life. Factors such as accelerating investments toward exploration of subsea areas coupled shifting trends toward unconventional reserves coupled with the increase in demand for energy along with industrialization and a rise in population and urbanization boost the growth of the artificial lift market.

Also, major exploration and production (E&P) firms are shifting their focus toward the event of unconventional oil and gas reserves, together with oil, shale gas, tight oil, tight gas, and coal bed alkane series (CBM), which in turn escalating the demand for the artificial lift for carrying throughout E&P activities for the optimum production within the coming years.

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The coronavirus pandemic was declared a public health emergency worldwide by World Health Organization (WHO) in 2020. The strict guidelines were issued by governments and local authorities, and industrial, and commercial activities even all non-essential operations were halted which had suspended the activities of end-users. COVID-19 has adversely affected the artificial lift market.

According to UnivDatos Market Insights (UMI)’ research report “Global Artificial Lift Market”, the market is valued at around 9.5 bn in 2021 and is expected to grow at a CAGR of more than 6% during the forecast period (2021-2027). The Artificial Lift market demand is increasing at propelling rate over the years and is expected to witness influential growth during the forecasted period as well. Factors that are positively accentuating its market size such as soaring energy demand has encouraged producers to search for the method to improve production and economies for oil wells. In addition, the production of oil requires energy to lift the fluids from the reservoir to the surface. Hence, escalating the market demand for the artificial lift to increase reservoir pressure and encourage crude oil to the surface.

Moreover, in emerging economies production activities increasingly focus on mature oilfields, and new and innovative artificial lift technologies combined with the latest techniques are leading the way to maximize production to enable operators to remain competitive accentuating the market demand for artificial lift market in coming years as well.

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Based on the Mechanism, the artificial lift market is categorized into pump-assisted (positive displacement, dynamic displacement), and gas-assisted. The gas-assisted segment caters to a considerable share of the artificial lift market and is expected to witness high growth during the forecasted period. The gas-assisted mechanism is used to reduce the load on the reservoir by injecting gas and pushing the product to the surface which improves the artificial lift performance, and its production can range from hundreds to several thousand barrels of fluid per day.

Based on the well type, the artificial lift market is bifurcated into horizontal and vertical. The horizontal well segment caters to a considerable share of the artificial lift market and is expected to witness high growth during the forecasted period. It is mainly due to the difference in the production rates and horizontal wells becoming increasingly common and productive in the recent years, which would dominate its position in the forecasted period.

Based on the application, the artificial lift market is classified into onshore and offshore. The offshore segment caters to a considerable share of the artificial lift market and is expected to witness high growth during the forecasted period. The growth of this segment is primarily driven by the cost reduction and digitalization of the oil & gas offshore projects. This would ultimately create new opportunities for the w artificial lift market during the forecast period. In addition, new oilfield discoveries in offshore regions are expected to increase the drilling operations. Such developments offshore are driving the artificial lift market.

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The Middle East to witness the highest growth

Based on region, the report provides a detailed analysis for the overall adoption of Artificial Lift in the major region including North America (United States, Canada, Rest of North America, Europe (Germany, UK, France, Spain, Italy, and the Rest of Europe), Middle East & Africa (UAE, Saudi Arabia, Egypt, Nigeria, South Africa and Rest of MEA), Asia-Pacific (China, India, Australia, Japan, Rest of APAC), Rest of the World. The Middle East and Africa acquired an extensive market share in the artificial lift market and is expected to grow at an extensive rate mainly owing to the majority of oil field constitute by this region and coupled with increasing consumption of oil, the discoveries of new reserves are ongoing in many countries in MEA region.

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global Artificial Lift market are General Electric Company, Man Diesel & Turbo SE, Ebara Corporation, Mitsubishi Heavy Industries Compressor Corporation, Atlas Copco Energas GmbH, Solar Turbine Inc., Burckhardt Compression Holding AG, Ariel Corporation, Neuman & Esser Group, Hitachi, Ltd. Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions.

 

“Global Artificial Lift Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.      

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Market Segmentation:

1.      By Type (ESP, PCP, Gas lift, Rod lift, and Others)

2.      By Mechanism (Pump-Assisted (Positive Displacement, Dynamic Displacement), and Gas-Assisted)

3.      By Well Type (Horizontal and Vertical)

4.      By Application (Onshore and Offshore)

5.      By Region (North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Italy, and Rest of Europe), Middle East & Africa (UAE, Saudi Arabia, Egypt, Nigeria, South Africa, and Rest of MEA), Asia-Pacific (China, India, Australia, Japan, Rest of APAC), ROW.

6.      By Company (General Electric Company, Man Diesel & Turbo SE, Ebara Corporation, Mitsubishi Heavy Industries Compressor Corporation, Atlas Copco Energas GmbH, Solar Turbine Inc., Burckhardt Compression Holding AG, Ariel Corporation, Neuman & Esser Group, Hitachi, Ltd)

Key questions answered in the study:

1.      What are the current and future trends of the global Artificial Lift industry?

2.      How the industry has been evolving in terms of type, mechanism, well type, application, and region?

3.      How the competition has been shaping across the countries followed by their comparative factorial indexing?

4.      What are the key growth drivers and challenges for the global Artificial Lift industry?

5.      What are the customer orientation, purchase behavior, and expectations from the global Artificial Lift suppliers across various regions and countries?

Table of Content –

1 MARKET INTRODUCTION

2 RESEARCH METHODOLOGY OR ASSUMPTION

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 GLOBAL ARTIFICIAL LIFT MARKET COVID-19 IMPACT

6 GLOBAL ARTIFICIAL LIFT MARKET REVENUE 2019-2027F

7 MARKET INSIGHTS BY TYPE

8 MARKET INSIGHTS BY MECHANISM

9 MARKET INSIGHTS BY WELL TYPE

10 MARKET INSIGHTS BY APPLICATION

11 MARKET INSIGHTS BY REGION

12 Rest Of the World Artificial Lift Market

13 ARTIFICIAL LIFT MARKET DYNAMICS

14 ARTIFICIAL LIFT MARKET OPPORTUNITIES

15 ARTIFICIAL LIFT MARKET TRENDS

16 LEGAL & REGULATORY FRAMEWORK

17 DEMAND AND SUPPLY-SIDE ANALYSIS

18 VALUE CHAIN ANALYSIS

19 COMPETITIVE SCENARIO

20 COMPANY PROFILED

21 DISCLAIMER

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