Global Artificial Lift System Market - Expected to Rise at a CAGR of 4.9% During 2017-2023

News provided by

Research and Markets

29 Dec, 2017, 17:00 GMT

DUBLIN, Dec. 29, 2017 /PRNewswire/ --

The "Global Artificial Lift System Market Research Report Insights, Opportunity Analysis, Market Shares and Forecast, 2017 - 2023" report has been added to Research and Markets' offering.

Artificial lift system is a method which is used to reduce the bottom hole pressure (BHP) which is formed in order to obtain a higher production rate from the production well. The global artificial lift system market is expected to rise at a CAGR 4.91 % during the forecast period 2016-2023. Artificial lift systems are being extensively used by industrial sector and commercial sector due to its advantages. Some of them includes simple system design, analyzable, can be deployed in offshore platforms etc. The increasing demand of energy across the world, increasing heavy oil production, increasing shale gas production, improving production efficiencies is driving the global artificial lift system market.

The growth in global artificial lift system market is influenced by presence of the leading market players such as GE oil and gas, National oil Varco, Baker Hughes, Halliburton, Dover Corporation and others. Product launches, joint ventures, mergers and acquisitions are some of the crucial strategies adopted by the key market players to gain competitive advantage.

Global artificial lift system market report covers segmentation analysis of type, components and mechanisms. Report further covers segments of type which includes rod lift, electric submersible pump (ESP), progressive cavity pump (PCP) and plunger lift. ESP is the leading type segment due to its higher operating volume, motor driven operation and fair gas handling. Moreover, ESP is easy to install. Report further covers segments of components which include pump, motor, cable system, drive head, separators, pump jack and sucker rods. Pump is the leading component segment as they are being extensively used due to their high operating volume and efficient performance. Report further covers segments of mechanism which includes pump assisted positive displacement, pump assisted dynamic displacement and gas assisted displacement. The pump assisted displacement segment is expected to dominate the artificial lift market.

Companies Mentioned

  • Baker Hughes Inc. (U.S.)
  • Borets Company Llc (Russia)
  • Dover Corporation (U.S.)
  • Flotek Industries (U.S)
  • Ge Oil And Gas (U.K.)
  • Halliburton (U.S.)
  • J&J Technical Services (U.S.)
  • John Crane Group (U.S.)
  • National Oil Varco, Inc. (U.S.)
  • Novomet (Russia)
  • Schlumberger Nv(U.S.)
  • Superior Energy Services (U.S.)
  • Tenaris Sa (Luxembourg.)
  • Torqueflow-Sydex Ltd (U.K.)
  • Weatherford Plc (U.S)

Key Topics Covered:

1. Introduction

2. Market Overview

3. Market Determinants

4. Market Segmentation

5. Competitive Landscape

6. Geographical Analysis

7. Company Profiles

For more information about this report visit https://www.researchandmarkets.com/research/z5wvk2/global_artificial

Media Contact:

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com  

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Related Links

http://www.researchandmarkets.com