Synopsis
The global artificial lift market is facing an upward trend due to decline in oil reservoirs, increase in shale oil and gas production. However, strict government and regulations and environmental problems associated oil and gas production are inhibiting the growth of the artificial lift market. The decline in oil prices has instigated a global lockdown on exploration investments, with the majority of companies facing huge losses. Oil & Gas companies have increased their emphasis on optimizing operational field production, and increasing production efficiency to lower the costs. Such a profound change in the strategic outlook is expected to inevitably instigate an increase in demand for production optimization equipment such as artificial lift systems. The global artificial lift market is expected to grow at a CAGR of 7-8% during the forecast period from 2016 to 2021.
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Key Findings
The key findings of the report “Global Artificial Lift Market include:
Depleting oil reservoirs, and increasing number of mature oil fields are major factors driving the growth of the artificial lift market
Strict government regulations and environmental issues associated with the oil and gas production is inhibiting the growth of the artificial lift market
Geographically, North America has the largest share in global artificial lift market and is also expected to be the fastest growing region
Based on the type, electric submersible pumps have the largest market share in the artificial lift market.
Segments
Segmentation for Artificial Lift Market involves the following types such as rod lift, electric submersible pump (ESP), progressive cavity pumps (PCP), gas lift, and others. Other types used include plunger lift, and hydraulic jet pumps which have a small contribution within the artificial lift market.
Regional Analysis of Artificial LiftNorth America dominated the Global Artificial Lift Market with the largest market share in 2015. It is expected to retain its dominance in the market with a high growth rate. Presence of large shale oil & gas reserves, as well as tight oil reserves is expected to aid the North American market for artificial lift. The European region held the second largest share within the artificial lift market is expected to grow at a moderate rate during the forecast period, between 2016 and 2021. Asia-Pacific market is expected to exhibit a comparatively high growth than Europe. Increasing focus towards development of shale gas projects in countries such as China, and Indonesia is expected to be a major factor driving the Asia-pacific market.
Key PlayersSome of the key players for this market are: Baker Hughes, Borets, Cameron International, Dover Corporation, GE Oil & Gas, Halliburton, John Crane, National Oilwell Varco, Schlumberger, and Weatherford.
Table of Contents
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About Us
Wise Guy Reports is part of the Wise Guy Consultants Pvt. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe. Wise Guy Reports understand how essential statistical surveying information is for your organization or association. Therefore, we have associated with the top publishers and research firms all specialized in specific domains, ensuring you will receive the most reliable and up to date research data available.
Contact Us:
NORAH TRENT
Partner Relations & Marketing Manager
sales@wiseguyreports.com
www.wiseguyreports.com
Ph: +1-646-845-9349 (US)
Ph: +44 208 133 9349 (UK)
The global artificial lift market is facing an upward trend due to decline in oil reservoirs, increase in shale oil and gas production. However, strict government and regulations and environmental problems associated oil and gas production are inhibiting the growth of the artificial lift market. The decline in oil prices has instigated a global lockdown on exploration investments, with the majority of companies facing huge losses. Oil & Gas companies have increased their emphasis on optimizing operational field production, and increasing production efficiency to lower the costs. Such a profound change in the strategic outlook is expected to inevitably instigate an increase in demand for production optimization equipment such as artificial lift systems. The global artificial lift market is expected to grow at a CAGR of 7-8% during the forecast period from 2016 to 2021.
Click here for sample report @ http://www.wiseguyreports.com/sample-request/735253-artificial-lift-market-forecast-to-2022
Key Findings
The key findings of the report “Global Artificial Lift Market include:
Depleting oil reservoirs, and increasing number of mature oil fields are major factors driving the growth of the artificial lift market
Strict government regulations and environmental issues associated with the oil and gas production is inhibiting the growth of the artificial lift market
Geographically, North America has the largest share in global artificial lift market and is also expected to be the fastest growing region
Based on the type, electric submersible pumps have the largest market share in the artificial lift market.
Segments
Segmentation for Artificial Lift Market involves the following types such as rod lift, electric submersible pump (ESP), progressive cavity pumps (PCP), gas lift, and others. Other types used include plunger lift, and hydraulic jet pumps which have a small contribution within the artificial lift market.
Regional Analysis of Artificial LiftNorth America dominated the Global Artificial Lift Market with the largest market share in 2015. It is expected to retain its dominance in the market with a high growth rate. Presence of large shale oil & gas reserves, as well as tight oil reserves is expected to aid the North American market for artificial lift. The European region held the second largest share within the artificial lift market is expected to grow at a moderate rate during the forecast period, between 2016 and 2021. Asia-Pacific market is expected to exhibit a comparatively high growth than Europe. Increasing focus towards development of shale gas projects in countries such as China, and Indonesia is expected to be a major factor driving the Asia-pacific market.
Key PlayersSome of the key players for this market are: Baker Hughes, Borets, Cameron International, Dover Corporation, GE Oil & Gas, Halliburton, John Crane, National Oilwell Varco, Schlumberger, and Weatherford.
Table of Contents
- REPORT PROLOGUE
2. INTRODUCTION
2.1 DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 RESEARCH OBJECTIVE
2.2.2 ASSUMPTIONS
2.2.3 LIMITATIONS
2.3 MARKET STRUCTURE
2.4. MARKET SEGMENTATION
3. RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS
3.3 PRIMARY RESEARCH
3.3 SECONDARY RESEARCH
3.4 MARKET SIZE ESTIMATION
3.5 FORECAST MODEL
4. MARKET DYNAMICS
4.1 MACROECONOMIC INDICATORS
4.2 DRIVERS & OPPURTUNITIES
4.3 CHALLENGES & RESTRAINTS
4.4 IMPORTANT POINTERS BY INDUSTRY EXPERTS
For Detailed Reading Please visit @ https://www.wiseguyreports.com/reports/735253-artificial-lift-market-forecast-to-2022
About Us
Wise Guy Reports is part of the Wise Guy Consultants Pvt. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe. Wise Guy Reports understand how essential statistical surveying information is for your organization or association. Therefore, we have associated with the top publishers and research firms all specialized in specific domains, ensuring you will receive the most reliable and up to date research data available.
Contact Us:
NORAH TRENT
Partner Relations & Marketing Manager
sales@wiseguyreports.com
www.wiseguyreports.com
Ph: +1-646-845-9349 (US)
Ph: +44 208 133 9349 (UK)
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