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Artificial Lift Systems Market By Type (Electrical Submersible Pumps, Rod Lift, Progressive Cavity Pumps, Gas Lift) – Growth, Future Prospects & Competitive Analysis, 2016 – 2023

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Published: | Report ID: 2043 | Report Format : PDF

Market Insights

Artificial lift systems in the oil and gas industry refer to the use of artificial means to increase the flow of crude oil from the well. An artificial lift system is a kind of enhanced oil recovery technique widely used to improve good products, especially for matured reserves as well as reserves with high-viscosity crude oil.

An artificial lift system is a low-cost conventional technique used to improve oil production from the well. It is done through various methods, such as increasing the extraction rate using submersible pumps, which is the most popular artificial lifting method. Further, methods such as rod lift, gas lift, and progressive cavity pumps are expected to gain traction over the forecast period.

The artificial lift system market is expected to gain momentum with the growing demand for fossil fuels coupled with the increasing number of mature reserves across the globe, which are expected to drive the demand for artificial lift systems. Further, volatile oil prices are influencing oil companies to reduce their per-barrel cost of oil production. Thus, demand for EOR techniques, such as artificial lift systems, is expected to increase during the forecast period.

Moreover, the growing number of matured reserves and increasing exploration of non-conventional reserves are expected to fuel the demand for an artificial lift system over the forecast period (2016–2023). However, high initial installation costs and a lack of skilled labor for artificial lifting are expected to hamper the growth of the artificial lift system market during the forecast period (2016–2023).

North America is expected to be the largest region in the global market for artificial lifting systems. Increasing shale gas production coupled with growing deep-water drilling in the U.S.

Gulf of Mexico is anticipated to drive the demand for artificial lifting systems in the region. Followed by it, Europe is anticipated to be the second largest region in the global artificial lifting market owing to the increasing focus of the economies in Europe to achieve self-sufficiency, which is projected to fuel the demand for artificial lifting systems during the forecast period (2016–2023). The Middle East and Africa (MEA) are anticipated to be the fastest-growing among all the regions.

It offers the most attractive opportunity for the artificial lifting system market due to the availability of the largest number of matured wells in the region. Furthermore, the oil and gas industry slowdown is limiting investment in the exploration of new oil wells. Thus, oil producers are looking to enhance production from existing wells to reduce their per-barrel production cost.

The global artificial lifting systems market is expected to be valued at US$ 14.4 billion by the end of 2016 and is projected to expand at a CAGR of 4.7% during the forecast period of 2016–2023.

Purpose of the Report

The purpose of this strategic research study titled “Global Artificial Lifting System Market: Growth, Future Prospects, Competitive Analysis, and Forecast, 2016–2023” is to provide company executives, industry investors, and industry participants with in-depth insights to enable them to make informed strategic decisions regarding the opportunities in the global artificial lifting system market.

Target Audience

  • Industry Investors
  • Research Professionals
  • Emerging Companies
  • Oil field services companies
  • Oil and gas exploration and production companies
  • Research Institutes

On the basis of type, the global artificial lift market is categorized into the following types:

  • Electrical submersible pumps
  • Rod Lift
  • Progressive Cavity Pumps
  • Gas Lift
  • others (hydraulic, Prelinger Lift).

On the basis of type, the global artificial lift market can be segmented into electrical submersible pumps, rod lifts, progressive cavity pumps, gas lifts, and others.

Among all types of artificial lift systems, the electrical submersible pumps segment was anticipated to be the largest segment in 2016, accounting for a significant revenue share in the global artificial lift market. The growth of the segment is augmented by the high adoption of electrical submersible pumps in the artificial lifting of hydrocarbons from the oil well.

Rod lift is anticipated to be the fastest-growing segment due to the increasing adoption of the method, as it is cost-effective and considered the most efficient method to extract hydrocarbons. The segment is anticipated to gain significant market share by 2023.

Progressive cavity pumps, gas lifts, and other segments are expected to collectively account for over 20% of the global artificial lifting market in 2016 and are anticipated to register steady growth over the forecast period (2016–2023).

On the basis of geography, the global market for artificial lifting systems is segmented into the following categories:

  • North America
    • US.
    • Canada
  • Europe
    • Germany
    • France
    • UK.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-east Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of the Middle East and Africa

The global market for artificial lifting systems is segmented on the basis of geography. North America is expected to be the largest region in the global market for artificial lifting systems. Growing shale gas production and increasing deep-water drilling in the U.S. and Canada are projected to fuel the demand for artificial lifting systems in the region.

Followed by it, Europe is anticipated to be the second largest market for artificial lifting systems due to the increasing focus of economies to achieve self-sufficiency in the region coupled with favorable regulatory policies for the adoption of artificial lifting in the region. The region is anticipated to grow at a moderate rate during the forecast period (2016–2023).

The Middle East and Africa (MEA) are projected to be the fastest-growing segment due to the availability of high-quality reserves in the region, which, coupled with high natural gas reserves in countries such as Oman, Nigeria, Angola, and Kuwait, are anticipated to augment the growth of the artificial lift system market over the forecast period (2016–2023).

1. Preface
1.1. Report Scope and Description
1.2. Research Methodology
1.2.1. Phase I-Secondary Research
1.2.2. Phase II-Primary Research
1.2.3. Phase II-Expert Panel Review
1.2.4. Assumptions
1.2.5. Approach Adopted

2. Executive Summary
2.1. Global Artificial Lift System Market Snapshot
2.1.1. Global Artificial Lift System Market by Type, 2015
2.1.2. Global Artificial Lift System Market by Geography, 2015
2.1.3. Market Drivers, Challenges and Trends

3. Market Dynamics
3.1. Market Overview
3.2. Value Chain Analysis
3.3. Drivers
3.4. Challenges
3.5. Future Prospects
3.6. Impact Analysis of Drivers and Challenges
3.7. Porter’s Five Force Analysis
3.7.1. Bargaining Power Of Suppliers
3.7.2. Bargaining Power Of Buyers
3.7.3. Threat Of Substitutes
3.7.4. Threat Of New Entrants
3.7.5. Industry Rivalry
3.8. Key Players Market Share Analysis

4. Global Artificial Lift System Market Size , By Type, 2013 – 2023
4.1. Overview
4.1.1. Market Share Analysis by Type, 2015 vs 2023
4.1.2. Attractive Investment Proportion by Type
4.2. Electrical Submersible Pumps
4.3. Rod Lift
4.4. Progressive Cavity Pumps
4.5. Gas Lift
4.6. Others

5. Global Fire Protection System Size Market for Oil & Gas Industry, By Geography, 2013 – 2023
5.1. Overview
5.1.1. Market Share Analysis by Geography, 2015 vs. 2023
5.1.2. Attractive Investment Proportion by Geography
5.2. North America Artificial Lift System Market Analysis, 2013 – 2023
5.2.1. North America Artificial Lift System Market Size , By Country, 2013 – 2023
5.2.1.1. U.S.
5.2.1.2. Canada
5.2.2. North America Artificial Lift System Market Size, By Type, 2013 – 2023
5.2.2.1. Electrical Submersible Pumps
5.2.2.2. Rod Lift
5.2.2.3. Progressive Cavity Pumps
5.2.2.4. Gas Lift
5.2.2.5. Others
5.3. Europe Artificial Lift System Market Analysis, 2013 – 2023
5.3.1. Europe Artificial Lift System Market Size, By Country, 2013 – 2023
5.3.1.1. Russia
5.3.1.2. U.K
5.3.1.3. Rest of Europe
5.3.2. Europe Artificial Lift System Market Size, By Type, 2013 – 2023
5.3.2.1. Electrical Submersible Pumps
5.3.2.2. Rod Lift
5.3.2.3. Progressive Cavity Pumps
5.3.2.4. Gas Lift
5.3.2.5. Others
5.4. Asia Pacific Artificial Lift System Market Analysis, 2013 – 2023
5.4.1. Asia Pacific Artificial Lift System Market Size, By Country, 2013 – 2023
5.4.1.1. China
5.4.1.2. India
5.4.1.3. Rest of Asia Pacific
5.4.2. Asia Pacific Artificial Lift System Market Size, By Type, 2013 – 2023
5.4.2.1. Electrical Submersible Pumps
5.4.2.2. Rod Lift
5.4.2.3. Progressive Cavity Pumps
5.4.2.4. Gas Lift
5.4.2.5. Others
5.5. Latin America Artificial Lift System Market Analysis, 2013 – 2023
5.5.1. Latin America Artificial Lift System Market Size, By Country, 2013 – 2023
5.5.1.1. Brazil
5.5.1.2. Mexico
5.5.1.3. Rest of Latin America
5.5.2. Latin America Artificial Lift System Market Size, By Type, 2013 – 2023
5.5.2.1. Electrical Submersible Pumps
5.5.2.2. Rod Lift
5.5.2.3. Progressive Cavity Pumps
5.5.2.4. Gas Lift
5.5.2.5. Others
5.6. Middle East & Africa (MEA) Artificial Lift System Market Analysis, 2013 – 2023
5.6.1. MEA Artificial Lift System Market Size, By Country, 2013 – 2023
5.6.1.1. GCC
5.6.1.2. Rest of MEA
5.6.2. MEA Artificial Lift System Market Size, By Type, 2013 – 2023
5.6.2.1. Electrical Submersible Pumps
5.6.2.2. Rod Lift
5.6.2.3. Progressive Cavity Pumps
5.6.2.4. Gas Lift
5.6.2.5. Others

6. Company Profiles
6.1. Competitive Dashboard
6.2. Key Players
6.2.1. Baker Hughes Incorporated
6.2.1.1. Business Description
6.2.1.2. Financial Information
6.2.1.3. Product Positions/Portfolio
6.2.1.4. Key Developments
6.2.2. Borets
6.2.3. Dover Corporation
6.2.4. General Electric.
6.2.5. Halliburton Company
6.2.6. Schlumberger Limited
6.2.7. Weatherford International plc
6.2.8. Kudu Industries Llc
6.2.9. National Oilwell Varco Inc.
6.2.10. Norris Production Solutions
6.2.11. Tenaris S.A.

List of Figures

Figure 1: Global Artificial Lift System Market Revenue (US$ Bn) Forecast, 2016-2023
Figure 2: Global Artificial Lift System Market YOY Growth Comparison, 2016-2023
Figure 3: Global Artificial Lift System Market Share (%) Analysis Forecast, by Type, 2016-2023
Figure 4 : Global Artificial Lift System Market Investment Proportion by Type, 2016-2023
Figure 5: Global Artificial Lift System Market YOY(%) Comparison by Geography, 2016-2023
Figure 6: Global Artificial Lift System Market Share (%) Analysis, by Geography, 2016-2023
Figure 7: Global Artificial Lift System Market Investment Proportion by Geography, 2016-2023
Figure 8: North America Artificial Lift System Market Revenue (US$ Bn) Forecast by Country, 2016-2023
Figure 9: North America Artificial Lift System Market Share Analysis by Country, 2016-2023
Figure 10: North America Artificial Lift System Market Investment Proportion by Country
Figure 11: Europe Artificial Lift System Market Revenue (US$ Bn) Forecast by Country, 2016-2023
Figure 12: Europe Artificial Lift System Market Share Analysis by Country, 2016-2023
Figure 13: Europe Artificial Lift System Market Investment Proportion by Country, 2016-2023
Figure 14: Asia Pacific Artificial Lift System Market Revenue (US$ Bn) Forecast by Country, 2016-2023
Figure 15: Asia Pacific Artificial Lift System Market Share Analysis by Country, 2016-2023
Figure 16: Asia Pacific Artificial Lift System Market Investment Proportion by Country, 2016-2023
Figure 17: Latin America Artificial Lift System Market Revenue (US$ Bn) Forecast by Country, 2016-2023
Figure 18: Latin America Artificial Lift System Market Share Analysis by Country, 2016-2023
Figure 19: Latin America Artificial Lift System Market Investment Proportion by Country, 2016-2023
Figure 20: Middle East & Africa (MEA) Artificial Lift System Market Revenue (US$ Bn) Forecast by Country, 2016-2023
Figure 21: Middle East & Africa Artificial Lift System Market Share Analysis by Country, 2016-2023
Figure 22: Middle East & Africa Artificial Lift System Market Investment Proportion by Country, 2016-2023

List of Tables

Table 1: Global Artificial Lift System Market Revenue (US$ Bn) Forecast, by Type, 2016-2023
Table 2: Global Artificial Lift System Market Revenue (US$ Bn) Forecast, by Geography, 2016-2023
Table 3: North America Artificial Lift System Market Revenue (US$ Bn) Forecast, by Country, 2016-2023
Table 4: North America Artificial Lift System Market Revenue (US$ Bn) Forecast, by Type, 2016-2023
Table 7: Europe Artificial Lift System Market Revenue (US$ Bn) Forecast, by Country, 2016-2023
Table 8: Europe Artificial Lift System Market Revenue (US$ Bn) Forecast, by Type, 2016-2023
Table 9: Asia Pacific Artificial Lift System Market Revenue (US$ Bn) Forecast, by Country, 2016-2023
Table10: Asia Pacific Artificial Lift System Market Revenue (US$ Bn) Forecast, by Type, 2016-2023
Table 11: Latin America Artificial Lift System Market Revenue (US$ Bn) Forecast, by Country, 2016-2023
Table 12: Latin America Artificial Lift System Market Revenue (US$ Bn) Forecast, by Type, 2016-2023
Table 13: Middle East & Africa Artificial Lift System Market Revenue (US$ Bn) Forecast, by Country, 2016-2023
Table 14: Middle East & Africa Artificial Lift System Market Revenue (US$ Bn) Forecast, by Type, 2016-2023
Table 15: Baker Hughes Incorporated: Company Snapshot (Business Description; Financial Information; Product Position/Portfolio; News Coverage))
Table 16: Borets: Company Snapshot (Business Description; Financial Information; Product Position/Portfolio; News Coverage)
Table 17: Dover Corporation.: Company Snapshot (Business Description; Financial Information; Product Position/Portfolio; News Coverage)
Table 18: General Electric: Company Snapshot (Business Description; Financial Information; Product Position/Portfolio; News Coverage)
Table 19: Halliburton Company: Company Snapshot (Business Description; Financial Information; Product Position/Portfolio; News Coverage)
Table 20: Schlumberger Limited.: Company Snapshot (Business Description; Financial Information; Product Position/Portfolio; News Coverage)
Table 21: Weatherford International plc Company Snapshot (Business Description; Financial Information; Product Position/Portfolio; News Coverage)
Table 22: Kudu Industries Llc.: Company Snapshot (Business Description; Financial Information; Product Position/Portfolio; News Coverage)
Table 23: National Oilwell Varco Inc.: Company Snapshot (Business Description; Financial Information; Product Position/Portfolio; News Coverage)
Table 24: Norris Production Solutions: Company Snapshot (Business Description; Financial Information; Product Position/Portfolio; News Coverage)
Table 25: Tenaris S.A.: Company Snapshot (Business Description; Financial Information; Product Position/Portfolio; News Coverage)

Frequently Asked Question:

What is the size of Artificial Lift System Market?

The market for Artificial Lift System Market is expected to reach USD$ 19.8 Bn in 2023.

What is the Artificial Lift System Market CAGR?

The Artificial Lift System Market is expected to see significant CAGR growth over the coming years, at 4.7%.

What is the Forecast period considered for Artificial Lift System Market?

The report is forecasted from 2016 -2023.

What is the base year considered for Artificial Lift System Market?

The base year of this report is 2015.

Who are the major players in this market?

Competitive Dashboard,Baker Hughes Incorporated,. Business Description, Financial Information. are some of the major players in the global market.

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