- Progressive Cavity Pumps (PCP)
- Â Electrical Submersible Pumps (ESP)
- Â Gas Lift
- Rod Lift
- Hydraulic Pumps
- Others
Artificial Lift System Market size was valued at USD 27.4 billion in 2022, growing at a significant CAGR of 7.6% from 2023 to 2029. The global market provides a detailed overview of the market and can be segmented by technology, and application. Technology has segmented the global market into Progressive Cavity Pumps (PCP), Electrical Submersible Pumps (ESP), Gas Lift, Rod Lift, Hydraulic Pumps Others. The Progressive Cavity Pumps (PCP) Artificial Lift System segment is likely to be the largest and fastest-growing segment in terms of technology. Based on Application, the global Artificial Lift System market is segmented into Onshore and offshore. Among these, the offshore segment is expected to have the fastest-growing market during the forecast period
Artificial Lift System Market Key Developments:
- In Feb 2022, all of the electrical parts prone to failure are hermetically separated from the corrosive production fluids by the Upwing Magnetic Drive System (MDS), which installs them in the well's annulus as part of the permanent completion.
- In June 2021, the two wells were improved by Oil Dynamics GmbH for an oilfield operator who chose to upgrade and replace the pumping system at its location close to Hannover, Germany.
Artificial Lift System Market Summary
Study Period
2024-2030
Base Year
2023
CAGR
7.6%
Largest Market
North America
Fastest Growing Market
Asia Pacific
Artificial Lift System Market Dynamics
Growing demand for automating customer care services and advanced technologies such as Artificial Intelligence (AI) and machine learning technologies are anticipated to propel the market growth over the forecast years. Moreover, the increasing preference for cloud-based contact center solutions is burgeoned the market growth over the forecast years
North-America Got Significant Share
Artificial Lift System Market Regional Analysis
By region, North America is expected to witness the highest market share during the forecast period due to the shale discoveries and the noticeable increase in exploration and production operations in the region, North America held a dominant share in the global artificial lift systems market in 2021.
Latin America
Europe
Asia Pacific
Middle East
North America
Key Features of the Reports
- The market report provides granular level information about the market size, regional market share, historic market (2018-2022), and forecast (2023-2029)
- The report covers in-detail insights about the competitor's overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments, and start-up details that are actively working in the market
- The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Artificial Lift System Market Segmentation
By Technology
By Application
- Onshore
- Offshore
By Geography
- Latin America
- Europe
- Asia Pacific
- Middle East
- North America
Frequently Asked Questions
Electric submersible pumps (ESPs) are considered the best options for use in large oil wells that have reached or passed their peak oil production period and require additional developments to increase output rates. Middle Eastern nations are more likely to experience this because there are numerous mature oilfields there that require for the use of artificial lift systems.
The global artificial lift system market size is valued at USD 16,543.8 million in 2021 and is expected to grow at a prominent growth rate during the forecast period 2022 to 2028.
The major key players of the Artificial Lift System market are Schlumberger Limited, Weatherford International Plc, Baker Hughes, a GE Company, Apergy Corporation, Borets International Limited, Superior Energy Services, Inc, National Oilwell Varco, Halliburton Inc., Occidental Petroleum Corporation, Flowco Production Solutions
| 1. Executive Summary |
| 2. Global Artificial Lift System Market Introduction |
| 2.1. Global Artificial Lift System Market - Taxonomy |
| 2.2. Global Artificial Lift System Market -Definitions |
| 2.2.1. By Technology |
| 2.2.2. By Application |
| 3. Global Artificial Lift System Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Global Artificial Lift System Market Dynamic Factors - Impact Analysis |
| 3.6. Global Artificial Lift System Market - Competition Landscape |
| 4. Global Artificial Lift System Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 |
| 4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Artificial Lift System Market, By Technology, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 5.1. Progressive Cavity Pumps (PCP) |
| 5.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Electrical Submersible Pumps (ESP) |
| 5.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Gas Lift |
| 5.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Rod Lift |
| 5.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 5.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 5.5. Hydraulic Pumps |
| 5.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 5.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.5.3. Market Opportunity Analysis |
| 5.6. Others |
| 5.6.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 5.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.6.3. Market Opportunity Analysis |
| 6. Global Artificial Lift System Market Forecast, By Application, 2018 - 2022 and Forecast, 2023 - 2029 |
| 6.1. Onshore |
| 6.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Offshore |
| 6.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 7. Global Artificial Lift System Market Forecast, By Region, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 7.1. North America |
| 7.1.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Asia-Pacific |
| 7.3.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Latin America |
| 7.4.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Middle East and Africa |
| 7.5.1. Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 7.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 7.6. Global Artificial Lift System Market - Opportunity Analysis Index, By Technology, By Application, and Region, 2023 - 2029 |
| 8. North America Artificial Lift System Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 8.1. Technology Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1. Progressive Cavity Pumps (PCP) |
| 8.1.2. Electrical Submersible Pumps (ESP) |
| 8.1.3. Gas Lift |
| 8.1.4. Rod Lift |
| 8.1.5. Hydraulic Pumps |
| 8.1.6. Others |
| 8.2. Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 8.2.1. Onshore |
| 8.2.2. Offshore |
| 8.3. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 8.3.1. USA |
| 8.3.2. Canada |
| 8.4. North America Artificial Lift System Market - Opportunity Analysis Index, By Technology, By Application, and Country, 2023 - 2029 |
| 8.5. North America Artificial Lift System Market Dynamics - Trends |
| 9. Europe Artificial Lift System Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 9.1. Technology Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1. Progressive Cavity Pumps (PCP) |
| 9.1.2. Electrical Submersible Pumps (ESP) |
| 9.1.3. Gas Lift |
| 9.1.4. Rod Lift |
| 9.1.5. Hydraulic Pumps |
| 9.1.6. Others |
| 9.2. Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 9.2.1. Onshore |
| 9.2.2. Offshore |
| 9.3. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 9.3.1. Germany |
| 9.3.2. UK |
| 9.3.3. France |
| 9.3.4. Spain |
| 9.3.5. Italy |
| 9.3.6. Russia |
| 9.3.7. Poland |
| 9.3.8. Rest of Europe |
| 9.4. Europe Artificial Lift System Market - Opportunity Analysis Index, By Technology, By Application, and Country, 2023 - 2029 |
| 9.5. Europe Artificial Lift System Market Dynamics - Trends |
| 10. Asia-Pacific Artificial Lift System Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 10.1. Technology Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1. Progressive Cavity Pumps (PCP) |
| 10.1.2. Electrical Submersible Pumps (ESP) |
| 10.1.3. Gas Lift |
| 10.1.4. Rod Lift |
| 10.1.5. Hydraulic Pumps |
| 10.1.6. Others |
| 10.2. Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 10.2.1. Onshore |
| 10.2.2. Offshore |
| 10.3. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 10.3.1. Japan |
| 10.3.2. China |
| 10.3.3. India |
| 10.3.4. ASEAN |
| 10.3.5. Australia & New Zealand |
| 10.3.6. Rest of Asia-Pacific |
| 10.4. Asia-Pacific Artificial Lift System Market - Opportunity Analysis Index, By Technology, By Application, and Country, 2023 - 2029 |
| 10.5. Asia-Pacific Artificial Lift System Market Dynamics - Trends |
| 11. Latin America Artificial Lift System Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 11.1. Technology Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1. Progressive Cavity Pumps (PCP) |
| 11.1.2. Electrical Submersible Pumps (ESP) |
| 11.1.3. Gas Lift |
| 11.1.4. Rod Lift |
| 11.1.5. Hydraulic Pumps |
| 11.1.6. Others |
| 11.2. Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 11.2.1. Onshore |
| 11.2.2. Offshore |
| 11.3. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 11.3.1. Brazil |
| 11.3.2. Mexico |
| 11.3.3. Argentina |
| 11.3.4. Rest of Latin America |
| 11.4. Latin America Artificial Lift System Market - Opportunity Analysis Index, By Technology, By Application, and Country, 2023 - 2029 |
| 11.5. Latin America Artificial Lift System Market Dynamics - Trends |
| 12. Middle East and Africa Artificial Lift System Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn) |
| 12.1. Technology Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1. Progressive Cavity Pumps (PCP) |
| 12.1.2. Electrical Submersible Pumps (ESP) |
| 12.1.3. Gas Lift |
| 12.1.4. Rod Lift |
| 12.1.5. Hydraulic Pumps |
| 12.1.6. Others |
| 12.2. Application Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 12.2.1. Onshore |
| 12.2.2. Offshore |
| 12.3. Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 12.3.1. Gulf Cooperation Council (GCC) Countries |
| 12.3.2. Israel |
| 12.3.3. South Africa |
| 12.3.4. Rest of MEA |
| 12.4. MEA Artificial Lift System Market - Opportunity Analysis Index, By Technology, By Application, and Country, 2023 - 2029 |
| 12.5. MEA Artificial Lift System Market Dynamics - Trends |
| 13. Competition Landscape |
| 13.1. Strategic Dashboard of Top Market Players |
| 13.2. Company Profiles (Introduction, Financial Analysis, Application & Service Offerings, Key Developments, Strategies, and SWOT Analysis) |
| 13.2.1. Schlumberger |
| 13.2.2. Weatherford International |
| 13.2.3. Baker Hughes Company |
| 13.2.4. Halliburton |
| 13.2.5. Well Master Corporation |
| 13.2.6. Novomet |
| 13.2.7. NOV |
| 13.2.8. Borets International Ltd |
| 13.2.9. JJ Tech |
| 13.2.10. GE Company |
| 14. Research Methodology |
| 15. Key Assumptions and Acronyms |
- Schlumberger
- Weatherford International
- Baker Hughes Company
- Halliburton
- Well Master Corporation
- Novomet
- NOV
- Borets International Ltd
- JJ Tech
- GE Company