Artificial Lift System Market: Global Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2017 to 2021 and Forecast 2022 to 2028

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Artificial Lift System Market: By Technology (Progressive Cavity Pumps (PCP), Electrical Submersible Pumps (ESP), Gas Lift, Rod Lift, Hydraulic Pumps Others) Application (Onshore, Offshore) and Geography

 

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Report

Description

Artificial Lift System Market size was valued at USD 27.4 billion in 2021, growing at a CAGR of 7.6% during the forecast period 2022 to 2028. The global market provides a detailed overview of the market and can be segmented by technology, by application. By Technology, the global market has been segmented 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, Offshore. Among these, the offshore segment is expected to have the fastest-growing market during the forecast period 2022-2028.

The Artificial Lift System Market Key Developments:

In Feb 2022, all of the electrical parts that are 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

MARKET SUMMARY
-
7.6%
  • Study Period– 2022 – 2028
  • Base Year– 2021
  • CAGR– 7.6%
  • Largest Market– North America
  • Fastest Growing Market–  Asia Pacific

Artificial Lift System Market

  • The artificial lift system market report gives a comprehensive outlook across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
  • The artificial lift system market report gives historical, current, and future market sizes (US$ Mn) on the basis of by technology and geography
Key Players
  • Schlumberger
  • Weatherford International
  • Baker Hughes Company
  • Halliburton
  • Well Master Corporation
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

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
Latin-America
North-America
North-America
Europe
Europe
Asia Pacific
Asia-Pacific
Middle East
Middle East
Artificial Lift System market segmentation


Location

GEOGRAPHY

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


Report

Table Of Content

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, 2017 – 2021 and Forecast, 2022 – 2028
4.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (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, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
5.1. Progressive Cavity Pumps (PCP)
5.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (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, 2017 – 2021 and Forecast, 2022 – 2028 (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, 2017 – 2021 and Forecast, 2022 – 2028 (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, 2017 – 2021 and Forecast, 2022 – 2028 (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, 2017 – 2021 and Forecast, 2022 – 2028 (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, 2017 – 2021 and Forecast, 2022 – 2028 (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, 2017 – 2021 and Forecast, 2022 – 2028
6.1. Onshore
6.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (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, 2017 – 2021 and Forecast, 2022 – 2028 (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, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
7.1. North America
7.1.1. Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (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, 2017 – 2021 and Forecast, 2022 – 2028 (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, 2017 – 2021 and Forecast, 2022 – 2028 (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, 2017 – 2021 and Forecast, 2022 – 2028 (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, 2017 – 2021 and Forecast, 2022 – 2028 (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, 2022 – 2028
8. North America Artificial Lift System Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
8.1. Technology Analysis 2017 – 2021 and Forecast 2022 – 2028 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 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
8.2.1. Onshore
8.2.2. Offshore
8.3. Country Analysis 2017 – 2021 and Forecast 2022 – 2028 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, 2022 – 2028
8.5. North America Artificial Lift System Market Dynamics – Trends
9. Europe Artificial Lift System Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
9.1. Technology Analysis 2017 – 2021 and Forecast 2022 – 2028 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 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
9.2.1. Onshore
9.2.2. Offshore
9.3. Country Analysis 2017 – 2021 and Forecast 2022 – 2028 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, 2022 – 2028
9.5. Europe Artificial Lift System Market Dynamics – Trends
10. Asia-Pacific Artificial Lift System Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
10.1. Technology Analysis 2017 – 2021 and Forecast 2022 – 2028 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 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
10.2.1. Onshore
10.2.2. Offshore
10.3. Country Analysis 2017 – 2021 and Forecast 2022 – 2028 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, 2022 – 2028
10.5. Asia-Pacific Artificial Lift System Market Dynamics – Trends
11. Latin America Artificial Lift System Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
11.1. Technology Analysis 2017 – 2021 and Forecast 2022 – 2028 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 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
11.2.1. Onshore
11.2.2. Offshore
11.3. Country Analysis 2017 – 2021 and Forecast 2022 – 2028 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, 2022 – 2028
11.5. Latin America Artificial Lift System Market Dynamics – Trends
12. Middle East and Africa Artificial Lift System Market Analysis, 2017 – 2021 and Forecast, 2022 – 2028 (Revenue, USD Mn)
12.1. Technology Analysis 2017 – 2021 and Forecast 2022 – 2028 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 2017 – 2021 and Forecast 2022 – 2028 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%)
12.2.1. Onshore
12.2.2. Offshore
12.3. Country Analysis 2017 – 2021 and Forecast 2022 – 2028 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, 2022 – 2028
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

Report

Company Profile

  • Schlumberger
  • Weatherford International
  • Baker Hughes Company
  • Halliburton
  • Well Master Corporation
  • Novomet
  • NOV
  • Borets International Ltd
  • JJ Tech
  • GE Company

Description

Artificial Lift System Market size was valued at USD 27.4 billion in 2021, growing at a CAGR of 7.6% during the forecast period 2022 to 2028. The global market provides a detailed overview of the market and can be segmented by technology, by application. By Technology, the global market has been segmented 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, Offshore. Among these, the offshore segment is expected to have the fastest-growing market during the forecast period 2022-2028.

The Artificial Lift System Market Key Developments:

In Feb 2022, all of the electrical parts that are 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.

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