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Artificial Lift Market Projected to reach USD 9.69 billion by 2021, growing at a CAGR of 4.91% from 2016 to 2021

Press Release   •   Jun 06, 2017 03:46 GMT

"Artificial Lift Market Projected to reach USD 9.69 billion by 2021, growing at a CAGR of 4.91% from 2016 to 2021" published in June 2017. It is a professional and in-depth study.

Summary

Market Research Report Storeannounces a new report"Artificial Lift Market"added to its database.The artificial lift market is projected to reach USD 9.69 billion by 2021, growing at a CAGR of 4.91% from 2016 to 2021. Artificial lift systems are used in onshore and offshore applications. Production activities in oil rich countries and increasing shale gas production in North America and the Asia-Pacific regions are expected to drive the artificial lift market.

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“The electrical submersible pumps segment is expected to grow at the highest CAGR from 2016 to 2021”

Based on type of artificial lift systems, the electrical submersible pumps segment is estimated to be the fastest growing market from 2016 to 2021. These pumps are used in low-sand oilfields, low-carbonate reservoirs, and highly deviated wells. Also, these pumps are usually used for offshore applications due to their ability to handle high-volume wells. The production efficiency of ESP is sustained even at depths of about 4,000 m. Its sustained performance and high operating volumes provides it a competitive edge over the other pumps.

“North America: The largest market for artificial lift”

North America is currently the largest market for artificial lifts, followed by Europe and the Asia-Pacific. The North American market is driven by presence of large number of mature oilfields and increasing shale gas production in the region. The market in the North American region is projected to grow at a moderate rate, with the U.S. expected to dominate the market. The rod lift method is the major artificial lift method used in North America because of its onshore production capabilities.

Breakdown of Primaries:

In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects.

The distribution of primary interviews is as follows:

By Company Type: Tier 1- 60%, Tier 2- 30%, Tier 3- 10%

By Designation: C-Level- 30%, D-Level- 60%, Others- 10%

By Region: North America- 30%, Asia-Pacific- 40%, Europe- 10%, Rest of the World- 20%

Scope of the Report:

Ø By Type

The artificial lift market has been segmented based on type into electrical submersible pumps, rod lift, progressive cavity pumps, gas lift, and others. Others include hydraulic pumping systems and plunger lift.

Ø By Mechanism

The artificial lift market has been segmented based on mechanism into pump assisted and gas assisted. The pump assisted segment further includes positive displacement and dynamic displacement.

Ø By Application

The artificial lift market has been segmented based on application into onshore and offshore

Ø By Region

The global artificial lift market is analyzed with respect to five regions, namely, North America, Europe, Asia-Pacific, South & Central America, and the Middle East & Africa.

Why buy this report?

1. The report identifies and addresses key markets for artificial lift, which would help suppliers review the growth in the demand for the product.

2. The report helps solution providers understand the pulse of the market, and provides insights into drivers, restraints, and challenges.

3. The report will help key players understand the strategies of their competitors better, and will help in making strategic decisions.

Table Of Contents

1 INTRODUCTION 13

1.1 OBJECTIVES OF THE STUDY 13

1.2 MARKET DEFINITION 13

1.3 MARKET SCOPE 13

1.3.1 ARTIFICIAL LIFT MARKET: MARKET SEGMENTATION 14

1.3.2 GEOGRAPHIC SCOPE 15

1.3.3 YEARS CONSIDERED FOR THE STUDY 15

1.4 CURRENCY 16

1.5 LIMITATIONS 16

1.6 STAKEHOLDERS 16

2 RESEARCH METHODOLOGY 17

2.1 RESEARCH DATA 17

2.1.1 SECONDARY DATA 18

2.1.1.1 Key data from secondary sources 18

2.1.2 PRIMARY DATA 19

2.1.2.1 Key data from primary sources 19

2.1.2.2 Key industry insights 20

2.1.2.3 Breakdown of primaries 20

2.2 MARKET SIZE ESTIMATION 21

2.2.1 BOTTOM-UP APPROACH 21

2.2.2 TOP-DOWN APPROACH 22

2.3 MARKET BREAKDOWN & DATA TRIANGULATION 23

2.4 RESEARCH ASSUMPTIONS 24

3 EXECUTIVE SUMMARY 25

3.1 INTRODUCTION 25

3.2 HISTORICAL BACKDROP, EVOLUTION, & CURRENT SCENARIO 25

3.3 FUTURE OUTLOOK 27

3.4 CONCLUSION 29

4 PREMIUM INSIGHTS 30

4.1 NORTH AMERICA IS EXPECTED TO HOLD THE LARGEST MARKET SHARE DURING THE FORECAST PERIOD 31

4.2 ARTIFICIAL LIFT MARKET, BY APPLICATION 32

4.3 ARTIFICIAL LIFT MARKET, BY TYPE 32

4.4 ARTIFICIAL LIFT MARKET, BY MECHANISM 33

4.5 NORTH AMERICA: ARTIFICIAL LIFT MARKET 33

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Market Research Report Store

About Market Research Report Store

Market Research Report Store is one of the most fast-growing and professional online platforms for industry reports, market reports, and professional surveys. Our collection covers more than 100 global markets. We have cooperated with leading publishers and consultant companies to offer the best market intelligence products to our clients with instant access to our database.

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