Global Artificial Lift Market Growth 2023-2029

Global Artificial Lift Market Growth 2023-2029

Artificial lift is a method used to lower the producing bottomhole pressure (BHP) on the formation to obtain a higher production rate from the well. This can be done with a positive-displacement downhole pump, such as a beam pump or a progressive cavity pump (PCP), to lower the flowing pressure at the pump intake. It also can be done with a downhole centrifugal pump, which could be a part of an electrical submersible pump (ESP) system. Most oil wells require artificial lift at some point in the life of the field, and many gas wells benefit from artificial lift to take liquids off the formation so gas can flow at a higher rate.
LPI (LP Information)' newest research report, the “Artificial Lift Industry Forecast” looks at past sales and reviews total world Artificial Lift sales in 2022, providing a comprehensive analysis by region and market sector of projected Artificial Lift sales for 2023 through 2029. With Artificial Lift sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Artificial Lift industry.
This Insight Report provides a comprehensive analysis of the global Artificial Lift landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Artificial Lift portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Artificial Lift market.
This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Artificial Lift and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Artificial Lift.
The global Artificial Lift market size is projected to grow from US$ 10660 million in 2022 to US$ 13500 million in 2029; it is expected to grow at a CAGR of 13500 from 2023 to 2029.
The major players in global Artificial Lift market include Weatherford, Schlumberger, General Electric, etc. The top 3 players occupy about 50% shares of the global market. North America is the main market, and occupies over 60% of the global market. ESP is the main type, with a share about 45%. Onshore and Offshore are main applications.
This report presents a comprehensive overview, market shares, and growth opportunities of Artificial Lift market by product type, application, key manufacturers and key regions and countries.
Market Segmentation:
Segmentation by type
Rod Lift
ESP
PCP
Hydraulic Pumps
Gas Lift
Plunger Lift
Others
Segmentation by application
Onshore
Offshore
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Weatherford
Schlumberger
General Electric
GE(Baker Hughes)
Halliburton
Dover
National Oilwell Varco
Borets
Cameron
Novomet
Key Questions Addressed in this Report
What is the 10-year outlook for the global Artificial Lift market?
What factors are driving Artificial Lift market growth, globally and by region?
Which technologies are poised for the fastest growth by market and region?
How do Artificial Lift market opportunities vary by end market size?
How does Artificial Lift break out type, application?
What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.