Global Artificial Lift Systems Market Growth 2023-2029

Global Artificial Lift Systems 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 Systems Industry Forecast” looks at past sales and reviews total world Artificial Lift Systems sales in 2022, providing a comprehensive analysis by region and market sector of projected Artificial Lift Systems sales for 2023 through 2029. With Artificial Lift Systems sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Artificial Lift Systems industry.

This Insight Report provides a comprehensive analysis of the global Artificial Lift Systems 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 Systems portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Artificial Lift Systems market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Artificial Lift Systems 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 Systems.

The global Artificial Lift Systems market size is projected to grow from US$ 8731.6 million in 2022 to US$ 10810 million in 2029; it is expected to grow at a CAGR of 10810 from 2023 to 2029.

The North American artificial lift systems market is anticipated to witness high growth over the forecast period. This growth is ascribed to the advances in the field of shale gas discovery and availability of low-pressure oil wells in the region. Additionally, the U.S. is expected to witness high growth in unconventional resources such as shale oil, tight oil, and growing marginal well count, which is anticipated to spur the future artificial lifts demand in North America.

This report presents a comprehensive overview, market shares, and growth opportunities of Artificial Lift Systems 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

Segmentation by application
Oil & Gas Industry
Others

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 Systems market?

What factors are driving Artificial Lift Systems market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Artificial Lift Systems market opportunities vary by end market size?

How does Artificial Lift Systems 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.