Artificial Lift System Market Overview

The report is titled as ‘Artificial Lift System Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the artificial lift system market is the main objective of the report, which further consists the market opportunity and insights of the data involved in the making of the respective market. The artificial lift system market is expected to grow at significant rate in the near future.

The global  artificial lift system market in 2020 is estimated for more than US$ 7.9 Bn and expected to reach a value of US$ 11.7 Bn by 2028 with a significant CAGR of 5.0%.

Artificial Lift System Market Definition

In the present-day world, the production technique for extracting oil and other natural resources from wells is much advanced and efficient as the artificial lift system (AL) serves its utility in optimizing the production method in a more effective manner than the traditional techniques.

Basically, the artificial lift is an extraction technique that sinks the producing Bottom Hole Pressure (BHP) on the formation to acquire a much larger production rate from the well. Owing to this, the artificial lift system is grasping applications progressively across the globe. Therefore, the global artificial lift system market is projected to grow rapidly in the forthcoming years.

Noticeably, the artificial lift system backs gas and oil to move upward when the natural force is not sufficient to drive the oil to the surface, which conclusively makes the procedure easier and efficient, thereby adding to its benefits.

Artificial Lift System Market Dynamics

In the modern-day world, the surging oil exploration activities or activities such as the recovery of hydrocarbon resources from the reservoir occurs more frequently all across the world, which is majorly projected to boost the growth of the global artificial lifts system market in the upcoming future.

Along with that, the artificial lift system is considered a more productive and efficient technique over the natural Bottomhole Pressure Method, which further flourishes the growth of the global artificial lift system market.

On top of that, like all the other industry, this industry is also inclined towards modernizing and adopting technologically advanced products and equipment in order to optimize all the procedures, which in turn acts as one of the major drivers that is estimated to further propel the growth of the artificial lift system market during the forecast period.

By the same token, the growing need of technological advancements in the techniques coupled with the soaring demand for petrochemicals and energy all across the world is also expected to positively fuel the growth of the global artificial lift system market in the near future.

Furthermore, the climbing count of wells that require artificial support or propulsion for extraction across the world is also expected to augment the growth of the global artificial lift system market in the coming years.

Artificial Lift System Market Key Players

Some of the key participating players in artificial lift system market are:

•    Baker Hughes

•    Dover Artificial Lift

•    Flotek Industries, Inc.

•    Halliburton Company

•    Kudu Industries

•    Schlumberger Ltd.

•    Weatherford International

Artificial Lift System Market Segmentation

The artificial lift system market is segmented on the basis of actuation mode, component, and region.

By Actuation Mode

•    Pump Assisted Artificial Lift System

o    Rod Pump

o    Hydraulic Piston System

o    Electrical Submersible Pump (ESP)

o    Progressive Cavity Pump

•    Gas Assisted Artificial Lift System

o    Gas Lift

o    Plunger Lift

By Component

•    Pump

•    Motor

•    Cable System

•    Drive Head

•    Separator

•    Pump Jack

•    Sucker Rod

•    Gas-lift Valves

•    Gas-lift Mandrels

•    Controller

•    Others

By Region

•    North America

•    Latin America

•    Europe

•    Asia Pacific

•    Middle East

•    Africa

MMC Overview on Artificial Lift System Market Report

The non-identical approach of Meridian Market Consultants stands with conceptual methods backed up with the data analysis. The novel market understanding approach makes up the standard of the assessment results that give better opportunity for the customers to put their effort.

A research report on the Artificial Lift System market by Meridian Market Consultants is an in-depth and extensive study of the market based on the necessary data crunching and statistical analysis. It provides a brief view of the dynamics flowing through the market, which includes the factors that supports market and the factors that are acting as impedance for the growth of the market.

Furthermore, the report includes the various trends and opportunities in the respective market in different regions for a better understanding of readers that helps to analyze the potential of the market.

Factors that are benchmarked while estimating the market

Various factors that are benchmarked while estimating the market growth includes (but not restricted to):

•    New product designs and launches

•    Current product compliance

•    Reimbursement

•    Concerns for use of Artificial Lift System

•    Advantage of Artificial Lift System over other systems

Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to take informed decision.

A mix of top-down and bottom-up approach is followed to arrive and validate our market value estimations. For a product segment like wherein one/two manufacturer(s) dominates the market, it’s products sales, previous growth rates and market expansion plans are considered to generate market share in the global market.

1.    Global Artificial Lift System Market Report Overview

1.1.    Introduction

1.2.    Report Description

1.3.    Methodology

2.    Global Artificial Lift System Market Overview

2.1.    Introduction

2.1.1.    Market Definition

2.1.2.    Market Taxonomy

2.2.    Executive Summary

2.3.    Global Artificial Lift System Market Snapshot

2.4.    Global Artificial Lift System Market Size and Forecast, 2020–2028

2.4.1.    Introduction

2.4.2.    Market Value Forecast and Annual Growth Rate (AGR) Comparison (2020–2028)

2.5.    Global Artificial Lift System Market Dynamics

2.5.1.    Drivers

2.5.2.    Restraints

2.5.3.    Opportunity

2.5.4.    Trends

2.6.    Key Regulations

2.7.    Porter’s Five Forces Model

3.    Global Artificial Lift System Market, By Actuation Mode

3.1.    Introduction

3.1.1.    Annual Growth Rate Comparison, By Actuation Mode

3.1.2.    BPS Analysis, By Actuation Mode

3.2.    Market Revenue (US$Mn) Forecast, By Actuation Mode

3.2.1.    Pump Assisted Artificial Lift System

3.2.1.1.    Rod Pump

3.2.1.2.    Hydraulic Piston System

3.2.1.3.    Electrical Submersible Pump (ESP)

3.2.1.4.    Progressive Cavity Pump

3.2.2.    Gas Assisted Artificial Lift System

3.2.2.1.    Gas Lift

3.2.2.2.    Plunger Lift

3.3.    Global Artificial Lift System Market Attractiveness Index, By Actuation Mode

4.    Global Artificial Lift System Market, By Component

4.1.    Introduction

4.1.1.    Annual Growth Rate Comparison, By Component

4.1.2.    BPS Analysis, By Component

4.2.    Market Revenue (US$Mn) Forecast, By Component

4.2.1.    Pump

4.2.2.    Motor

4.2.3.    Cable System

4.2.4.    Drive Head

4.2.5.    Separator

4.2.6.    Pump Jack

4.2.7.    Sucker Rod

4.2.8.    Gas-lift Valves

4.2.9.    Gas-lift Mandrels

4.2.10.    Controller

4.2.11.    Others

4.3.    Global Artificial Lift System Market Attractiveness Index, By Component

5.    Global Artificial Lift System Market, By Region

5.1.    Introduction

5.1.1.    Annual Growth Rate Comparison, By Region

5.1.2.    BPS Analysis, By Region

5.2.    Market Revenue (US$Mn) Forecast, By Region

5.2.1.    North America

5.2.2.    Latin America

5.2.3.    Europe

5.2.4.    Asia Pacific

5.2.5.    Middle East

5.2.6.    Africa

5.3.    Global Artificial Lift System Market Attractiveness Index, By Region

6.    North America Artificial Lift System Market Analysis and Forecast, 2020–2028

6.1.    Introduction

6.1.1.    Annual Growth Rate Comparison, By Country

6.1.2.    BPS Analysis, By Country

6.2.    Market Revenue (US$Mn) Forecast, By Country

6.2.1.    U.S. Artificial Lift System Market

6.2.2.    Canada Artificial Lift System Market

6.3.    North America Artificial Lift System Market, By Actuation Mode

6.3.1.    Pump Assisted Artificial Lift System

6.3.1.1.    Rod Pump

6.3.1.2.    Hydraulic Piston System

6.3.1.3.    Electrical Submersible Pump (ESP)

6.3.1.4.    Progressive Cavity Pump

6.3.2.    Gas Assisted Artificial Lift System

6.3.2.1.    Gas Lift

6.3.2.2.    Plunger Lift

6.4.    North America Artificial Lift System Market, By Component

6.4.1.    Pump

6.4.2.    Motor

6.4.3.    Cable System

6.4.4.    Drive Head

6.4.5.    Separator

6.4.6.    Pump Jack

6.4.7.    Sucker Rod

6.4.8.    Gas-lift Valves

6.4.9.    Gas-lift Mandrels

6.4.10.    Controller

6.4.11.    Others

6.5.    North America Artificial Lift System Market Attractiveness Index

6.5.1.    By Country

6.5.2.    By Actuation Mode

6.5.3.    By Component

7.    Latin America Artificial Lift System Market Analysis and Forecast, 2020–2028

7.1.    Introduction

7.1.1.    Annual Growth Rate Comparison, By Country

7.1.2.    BPS Analysis, By Country

7.2.    Market (US$Mn) Forecast, By Country

7.2.1.    Brazil Artificial Lift System Market

7.2.2.    Mexico Artificial Lift System Market

7.2.3.    Argentina Artificial Lift System Market

7.2.4.    Rest of Latin America Artificial Lift System Market

7.3.    Latin America Artificial Lift System Market, By Actuation Mode

7.3.1.    Pump Assisted Artificial Lift System

7.3.1.1.    Rod Pump

7.3.1.2.    Hydraulic Piston System

7.3.1.3.    Electrical Submersible Pump (ESP)

7.3.1.4.    Progressive Cavity Pump

7.3.2.    Gas Assisted Artificial Lift System

7.3.2.1.    Gas Lift

7.3.2.2.    Plunger Lift

7.4.    Latin America Artificial Lift System Market, By Component

7.4.1.    Pump

7.4.2.    Motor

7.4.3.    Cable System

7.4.4.    Drive Head

7.4.5.    Separator

7.4.6.    Pump Jack

7.4.7.    Sucker Rod

7.4.8.    Gas-lift Valves

7.4.9.    Gas-lift Mandrels

7.4.10.    Controller

7.4.11.    Others

7.5.    Latin America Artificial Lift System Market Attractiveness Index

7.5.1.    By Country

7.5.2.    By Actuation Mode

7.5.3.    By Component

8.    Europe Artificial Lift System Market Analysis and Forecast, 2020–2028

8.1.    Introduction

8.1.1.    Annual Growth Rate Comparison, By Country

8.1.2.    BPS Analysis, By Country

8.2.    Market (US$Mn) Forecast, By Country

8.2.1.    U.K. Artificial Lift System Market

8.2.2.    Germany Artificial Lift System Market

8.2.3.    Italy Artificial Lift System Market

8.2.4.    France Artificial Lift System Market

8.2.5.    Spain Artificial Lift System Market

8.2.6.    Russia Artificial Lift System Market

8.2.7.    Poland Artificial Lift System Market

8.2.8.    BENELUX Artificial Lift System Market

8.2.9.    NORDIC Artificial Lift System Market

8.2.10.    Rest of Europe Artificial Lift System Market

8.3.    Europe Artificial Lift System Market, By Actuation Mode

8.3.1.    Pump Assisted Artificial Lift System

8.3.1.1.    Rod Pump

8.3.1.2.    Hydraulic Piston System

8.3.1.3.    Electrical Submersible Pump (ESP)

8.3.1.4.    Progressive Cavity Pump

8.3.2.    Gas Assisted Artificial Lift System

8.3.2.1.    Gas Lift

8.3.2.2.    Plunger Lift

8.4.    Europe Artificial Lift System Market, By Component

8.4.1.    Pump

8.4.2.    Motor

8.4.3.    Cable System

8.4.4.    Drive Head

8.4.5.    Separator

8.4.6.    Pump Jack

8.4.7.    Sucker Rod

8.4.8.    Gas-lift Valves

8.4.9.    Gas-lift Mandrels

8.4.10.    Controller

8.4.11.    Others

8.5.    Europe Artificial Lift System Market Attractiveness Index

8.5.1.    By Country

8.5.2.    By Actuation Mode

8.5.3.    By Component

9.    Asia Pacific Artificial Lift System Market Analysis and Forecast, 2020–2028

9.1.    Introduction

9.1.1.    Annual Growth Rate Comparison, By Country

9.1.2.    BPS Analysis, By Country

9.2.    Market (US$Mn) Forecast, By Country

9.2.1.    China Artificial Lift System Market

9.2.2.    India Artificial Lift System Market

9.2.3.    Japan Artificial Lift System Market

9.2.4.    Australia and New Zealand Artificial Lift System Market

9.2.5.    South Korea Artificial Lift System Market

9.2.6.    ASEAN Artificial Lift System Market

9.2.7.    Rest of Asia Pacific Artificial Lift System Market

9.3.    Asia Pacific Artificial Lift System Market, By Actuation Mode

9.3.1.    Pump Assisted Artificial Lift System

9.3.1.1.    Rod Pump

9.3.1.2.    Hydraulic Piston System

9.3.1.3.    Electrical Submersible Pump (ESP)

9.3.1.4.    Progressive Cavity Pump

9.3.2.    Gas Assisted Artificial Lift System

9.3.2.1.    Gas Lift

9.3.2.2.    Plunger Lift

9.4.    Asia Pacific Artificial Lift System Market, By Component

9.4.1.    Pump

9.4.2.    Motor

9.4.3.    Cable System

9.4.4.    Drive Head

9.4.5.    Separator

9.4.6.    Pump Jack

9.4.7.    Sucker Rod

9.4.8.    Gas-lift Valves

9.4.9.    Gas-lift Mandrels

9.4.10.    Controller

9.4.11.    Others

9.5.    Asia Pacific Artificial Lift System Market Attractiveness Index

9.5.1.    By Country

9.5.2.    By Actuation Mode

9.5.3.    By Component

10.    Middle East Artificial Lift System Market Analysis and Forecast, 2020–2028

10.1.    Introduction

10.1.1.    Annual Growth Rate Comparison, By Country

10.1.2.    BPS Analysis, By Country

10.2.    Market (US$Mn) Forecast, By Country

10.2.1.    GCC Countries Artificial Lift System Market

10.2.2.    Israel Artificial Lift System Market

10.2.3.    Oman Artificial Lift System Market

10.2.4.    Rest of Middle East Artificial Lift System Market

10.3.    Middle East Artificial Lift System Market, By Actuation Mode

10.3.1.    Pump Assisted Artificial Lift System

10.3.1.1.    Rod Pump

10.3.1.2.    Hydraulic Piston System

10.3.1.3.    Electrical Submersible Pump (ESP)

10.3.1.4.    Progressive Cavity Pump

10.3.2.    Gas Assisted Artificial Lift System

10.3.2.1.    Gas Lift

10.3.2.2.    Plunger Lift

10.4.    Middle East Artificial Lift System Market, By Component

10.4.1.    Pump

10.4.2.    Motor

10.4.3.    Cable System

10.4.4.    Drive Head

10.4.5.    Separator

10.4.6.    Pump Jack

10.4.7.    Sucker Rod

10.4.8.    Gas-lift Valves

10.4.9.    Gas-lift Mandrels

10.4.10.    Controller

10.4.11.    Others

10.5.    Middle East Artificial Lift System Market Attractiveness Index

10.5.1.    By Country

10.5.2.    By Actuation Mode

10.5.3.    By Component

11.    Africa Artificial Lift System Market Analysis and Forecast, 2020–2028

11.1.    Introduction

11.1.1.    Annual Growth Rate Comparison, By Country

11.1.2.    BPS Analysis, By Country

11.2.    Market (US$Mn) Forecast, By Country

11.2.1.    South Africa Artificial Lift System Market

11.2.2.    Egypt Artificial Lift System Market

11.2.3.    North Africa Artificial Lift System Market

11.2.4.    Rest of Africa Artificial Lift System Market

11.3.    Africa Artificial Lift System Market, By Actuation Mode

11.3.1.    Pump Assisted Artificial Lift System

11.3.1.1.    Rod Pump

11.3.1.2.    Hydraulic Piston System

11.3.1.3.    Electrical Submersible Pump (ESP)

11.3.1.4.    Progressive Cavity Pump

11.3.2.    Gas Assisted Artificial Lift System

11.3.2.1.    Gas Lift

11.3.2.2.    Plunger Lift

11.4.    Africa Artificial Lift System Market, By Component

11.4.1.    Pump

11.4.2.    Motor

11.4.3.    Cable System

11.4.4.    Drive Head

11.4.5.    Separator

11.4.6.    Pump Jack

11.4.7.    Sucker Rod

11.4.8.    Gas-lift Valves

11.4.9.    Gas-lift Mandrels

11.4.10.    Controller

11.4.11.    Others

11.5.    Africa Artificial Lift System Market Attractiveness Index

11.5.1.    By Country

11.5.2.    By Actuation Mode

11.5.3.    By Component

12.    Recommendation

12.1.    Market Strategy

13.    Competitive Landscape

13.1.    Competition Dashboard

13.2.    List and Company Overview of Global Key Players

13.3.    Company Profiles

13.3.1.    Baker Hughes

13.3.1.1.    Company Overview

13.3.1.2.    Financial Overview

13.3.1.3.    Actuation Mode Portfolio

13.3.1.4.    Key Developments

13.3.1.5.    Business Strategies

13.3.2.    Dover Artificial Lift

13.3.3.    Flotek Industries, Inc.

13.3.4.    Halliburton Company

13.3.5.    Kudu Industries

13.3.6.    Schlumberger Ltd.

13.3.7.    Weatherford International

14.    Acronyms