Artificial Lift Systems Market

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Artificial Lift Systems Market Segmented by Type (Rod Lift, Electrical Submersible Pumps (ESP), Gas Lift, Progressive Cavity Pumps (PCP)), by Mechanism (Gas Assisted, Pump Assisted), by Application (Onshore and Offshore) Regional analysis- Global Industry Analysis, Forecast, Trends and Market Size.

Pulished: November, 2019

ID: 8955

Pages: 155

Product Description:

Artificial lift refers to the use of artificial means to increase the flow of fluids, such as crude oil or water, from the well of output. This is usually accomplished by using a mechanical device inside the well (known as a pump or a velocity string) or by reducing the weight of the hydrostatic column by injecting gas into the fluid at some distance down the well. A newer method called Continuous Belt Transportation (CBT) uses an oil-absorbing belt to remove from marginal and idle fields.

Artificial lift is required in wells when there is a lack of pressure in the reservoir to lift the generated fluids to the ground but often used in naturally flowing wells (which do not theoretically require it) to raise the flow rate above what would flow naturally. The fluid created can be oil, water or a combination of oil and water, typically combined with a certain amount of gas.

Artificial Lift Systems Market Overview:

Artificial Lift Systems market is expected to reach 12.71 billion USD in by 2024, increasing from 9.67 Billion USD in 2018.

Recent Developments:

In May of 2019, Quick Connector, Inc., a market leader of artificial lift wellhead system provider has introduced a gas lift wellhead solution that allows flexibility to connect capillary lines to the gas lift without the expense or delay of sourcing from the conventional wellhead supplier.

In February of 2019, Tenaris, a global leader of the market, announced that they are looking forward to opening a new manufacturing plant, specifically for manufacturing sucker rods in Conroe, Texas. The development of the plant will be completed by the second quadrant of 2019, with entirely advanced and efficient equipment for more productivity.

Market Growth:

The Artificial Lift Systems market was estimated at USD 9.67 Billion in 2018 and is expected to expand at a CAGR of 5.6% to USD 12.71 Billion by 2024.

Drivers and Restraints of Artificial Lift Systems Market:

Drivers:

In addition to economic developments in different industries such as transport aviation, power generation, etc., growing world oil consumption is likely to contribute to increasing demand for hydrocarbons, which will lead to a corresponding need for artificial lift systems in the coming years.
The technological advancements in the field as a result of substantial R&D investments from key players are expected to improve the efficiency and increase productivity, which is expected to fuel the artificial lift systems market.

Restraints:

Environmental concerns related to oil production and a paradigm shift towards renewable energies can act as a restraint to the market.
Constant product innovations are taking place in the market because of the key players. If one has to play the game of market share, they ought to invest in the R&D more and more, which can be a restraint for new competitors of artificial lift systems market.

Market Segmentation:

By Type:

Based on the Type, Artificial Lift Systems market is segmented into, Rod Lift, Electrical Submersible Pumps (ESP), Gas Lift, Progressive Cavity Pumps (PCP). Of these, in terms of market share, the Electrical Submersible Pumps (ESP) segment dominated the global market and is expected to maintain this trend across the whole forecast periods. The versatility of the ESP is the significant factor that accounted for its market share. It is calculated that the segment accounts for 43% of the total market share. It is the ideal technology for moderate to high production rates, including highly deviated wells, remote and subsea deep-water wells. Due to its lower installation cost and relatively long life, the sucker rod pump is the most popular type of artificial lift systems.

By Application:

Based on the Application, Artificial Lift Systems market is segmented into Onshore and Offshore. Of these, the offshore segment provides lucrative opportunities for industry players and is expected to show higher growth compared to the other sections. North America, Europe, MEA, and APAC have large-scale onshore exploration activities that contribute a large part to the growth of artificial lifts. In the coming years, offshore exploration activities are projected to see massive growth due to the vast potential of oil and gas reserves.

Artificial Lift Systems Region wise analysis:

Based in region, Artificial Lift Systems can be segmented into:

North America
1. U.S
2. Canada
Europe
1. Norway
2. Germany
3. Sweden
Asia Pacific
1. China
2. India
3. Japan
Latin America and Middle East Africa
1. Brazil
2. Saudi Arabia

North America is the largest revenue-generating market estimated at US$ 4.5 billion in 2018. By 2024, the area is expected to reach a market value of US$ 6.7 billion, rising at a CAGR of 7.3 per cent. The wider use of the artificial lift system is due to low-pressure oil wells in the area. Nevertheless, Asia-Pacific would be the fastest growing market with an expected revenue of US$ 3.1 million by 2024, rising at 9.4 per cent CAGR during the forecast period. This rapid growth in the LAMEA area is possibly due to the rapid maturation of oil fields due to years of production.

Key Players of Market:

Some of the key players of the Global Artificial Lift Systems market include, Tenaris, Quick Connecter, Dover Artificial Lift, Baker Hughes, Halliburton Company, Kudu Industries, Flotek Industries, Inc., Weatherford International, Schlumberger Ltd, among others.

RESEARCH METHODOLOGY:

The research of Artificial Lift systems market takes place in two phases namely-

Secondary Research The first phase of the research process is an extensive secondary research and identification of the related intelligence. Secondary data is compiled from various sources. An extensive secondary research helps in generating hypothesis and identifying critical areas of interest that are investigated through primary research.

Primary Research This entails conducting hundreds of primary interviews with industry participants and commentators in order to validate the data points obtained from secondary research and to fill the data gaps. A primary interview provides first-hand information on the market size, market trends, growth trends, competitive landscape, future outlook etc. It also helps in deciding the scope and deliverables of the study in terms of the requirement of the market. Primary research involves E-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment and sub-segment across geographies.

Global Artificial Lift Systems Market Research Report Key Highlights:

Evaluation of the current stage of market and future implications of the market based on the detailed observation of Recent key developments.
Address the matter by better understanding the market size estimates through CAGR analysis to forecast the future market.
Comprehensive segmentations of the market, detailed evaluation of the market by further sub-segments.
Address Market Drivers, Restraints and providing insights for gaining market share.
Porter’s Five Forces are used to analyze the factors responsible for the shaping of the industry as it is as a result of competitive environment.

1. Introduction

1.1 Market Definition

1.2 Study Deliverables

1.3 Base Currency, Base Year and Forecast Periods

1.4 General Study Assumptions

2. Research Methodology

2.1 Introduction

2.2 Research Phases

2.2.1 Secondary Research

2.2.2 Primary Research

2.2.3 Econometric Modelling

2.2.4 Expert Validation

2.3 Analysis Design

2.4 Study Timeline

3. Overview

3.1 Executive Summary

3.2 Key Inferences

3.3 Epidemology

4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)

4.1 Market Drivers

4.2 Market Restraints

4.3 Key Challenges

4.4 Current Opportunities in the Market

5. Market Segmentation

5.1 By Type

5.1.1 Introduction

5.1.2 Rod Lift

5.1.3 Electrical Submersible Pumps ESP

5.1.4 Gas Lift

5.1.5 Progressive Cavity Pumps (PCP)

5.1.6 Others

5.1.7 Y-o-Y Growth Analysis

5.1.8 Market Attractiveness Analysis

5.1.9 Market Share Analysis

5.2 By Mechanism

5.2.1 Introduction

5.2.2 Gas Assisted

5.2.3 Pump Assisted

5.2.4 Y-o-Y Growth Analysis

5.2.5 Market Attractiveness Analysis

5.2.6 Market Share Analysis

5.3 By Application

5.3.1 Introduction

5.3.2 On Shore

5.3.3 Off Shore

5.3.4 Y-o-Y Growth Analysis

5.3.5 Market Attractiveness Analysis

5.3.6 Market Share Analysis

6. Geographical Analysis

6.1 Introduction

6.1.1 Regional Trends

6.1.2 Impact Analysis

6.1.3 Y-o-Y Growth Analysis

6.1.3.1 By Geographical Area

6.1.3.2 By Type

6.1.3.3 By Mechanism

6.1.3.4 Application

6.1.4 Market Attractiveness Analysis

6.1.4.1 By Geographical Area

6.1.4.2 By Type

6.1.4.3 By Mechanism

6.1.4.4 Application

6.1.5 Market Share Analysis

6.1.5.1 By Geographical Area

6.1.5.2 By Type

6.1.5.3 By Mechanism

6.1.5.4 Application

6.2 North America

6.1.1 Introduction

6.1.2 United States

6.1.3 Canada

6.3 Europe

6.2.1 Introduction

6.2.2 U.K

6.2.3 Spain

6.2.4 Germany

6.2.5 Italy

6.2.6 France

6.4 Asia-Pacific

6.3.1 Introduction

6.3.2 China

6.3.3 India

6.3.4 Japan

6.3.5 Australia

6.3.6 South Korea

6.5 Latin America

6.4.1 Introduction

6.4.2 Brazil

6.4.3 Argentina

6.4.4 Mexico

6.4.5 Rest of Latin America

6.6 Middle East & Africa

6.5.1 Introduction

6.5.2 Middle-East

6.5.3 Africa

7. Strategic Analysis

7.1 PESTLE analysis

7.1.1 Political

7.1.2 Economic

7.1.3 Social

7.1.4 Technological

7.1.5 Legal

7.1.6 Environmental

7.2 Porter’s Five analysis

7.2.1 Bargaining Power of Suppliers

7.2.2 Bargaining Power of Consumers

7.2.3 Threat of New Entrants

7.2.4 Threat of Substitute Products and Services

7.2.5 Competitive Rivalry within the Industry

8. Market Leader Analysis

8.1 Tenaris

8.1.1 Overview

8.1.2 Product Analysis

8.1.3 Financial analysis

8.1.4 Recent Developments

8.1.5 SWOT analysis

8.1.6 Analyst View

8.2 Quick Connecter

8.3 Dover Artificial Lift

8.4 Baker Hughes

8.5 Halliburton Company

8.6 Kudu Industries

8.7 Flotek Industries, Inc.,

8.8 Weatherford International

8.9 Schlumberger Ltd

9. Competitive Landscape

9.1 Market share analysis

9.2 Merger and Acquisition Analysis

9.3 Agreements, collaborations and Joint Ventures

9.4 New Product Launches

10. Market Outlook and Investment Opportunities

Appendix

a) List of Tables

b) List of Figures

Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
Segment-level analysis in terms of By Product, and along with market size forecasts and estimations to detect key areas of industry growth in detail
Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market