This report provides exclusive insights into the COVID-19 impact on the Artificial Lift System Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Artificial Lift System Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Artificial Lift System Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.
report published by Infinium Global Research on the artificial lift system market
provides an in-depth analysis of segments and sub-segments in the global as well
as regional artificial lift system market. The study also highlights the impact
of drivers, restraints, and macro indicators on the global and regional
artificial lift system market over the short term as well as long term. The
report is a comprehensive presentation of trends, forecast and dollar values of the global artificial lift system market. According to the report, the global
artificial lift system market is projected to grow at a healthy CAGR over the
forecast period of 2019-2025.
lift technologies are involved in further improvements in manufacturing and
design coupled with new software, electronics, sensor technologies, data
transfer, and data management. It is a range of production engineering methods
used to lift hydrocarbons and water from a producing reservoir. Shifting trends
toward unconventional wells coupled with the growing number of mature fields
will drive the market size. Mature wells account for over 70% of the total oil
& gas production across the world. Some wells contain sufficient pressure
for oil to rise to the surface without stimulation. Nearly 96% of the oil wells
in the US require an artificial lift from the very beginning.
increasing demand for energy, improving production efficiencies at mature fields,
and increasing deep, ultra-deep offshore oil production are driving the growth
of the artificial lift system market. It is a relatively simple system and
units can be easily changed to other wells with minimum cost. Furthermore,
rising investments toward technological advancement to improve efficiency
across the complete spectrum of exploration & production technology will
drive the growth of the market. Advances such as real-time monitoring, smart
alarms, and retrofit capability will stimulus market growth. However, the high
cost of artificial lift equipment and strict government policies are hindering
the growth of the market. Lack of skilled workers to handle artificial lift
systems also hampers the growth of the market. Moreover, the rise in subsea
drilling activities and increasing levels of exploration activities are
anticipated to provide plenty of opportunities for market growth in the future.
North America dominates the artificial lift system market due to the existence
of low-pressure oil wells coupled with the continual increase in oil
consumption. The greater adoption of the artificial lift system is owing to
low-pressure oil wells in the North America region. The Saudi Arabia market is
boosting the market growth due to the availability of proven oil reservoirs
along with escalating focus toward mature fields. Huge investments across the
upstream sector along with growing oil & gas production and consumption
will further complement the business landscape in Saudi Arabia.
The report on
global artificial lift system market covers segments such as type, and
component. On the basis of type, the sub-markets include electric submersible
pump system, progressive cavity pump system, rod lift system, hydraulic piston
system, and other types. On the basis of component, the sub-markets include
pump, motor, cable system, drive head, separator, pump jack, sucker rod,
gas-lift valves, gas-lift mandrels, controller, and other components.
provides profiles of the companies in the market such as Ebara Corporation,
Mitsubishi Heavy Industries Compressor Corporation, General Electric Company,
MAN Energy Solutions SE, Atlas Copco Energas GmbH, Solar Turbine Inc.,
Burckhardt Compression Holding AG, Hitachi, Ltd, Ariel Corporation, Neuman
& Esser Group, and other companies.
provides deep insights into the demand forecasts, market trends, and micro and
macro indicators. In addition, this report provides insights into the factors
that are driving and restraining the growth in this market. Moreover, The
IGR-Growth Matrix analysis given in the report brings an insight into the
investment areas that existing or new market players can consider. The report
provides insights into the market using analytical tools such as Porter's five
forces analysis and DRO analysis of the artificial lift system market. Moreover,
the study highlights current market trends and provides forecast from
2019-2025. We also have highlighted future trends in the market that will
affect the demand during the forecast period. Moreover, the competitive
analysis given in each regional market brings an insight into the market share
of the leading players.