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PUBLISHER: IMARC | PRODUCT CODE: 1347611
PUBLISHER: IMARC | PRODUCT CODE: 1347611
Artificial Lift System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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PAGES: 144 Pages
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Market Overview:
The global artificial lift system market size reached US$ 22.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 30.5 Billion by 2028, exhibiting a growth rate (CAGR) of 5.4% during 2023-2028.
An artificial lift system refers to a mechanical lifting method used to lower the producing bottomhole pressure (BHP) on the development to increase the production rate from the well. Hydraulic lift, progressive cavity pump (PCP), rod lift, electric submersible pump (ESP), plunger lift, and gas lift are some of the common types of artificial lift systems. Consisting of a motor, pump, impellers, blades, controller, and a cable system, an artificial lift system is widely used to generate a higher rate current from a well that is not strong enough to push oil to the surface. Apart from this, these systems are efficient, simple, wireless retrievable, offer a high degree of flexibility, and can handle unfavorable climatic conditions.
Artificial Lift System Market Trends:
Significant growth in the oil and gas industry across the globe is creating a positive outlook for the market. In line with this, artificial lift systems are widely used during oil production and exploration activities to increase the pressure within the reservoir and encourage oil to the surface at higher efficiency. Apart from this, various advancements in technologies, such as the integration of artificial intelligence (AI) and the Internet of Things (IoT) to optimize hydrocarbon withdrawal and prevent the incidence of destructive events, are providing a considerable boost to the market growth. Additionally, the increasing demand for ESPs due to their versatile nature and the ability to handle a high volume and a wide range of flow rates while operating efficiently in harsh environmental conditions is augmenting the market growth. Other factors, including the rapid establishment of new exploration fields and the increasing number of onshore and offshore production and exploration activities, are anticipated to drive the market toward growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global artificial lift system market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on lift type, well type, mechanism and application.
Breakup by Lift Type:
Electric Submersible Pumps (ESP)
Progressing Cavity Pumps (PCP)
Gas Lift
Rod Lift
Hydraulic Pumps
Others
Breakup by Well Type:
Horizontal
Vertical
Breakup by Mechanism:
Gas Assisted
Pump Assisted
Breakup by Application:
Offshore
Onshore
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Baker Hughes Company, Borets International Ltd., Canadian Advanced ESP Inc., ChampionX, Dover Corporation, General Electric Company, Halliburton Company, JJ Tech, NOV Inc., Schlumberger Limited, Tenaris S.A. (Techint) and Weatherford International plc.
Key Questions Answered in This Report:
- How has the global artificial lift system market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global artificial lift system market?
- What are the key regional markets?
- What is the breakup of the market based on the lift type?
- What is the breakup of the market based on the well type?
- What is the breakup of the market based on the mechanism?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global artificial lift system market and who are the key players?
- What is the degree of competition in the industry?
Product Code: SR112023A5771
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Artificial Lift System Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Lift Type
- 6.1 Electric Submersible Pumps (ESP)
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Progressing Cavity Pumps (PCP)
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Gas Lift
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Rod Lift
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
- 6.5 Hydraulic Pumps
- 6.5.1 Market Trends
- 6.5.2 Market Forecast
- 6.6 Others
- 6.6.1 Market Trends
- 6.6.2 Market Forecast
7 Market Breakup by Well Type
- 7.1 Horizontal
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Vertical
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
8 Market Breakup by Mechanism
- 8.1 Gas Assisted
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Pump Assisted
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
9 Market Breakup by Application
- 9.1 Offshore
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Onshore
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
10 Market Breakup by Region
- 10.1 North America
- 10.1.1 United States
- 10.1.1.1 Market Trends
- 10.1.1.2 Market Forecast
- 10.1.2 Canada
- 10.1.2.1 Market Trends
- 10.1.2.2 Market Forecast
- 10.1.1 United States
- 10.2 Asia-Pacific
- 10.2.1 China
- 10.2.1.1 Market Trends
- 10.2.1.2 Market Forecast
- 10.2.2 Japan
- 10.2.2.1 Market Trends
- 10.2.2.2 Market Forecast
- 10.2.3 India
- 10.2.3.1 Market Trends
- 10.2.3.2 Market Forecast
- 10.2.4 South Korea
- 10.2.4.1 Market Trends
- 10.2.4.2 Market Forecast
- 10.2.5 Australia
- 10.2.5.1 Market Trends
- 10.2.5.2 Market Forecast
- 10.2.6 Indonesia
- 10.2.6.1 Market Trends
- 10.2.6.2 Market Forecast
- 10.2.7 Others
- 10.2.7.1 Market Trends
- 10.2.7.2 Market Forecast
- 10.2.1 China
- 10.3 Europe
- 10.3.1 Germany
- 10.3.1.1 Market Trends
- 10.3.1.2 Market Forecast
- 10.3.2 France
- 10.3.2.1 Market Trends
- 10.3.2.2 Market Forecast
- 10.3.3 United Kingdom
- 10.3.3.1 Market Trends
- 10.3.3.2 Market Forecast
- 10.3.4 Italy
- 10.3.4.1 Market Trends
- 10.3.4.2 Market Forecast
- 10.3.5 Spain
- 10.3.5.1 Market Trends
- 10.3.5.2 Market Forecast
- 10.3.6 Russia
- 10.3.6.1 Market Trends
- 10.3.6.2 Market Forecast
- 10.3.7 Others
- 10.3.7.1 Market Trends
- 10.3.7.2 Market Forecast
- 10.3.1 Germany
- 10.4 Latin America
- 10.4.1 Brazil
- 10.4.1.1 Market Trends
- 10.4.1.2 Market Forecast
- 10.4.2 Mexico
- 10.4.2.1 Market Trends
- 10.4.2.2 Market Forecast
- 10.4.3 Others
- 10.4.3.1 Market Trends
- 10.4.3.2 Market Forecast
- 10.4.1 Brazil
- 10.5 Middle East and Africa
- 10.5.1 Market Trends
- 10.5.2 Market Breakup by Country
- 10.5.3 Market Forecast
11 SWOT Analysis
- 11.1 Overview
- 11.2 Strengths
- 11.3 Weaknesses
- 11.4 Opportunities
- 11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
- 13.1 Overview
- 13.2 Bargaining Power of Buyers
- 13.3 Bargaining Power of Suppliers
- 13.4 Degree of Competition
- 13.5 Threat of New Entrants
- 13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
- 15.1 Market Structure
- 15.2 Key Players
- 15.3 Profiles of Key Players
- 15.3.1 Baker Hughes Company
- 15.3.1.1 Company Overview
- 15.3.1.2 Product Portfolio
- 15.3.1.3 Financials
- 15.3.1.4 SWOT Analysis
- 15.3.2 Borets International Ltd.
- 15.3.2.1 Company Overview
- 15.3.2.2 Product Portfolio
- 15.3.3 Canadian Advanced ESP Inc.
- 15.3.3.1 Company Overview
- 15.3.3.2 Product Portfolio
- 15.3.4 ChampionX
- 15.3.4.1 Company Overview
- 15.3.4.2 Product Portfolio
- 15.3.4.3 Financials
- 15.3.5 Dover Corporation
- 15.3.5.1 Company Overview
- 15.3.5.2 Product Portfolio
- 15.3.5.3 Financials
- 15.3.5.4 SWOT Analysis
- 15.3.6 General Electric Company
- 15.3.6.1 Company Overview
- 15.3.6.2 Product Portfolio
- 15.3.6.3 Financials
- 15.3.6.4 SWOT Analysis
- 15.3.7 Halliburton Company
- 15.3.7.1 Company Overview
- 15.3.7.2 Product Portfolio
- 15.3.7.3 Financials
- 15.3.7.4 SWOT Analysis
- 15.3.8 JJ Tech
- 15.3.8.1 Company Overview
- 15.3.8.2 Product Portfolio
- 15.3.9 NOV Inc.
- 15.3.9.1 Company Overview
- 15.3.9.2 Product Portfolio
- 15.3.9.3 Financials
- 15.3.9.4 SWOT Analysis
- 15.3.10 Schlumberger Limited
- 15.3.10.1 Company Overview
- 15.3.10.2 Product Portfolio
- 15.3.10.3 Financials
- 15.3.10.4 SWOT Analysis
- 15.3.11 Tenaris S.A. (Techint)
- 15.3.11.1 Company Overview
- 15.3.11.2 Product Portfolio
- 15.3.11.3 Financials
- 15.3.12 Weatherford International plc
- 15.3.12.1 Company Overview
- 15.3.12.2 Product Portfolio
- 15.3.1 Baker Hughes Company
Product Code: SR112023A5771
List of Figures
- Figure 1: Global: Artificial Lift System Market: Major Drivers and Challenges
- Figure 2: Global: Artificial Lift System Market: Sales Value (in Billion US$), 2017-2022
- Figure 3: Global: Artificial Lift System Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 4: Global: Artificial Lift System Market: Breakup by Lift Type (in %), 2022
- Figure 5: Global: Artificial Lift System Market: Breakup by Well Type (in %), 2022
- Figure 6: Global: Artificial Lift System Market: Breakup by Mechanism (in %), 2022
- Figure 7: Global: Artificial Lift System Market: Breakup by Application (in %), 2022
- Figure 8: Global: Artificial Lift System Market: Breakup by Region (in %), 2022
- Figure 9: Global: Artificial Lift System (Electric Submersible Pumps-ESP) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 10: Global: Artificial Lift System (Electric Submersible Pumps-ESP) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 11: Global: Artificial Lift System (Progressing Cavity Pumps-PCP) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 12: Global: Artificial Lift System (Progressing Cavity Pumps-PCP) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 13: Global: Artificial Lift System (Gas Lift) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 14: Global: Artificial Lift System (Gas Lift) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 15: Global: Artificial Lift System (Rod Lift) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 16: Global: Artificial Lift System (Rod Lift) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 17: Global: Artificial Lift System (Hydraulic Pumps) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 18: Global: Artificial Lift System (Hydraulic Pumps) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 19: Global: Artificial Lift System (Other Lift Types) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 20: Global: Artificial Lift System (Other Lift Types) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 21: Global: Artificial Lift System (Horizontal) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 22: Global: Artificial Lift System (Horizontal) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 23: Global: Artificial Lift System (Vertical) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 24: Global: Artificial Lift System (Vertical) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 25: Global: Artificial Lift System (Gas Assisted) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 26: Global: Artificial Lift System (Gas Assisted) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 27: Global: Artificial Lift System (Pump Assisted) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 28: Global: Artificial Lift System (Pump Assisted) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 29: Global: Artificial Lift System (Offshore) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 30: Global: Artificial Lift System (Offshore) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 31: Global: Artificial Lift System (Onshore) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 32: Global: Artificial Lift System (Onshore) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 33: North America: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 34: North America: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 35: United States: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 36: United States: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 37: Canada: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 38: Canada: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 39: Asia-Pacific: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 40: Asia-Pacific: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 41: China: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 42: China: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 43: Japan: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 44: Japan: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 45: India: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 46: India: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 47: South Korea: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 48: South Korea: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 49: Australia: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 50: Australia: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 51: Indonesia: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 52: Indonesia: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 53: Others: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 54: Others: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 55: Europe: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 56: Europe: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 57: Germany: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 58: Germany: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 59: France: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 60: France: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 61: United Kingdom: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 62: United Kingdom: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 63: Italy: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 64: Italy: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 65: Spain: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 66: Spain: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 67: Russia: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 68: Russia: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 69: Others: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 70: Others: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 71: Latin America: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 72: Latin America: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 73: Brazil: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 74: Brazil: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 75: Mexico: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 76: Mexico: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 77: Others: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 78: Others: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 79: Middle East and Africa: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
- Figure 80: Middle East and Africa: Artificial Lift System Market: Breakup by Country (in %), 2022
- Figure 81: Middle East and Africa: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 82: Global: Artificial Lift System Industry: SWOT Analysis
- Figure 83: Global: Artificial Lift System Industry: Value Chain Analysis
- Figure 84: Global: Artificial Lift System Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Artificial Lift System Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: Artificial Lift System Market Forecast: Breakup by Lift Type (in Million US$), 2023-2028
- Table 3: Global: Artificial Lift System Market Forecast: Breakup by Well Type (in Million US$), 2023-2028
- Table 4: Global: Artificial Lift System Market Forecast: Breakup by Mechanism (in Million US$), 2023-2028
- Table 5: Global: Artificial Lift System Market Forecast: Breakup by Application (in Million US$), 2023-2028
- Table 6: Global: Artificial Lift System Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 7: Global: Artificial Lift System Market: Competitive Structure
- Table 8: Global: Artificial Lift System Market: Key Players
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