NEW YORK, Feb. 18, 2016 /PRNewswire/ -- Strategic Analysis of the Global Artificial Lifts Market : Aging Conventional Wells and Faster Production Decline from Unconventional Fields are Major Drivers
This research service provides a strategic analysis of the global artificial lifts market, segmented by technology including rod lifts, gas lifts, electric submersible pumps, progressive pump cavity lifts, plunger lifts, and hydraulic pumping systems. It provides forecasts, and discusses the market drivers and restraints for each segment. It also covers technological advancements and selection criteria for various artificial lifts and includes a competitive analysis of market participants. The study also covers an in-depth regional analysis with potential growth opportunities for North America, Latin America, Europe, the Middle East and Africa, and Asia-Pacific. The base year is 2014, with the forecast period running from 2015 to 2021.
-The demand for artificial lifts is expected to experience positive growth, from both conventional and unconventional wells. Although conventional wells would require them at a later stage, unconventional wells utilize artificial lifts at an early stage due to their faster depletion rate.
- Global demand is expected to grow by % annually for oil and by % for natural gas. This is expected to attract strong investments globally in drilling and completions.
- Due to the decline in crude oil prices, there is a % decline in capital expenditure (capex). This is likely to have a marginal impact on the artificial lifts market, as companies try to optimize their production by implementing artificial lifts.
- A growth of % is expected in new wells drilled globally between 2013 and 2020, to drive a % rise in global oil and gas production.
- The artificial lifts market is expected to grow exponentially after witnessing a slight decline between 2014 and 2015, to reach a revenue of $ Billion by 2021.
- North America is expected to continue to hold % market share in the global artificial lifts market, mainly driven by early decline of production from horizontal wells and unconventional resources.
- What is the current state of the industry? What are the factors responsible for driving this market?
- Is the market growing, how long will it continue to grow, and at what rate?
- How is the supplier landscape for the market? Are the competitors structured well? Is the market fragmented or consolidated?
- How will the structure of the market change with time? Is the market ripe for acquisitions?
- Are the products/services offered meeting customer needs or is additional development needed?
- How is the technological landscape of artificial lifts? What are some of the innovations?
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