Global Artificial Lift Market (2022 to 2027) - New Oilfield Discoveries and Digitalization & Automation Presents Opportunities

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Oct 21, 2022, 12:45 ET

DUBLIN, Oct. 21, 2022 /PRNewswire/ -- The "Global Artificial Lift Market by Type (ESP, PCP, Rod Lift, Gas Lift), Mechanism (Pump Assisted (Positive Displacement, Dynamic Displacement), Gas Assisted), Well Type (Horizontal, Vertical), Application (Onshore, Offshore) and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The artificial lift market is projected to grow from an estimated USD 6.9 billion in 2022 to USD 8.7 billion by 2027, at a CAGR of 4.8% during the forecast period.

The primary drivers of the market include rising demand for oil across the globe and the increasing need for maximizing the production potential of mature oil & gas fields.

By mechanism, the pump assisted segment is estimated to lead the market from 2022 to 2030

The artificial lift market is segmented by mechanism into pump assisted and gas assisted. The pump assisted segment is not only expected to hold a larger market share but is also projected to witness a higher growth rate during the forecast period.

This high growth rate can be attributed to the higher adoption rate of ESP and PCPs.

By well type, the horizontal segment is projected to register a higher CAGR from 2022 to 2027

By well type, the artificial lift market is segmented into horizontal and vertical wells. Although the vertical segment is estimated to hold a larger market share, the horizontal segment is projected to grow at a higher rate during the forecast period.

This growth can be attributed to large discoveries of shale reserves and increasing hydraulic fracturing in the North American region.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in Artificial Lift Market
4.2 Artificial Lift Market, by Region
4.3 Artificial Lift Market Share, by Type
4.4 Artificial Lift Market Share, by Mechanism
4.5 Artificial Lift Market Share, by Well Type
4.6 Artificial Lift Market Share, by Application
4.7 North America: Artificial Lift Market, by Application and Country

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Advancements in Upstream Activities Concerning Unconventional Oil & Gas Reserves
5.2.1.2 Growing Requirement for Maximizing Production Potential of Mature Fields
5.2.1.3 Increase in Global Oil Demand
5.2.1.4 Rise in Heavy Oil Production
5.2.2 Restraints
5.2.2.1 Decreasing Capex of Oilfield Operators and Upstream Service Providers
5.2.3 Opportunities
5.2.3.1 New Oilfield Discoveries
5.2.3.2 Digitalization and Automation
5.2.4 Challenges
5.2.4.1 Transition Toward Adoption of Renewable Energy Sources
5.2.4.2 Application of Alms in Horizontal Wells
5.3 Trends/Disruptions Impacting Customers' Businesses
5.3.1 Revenue Shift and New Revenue Pockets in Artificial Lift Market
5.4 Supply Chain Analysis
5.4.1 Raw Material Suppliers
5.4.2 Artificial Lift Manufacturers
5.4.3 Artificial Lift Service Providers
5.4.4 Oilfield Operators
5.5 Ecosystem/Market Map
5.6 Key Conferences and Events
5.7 Regulatory Analysis
5.7.1 Regulatory Bodies, Government Agencies, and Other Organizations
5.8 Patent Analysis
5.9 Porter's Five Forces Analysis
5.10 Technology Analysis
5.11 Pricing Analysis
5.12 Key Stakeholders and Buying Criteria
5.13 Case Study Analysis
5.13.1 Novomet's Impactful Perforation Solution in Ecuador

6 Artificial Lift Market, by Type
6.1 Introduction
6.2 Rod Lifts
6.2.1 Rise in Use of Artificial Rod Lifts in Oil & Gas Industry for Oil Drilling
6.3 Electrical Submersible Pumps
6.3.1 Efficient Manufacturing Design and Operational Characteristics to Support Adoption
6.4 Gas Lift Systems
6.4.1 Low Operating Costs to Boost Market Growth
6.5 Progressive Cavity Pumps
6.5.1 Demand for Progressive Cavity Pumps in Shallow Wells Expected to Rise
6.6 Others

7 Artificial Lift Market, by Mechanism
7.1 Introduction
7.2 Pump Assisted
7.2.1 Positive Displacement
7.2.1.1 Increasing Adoption of Rod Lift Pumps and Pcps in North America and Middle East & Africa to Drive Market
7.2.2 Dynamic Displacement
7.2.2.1 Rise in Multistage Drilling Operations to Drive Market
7.3 Gas Assisted
7.3.1 More Vertical Gas Wells Adopting Gas-Assisted Systems

8 Artificial Lift Market, by Well Type
8.1 Introduction
8.2 Horizontal
8.2.1 Esps, Jet Pumps, and Pcps Used in Horizontal Well Drilling
8.3 Vertical
8.3.1 Vertical Well Drilling Considered Conventional Method of Oil & Gas Extraction

9 Artificial Lift Market, by Application
9.1 Introduction
9.2 Onshore
9.2.1 Redevelopment of Mature Onshore Oilfields Along with Growing Shale Activities to Drive Market
9.3 Offshore
9.3.1 Maturing Shallow Oilfields Driving Offshore Artificial Lift Market

10 Artificial Lift Market, by Region

11 Competitive Landscape
11.1 Overview
11.2 Market Share Analysis
11.3 Market Evaluation Framework
11.4 Revenue Analysis of Top Market Players
11.5 Recent Developments
11.5.1 Deals
11.5.2 Product Launches
11.5.3 Other Developments
11.6 Competitive Leadership Mapping
11.6.1 Stars
11.6.2 Emerging Leaders
11.6.3 Pervasive Players
11.6.4 Participants
11.7 Company Footprint Analysis

12 Company Profiles
12.1 Key Companies
12.1.1 Schlumberger Limited
12.1.1.1 Business and Financial Overview
12.1.1.2 Products & Services Offered
12.1.1.3 Recent Developments
12.1.1.4 Analyst's View
12.1.1.4.1 Key Strengths/Right to Win
12.1.1.4.2 Strategic Choices Made
12.1.1.4.3 Weaknesses and Competitive Threats
12.1.2 Weatherford
12.1.2.1 Business and Financial Overview
12.1.2.2 Products & Services Offered
12.1.2.3 Recent Developments
12.1.2.4 Analyst's View
12.1.2.4.1 Key Strengths/Right to Win
12.1.2.4.2 Strategic Choices Made
12.1.2.4.3 Weaknesses and Competitive Threats
12.1.3 Baker Hughes Company
12.1.3.1 Business and Financial Overview
12.1.3.2 Products & Services Offered
12.1.3.3 Recent Developments
12.1.3.4 Analyst's View
12.1.3.4.1 Key Strengths/Right to Win
12.1.3.4.2 Strategic Choices Made
12.1.3.4.3 Weaknesses and Competitive Threats
12.1.4 Halliburton
12.1.4.1 Business and Financial Overview
12.1.4.2 Products & Services Offered
12.1.4.3 Recent Developments
12.1.4.4 Analyst's View
12.1.4.4.1 Key Strengths/Right to Win
12.1.4.4.2 Strategic Choices Made
12.1.4.4.3 Weaknesses and Competitive Threats
12.1.5 Nov Inc.
12.1.5.1 Business and Financial Overview
12.1.5.2 Products & Services Offered
12.1.5.3 Analyst's View
12.1.5.3.1 Key Strengths/Right to Win
12.1.5.3.2 Strategic Choices Made
12.1.5.3.3 Weaknesses and Competitive Threats
12.1.6 Ebara Corporation
12.1.6.1 Business and Financial Overview
12.1.6.2 Products & Services Offered
12.1.6.3 Recent Developments
12.1.7 Tenaris
12.1.7.1 Business and Financial Overview
12.1.7.2 Products & Services Offered
12.1.7.3 Recent Developments
12.1.8 Distributionnow
12.1.8.1 Business and Financial Overview
12.1.8.2 Products & Services Offered
12.1.8.3 Recent Developments
12.1.9 Championx
12.1.9.1 Business and Financial Overview
12.1.9.2 Products & Services Offered
12.1.9.3 Recent Developments
12.1.10 Borets
12.1.10.1 Business Overview
12.1.10.2 Products & Services Offered
12.1.10.3 Recent Developments
12.1.11 Oilserv
12.1.11.1 Business and Financial Overview
12.1.11.2 Products & Services Offered
12.1.12 Novomet
12.1.12.1 Business and Financial Overview
12.1.12.2 Products & Services Offered
12.1.13 Jj Tech
12.1.13.1 Business Overview
12.1.13.2 Products & Services Offered
12.1.14 Camco
12.1.14.1 Business Overview
12.1.14.2 Products & Services Offered
12.1.14.3 Recent Developments
12.1.15 Rimera Group
12.1.15.1 Business Overview
12.1.15.2 Products & Services Offered
12.1.15.3 Recent Developments
12.2 Other Players
12.2.1 Mrc Global Inc.
12.2.2 Alkhorayef Petroleum
12.2.3 Cairn Oil & Gas
12.2.4 AccessESP
12.2.5 Valiant Artificial Lift Solutions