Artificial Lift Market Potential Growth, Share, Demand and
Analysis of Key Players
The global artificial lift market is projected to grow at a CAGR of 4.91% from 2016 to 2021, to
reach a market size of USD 9.69 Billion by 2021. This growth is attributed to increasing oil & gas
production from unconventional resources such as shale gas, heavy oil, and tight oil.
To enable an in-depth understanding of the competitive landscape, the report includes profiles
of some of the top players in the artificial lift market. These players include Schlumberger Limited
(U.S.), Weatherford International plc (Switzerland), Baker Hughes Incorporated (U.S.), General
Electric Company (U.S.), and Halliburton Company (U.S.). Leading players are trying to penetrate
the markets in developing economies and are adopting various strategies to increase their
market share.
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The onshore segment is expected to hold the largest share of the artificial lift market, by
application, during the forecast period
The onshore segment led the artificial lift market in 2015 and is expected to grow at the fastest rate
during the forecast period, owing to the increasing demand for artificial lift systems across the
globe. This segment is primarily driven by rising production from unconventional sources, and is
expected to create new revenue pockets for the artificial lift market during the forecast period.
Pump assisted to be the largest segment in the artificial lift market
With regard to the mechanism segment, pump assisted artificial lift mechanisms are expected to be
the largest market in 2016. The pumps are used to increase bottom hole pressure of the tubing
string in order to lift a sufficient amount of fluid to the surface. The pump assisted mechanism is
categorized into positive displacement and dynamic displacement segments. The dy namic
displacement segment is the fastest growing segment within the pump assisted artificial lift market.
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Objectives of the Study
•
To define, describe, and forecast the global artificial lift market by type, mechanism,
application, and region