Artificial Lift Market Research based on Studies 2017,
Forecast till 2021
The report "Artificial Lift Market by Type (Electrical Submersible Pumps, Rod Lift, Progressive
Cavity Pumps, Gas Lift, and Others), Mechanism (Pump Assisted and Gas Assisted),
Application (Onshore and Offshore), and Region - Global Forecasts to 2021", The artificial lift
market is expected to grow from an estimated USD 7.62 Billion in 2016 to USD 9.69 Billion by
2021, at a CAGR of 4.91%. The global market is set to witness significant growth, due to the
increasing production of heavy oil and shale gas. Increasing shale gas production is due to huge
shale gas reserves in the Americas and the Asia-Pacific.
Browse 68 market data tables and 53 figures spread through 143 pages and in -depth TOC
on “Artificial Lift Market by Type (Electrical Submersible Pumps, Rod Lift, Progressive
Cavity Pumps, Gas Lift, and Others), Mechanism (Pump Assisted and Gas Assisted),
Application (Onshore and Offshore), and Region - Global Forecasts to 2021”
https://www.marketsandmarkets.com/Market-Reports/artificial-lift-systems-market-879.html
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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
dynamic displacement segment is the fastest growing segment within the pump assisted artificial
lift market.