Pune, India, May, 2018/MRFR Press Release/- Market Research Future published a cooked research report on “Global Artificial Lift Market ” – Market Analysis, Scope, Stake, Progress, Trends and Forecast up to 2027.
Market Highlights: –
The Global Artificial Lift Market is expected to grow at a CAGR of 7-8% during the forecast period from 2018 to 2027. The global artificial lift market is expected to experience an upward trend following of increasing focus on production optimization in the industry, states the MRFR Research Analyst while commenting upon the deep diving study report published by Market Research Future, presented through more than 100 market data tables and figures spread over 115 pages.
The global artificial lift market is facing an upward trend due to decline in oil reservoirs, increase in shale oil and gas production and increase in deep water and ultra-deep activities. However, strict government and regulations and environmental problems associated oil and gas production are inhibiting the growth of the artificial lift market.
Key Players: –
Some of the key players for this market are: Baker Hughes, Borets, Cameron International, Dover Corporation, GE Oil & Gas, Halliburton, John Crane, National Oilwell Varco, Schlumberger, and Weatherford.
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Global Artificial Lift Market – Segments
The market for Artificial Lift has been segmented on the basis of type of equipment employed for the function. The segmentation involves rod lift, electric submersible pump (ESP), progressive cavity pumps (PCP), gas lift, and others. Other types used include plunger lift, and hydraulic jet pumps which have a small contribution within the artificial lift market
Global Artificial Lift Market – Intended Audience
Report is advantageous mainly to the following Entities:
- Submersible Pump manufacturing companies
- Oil & gas service providers
- Oil & gas industry Consultants and Investment bankers
- Government as well as Independent Regulatory Authorities
Asia-Pacific market is expected to exhibit a comparatively high growth than Europe. Increasing focus towards development of shale gas projects in countries such as China, and Indonesia is expected to be a major factor driving the Asia-pacific market.
North America has been dominating the Global Artificial Lift Market with the largest market share since past few years. It is expected to retain its dominance in the market with a high growth rate. Presence of large shale oil & gas reserves, as well as tight oil reserves is expected to aid the North American market for artificial lift.
The European region held the second largest share within the artificial lift market and is expected to grow at a moderate rate during the forecast period, between 2016 and 2022.
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