The report discusses the factors impacting this market across the globe. It sheds light on growing deepwater oil production activities that are expected to add to the demand for artificial lift systems market. The report highlights the strengths, weaknesses, opportunities, and threats in the global artificial lift systems market with the help of a SWOT analysis.
In-depth research report on Artificial Lift Systems Market with Full TOC at : http://www.transparencymarketresearch.com/artificial-lift-system-market.html
According to the research report, the global artificial lift systems market was worth US$13.0 bn in 2013 and will be worth US$19.8 bn by 2020, exhibiting a CAGR of 6.20% from 2014 to 2020. This remarkable growth will be attributable to the discovery of shale gas in various parts of the world and positive investor sentiment about this sector.The global artificial lift systems market is segmented on the basis of products and geography. By product type, this market has been divided into electrical submersible pump, progressive cavity pump, rod lift, hydraulic pump, gas lift, and plunger lift. On the basis of geography, the market is segmented into Europe, Asia Pacific, North America, and Rest of the World.
Out of these products, the electrical submersible pumps segment will lead the global artificial lift systems market. This segment dominated the market, accounting for a market share of 42% in 2013. These pumps are primarily used for artificial lift systems deployed for lifting mammoth volumes of crude oil at offshore and onshore wells.Amongst the regional markets, Europe is expected to witness a boom due to the recent discovery of shale gas in countries such as Poland, Spain, and Denmark. In the near future, Poland is expected to be the leading exporter of natural gas due to huge reserves of shale gas in the country. Countries in the Rest of the World segment will also make a significant contribution to the growth of artificial lift systems as offshore activities continue to rise in Mozambique, Tanzania, and Egypt. Currently, the Middle East remains at the forefront of all export activities related to crude oil.
In the coming years, Asia Pacific is expected to fuel the growth of the artificial lift systems market due to massive demand for energy from countries such as India and China. Growing industrial development, increasing population, and rise in manufacturing activities will also accelerate the demand for artificial lift systems in the Asia Pacific region.
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The research report about the global artificial lift systems market profiles some of the key players such as Kudu Industries, Baker Hughes, Borets Company, Dover Artificial Lift, and Halliburton Company. This chapter gives an insight into each company’s profile, research and development activities, investment plans, and outlook for the near future.
The global artificial lift system market has been segmented as follows:
Artificial Lift Systems Market: Product Type Analysis
- Electrical submersible pump
- Rod lift
- Progressive cavity pump
- Hydraulic pump
- Gas lift
- Plunger lift
Artificial Lift Systems Market: Regional Analysis
- North America
- Asia Pacific
- Rest of the World (RoW)
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