A
new report published by Transparency Market Research titled
“Artificial Lift Systems Market- Global Industry Analysis, Size,
Share, Growth, Trends and Forecast, 2014 – 2020” states that the
global artificial
lift systems market would reach US$19,806.8 million by 2020. The
market was estimated at US$13,806.0 million in 2014 and is
anticipated to expand at a 6.20% CAGR during 2014 to 2020.
A
significant growth is seen in the artificial lift systems market due
to increase in the exploration and production activities in offshore
reserves and large volumes of crude oil extraction from matured
reserves. These growth drivers can be witnessed in both the developed
and emerging regions such as North America, Asia, Europe and RoW.
Presently, North America dominates the market for artificial lift
systems. The shale gas revolution in North America boosts the overall
artificial lift systems market. North American countries such as
Canada and the U.S. have high shale gas reserves.
The
report segments the global artificial lift systems market based on
product type. Product-wise, the artificial lift systems market is
segmented into electrical submersible pumps, progressive cavity
pumps, rod lifts, hydraulic pumps, plunger lifts and gas lifts.
Electrical submersible pumps segment is projected to occupy largest
share of the global artificial lift systems market in 2020. This is
due to its wide usage in onshore and offshore reserves. Moreover,
owing to the unique properties of electrical submersible pumps they
can be easily employed in a number of wells.
To
Get More Details :
http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1954
The
study considers 2013 as the base year for calculations and provides
growth strategies, recent developments, and in-depth forecasts for
the artificial lift systems market. The report also discusses the
impact of declining crude oil prices on the growth of this market.
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exclusive blend of quantitative forecasting and trend analysis
provides forward-looking insight for thousands of decision makers.
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gather and analyze information.
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research experts so that it always reflects the latest trends and
information. With extensive research and analysis capabilities,
Transparency Market Research employs rigorous primary and secondary
research techniques to develop distinctive data sets and research
material for business reports.
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