Artificial Lift Market to Reach $17,730.2 Million by 2019

The report: “Artificial Lift Market by Mechanism (Positive Displacement, Dynamic Displacement & Gas Assisted) & Types (Rod Lift, ESP, PCP, Gas Lift) - Global Trends & Forecasts to 2019” defines and segments the artificial lift market with analysis and value forecast. It also identifies the driving forces and restraining factors of the artificial lift market, highlighting the latest trends and identifying opportunities.

Browse 91 market data tables and 62 figures spread through 228 pages and in-depth TOC on “Artificial Lift Market”

Early buyers will receive 10% customization on this report.

The global artificial lift market was valued at $10,197.4 million in 2013, and it is projected to reach a value of $17,730.2 million by 2019 from an estimated value of $11,236.2 million in 2014 at a CAGR of 9.6% during the forecast period.

Growing production in countries such as Canada and Venezuela will aid in the growth of artificial lifts; fields in the Middle East are undergoing redevelopment processes, where the use of artificial lifts is inevitable. Russia is currently a successful and prospective market, considering its high production from mature fields, which require artificial lifts to have successful production rates. South Eastern countries engaged in offshore production for decades demand these lifts to enhance production rates. The fastest growing region is expected to be South & Central America, followed by the Middle East and Africa. Currently, the most active market is North America, followed by Europe, reasoned by active implementation of development strategies.

Artificial lifts are suitable for conventional crude production, unconventional crude production, deep and ultra-deep offshore production, rehabilitation of fields, redevelopment of mature fields, low API crude, early production systems, enhanced oil recovery methods, other recovery methods such as Steam Assisted Gravity Drainage (SAGD), Circulated Steam Simulation (CSS), and Cold Heavy Oil Production (CHOPS).

The artificial lift market is projected to grow at a CAGR of 9.6% between 2014 and 2019, with increasing demand in the Asia-Pacific region. The increase in the demand for oil & gas is the prime driver of market growth.

The leading players in the artificial lift market include Baker Hughes Inc. (U.S.), Schlumberger Ltd (U.S.), Weatherford International Ltd. (Switzerland), Halliburton (U.S.), National Oilwell Varco (U.S.), Borets (Russia), and Tenaris S.A. (Luxembourg) among others. The market players in the artificial lift market make substantial investments in R&D to continuously introduce new and more efficient designs. The companies are expanding their markets into new geographic territories to take advantage of new opportunities in emerging economies, while simultaneously maintaining focus on developed markets.

About MarketsandMarkets

MarketsandMarkets is world’s No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.

M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.

We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.

Contact:

Mr. Rohan

North - Dominion Plaza,

17304,Preston Road,

Suite 800, Dallas, TX 75252

Tel: +1-888-600-6441

Email: sales@marketsandmarkets.com