Artificial lift is a method used to lower the producing bottomhole pressure (BHP) on the formation to obtain a higher production rate from the well. This can be done with a positive-displacement downhole pump, such as a beam pump or a progressive cavity pump (PCP), to lower the flowing pressure at the pump intake. It also can be done with a downhole centrifugal pump, which could be a part of an electrical submersible pump (ESP) system. Most oil wells require artificial lift at some point in the life of the field, and many gas wells benefit from artificial lift to take liquids off the formation so gas can flow at a higher rate.
This report aims to provide a comprehensive presentation of the global market for Artificial Lift, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Artificial Lift. This report contains market size and forecasts of Artificial Lift in global, including the following market information:
- Global Artificial Lift Market Revenue, 2018-2023, 2024-2029, ($ millions)
- Global Artificial Lift Market Sales, 2018-2023, 2024-2029, (K Units)
Global top five Artificial Lift companies in 2022 (%)
The global Artificial Lift market was valued at US$ 11220 million in 2022 and is projected to reach US$ 13940 million by 2029, at a CAGR of 3.2% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
The major players in global Artificial Lift market include Weatherford, Schlumberger, General Electric, etc. The top 3 players occupy about 50% shares of the global market. North America is the main market, and occupies over 60% of the global market. ESP is the main type, with a share about 45%. Onshore and Offshore are main applications.
We surveyed the Artificial Lift manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Artificial Lift Market, by Type, 2018-2023, 2024-2029 ($ Millions) & (K Units)
Global Artificial Lift Market Segment Percentages, by Type, 2022 (%)
- Rod Lift
- ESP
- PCP
- Hydraulic Pumps
- Gas Lift
- Plunger Lift
- Others
Global Artificial Lift Market, by Application, 2018-2023, 2024-2029 ($ Millions) & (K Units)
Global Artificial Lift Market Segment Percentages, by Application, 2022 (%)
Global Artificial Lift Market, By Region and Country, 2018-2023, 2024-2029 ($ Millions) & (K Units)
Global Artificial Lift Market Segment Percentages, By Region and Country, 2022 (%)
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Russia
- Nordic Countries
- Benelux
- Rest of Europe
- Asia
- China
- Japan
- South Korea
- Southeast Asia
- India
- Rest of Asia
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- Turkey
- Israel
- Saudi Arabia
- UAE
- Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
- Key companies Artificial Lift revenues in global market, 2018-2023 (Estimated), ($ millions)
- Key companies Artificial Lift revenues share in global market, 2022 (%)
- Key companies Artificial Lift sales in global market, 2018-2023 (Estimated), (K Units)
- Key companies Artificial Lift sales share in global market, 2022 (%)
- Further, the report presents profiles of competitors in the market, key players include:
- Weatherford
- Schlumberger
- General Electric
- GE(Baker Hughes)
- Halliburton
- Dover
- National Oilwell Varco
- Borets
- Cameron
- Novomet
- Outline of Major Chapters:
- Chapter 1: Introduces the definition of Artificial Lift, market overview.
- Chapter 2: Global Artificial Lift market size in revenue and volume.
- Chapter 3: Detailed analysis of Artificial Lift manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
- Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
- Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
- Chapter 6: Sales of Artificial Lift in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
- Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
- Chapter 8: Global Artificial Lift capacity by region & country.
- Chapter 9: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
- Chapter 10: Analysis of industrial chain, including the upstream and downstream of the industry.
- Chapter 11: The main points and conclusions of the report.
