Artificial Lift Systems - Global Markets to 2023: The Need to Enhance Production Levels is Driving Growth - ResearchAndMarkets.com

The "Global Artificial Lift Systems Market - Growth, Trends and Forecasts (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.

The need for enhanced recovery rates, growing number of wells that require secondary extraction, increasing demand for energy & petrochemicals and technological advancements that are enabling companies to economically extract oil from challenging areas are some of the factors driving the growth of artificial lifts market.

Need to Enhance Production Levels - Driving the Artificial Lift Systems Market

Most oil & gas fields operating now have been in production for a few decades. They are either matured or at the end of their production life. The challenge of meeting a 40% increase in demand for oil over next two decades may seem daunting unless productivity of existing wells increases or new sites for production are found.

The new discoveries are increasingly in remote geographies and difficult environments, such as deep under water or from unconventional sources, such as shale oil and shale gas, where associated risk stands to be very high. In addition, the new discoveries are very small as compared to the historically huge assets, such as Texas' Spindletop or Saudi Arabia's Ghawar.

Hence, such concerns have been increasingly attracting the attention of the market players toward improving the recovery rates of existing fields, thereby positively impacting artificial lifts market.

Key Highlights

  • North America to Dominate the Market Growth
  • Increasing Artificial Lift Systems Demand in US

Developments in the Market

  • West Texas' surging Permian Basin continues to add new drilling activity.
  • The Trump administration allowed new offshore oil & gas drilling in nearly all United States coastal waters, giving energy companies access to leases off California for the first time in decades and opening more than a billion acres in the Arctic and along the Eastern Seaboard.

Key Topics Covered

1. Executive Summary

2. Research Approach and Methodology

3. Market Overview

4. Market Dynamics

5. Supply Chain Analysis

6. Porter's Five Forces Framework

7. Artificial Lift Systems Market Analysis by Type

8. Artificial Lift Systems Market Analysis by Geography

9. Company Profiles of Key Players

  • Baker Hughes Inc.
  • Borets Company LLC
  • Dover Artificial Lift
  • Flotek Industries Inc.
  • GE Oil & Gas
  • Halliburton Company
  • National Oilwell Varco Inc.
  • Schlumberger Limited
  • Weatherford International Ltd.
  • Alkhorayef
  • Novomet

10. Competitive Landscape

11. Future Outlook of the Market

For more information about this report visit https://www.researchandmarkets.com/research/68dqvw/artificial_lift?w=4