Nov 1, 2018   SOURCE: BusinessWire

Artificial Lift Systems: Global Market to Reach $54 Billion by 2026 - ResearchAndMarkets.com

The "Artificial Lift Systems - Global Market Outlook (2017-2026)" report has been added to ResearchAndMarkets.com's offering.

According to this report, the Global Artificial Lift Systems market accounted for $18,337.42 million in 2017 and is expected to reach $54,040.47 million by 2026 growing at a CAGR of 12.7%.

Factors such as increasing oil & shale gas production, growing usage of automation and remote technology and rising number of mature fields are boosting the market growth. In addition, increase in subsea drilling activities and growing levels of exploration activities will provide ample opportunities for the market growth. However, high cost of investment and strict government policies are hindering the growth of the market.

By type, electrical submersible pump (ESP) segment registered considerable share during the forecast period. The growth is due to huge demand from agriculture and wastewater treatment industries. The pump is extensively used to lift huge volumes of oil in both offshore and onshore wells.

North America is the leading market for artificial lift systems followed by Europe and it is expected to continue its growth during the forecast period, due to rapidly growing production of components such as pumps, motors, controllers, and sucker rods in the region.

Key Topics Covered

1 Executive Summary

2 Preface

3 Market Trend Analysis

4 Porters Five Force Analysis

5 Global Artificial Lift Systems Market, By Actuation mode

6 Global Artificial Lift Systems Market, By Component

7 Global Artificial Lift Systems Market, By Mechanism

8 Global Artificial Lift Systems Market, By Application

9 Global Artificial Lift Systems Market, By Geography

10 Key Developments

11 Company Profiling

  • Compass Oil and Gas Solutions Ltd.
  • Flotek Industries, Inc.
  • Halliburton Company
  • National Oilwell Varco, Inc.
  • Superior Energy Services, Inc.
  • Borets International Limited
  • Baker Hughes Incorporated
  • Weatherford International Ltd.
  • Torqueflow Sydex Ltd.
  • Novomet
  • General Electric Company
  • Dover Corporation
  • Schlumberger Limited
  • Kudu Industries Inc.
  • Cameron International Corporation
  • Dover Corporation
  • J&J Technical Services, LLC

For more information about this report visit https://www.researchandmarkets.com/research/lbr3b8/artificial_lift?w=4