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Global Artificial Lift Market: By Type: Progressive Cavity Pump (PCP), Rod Lift, Electrical Submersible Pumps (ESP), Gas Lift, Plunger Lift; By Mechanism; By Well Type; By Application; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments
Global Artificial lift Market Outlook
The global artificial lift market is expected to grow at a CAGR of 5% in the forecast period of 2023-2028.
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Increasing Demand for Crude Oil is Driving the Artificial Lift Industry Growth
Increasing global population and urbanisation is boosting the demand for oil across the world. Increasing developments in several countries which supply oil, such as Saudi Arabia, Kuwait, and Egypt, among others, are bolstering the growth of the market. Further, electrical submersible pumps are rising in popularity as they are very versatile and can be found in all high production countries. They can manage a wide range of flow rates and exceptionally high downhole temperatures, making them ideal for oil wells as countries focus on oil reservoirs, thereby driving the market growth of artificial lifts. In addition, onshore exploration and production is aiding the worldwide oil production and supporting the growth of the artificial lift industry during the forecast period.
Artificial Lift: Market Segmentation
Artificial lifts are used to lower the producing bottomhole pressure to obtain a higher production from the well. This method is generally used to increase the flow of liquids, such as crude oil or water, from a production well. The method generally uses a pump inside the well or gas is injected to decrease the weight of the hydrostatic column. The produced fluids are oil, water, etc., through production wells. Technologies such as hydraulic pump systems, ESP, gas lift, rod pumps, etc., are propelling this industry ahead.
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Based on type, the market is divided into:
- Progressive Cavity Pump (PCP)
- Rod Lift
- Electrical Submersible Pump (ESP)
- Gas Lift
- Plunger Lift
- Others
On the basis of mechanism, the market is segmented into:
- Pump Assisted
- Gas Assisted
By well type, the market is categorized into:
- Vertical
- Horizontal
Based on application, the market is segregated into:
- Offshore
- Onshore
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Increasing Investments in Offshore Sites Aiding the Growth of Artificial Lift Industry
Several countries are increasingly investing in the untapped offshore sites with deep and ultra-deep water projects foresee potential in the offshore regions, thereby boosting the market growth of artificial lifts. The market growth rate is predicted to significantly increase due to the advancements in technology aiding to overcome the harsh conditions in offshore regions and have soaring production.
The forecast period will also witness explorations in areas such as the Gulf of Mexico, North Sea, etc., due to developments in hydrocarbon levels. Increasing demand for oil and gas has propelled offshore explorations, thereby boosting the growth of the industry.
Key Industry Players in the Global Artificial lift Market
The report gives a detailed analysis of the following key players in the global artificial lift market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Baker Hughes Company
- Schlumberger Limited
- Halliburton Company
- Weatherford International plc
- Borets Company
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Type, Mechanism, Well Type, Application, Region |
| Breakup by Type | Progressive Cavity Pump (PCP), Rod Lift, Electrical Submersible Pumps (ESP), Gas Lift, Plunger Lift, Others |
| Breakup by Mechanism | Pump Assisted, Gas-Assisted |
| Breakup by Well Type | Horizontal, Vertical |
| Breakup by Application | Offshore, Onshore, Others |
| Breakup by Region | North America, Latin America, Europe, Middle East and Africa, Asia Pacific |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Baker Hughes Company, Schlumberger Limited, Halliburton Company, Weatherford International plc, Borets Company, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Artificial Lift Market Analysis
8.1 Key Industry Highlights
8.2 Global Artificial Lift Historical Market (2018-2022)
8.3 Global Artificial Lift Market Forecast (2023-2028)
8.4 Global Artificial Lift Market by Type
8.4.1 Progressive Cavity Pump (PCP)
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Rod Lift
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Electrical Submersible Pumps (ESP)
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Gas Lift
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2022)
8.4.4.3 Forecast Trend (2023-2028)
8.4.5 Plunger Lift
8.4.5.1 Market Share
8.4.5.2 Historical Trend (2018-2022)
8.4.5.3 Forecast Trend (2023-2028)
8.4.6 Others
8.5 Global Artificial Lift Market by Mechanism
8.5.1 Pump Assisted
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Gas-Assisted
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.6 Global Artificial Lift Market by Well Type
8.6.1 Horizontal
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Vertical
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.7 Global Artificial Lift Market by Application
8.7.1 Offshore
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Onshore
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.7.3 Others
8.8 Global Artificial Lift Market by Region
8.8.1 North America
8.8.1.1 Market Share
8.8.1.2 Historical Trend (2018-2022)
8.8.1.3 Forecast Trend (2023-2028)
8.8.2 Europe
8.8.2.1 Market Share
8.8.2.2 Historical Trend (2018-2022)
8.8.2.3 Forecast Trend (2023-2028)
8.8.3 Asia Pacific
8.8.3.1 Market Share
8.8.3.2 Historical Trend (2018-2022)
8.8.3.3 Forecast Trend (2023-2028)
8.8.4 Latin America
8.8.4.1 Market Share
8.8.4.2 Historical Trend (2018-2022)
8.8.4.3 Forecast Trend (2023-2028)
8.8.5 Middle East and Africa
8.8.5.1 Market Share
8.8.5.2 Historical Trend (2018-2022)
8.8.5.3 Forecast Trend (2023-2028)
9 North America Artificial Lift Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Artificial Lift Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Artificial Lift Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Artificial Lift Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Artificial Lift Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Baker Hughes Company
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Schlumberger Limited
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Halliburton Company
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Weatherford International plc
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Borets Company
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Artificial Lift Market: Key Industry Highlights, 2018 and 2028
2. Global Artificial Lift Historical Market: Breakup by Type (USD Billion), 2018-2022
3. Global Artificial Lift Market Forecast: Breakup by Type (USD Billion), 2023-2028
4. Global Artificial Lift Historical Market: Breakup by Mechanism (USD Billion), 2018-2022
5. Global Artificial Lift Market Forecast: Breakup by Mechanism (USD Billion), 2023-2028
6. Global Artificial Lift Historical Market: Breakup by Well Type (USD Billion), 2018-2022
7. Global Artificial Lift Market Forecast: Breakup by Well Type (USD Billion), 2023-2028
8. Global Artificial Lift Historical Market: Breakup by Application (USD Billion), 2018-2022
9. Global Artificial Lift Market Forecast: Breakup by Application (USD Billion), 2023-2028
10. Global Artificial Lift Historical Market: Breakup by Region (USD Billion), 2018-2022
11. Global Artificial Lift Market Forecast: Breakup by Region (USD Billion), 2023-2028
12. North America Artificial Lift Historical Market: Breakup by Country (USD Billion), 2018-2022
13. North America Artificial Lift Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Europe Artificial Lift Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Europe Artificial Lift Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Asia Pacific Artificial Lift Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Asia Pacific Artificial Lift Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. Latin America Artificial Lift Historical Market: Breakup by Country (USD Billion), 2018-2022
19. Latin America Artificial Lift Market Forecast: Breakup by Country (USD Billion), 2023-2028
20. Middle East and Africa Artificial Lift Historical Market: Breakup by Country (USD Billion), 2018-2022
21. Middle East and Africa Artificial Lift Market Forecast: Breakup by Country (USD Billion), 2023-2028
22. Global Artificial Lift Market Structure
Key Questions Answered in the Report
The market is projected to grow at a CAGR of 5% between 2021 and 2026.
The major industry drivers include rising urbanisation and the rapid advancements in technology aiding to overcome the harsh conditions in offshore regions and have soaring production.
Several countries are increasingly investing in the untapped offshore sites with deep and ultra-deep-water projects foresee potential in the offshore regions, this is the key industry trend pushing market growth.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The significant types of artificial lifts are progressive cavity pump (PCP), rod lift, electrical submersible pump (ESP), gas lift and plunger lift, among others.
The well types include horizontal and vertical.
The leading mechanism type in the industry are pump assisted and gas assisted.
Based on application, the market is divided into offshore and onshore, among others.
The major players in the industry are Baker Hughes Company, Schlumberger Limited, Halliburton Company, Weatherford International plc, and Borets Company, among others.
Analyst Review
The global artificial lift market, driven by the advancements in technology aiding to overcome the harsh conditions in offshore regions and have soaring production. Aided by several countries increasingly investing in the untapped offshore sites, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 5%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its types, the artificial lift industry can be segmented into progressive cavity pump (PCP), rod lift, electrical submersible pump (ESP), gas lift and plunger lift, among others. The well type includes horizontal and vertical. The leading mechanism type in the industry are pump assisted and gas assisted. Based on application, the market is divided into offshore and onshore, among others. The major regional markets for artificial lift are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Baker Hughes Company, Schlumberger Limited, Halliburton Company, Weatherford International plc, and Borets Company, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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