Global Artificial Lift Market – Analysis and Forecast (2021-2027)

Industry Insights by Type (Rod Lift, Electric Submersible, Progressive Cavity Pumps, Gas Lift and Others), by Mechanism (Pump Assisted [Positive Displacement and Dynamic Displacement] and Gas Assisted), by Application (Onshore and Offshore)

Industry Overview

Global artificial lift market was valued at USD 11.5 billion in 2020 and reached to USD 16.2 billion by 2027. The market is witnessing significant growth owing to extensive demand for fossil fuels and escalating number of settled reserves that comprises of a large amount of crude oil. Additionally, swelling production capabilities of shale gas and heavy oil are further driving the growth of artificial lift market globally. 

Market Segmentation

Insight by Type

On the basis of type, the global artificial lift market is segmented into Rod Lift, Electric Submersible, Progressive Cavity Pumps, Gas Lift and Others types of artificial lift. Among all the types, rod lift is expected to witness the fastest growth, registering a CAGR 6.5% during the forecast period 2021–2027. The rapid growth of rod lift is contributed towards enhanced demand in U.S. and Canada for the unconventional fabrication of oil and shale gas. Rod lifts are considered to be quiet economical and efficient alternative enabling manufacturers in developing consistency in several downhole equipment’s, which provides enhanced volume and higher deviations in production process thereby contributing towards the accelerating growth of global artificial lift market.

Industry Dynamics

Growth Drivers

The maturing oil and gas fields, accelerating deep-water or ultra-deep activities and depleting oil reservoirs are the major driving factors contributing towards the growth of global artificial lift market. Oil production is observed to be enhanced at a peak rate approximately in 35 countries including some of the major oil producers such as Kuwait and Russia. Moreover, artificial lifts enable the producer to have better control, optimizing unloading fluid process and performing various activities such as gas injection points without any hindrance and in an efficient manner.

This flexibility in operations achieved by artificial lift is expected to help in fulfilling the future demand for oil and gas manipulation challenges by significantly decreasing gas-lift costs for subsea wells and deep water. All these factors are excessively enhancing the demand for artificial lift market across the globe.  

Challenges

Application of artificial lift in horizontal wells is the major challenge for the growth of global artificial lift market. It has been observed that the artificial lifts are not significant for wells with substantial deviations from vertical wells. The placement of rod pumps and other artificial lift methods in a strayed manner leads to several problems such as high exertion on the reservoir, deprived liquid lift proficiencies due to the intrusion of gas in down-hole pumps and huge operating costs are some of the factors that hinder the growth of artificial lift market globally.

Industry Ecosystem

Globally industry players in artificial lift market are leveraging new and innovative artificial lift technologies consolidated with new techniques and processes that enable its users to maximize production capabilities and reduce risk and thus assist shale operators to attain a competitive edge. The providers are continuously implementing low-cost effective lift systems and help the users in attaining optimum production capabilities to flourish in the existing artificial lift market.

Geographic Overview

Geographically, North America is the largest artificial lift market as the region is observing pervasive demand for primary energy resources such as household activities, transportation and power generation is expanding the consumption of oil and gas in this region. This is persuading the manufacturers of oil and gas to meet this ever-increasing demand and thereby dig deep, thus leading to accelerating demand for artificial lift in North America.

Moreover, Asia Pacific is expected to witness fastest growth in artificial lift market during the forecast period 2017–2023. Countries in this region specifically China and India is estimated to swell the oil and gas demand that is expected to drive the demand for artificial lift market in this region.

Competitive Insight

Due to increasing opportunities observed by oil and gas producers in artificial lift market and development of mature fields are encouraging the manufacturers to rapidly adopt this system and provide cost efficiency and steady performance to its customers. Market players in the artificial lift system are Baker Hughes, Schlumberger, Dover Corporation, Cameron International, Borets, Weatherford, GE Oil & Gas, Halliburton, John Crane, and National Oilwell Varco.

1. Research Overview

1.1.  The Report Offers

1.2.  Market Coverage

1.2.1. By Type

1.2.2. By Mechanism

1.2.3. By Application

1.2.4. By Region

1.3.  Research Phases

1.4.  Limitations

1.5.  Market Size Estimations and Forecast

1.5.1. Data Sources

1.5.1.1. Primary Research

1.5.1.2. Secondary Research

1.5.2. Methodology

1.5.2.1. Data Exploration

1.5.2.2. Forecast Parameters

1.5.2.3. Data Validation

1.5.2.4. Assumptions

1.5.3. Study Period & Data Reporting Unit

2. Executive Summary

3. Market Definition

3.1.  By Type

3.1.1. Rod Lift

3.1.2. Electric Submersible Pump

3.1.3. Progressive Cavity Pumps

3.1.4. Gas Lift

3.1.5. Others

3.2.  By Mechanism

3.2.1. Pump Assisted (Positive Displacement and Dynamic Displacement)

3.2.2. Gas Assisted

3.3.  By Application

3.3.1. Onshore

3.3.2. Offshore

4. Industry Overview

4.1.  Industry Dynamics

4.1.1. Market Growth Drivers

4.1.2. Market Growth Restraints

4.1.3. Key Market Trends

4.1.4. Major Opportunities

4.2.  Industry Ecosystem

4.2.1. Porter’s Five Forces Analysis

4.2.2. Strategic Development Analysis

4.2.3. Value Chain Analysis

4.3.  Competitive Insight

4.3.1. Competitive Position of Industry Players

4.3.2. Market Attractive Analysis

5. Global Market Estimate and Forecast

5.1.  By Type

5.2.  By Mechanism

5.3.  By Application

5.4.  By Region

6. North America Market Estimate and Forecast

6.1.  By Type

6.2.  By Mechanism

6.3.  By Application

6.4.  By Country

6.4.1. U.S. Market Estimate and Forecast

6.4.1.1. By Type

6.4.1.2. By Mechanism

6.4.1.3. By Application

6.4.2. Canada Market Estimate and Forecast

6.4.2.1. By Type

6.4.2.2. By Mechanism

6.4.2.3. By Application

7. Europe Market Estimate and Forecast

7.1.  By Type

7.2.  By Mechanism

7.3.  By Application

7.4.  By Country

7.4.1. Russia Market Estimate and Forecast

7.4.1.1. By Type

7.4.1.2. By Mechanism

7.4.1.3. By Application

7.4.2. U.K. Market Estimate and Forecast

7.4.2.1. By Type

7.4.2.2. By Mechanism

7.4.2.3. By Application

7.4.3. Norway Market Estimate and Forecast

7.4.3.1. By Type

7.4.3.2. By Mechanism

7.4.3.3. By Application

7.4.4. Rest of Europe Market Estimate and Forecast

7.4.4.1. By Type

7.4.4.2. By Mechanism

7.4.4.3. By Application

8. Asia-Pacific Market Estimate and Forecast

8.1.  By Type

8.2.  By Mechanism

8.3.  By Application

8.4.  By Country

8.4.1. Indonesia Market Estimate and Forecast

8.4.1.1. By Type

8.4.1.2. By Mechanism

8.4.1.3. By Application

8.4.2. China Market Estimate and Forecast

8.4.2.1. By Type

8.4.2.2. By Mechanism

8.4.2.3. By Application

8.4.3. India Market Estimate and Forecast

8.4.3.1. By Type

8.4.3.2. By Mechanism

8.4.3.3. By Application

8.4.4. Malaysia Market Estimate and Forecast

8.4.4.1. By Type

8.4.4.2. By Mechanism

8.4.4.3. By Application

8.4.5. Rest of Asia-Pacific Market Estimate and Forecast

8.4.5.1. By Type

8.4.5.2. By Mechanism

8.4.5.3. By Application

9. South & Central America Market Estimate and Forecast

9.1.  By Type

9.2.  By Mechanism

9.3.  By Application

9.4.  By Country

9.4.1. Brazil Market Estimate and Forecast

9.4.1.1. By Type

9.4.1.2. By Mechanism

9.4.1.3. By Application

9.4.2. Colombia Market Estimate and Forecast

9.4.2.1. By Type

9.4.2.2. By Mechanism

9.4.2.3. By Application

9.4.3. Ecuador Market Estimate and Forecast

9.4.3.1. By Type

9.4.3.2. By Mechanism

9.4.3.3. By Application

9.4.4. Venezuela Market Estimate and Forecast

9.4.4.1. By Type

9.4.4.2. By Mechanism

9.4.4.3. By Application

9.4.5. Mexico Market Estimate and Forecast

9.4.5.1. By Type

9.4.5.2. By Mechanism

9.4.5.3. By Application

9.4.6. Rest of South & Central America Market Estimate and Forecast

9.4.6.1. By Type

9.4.6.2. By Mechanism

9.4.6.3. By Application

10.  Middle East & Africa (MEA) Market Estimate and Forecast

10.1.  By Type

10.2.  By Mechanism

10.3.  By Application

10.4.  By Country

10.4.1.  Nigeria Market Estimate and Forecast

10.4.1.1. By Type

10.4.1.2. By Mechanism

10.4.1.3. By Application

10.4.2.  Saudi Arabia Market Estimate and Forecast

10.4.2.1. By Type

10.4.2.2. By Mechanism

10.4.2.3. By Application

10.4.3.  Oman Market Estimate and Forecast

10.4.3.1. By Type

10.4.3.2. By Mechanism

10.4.3.3. By Application

10.4.4.  Angola Market Estimate and Forecast

10.4.4.1. By Type

10.4.4.2. By Mechanism

10.4.4.3. By Application

10.4.5.  Kuwait Market Estimate and Forecast

10.4.5.1. By Type

10.4.5.2. By Mechanism

10.4.5.3. By Application

10.4.6.  UAE Market Estimate and Forecast

10.4.6.1. By Type

10.4.6.2. By Mechanism

10.4.6.3. By Application

10.4.7.  Rest of MEA Market Estimate and Forecast

10.4.7.1. By Type

10.4.7.2. By Mechanism

10.4.7.3. By Application

11.  Company Profiles

11.1.  Baker Hughes

11.1.1.  Snapshot

11.1.2.  Overview

11.1.3.  Offerings

11.1.4.  Financial Insight

11.1.5.  Recent Developments

11.2.  Schlumberger

11.2.1.  Snapshot

11.2.2.  Overview

11.2.3.  Offerings

11.2.4.  Financial Insight

11.2.5.  Recent Developments

11.3.  Dover Corporation

11.3.1.  Snapshot

11.3.2.  Overview

11.3.3.  Offerings

11.3.4.  Financial Insight

11.3.5.  Recent Developments

11.4.  Cameron International

11.4.1.  Snapshot

11.4.2.  Overview

11.4.3.  Offerings

11.4.4.  Financial Insight

11.4.5.  Recent Developments

11.5.  Borets

11.5.1.  Snapshot

11.5.2.  Overview

11.5.3.  Offerings

11.5.4.  Financial Insight

11.5.5.  Recent Developments

11.6.  Weatherford

11.6.1.  Snapshot

11.6.2.  Overview

11.6.3.  Offerings

11.6.4.  Financial Insight

11.6.5.  Recent Developments

11.7.  GE Oil & Gas

11.7.1.  Snapshot

11.7.2.  Overview

11.7.3.  Offerings

11.7.4.  Financial Insight

11.7.5.  Recent Developments

11.8.  Halliburton

11.8.1.  Snapshot

11.8.2.  Overview

11.8.3.  Offerings

11.8.4.  Financial Insight

11.8.5.  Recent Developments

11.9.  John Crane

11.9.1.  Snapshot

11.9.2.  Overview

11.9.3.  Offerings

11.9.4.  Financial Insight

11.9.5.  Recent Developments

11.10. National Oilwell Varco

11.10.1. Snapshot

11.10.2. Overview

11.10.3. Offerings

11.10.4. Financial Insight

11.10.5. Recent Developments

Note: Financial insight and recent developments are subject to availability of information in secondary domain

List of Tables

Table 1 Sources
Table 2 Study Periods
Table 3 Data Reporting Unit
Table 4 Global Artificial Lift Market Size, by Type, 2015 – 2020 (USD Million)
Table 5 Global Artificial Lift Market Size, by Type, 2021 – 2027 (USD Million)
Table 6 Global Artificial Lift Market Size, by Mechanism, 2015 – 2020 (USD Million)
Table 7 Global Artificial Lift Market Size, by Mechanism, 2021 – 2027 (USD Million)
Table 8 Global Artificial Lift Market Size, by Application, 2015 – 2020 (USD Million)
Table 9 Global Artificial Lift Market Size, by Application, 2021 – 2027 (USD Million)
Table 10 Global Artificial Lift Market Size, by Region, 2015 – 2020 (USD Million)
Table 11 Global Artificial Lift Market Size, by Region, 2021 – 2027 (USD Million)
Table 12 North America Artificial Lift Market Size, by Type, 2015 – 2020 (USD Million)
Table 13 North America Artificial Lift Market Size, by Type, 2021 – 2027 (USD Million)
Table 14 North America Artificial Lift Market Size, by Mechanism, 2015 – 2020 (USD Million)
Table 15 North America Artificial Lift Market Size, by Mechanism, 2021 – 2027 (USD Million)
Table 16 North America Artificial Lift Market Size, by Application, 2015 – 2020 (USD Million)
Table 17 North America Artificial Lift Market Size, by Application, 2021 – 2027 (USD Million)
Table 18 North America Artificial Lift Market Size, by Country, 2015 – 2020 (USD Million)
Table 19 North America Artificial Lift Market Size, by Country, 2021 – 2027 (USD Million)
Table 20 Europe Artificial Lift Market Size, by Type, 2015 – 2020 (USD Million)
Table 21 Europe Artificial Lift Market Size, by Type, 2021 – 2027 (USD Million)
Table 22 Europe Artificial Lift Market Size, by Mechanism, 2015 – 2020 (USD Million)
Table 23 Europe Artificial Lift Market Size, by Mechanism, 2021 – 2027 (USD Million)
Table 24 Europe Artificial Lift Market Size, by Application, 2015 – 2020 (USD Million)
Table 25 Europe Artificial Lift Market Size, by Application, 2021 – 2027 (USD Million)
Table 26 Europe Artificial Lift Market Size, by Country, 2015 – 2020 (USD Million)
Table 27 Europe Artificial Lift Market Size, by Country, 2021 – 2027 (USD Million)
Table 28 Asia-Pacific Artificial Lift Market Size, by Type, 2015 – 2020 (USD Million)
Table 29 Asia-Pacific Artificial Lift Market Size, by Type, 2021 – 2027 (USD Million)
Table 30 Asia-Pacific Artificial Lift Market Size, by Mechanism, 2015 – 2020 (USD Million)
Table 31 Asia-Pacific Artificial Lift Market Size, by Mechanism, 2021 – 2027 (USD Million)
Table 32 Asia-Pacific Artificial Lift Market Size, by Application, 2015 – 2020 (USD Million)
Table 33 Asia-Pacific Artificial Lift Market Size, by Application, 2021 – 2027 (USD Million)
Table 34 Asia-Pacific Artificial Lift Market Size, by Country, 2015 – 2020 (USD Million)
Table 35 Asia-Pacific Artificial Lift Market Size, by Country, 2021 – 2027 (USD Million)
Table 36 South & Central America Artificial Lift Market Size, by Type, 2015 – 2020 (USD Million)
Table 37 South & Central America Artificial Lift Market Size, by Type, 2021 – 2027 (USD Million)
Table 38 South & Central America Artificial Lift Market Size, by Mechanism, 2015 – 2020 (USD Million)
Table 39 South & Central America Artificial Lift Market Size, by Mechanism, 2021 – 2027 (USD Million)
Table 40 South & Central America Artificial Lift Market Size, by Application, 2015 – 2020 (USD Million)
Table 41 South & Central America Artificial Lift Market Size, by Application, 2021 – 2027 (USD Million)
Table 42 South & Central America Artificial Lift Market Size, by Country, 2015 – 2020 (USD Million)
Table 43 South & Central America Artificial Lift Market Size, by Country, 2021 – 2027 (USD Million)
Table 44 Middle East & Africa Artificial Lift Market Size, by Type, 2015 – 2020 (USD Million)
Table 45 Middle East & Africa Artificial Lift Market Size, by Type, 2021 – 2027 (USD Million)
Table 46 Middle East & Africa Artificial Lift Market Size, by Mechanism, 2015 – 2020 (USD Million)
Table 47 Middle East & Africa Artificial Lift Market Size, by Mechanism, 2021 – 2027 (USD Million)
Table 48 Middle East & Africa Artificial Lift Market Size, by Application, 2015 – 2020 (USD Million)
Table 49 Middle East & Africa Artificial Lift Market Size, by Application, 2021 – 2027 (USD Million)
Table 50 Middle East & Africa Artificial Lift Market Size, by Country, 2015 – 2020 (USD Million)
Table 51 Middle East & Africa Artificial Lift Market Size, by Country, 2021 – 2027 (USD Million)
Table 52 Snapshot – Baker Hughes
Table 53 Snapshot – Schlumberger
Table 54 Snapshot – Dover Corporation
Table 55 Snapshot – Cameron International
Table 56 Snapshot – Borets
Table 57 Snapshot – Weatherford
Table 58 Snapshot – GE Oil & Gas
Table 59 Snapshot – Halliburton
Table 60 Snapshot – John Crane
Table 61 Snapshot – National Oilwell Varco

List of Figures

Figure 1 Market Coverage
Figure 2 Research Phases
Figure 3 Secondary Sources for Different Parameters
Figure 4 Methodology
Figure 5 Data Mining & Exploration
Figure 6 Data Triangulation
Figure 7 Assumptions for Market Estimation and Forecast
Figure 8 Market Synopsis
Figure 9 Global Artificial Lift Market - Growth Drivers and Restraints
Figure 10 Competitive Benchmark
Figure 11 Global Artificial Lift Market Highlight
Figure 12 Global Artificial Lift Market Size, by Type, 2015 – 2027 (USD Million)
Figure 13 Global Artificial Lift Market Size, by Mechanism, 2015 – 2027 (USD Million)
Figure 14 Global Artificial Lift Market Size, by Application, 2015 – 2027 (USD Million)
Figure 15 Global Artificial Lift Market Size, by Region, 2015 – 2027 (USD Million)
Figure 16 North America Artificial Lift Market Highlight
Figure 17 North America Artificial Lift Market Size, by Type, 2015 – 2027 (USD Million)
Figure 18 North America Artificial Lift Market Size, by Mechanism, 2015 – 2027 (USD Million)
Figure 19 North America Artificial Lift Market Size, by Application, 2015 – 2027 (USD Million)
Figure 20 North America Artificial Lift Market Size, by Country, 2015 – 2027 (USD Million)
Figure 21 Europe Artificial Lift Market Highlight
Figure 22 Europe Artificial Lift Market Size, by Type, 2015 – 2027 (USD Million)
Figure 23 Europe Artificial Lift Market Size, by Mechanism, 2015 – 2027 (USD Million)
Figure 24 Europe Artificial Lift Market Size, by Application, 2015 – 2027 (USD Million)
Figure 25 Europe Artificial Lift Market Size, by Country, 2015 – 2027 (USD Million)
Figure 26 Asia-Pacific Artificial Lift Market Highlight
Figure 27 Asia-Pacific Artificial Lift Market Size, by Type, 2015 – 2027 (USD Million)
Figure 28 Asia-Pacific Artificial Lift Market Size, by Mechanism, 2015 – 2027 (USD Million)
Figure 29 Asia-Pacific Artificial Lift Market Size, by Application, 2015 – 2027 (USD Million)
Figure 30 Asia-Pacific Artificial Lift Market Size, by Country, 2015 – 2027 (USD Million)
Figure 31 South & Central America Artificial Lift Market Highlight
Figure 32 South & Central America Artificial Lift Market Size, by Type, 2015 – 2027 (USD Million)
Figure 33 South & Central America Artificial Lift Market Size, by Mechanism, 2015 – 2027 (USD Million)
Figure 34 South & Central America Artificial Lift Market Size, by Application, 2015 – 2027 (USD Million)
Figure 35 South & Central America Artificial Lift Market Size, by Country, 2015 – 2027 (USD Million)
Figure 36 Middle East & Africa Artificial Lift Market Highlight
Figure 37 Middle East & Africa Artificial Lift Market Size, by Type, 2015 – 2027 (USD Million)
Figure 38 Middle East & Africa Artificial Lift Market Size, by Mechanism, 2015 – 2027 (USD Million)
Figure 39 Middle East & Africa Artificial Lift Market Size, by Application, 2015 – 2027 (USD Million)
Figure 40 Middle East & Africa Artificial Lift Market Size, by Country, 2015 – 2027 (USD Million)