Artificial Lift System Market Segmentation and Forecast 2013 – 2020

Posted by admin on February 5, 2018 in Articles

Global Artificial Lift System
(Types, Components and Geography) – Size, Share, Global
Trends, Company Profiles, Demand, Insights, Segmentation
and Forecast, 2013 – 2020© ALLIED MARKET RESEARCH Artificial lift is a system used to increase the oil production from the oil reservoirs. Artificial lift
comprises of the various components such as pump, motor, pump jack, drivehead etc. The
integration of components form the artificial lift system. These are used to extract the oil from
lowest depths of the reservoir to the surface level. Depleted oil reserves, maturing oil wells and
declining oil reservoirs around the world are the major drivers for adoption of the artificial lift in
the oil and gas industry. The artificial lift system generates a high pressure to lift the oil from deep
oil wells to the surface area. The increasing global oil exploration activities and decreasing
pressure of oil wells are fueling the market growth. However, stringent government regulations
and volatility in the oil and gas industry are major threats for the market. Growing demand of the
oil field equipment and rising levels of exploration activities would provide the better
opportunities to the market.
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The key player in the market are introducing efficient and reliable artificial lift systems to
minimize the operational cost. The market is segmented based on the type, components and
geography. The type segment comprises of the ESP, PCP, rod lift, plunger lift, gas lift and others.
The oil producing companies select artificial lift types based on surface, reservoir, fluid and
operational conditions. ESP is a system used for lifting moderate to high volumes of fluids from
wellbores. Gas lift is suitable for use for extracting fluids in wells, which have a large presence of
gas. The component segment is classified into pump, motor, sucker rods, separators,…