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Artificial Lift System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global artificial lift system market reached a value of US$ 20.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 28.95 Billion by 2027, exhibiting a CAGR of 5.60% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor. 

An artificial lift system refers to a mechanical lifting method used to lower the producing bottomhole pressure (BHP) on the development to increase the production rate from the well. Hydraulic lift, progressive cavity pump (PCP), rod lift, electric submersible pump (ESP), plunger lift, and gas lift are some of the common types of artificial lift systems. Consisting of a motor, pump, impellers, blades, controller, and a cable system, an artificial lift system is widely used to generate a higher rate current from a well that is not strong enough to push oil to the surface. Apart from this, these systems are efficient, simple, wireless retrievable, offer a high degree of flexibility, and can handle unfavorable climatic conditions.

Artificial Lift System Market Trends:

Significant growth in the oil and gas industry across the globe is creating a positive outlook for the market. In line with this, artificial lift systems are widely used during oil production and exploration activities to increase the pressure within the reservoir and encourage oil to the surface at higher efficiency. Apart from this, various advancements in technologies, such as the integration of artificial intelligence (AI) and the Internet of Things (IoT) to optimize hydrocarbon withdrawal and prevent the incidence of destructive events, are providing a considerable boost to the market growth. Additionally, the increasing demand for ESPs due to their versatile nature and the ability to handle a high volume and a wide range of flow rates while operating efficiently in harsh environmental conditions is augmenting the market growth. Other factors, including the rapid establishment of new exploration fields and the increasing number of onshore and offshore production and exploration activities, are anticipated to drive the market toward growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global artificial lift system market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on lift type, well type, mechanism and application.

Breakup by Lift Type:

  • Electric Submersible Pumps (ESP)
  • Progressing Cavity Pumps (PCP)
  • Gas Lift
  • Rod Lift
  • Hydraulic Pumps
  • Others
     

Breakup by Well Type:

  • Horizontal
  • Vertical
     

Breakup by Mechanism:

  • Gas Assisted
  • Pump Assisted
     

Breakup by Application:

  • Offshore
  • Onshore
     

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Baker Hughes Company, Borets International Ltd., Canadian Advanced ESP Inc., ChampionX, Dover Corporation, General Electric Company, Halliburton Company, JJ Tech, NOV Inc., Schlumberger Limited, Tenaris S.A. (Techint) and Weatherford International plc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Lift Type, Well Type, Mechanism, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Baker Hughes Company, Borets International Ltd., Canadian Advanced ESP Inc., ChampionX, Dover Corporation, General Electric Company, Halliburton Company, JJ Tech, NOV Inc., Schlumberger Limited, Tenaris S.A. (Techint) and Weatherford International plc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

Key Questions Answered in This Report:

  • How has the global artificial lift system market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global artificial lift system market?
  • What are the key regional markets?
  • What is the breakup of the market based on the lift type?
  • What is the breakup of the market based on the well type?
  • What is the breakup of the market based on the mechanism?
  • What is the breakup of the market based on the application?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global artificial lift system market and who are the key players?
  • What is the degree of competition in the industry?

1    Preface
2    Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global Artificial Lift System Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Lift Type
    6.1    Electric Submersible Pumps (ESP)
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Progressing Cavity Pumps (PCP)
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Gas Lift
        6.3.1 Market Trends
        6.3.2 Market Forecast
    6.4    Rod Lift
        6.4.1 Market Trends
        6.4.2 Market Forecast
    6.5    Hydraulic Pumps
        6.5.1 Market Trends
        6.5.2 Market Forecast
    6.6    Others
        6.6.1 Market Trends
        6.6.2 Market Forecast
7    Market Breakup by Well Type
    7.1    Horizontal
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Vertical
        7.2.1 Market Trends
        7.2.2 Market Forecast
8    Market Breakup by Mechanism
    8.1    Gas Assisted
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Pump Assisted
        8.2.1 Market Trends
        8.2.2 Market Forecast
9    Market Breakup by Application
    9.1    Offshore
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    Onshore
        9.2.1 Market Trends
        9.2.2 Market Forecast
10    Market Breakup by Region
    10.1    North America
        10.1.1 United States
           10.1.1.1 Market Trends
           10.1.1.2 Market Forecast
        10.1.2 Canada
           10.1.2.1 Market Trends
           10.1.2.2 Market Forecast
    10.2    Asia-Pacific
        10.2.1 China
           10.2.1.1 Market Trends
           10.2.1.2 Market Forecast
        10.2.2 Japan
           10.2.2.1 Market Trends
           10.2.2.2 Market Forecast
        10.2.3 India
           10.2.3.1 Market Trends
           10.2.3.2 Market Forecast
        10.2.4 South Korea
           10.2.4.1 Market Trends
           10.2.4.2 Market Forecast
        10.2.5 Australia
           10.2.5.1 Market Trends
           10.2.5.2 Market Forecast
        10.2.6 Indonesia
           10.2.6.1 Market Trends
           10.2.6.2 Market Forecast
        10.2.7 Others
           10.2.7.1 Market Trends
           10.2.7.2 Market Forecast
    10.3    Europe
        10.3.1 Germany
           10.3.1.1 Market Trends
           10.3.1.2 Market Forecast
        10.3.2 France
           10.3.2.1 Market Trends
           10.3.2.2 Market Forecast
        10.3.3 United Kingdom
           10.3.3.1 Market Trends
           10.3.3.2 Market Forecast
        10.3.4 Italy
           10.3.4.1 Market Trends
           10.3.4.2 Market Forecast
        10.3.5 Spain
           10.3.5.1 Market Trends
           10.3.5.2 Market Forecast
        10.3.6 Russia
           10.3.6.1 Market Trends
           10.3.6.2 Market Forecast
        10.3.7 Others
           10.3.7.1 Market Trends
           10.3.7.2 Market Forecast
    10.4    Latin America
        10.4.1 Brazil
           10.4.1.1 Market Trends
           10.4.1.2 Market Forecast
        10.4.2 Mexico
           10.4.2.1 Market Trends
           10.4.2.2 Market Forecast
        10.4.3 Others
           10.4.3.1 Market Trends
           10.4.3.2 Market Forecast
    10.5    Middle East and Africa
        10.5.1 Market Trends
        10.5.2 Market Breakup by Country
        10.5.3 Market Forecast
11    SWOT Analysis
    11.1    Overview
    11.2    Strengths
    11.3    Weaknesses
    11.4    Opportunities
    11.5    Threats
12    Value Chain Analysis
13    Porters Five Forces Analysis

    13.1    Overview
    13.2    Bargaining Power of Buyers
    13.3    Bargaining Power of Suppliers
    13.4    Degree of Competition
    13.5    Threat of New Entrants
    13.6    Threat of Substitutes
14    Price Analysis
15    Competitive Landscape

    15.1    Market Structure
    15.2    Key Players
    15.3    Profiles of Key Players
        15.3.1    Baker Hughes Company
           15.3.1.1 Company Overview
           15.3.1.2 Product Portfolio
           15.3.1.3 Financials
           15.3.1.4 SWOT Analysis
        15.3.2    Borets International Ltd.
           15.3.2.1 Company Overview
           15.3.2.2 Product Portfolio
        15.3.3    Canadian Advanced ESP Inc.
           15.3.3.1 Company Overview
           15.3.3.2 Product Portfolio
        15.3.4    ChampionX
           15.3.4.1 Company Overview
           15.3.4.2 Product Portfolio
           15.3.4.3 Financials
        15.3.5    Dover Corporation
           15.3.5.1 Company Overview
           15.3.5.2 Product Portfolio
           15.3.5.3 Financials
           15.3.5.4 SWOT Analysis
        15.3.6    General Electric Company
           15.3.6.1 Company Overview
           15.3.6.2 Product Portfolio
           15.3.6.3 Financials
           15.3.6.4 SWOT Analysis
        15.3.7    Halliburton Company
           15.3.7.1 Company Overview
           15.3.7.2 Product Portfolio
           15.3.7.3 Financials
           15.3.7.4 SWOT Analysis
        15.3.8    JJ Tech
           15.3.8.1 Company Overview
           15.3.8.2 Product Portfolio
        15.3.9    NOV Inc.
           15.3.9.1 Company Overview
           15.3.9.2 Product Portfolio
           15.3.9.3 Financials
           15.3.9.4 SWOT Analysis
        15.3.10    Schlumberger Limited
           15.3.10.1 Company Overview
           15.3.10.2 Product Portfolio
           15.3.10.3 Financials
           15.3.10.4 SWOT Analysis
        15.3.11    Tenaris S.A. (Techint)
           15.3.11.1 Company Overview
           15.3.11.2 Product Portfolio
           15.3.11.3 Financials
        15.3.12    Weatherford International plc
           15.3.12.1 Company Overview
           15.3.12.2 Product Portfolio

List of Figures

Figure 1: Global: Artificial Lift System Market: Major Drivers and Challenges
Figure 2: Global: Artificial Lift System Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Artificial Lift System Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Artificial Lift System Market: Breakup by Lift Type (in %), 2021
Figure 5: Global: Artificial Lift System Market: Breakup by Well Type (in %), 2021
Figure 6: Global: Artificial Lift System Market: Breakup by Mechanism (in %), 2021
Figure 7: Global: Artificial Lift System Market: Breakup by Application (in %), 2021
Figure 8: Global: Artificial Lift System Market: Breakup by Region (in %), 2021
Figure 9: Global: Artificial Lift System (Electric Submersible Pumps (ESP)) Market: Sales Value (in Million US$), 2016 & 2021
Figure 10: Global: Artificial Lift System (Electric Submersible Pumps (ESP)) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 11: Global: Artificial Lift System (Progressing Cavity Pumps (PCP)) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: Global: Artificial Lift System (Progressing Cavity Pumps (PCP)) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: Global: Artificial Lift System (Gas Lift) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Global: Artificial Lift System (Gas Lift) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Global: Artificial Lift System (Rod Lift) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Global: Artificial Lift System (Rod Lift) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Global: Artificial Lift System (Hydraulic Pumps) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Global: Artificial Lift System (Hydraulic Pumps) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: Global: Artificial Lift System (Other Lift Types) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: Global: Artificial Lift System (Other Lift Types) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: Global: Artificial Lift System (Horizontal) Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: Global: Artificial Lift System (Horizontal) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: Global: Artificial Lift System (Vertical) Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: Global: Artificial Lift System (Vertical) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: Global: Artificial Lift System (Gas Assisted) Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: Global: Artificial Lift System (Gas Assisted) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: Global: Artificial Lift System (Pump Assisted) Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: Global: Artificial Lift System (Pump Assisted) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: Global: Artificial Lift System (Offshore) Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: Global: Artificial Lift System (Offshore) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: Global: Artificial Lift System (Onshore) Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: Global: Artificial Lift System (Onshore) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: North America: Artificial Lift System Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: North America: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: United States: Artificial Lift System Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: United States: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: Canada: Artificial Lift System Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: Canada: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: Asia-Pacific: Artificial Lift System Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: Asia-Pacific: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: China: Artificial Lift System Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: China: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: Japan: Artificial Lift System Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: Japan: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: India: Artificial Lift System Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: India: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: South Korea: Artificial Lift System Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: South Korea: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: Australia: Artificial Lift System Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: Australia: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: Indonesia: Artificial Lift System Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: Indonesia: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: Others: Artificial Lift System Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: Others: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 55: Europe: Artificial Lift System Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: Europe: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: Germany: Artificial Lift System Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: Germany: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: France: Artificial Lift System Market: Sales Value (in Million US$), 2016 & 2021
Figure 60: France: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 61: United Kingdom: Artificial Lift System Market: Sales Value (in Million US$), 2016 & 2021
Figure 62: United Kingdom: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 63: Italy: Artificial Lift System Market: Sales Value (in Million US$), 2016 & 2021
Figure 64: Italy: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 65: Spain: Artificial Lift System Market: Sales Value (in Million US$), 2016 & 2021
Figure 66: Spain: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 67: Russia: Artificial Lift System Market: Sales Value (in Million US$), 2016 & 2021
Figure 68: Russia: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 69: Others: Artificial Lift System Market: Sales Value (in Million US$), 2016 & 2021
Figure 70: Others: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 71: Latin America: Artificial Lift System Market: Sales Value (in Million US$), 2016 & 2021
Figure 72: Latin America: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 73: Brazil: Artificial Lift System Market: Sales Value (in Million US$), 2016 & 2021
Figure 74: Brazil: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 75: Mexico: Artificial Lift System Market: Sales Value (in Million US$), 2016 & 2021
Figure 76: Mexico: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 77: Others: Artificial Lift System Market: Sales Value (in Million US$), 2016 & 2021
Figure 78: Others: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 79: Middle East and Africa: Artificial Lift System Market: Sales Value (in Million US$), 2016 & 2021
Figure 80: Middle East and Africa: Artificial Lift System Market: Breakup by Country (in %), 2021
Figure 81: Middle East and Africa: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 82: Global: Artificial Lift System Industry: SWOT Analysis
Figure 83: Global: Artificial Lift System Industry: Value Chain Analysis
Figure 84: Global: Artificial Lift System Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Artificial Lift System Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Artificial Lift System Market Forecast: Breakup by Lift Type (in Million US$), 2022-2027
Table 3: Global: Artificial Lift System Market Forecast: Breakup by Well Type (in Million US$), 2022-2027
Table 4: Global: Artificial Lift System Market Forecast: Breakup by Mechanism (in Million US$), 2022-2027
Table 5: Global: Artificial Lift System Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 6: Global: Artificial Lift System Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 7: Global: Artificial Lift System Market: Competitive Structure
Table 8: Global: Artificial Lift System Market: Key Players

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