Global research artificial lift system market and industry

Artificial lift refers to the mechanical devices that are used to increase the oil recovery when the natural drive is not sufficient to lift the oil. It is the means of overcoming bottom hole pressure so that the well can produce at some desirable rate. Artificial lifts have become an Important part of the production process. The use of modern technologies like horizontal drilling promotes the use of artificial lift. Browse Full Report with TCO: http://www. transparencymarketresearch. Com/artificial- lift-system-market. HTML Artificial lift systems can be segmented based on the type such as Rod lift, Processing Cavity Pump (PC), Gas lift, Electric Submersible Pump (ESP.) and Plunger lift. ESP. is estimated to be the market leader amongst all. Each type Is used for deferent purpose and reservoir conditions. Major components used In artificial lift systems are motor, pump, cable, sucker rod, separator and pump jack among others. Booming oil production in some parts of the world have propelled the growth of artificial lift market.

Middle East region is the fastest growing market for artificial lift as huge oil serves exists there. North America Is the most active region as countries like Canada and Mexico are using artificial lift on their matured fields. European nations such as Russia are also a prospective market for artificial lift as high production is carried out from its matured fields. Of the total well drilled across the world majority of them requires artificial lift to carry out oil recovery. Along the life p of a well, the reservoir pressure decreases and well requires artificial lift to produce the fluids.

Investments carried out by exploration & production companies on development of matured oil fields and unconventional resources are creating a wide scope for artificial lift systems market to grow. Matured oil fields accounts for a very high percentage in global crude oil production. Some of the key players In the manufacturing of artificial lifts are Baker Hughes Inc, GE Energy, SC Ulnas, technical Services LLC, Kudus Industries Inc. , National Oil Vary Inc. , Sulzberger Ltd, Tenants S. A. And Weatherboard International Ltd among others.

This research report analyzes this market depending on Its market segments, major geographies, and current market trends. Geographies analyzed under this research report include North America Asia Pacific 1 OFF Rest of the World This report provides comprehensive analysis of Market growth drivers Factors limiting market growth Current market trends Market structure Market projections for upcoming years This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years.