Artificial Lift Market Size, Share, Development, Growth and Demand Forecast to 2020 By P&S Market Research
The continuously depleting oil reservoirs, maturing oil & gas fields, and increasing deep and ultradeep water activities, are the key drivers of the global artificial lift market. North America led the global artificial lift market in 2014, and is expected to maintain its dominance in the forecast period. North America artificial lift market is expected to grow, with the highest rate in the forecast period. The dominance of North America artificial lift market over other regions is due to the presence of recoverable shale oil and gas resources, in the region.
The
increasing number of declining reservoirs is boosting the demand for artificial
lift in other regions. The decrease in number of wells, are likely to account
for declination in the reservoir pressure. Since the oil production has peaked
in 33 countries out of 48, including some major producers such as Russia,
Mexico and Kuwait; therefore the increasing demand for artificial lift, is
likely to increase its production.
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The
artificial lift market includes Rod Lift, Electric Submersible Pumps,
Progressing Cavity Pumps, Gas Lift, and Others. Rod Lift accounts for the
highest share globally.
The presence
of recoverable shale oil and gas reservoirs is one of the major opportunities,
for the artificial lift market. Presently, four countries are the major shale
oil and gas producers such as U.S., Canada, China, and Argentina. The U.S. is
the most dominant producer, in both shale oil and gas production, thus leading
to a huge demand for artificial lift in the country. Several other countries
have also started the testing and evaluation of the production potential of
shale formations. For instance, Poland has drilled 43 test wells as of April
2013. Also the other countries, such as Argentina, Australia, China, England,
Mexico, Russia, Saudi Arabia, and Turkey have either started exploration or
have shown interest towards shale formations. The shale revolution is expected
to trigger the demand for artificial lift globally.
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TABLE OF CONTENT
Chapter 1. Research Scope and Methodology
1.1 Market
Definition
1.2 Market Scope
1.2.1 Global
artificial lift market breakdown by type
1.2.2 Global
artificial lift market breakdown by geography
Chapter 2. Executive Summary
2.1 Key Findings
2.2 Research
Summary
Chapter 3. Market Outlook
3.1 Introduction
3.2 Trends in the
Market
3.2.1 Increase in unconventional
oil and gas production
Chapter 4. Global Market Size and Forecasts (2014 –
2020)
4.1 Global
Artificial Lift Market Breakdown by Type
4.2 Global
Artificial Lift Market Breakdown by Region
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