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Global Artificial Lift Market Research Report- Forecast till 2023
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Global Artificial Lift Market Research Report- Forecast till 2023

Market Research Future Published Cookbook Research Report on Artificial Lift Market. The global market for Artificial Lift is expected to grow at a CAGR of about 7% between 2016 and 2022.

Key Players:

Halliburton (US), Schlumberger (US), Weatherford (US), GE Oil & Gas (US), National Oilwell Varco, Inc. (US), Borets International Limited (UAE), Dover Corporation (US), Flotek Industries, Inc. (US), JJ Tech (US), John Crane Group (US), and AccessESP (US), and OILSERV (UAE), among others.

Market Highlights

The Global Artificial Lift Market is a lucrative market within the oil & gas industry. It is projected to achieve a resilient growth of about 7% CAGR between 2016 and 2022. The upstream oil & gas sector has been experiencing persistent growth challenges; following the decline in the past two years.

Market Research Analysis:

Increasing focus towards production optimization, and growing numbers of mature oil fields. North America is the largest shareholder in the global Artificial Lift Market expected to be the dominant market. Electric submersible pumps contribute a major part in the global artificial lift as compared to other types of lift.

About Market Research Future:

At Market Research Future (MRFR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR) ), and Market Research & Consulting Services.

Artificial lift market has been segmented on the basis of type, mechanism, application, and region. Based on type, the market is classified under the rod lift, ESP, PCP, gas lift, and others. Others include plunger lift and hydraulic pumping. Among these, the market segment is expected to dominate the market as it can be used for a wide range of operating conditions and production rates. Also, it is easy to operate, and it can be used extensively in inclined, deep, and horizontal wells. The artificial lift market is aided and assisted. Pumping assistance, ESP, and PCP pumping systems. Based on application, the artificial lift market is segmented into onshore and offshore. Onshore segment is expected to dominate the global artificial lift market.

Asia Pacific, North America, Europe, the Middle East & Africa, and South America. North America is expected to hold the largest share of the oil production in the region and increasing oil production in the region. US is the key country in the North America region for artificial lifts due to rising production from unconventional sources. In North America, the company is expected to dominate the artificial lift market based on segment type. The Middle East & Africa is projected to grow at a faster rate during the period when it operates in the Middle East and Africa region. In addition to this, the presence of mature fields is more likely to drive the artificial lift market in the Middle East &
The global artificial lift market is expected to expand at ~ 5.63% CAGR during the forecast period.

For more news visit:

https://www.marketwatch.com/press-release/artificial-lift-market---2019-size-share-growth-trends-competitive-analysis-regional-and-global-forecast-to-2023-2019- 07-26


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