Artificial Lift Market 2021: Global Industry Demand, Key Findings, Regional Analysis, Key Players Profiles, Future Prospects and Growth Forecasts to 2030

In a recent published report, Kenneth Research has updated the market report for Artificial Lift Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Artificial Lift Market products.

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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

Global Artificial Lift Market is estimated to reach $36.4 Billion by 2024 with CAGR of 10.7% between 2016 and 2024. Artificial lifts are principally used in the oil & gas industry to lift oil production in reservoirs. When the original or natural reservoir energy is not sufficient to push oil to the outward, these artificial lift helps to upsurge the pressure within the reservoir. Most of the oil fields involve this artificial lift to increase their gas wells, productivity, and are benefited by mining liquid off the formation so that gas can move at a higher rate. Each technology in the market has its own advantages and drawbacks leading to different functioning and capital expenses.

Growing population coupled with speedy infrastructure development and industrialization have directed to substantial oil & gas demand and consumption. High R&D expenditure offers solutions for strict environments, managing ultra-low volume and high temperature wells to capitalize on production, improve the lifecycle of the system, and decrease overall system costs, and hence promoting the overall growth of the products in the market. On the other hand, instable crude oil prices are undesirably impacting funds in artificial lift market size due to high capital and apparatus costs. Major players and increasing demand in developing countries are expected to provide new opportunities in the market.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

The global artificial lift market has been categorized as type, and geography. Type segment is further bifurcated into rod lift, electric submersible pump (ESP), progressive cavity pump, (PCP), gas lift and others. By geography, the global artificial lift market is segmented into North America, Europe, Asia-Pacific, and Rest of the world (RoW). The U.S., Canada, and Mexico are covered under North America wherein Europe covers UK, Russia, Norway, and others. Asia-Pacific covers China, India, Indonesia and others. Rest of the World covers Brazil, Venezuela, Saudi Arabia, and others.

Key players in the global artificial Lift market are Baker Hughes Incorporated, GE Energy, Halliburton Company, LLC., Dover Corporation, National Oilwell Varco, Inc., Schlumberger Limited and Weatherford International Ltd., Cameron International, Flotek Industries Inc., and Kudu Industries, among others.

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The key takeaways from the report:
The report will provide a detailed analysis of Global Artificial Lift Market with respect to major segments such as type and geography
The report will include the qualitative and quantitative analysis with market estimation over 2015 – 2024 and compound annual growth rate (CAGR) between 2016 and 2024

Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of Global Artificial Lift Market from 2015 to 2024 has been included in the report

Profile of the key players in the Global Artificial Lift Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Artificial Lift Market:
Type Segment
Rod Lift
Electric Submersible Pump
Gas Lift
Geographical Segment
North America
Asia Pacific
Saudi Arabia

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Table of Contents
Chapter 1 Prefix
1.1 Market Scope
1.2 Report Description
1.3 Research Methodology
1.3.1 Primary Research
1.3.2 Secondary Research
1.3.3 In-house Data Modeling
Chapter 2 Executive Summary
Chapter 3 Market Outline

3.1 Market Inclination, Trend, Outlook and Viewpoint
3.2 Market Share Analysis: Company’s Competitive Scenario
3.3 Market Dynamics
3.3.1 Drivers Impact Analysis
3.3.2 Restraints Impact Analysis
3.3.3 Opportunities
Chapter 4 Global Artificial Lift Market by Type: Market Size and Forecast, 2015 – 2024

4.1 Overview
4.2 Rod Lift
4.2.1 Current Trend and Analysis
4.2.2 Market Size and Forecast
4.3 Electrical Submersible Pump (ESP)
4.3.1 Current Trend and Analysis
4.3.2 Market Size and Forecast
4.4 Progressive Cavity Pump (PCP)
4.4.1 Current Trend and Analysis
4.4.2 Market Size and Forecast
4.5 Gas Lift
4.5.1 Current Trend and Analysis
4.5.2 Market Size and Forecast
4.6 Others
4.6.1 Current Trend and Analysis
4.6.2 Market Size and Forecast

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