Artificial lift pumps are used in oil wells to increase the pressure within the reservoir and encourage oil to move to the surface. When the natural force of the well is not strong enough to push the oil to the surface, an artificial lift pump is employed. Globally, more than 70 percent of oil wells have lost natural pressure and are in their mature phase.
Analysts forecast the Global Artificial Lift Pump Market to grow at a CAGR of 8.95 percent over the period 2015-2019.
The Global Artificial Lift Pumps market includes the following major product segments: ESP Systems, Rod Lift Systems, PCP Systems, Gas Lift Systems, Plunger Lift Systems, Hydraulic Lift Systems, and Others.
Global Artificial Lift Pump Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, Europe, and the APAC and MEA regions; it also covers the Global Artificial Lift Pump market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
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- Baker Hughes
- GE Energy
- Weatherford International
Other Prominent Vendors
- Jsc Alnas
- National Oilwell Varco
- Norris Production Solutions
- Need for High Crude Oil Production from Existing Fields
- Fluctuating Raw Materials Cost
- Advances in Technology
Key Questions Answered in this Report
- What will the market size be in 2019 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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