In Line Process Viscometer Market to hit $225mn by 2023

The global artificial lift systems industry is also remnant of incredible innovations – indeed some of the most recent technological developments in this business vertical border along retrofit capability, smart alarms and real time monitoring. The evolution of multiphase gas handling pump to operate the artificial lift systems continuously has also escalated the popularity of these products, further augmenting the growth of artificial lift systems market.

Elaborating further on the prominence of technology in this vertical, it is prudent to mention the incidence of General Electric Oil & Gas, which in October 2014, launched its next-generation surface control system known as Vector Plus variable speed drive (VSD) for electric submersible pumps (ESPs). Operators using Vector Plus VSD could increase ESP motor speed gradually and adjust ESP speed remotely from the surface with improvised intelligent control capabilities and greater ease of use. General Electric’s Vector Plus vividly signifies the commitment of the company towards artificial lift innovations in the expanding unconventional space.

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Citing yet another incidence of the innovations in artificial lift systems market, in 2016, Tenaris showcased its BlueRod and HolloRod-series in the SPE Artificial Lift Conference and Exhibition. The premium sucker rod, BlueRod, designed for high loads, was touted to ensure excellent field performance and improve the life of rod. The company also discussed the hollow sucker rod from the HolloRod-series which reduced the operations costs, as well as escalated the dependency of progressive cavity pumping (PCP) operations. Advancements such as the aforementioned in equipment will further drive the artificial lift systems market trends.

The global artificial lift systems market has been experiencing a transformational shift in dynamic since the last decade or so. The perception of change can be aptly attributed to the growing number of stripper and marginal wells along with the increasing demand for crude oil. As the impact of technological advancements is felt across the oil industry, in tandem with the rising demand for operational efficiency, artificial lift systems market is expected to traverse alongside a profitable growth path in the years to come.

The positive outlook toward bringing down the cost of oil production along with the escalating demand for petroleum products have a major role to play in the expansion of artificial lift systems industry. Of late, the production and consumption of oil and gas has been on a continuous rise – a factor that would also serve to impel this vertical, especially across Middle Eastern provinces such as Saudi Arabia. Saudi Aramco, the renowned Saudi Arabian Oil Company, for example, has recently suggested plans to assist in compensating for the natural reduction from mature fields by conducting additional drilling at existing fields. The ongoing plans and strategies from the government to raise the production of crude oil will thus augment the regional market share.

Speaking of Saudi Arabia, it is prudent to mention that the region is bound to emerge as one of the most remunerative revenue pockets for artificial lift systems market. The extensive availability of proven oil reservoirs in the region is likely to be a major driving factor for the regional growth. That said, the surging focus in the province toward mature oil fields in tandem with the humongous investments across the upstream sector will also help propel Saudi Arabia artificial lift systems market.

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Halliburton had also introduced a drilling engineering solution (DES) service in 2014, to deliver custom engineered, fully integrated solutions in order to make the best use of well design and placement, from complex environments to high volume wells. DES combined the experience and expertise across various product service of Halliburton like Baroid, Halliburton Drill Bits and Services and Sperry Drilling, and is powered by Landmark Software.

The aforesaid instances rather coherently testify the impact of technological innovations on artificial lift systems market. This has led to several vendors striving to tap technology and bring to the forefront, a spate of advanced lift systems that would resolve major obstacles across drilling and exploration activities. Driven by a highly fierce competitive landscape, in tandem with the rising number of onshore and offshore drilling activities, artificial lift systems market size is expected to be pegged at USD 14 billion by 2024.

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Partial Table of Contents (ToC) of the report:

Report Content

Chapter 1   Methodology & Scope

1.1   Methodology

1.2   Market definitions

1.3   Market estimation & forecast parameters

1.4   Data Sources

1.4.1    Primary

1.4.2    Secondary

1.4.2.1   Paid Sources

1.4.2.2   Public Sources

Chapter 2   Executive Summary

2.1   Artificial lift systems industry 3600 synopsis, 2013 – 2024

2.1.1    Business trends

2.1.2    Technology trends

2.1.3    Application trends

2.1.4    Regional trends

Chapter 3   Artificial Lift Systems Industry Insights

3.1   Industry segmentation

3.2   Industry landscape, 2013 – 2024 (USD Million)

3.3   Industry ecosystem analysis

3.3.1    Vendor matrix

3.4   Innovation and sustainability

3.4.1    General Electric

3.4.2    Tenaris

3.4.3    National Oilwell Varco

3.4.4    Schlumberger

3.4.5    Other innovations

3.5   Regulatory landscape

3.5.1    International standards

3.5.1.1   ISO 15551-1:2015

3.5.1.2   ISO 15136-1:2009

3.5.2    U.S.

3.5.3    Middle East

3.5.3.1   Oman

3.5.3.2   Iran

3.5.3.3   UAE

3.5.3.4   Qatar

3.5.3.5   Iraq

3.5.4    European Union (EU)

3.5.5    European Committee for Standardization (CEN)

3.6   ALS well count trend, by region (2013-2016)

3.6.1    North America

3.6.2    Europe

3.6.3    Asia Pacific

3.6.4    MEA

3.6.5    Latin America

3.7   Active ALS well count share, by leading players (2016)

3.8   Technology landscape

3.8.1    Electric submersible pump

3.8.2    Rod lift

3.8.3    Progressive cavity pump

3.8.4    Gas lift

3.8.5    Hydraulic pumps

3.9   Artificially lifted vs. naturally flowing producing oil wells (%)

3.10   Selection criteria of artificial lift method

3.10.1    Electric submersible pump

3.10.2    Rod lift

3.10.3    Progressive cavity pump

3.10.4    Gas lift

3.10.5    Hydraulic pumps

3.11   PCP lifecycle cost analysis

3.12   Industry impact forces

3.12.1    Growth drivers

3.12.1.1   Increasing number of matured oil fields

3.12.1.2   Shifting trends toward unconventional wells

3.12.1.3   Increasing subsea production

3.12.1.4   Growing demand for crude oil

3.12.1.5   Increased government focus toward development of mature fields

3.12.2    Industry pitfalls and challenges

3.12.2.1   Geopolitical instability

3.12.2.2   Lack of operational expertise & high capital investment

3.13   Growth potential analysis

3.14   Porter’s Analysis

3.15   Company landscape, 2017

3.15.1    ALS market share

3.15.2    Global ESP market share, by company

3.15.2.1   Regional ESP market share, by company

3.15.2.1.1 … North America & Europe

3.15.2.1.2 … Russia & CIS

3.15.2.1.3 … South & Central America

3.15.2.1.4 … Middle East & North Africa

3.15.2.1.5 … Others

3.15.3    Mergers & Acquisitions

3.15.4    Strategy Dashboard

3.15.4.1   Schlumberger

3.15.4.1.1    Mergers & acquisition

3.15.4.1.2    Investment

3.15.4.1.3    Technological advancement

3.15.4.2   GE

3.15.4.2.1    Overseas expansion

3.15.4.2.2    Digitalization strategy

3.15.4.2.3    Mergers & acquisitions

3.15.4.3   Halliburton

3.15.4.3.1    Slashing cost

3.15.4.3.2    Efficiency gains

3.15.4.3.3    Controlling risk

3.15.4.4   Borets International Limited

3.15.4.4.1    Overseas expansion

3.15.4.4.2    New Product Launch

3.15.4.5   Dover Corporation

3.15.4.5.1    Overseas expansion

3.16   PESTEL Analysis

Chapter 4   Artificial Lift Systems Market, By Technology

4.1   Global artificial lift systems by technology market share, 2016 & 2024

4.2   Progressive Cavity Pumps

4.2.1    Global market from progressive cavity pumps, 2013 – 2024

4.2.2    Global market from progressive cavity pumps, by region, 2013 – 2024, (USD Million)

4.3   Electrical Submersible Pumps

4.3.1    Global market from electrical submersible pumps, 2013 – 2024

4.3.2    Global market from electrical submersible pumps, by region, 2013 – 2024, (USD Million)

4.4   Gas Lift

4.4.1    Global market from gas lifts, 2013 – 2024

4.4.2    Global market from gas lifts, by region, 2013 – 2024, (USD Million)

4.5   Rod Lift

4.5.1    Global market from rod lift, 2013 – 2024

4.5.2    Global market from rod lift, by region, 2013 – 2024, (USD Million)

4.6   Hydraulic Pumps

4.6.1    Global market from hydraulic pumps, 2013 – 2024

4.6.2    Global market from hydraulic pumps, by region, 2013 – 2024, (USD Million)

4.7   Others

4.7.1    Global market from others, 2013 – 2024

4.7.2    Global market from others, by region, 2013 – 2024, (USD Million)

Chapter 5   Artificial Lift System Market, By Application

5.1   Global artificial lift systems by application market share, 2016 & 2024

5.2   Onshore

5.2.1    Global market from onshore, 2013 – 2024

5.2.2    Global market from onshore, by region, 2013 – 2024, (USD Million)

5.3   Offshore

5.3.1    Global market from offshore, 2013 – 2024

5.3.1    Global market from offshore, by region, 2013 – 2024, (USD Million)

Chapter 6   Artificial Lift Systems Market, By Region

6.1   Global artificial lift systems by regional market share, 2016 & 2024

6.2   North America

6.2.1    North America market, 2013-2024

6.2.2    North America market, by technology, 2013 – 2024

6.2.3    North America market, by application, 2013 – 2024

6.2.4    U.S.

6.2.4.1   U.S. market, 2013-2024

6.2.4.2   U.S. market, by technology, 2013 – 2024

6.2.4.3   U.S. market, by application, 2013 – 2024

6.2.5    Canada

6.2.5.1   Canada market, 2013-2024

6.2.5.2   Canada market, by technology, 2013 – 2024

6.2.5.3   Canada market, by application, 2013 – 2024

6.3   Europe

6.3.1    Europe market, 2013-2024

6.3.2    Europe market, by technology, 2013 – 2024

6.3.3    Europe market, by application, 2013 – 2024

6.3.4    UK

6.3.4.1   UK market, 2013-2024

6.3.4.2   UK market, by technology, 2013 – 2024

6.3.4.3   UK market, by application, 2013 – 2024

6.3.5    Norway

6.3.5.1   Norway market, 2013-2024

6.3.5.2   Norway market, by technology, 2013 – 2024

6.3.5.3   Norway market, by application, 2013 – 2024

6.3.6    Netherlands

6.3.6.1   Netherlands market, 2013-2024

6.3.6.2   Netherlands market, by technology, 2013 – 2024

6.3.6.3   Netherlands market, by application, 2013 – 2024

6.3.7    CIS & Eurasia

6.3.7.1   CIS & Eurasia market, 2013-2024

6.3.7.2   CIS & Eurasia market, by technology, 2013 – 2024

6.3.7.3   CIS & Eurasia market, by application, 2013 – 2024

6.3.8    Russia

6.3.8.1   Russia market, 2013-2024

6.3.8.2   Russia market, by technology, 2013 – 2024

6.3.8.3   Russia market, by application, 2013 – 2024

6.3.9    Kazakhstan

6.3.9.1   Kazakhstan market, 2013-2024

6.3.9.2   Kazakhstan market, by technology, 2013 – 2024

6.3.9.3   Kazakhstan market, by application, 2013 – 2024

6.3.10    Turkmenistan

6.3.10.1   Turkmenistan market, 2013-2024

6.3.10.2   Turkmenistan market, by technology, 2013 – 2024

6.3.10.3   Turkmenistan market, by application, 2013 – 2024

6.3.11    Azerbaijan

6.3.11.1   Azerbaijan market, 2013-2024

6.3.11.2   Azerbaijan market, by technology, 2013 – 2024

6.3.11.3   Azerbaijan market, by application, 2013 – 2024

6.3.12    Ukraine

6.3.12.1   Ukraine market, 2013-2024

6.3.12.2   Ukraine market, by technology, 2013 – 2024

6.3.12.3   Ukraine market, by application, 2013 – 2024

6.4   Asia Pacific

6.4.1    Asia Pacific market, 2013-2024

6.4.2    Asia Pacific market, by technology, 2013 – 2024

6.4.3    Asia Pacific market, by application, 2013 – 2024

6.4.4    China

6.4.4.1   China market, 2013-2024

6.4.4.2   China market, by technology, 2013 – 2024

6.4.4.3   China market, by application, 2013 – 2024

6.4.5    India

6.4.5.1   India market, 2013-2024

6.4.5.2   India market, by technology, 2013 – 2024

6.4.5.3   India market, by application, 2013 – 2024

6.4.6    Indonesia

6.4.6.1   Indonesia market, 2013-2024

6.4.6.2   Indonesia market, by technology, 2013 – 2024

6.4.6.3   Indonesia market, by application, 2013 – 2024

6.4.7    Thailand

6.4.7.1   Thailand market, 2013-2024

6.4.7.2   Thailand market, by technology, 2013 – 2024

6.4.7.3   Thailand market, by application, 2013 – 2024

6.4.8    Malaysia

6.4.8.1   Malaysia market, 2013-2024

6.4.8.2   Malaysia market, by technology, 2013 – 2024

6.4.8.3   Malaysia market, by application, 2013 – 2024

6.5   Middle East & Africa (MEA)

6.5.1    MEA market, 2013-2024

6.5.2    MEA market, by technology, 2013 – 2024

6.5.3    MEA market, by application, 2013 – 2024

6.5.4    Iran

6.5.4.1   Iran market, 2013-2024

6.5.4.2   Iran market, by technology, 2013 – 2024

6.5.4.3   Iran market, by application, 2013 – 2024

6.5.5    Iraq

6.5.5.1   Iraq market, 2013-2024

6.5.5.2   Iraq market, by technology, 2013 – 2024

6.5.5.3   Iraq market, by application, 2013 – 2024

6.5.6    Turkey

6.5.6.1   Turkey market, 2013-2024

6.5.6.2   Turkey market, by technology, 2013 – 2024

6.5.6.3   Turkey market, by application, 2013 – 2024

6.5.7    Kuwait

6.5.7.1   Kuwait market, 2013-2024

6.5.7.2   Kuwait market, by technology, 2013 – 2024

6.5.7.3   Kuwait market, by application, 2013 – 2024

6.5.8    Oman

6.5.8.1   Oman market, 2013-2024

6.5.8.2   Oman market, by technology, 2013 – 2024

6.5.8.3   Oman market, by application, 2013 – 2024

6.5.9    Saudi Arabia

6.5.9.1   Saudi Arabia market, 2013-2024

6.5.9.2   Saudi Arabia market, by technology, 2013 – 2024

6.5.9.3   Saudi Arabia market, by application, 2013 – 2024

6.5.10    UAE

6.5.10.1   UAE market, 2013-2024

6.5.10.2   UAE market, by technology, 2013 – 2024

6.5.10.3   UAE market, by application, 2013 – 2024

6.5.11    Algeria

6.5.11.1   Algeria market, 2013-2024

6.5.11.2   Algeria market, by technology, 2013 – 2024

6.5.11.3   Algeria market, by application, 2013 – 2024

6.5.12    Angola

6.5.12.1   Angola market, 2013-2024

6.5.12.2   Angola market, by technology, 2013 – 2024

6.5.12.3   Angola market, by application, 2013 – 2024

6.5.13    Nigeria

6.5.13.1   Nigeria market, 2013-2024

6.5.13.2   Nigeria market, by technology, 2013 – 2024

6.5.13.3   Nigeria market, by application, 2013 – 2024

6.6   Latin America

6.6.1    Latin America market, 2013-2024

6.6.2    Latin America market, by technology, 2013 – 2024

6.6.3    Latin America market, by application, 2013 – 2024

6.6.4    Brazil

6.6.4.1   Brazil market, 2013-2024

6.6.4.2   Brazil market, by technology, 2013 – 2024

6.6.4.3   Brazil market, by application, 2013 – 2024

6.6.5    Argentina

6.6.5.1   Argentina market, 2013-2024

6.6.5.2   Argentina market, by technology, 2013 – 2024

6.6.5.3   Argentina market, by application, 2013 – 2024

6.6.6    Venezuela

6.6.6.1   Venezuela market, 2013-2024

6.6.6.2   Venezuela market, by technology, 2013 – 2024

6.6.6.3   Venezuela market, by application, 2013 – 2024

6.6.7    Mexico

6.6.7.1   Mexico market, 2013-2024

6.6.7.2   Mexico market, by technology, 2013 – 2024

6.6.7.3   Mexico market, by application, 2013 – 2024

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