Report

Artificial Lift Systems Market: Development, Opportunities and Market Outlook (2016-26)

In this age of tremendous industrialization, technology is the great growling engine that runs the contemporary modernization landscape. Newer advancements refine the present industrial standards continuously thereby, improving the efficiency of the industry on the whole. The integral dependence of oil and gas industry on technology makes it absolutely essential to adapt and utilize new technical advancements on a steady pace, to ensure its growth. The growing complexity and reducing sizes in newer reservoirs drilled calls in a need for implementation of latest advancements to maximize hydrocarbon production. Artificial Lift Systems is one such advancement focusing on the increasing hydrocarbon recovery.

Artificial Lift systems are a way to supply energy to the subsurface, so that a drive is generated to push the wellbore fluids to the surface. It is deployed in cases where the reservoir’s natural drive mechanism cannot provide enough energy to deliver the fluids to the surface, thereby, increasing the overall hydrocarbon recovery and reducing the residual oil saturation in the reservoir. It can also be deployed if the production of well is declining, thus it acts as a way to increase the overall well lifespan.

These implementations supplement and suggest a substantial growth in artificial lift market, which had an estimated worth of 7.71 billion dollars in 2016, and is growing at a steady rate of XX% every year. Our extensive and in-depth analysis concludes that the market is booming and suggests that it will eventually reach an approximated net worth of xx billion dollars by 2026.

Technology overview:

The driving principle of artificial lift systems is reduction of wellbore pressure, so that a differential pressure is generated against sandface, thus providing drive for reservoir fluids to flow into the wellbore continuously. This is primarily achieved by two ways which are as follows.

  • By injecting compressed gas
  • By utilization of mechanical means (Sucker Rod Pump, Electrical Submergible Pump, Hydraulic Jet Pump, etc)

There are various types of Artificial Lift Systems which work on the basis of primary principle but follow individual approaches. They are Sucker Rod Pump, Electrical Submergible Pump, Hydraulic Jet Pump, etc.

An in depth-analysis, explanation, functionality and utilization of tools are mentioned in the report.

The primary drivers of the market can be classified on the basis of reduction in reservoir overall sizes, production entering a declination phase, to maximize the exploitation of the well etc. Besides, the significant cost increase of deployment of technology, limited and niche applicability etc. provide some restrains to the market. However, growing need of exploitation of unconventional and difficult to operate wells necessitates the need of implementation of artificial lift systems at some time during the life span of the well, therefore showcasing the growth of the overall market.

Comprehensive competitive analysis and profiles of major market players such General Electric Company, Man Diesel & Turbo SE, Ebara Corporation, Mitsubishi Heavy Industries Compressor Corporation, Atlas CopcoEnergas GmbH, Solar Turbine Inc., Burckhardt Compression Holding AG, Ariel Corporation, Neuman & Esser Group, Hitachi Ltd. etc. is also provided in this report.

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By Location

  • Onshore
  • Offshore

By Nature of Application

  • Mechanical means
  • Use of compressed gas

By Equipment Used

  • Sucker Rod Pump
  • Electrical Submergible Pump
  • Electrical Submergible Pump

By Geography

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa
  • Market overview and forecasting covering Optimistic, Realistic and Pessimistic scenarios (2016-2026)
  • Analysis and study of various services provided by major players active in the Artificial lift systems market
  • Market segmentation based on Location, Nature of Application, Equipment used and Geography
  • Detailed coverage of technology and services involved
  • Technical comparative studies and case analysis
  • Competitive landscape with in depth analysis of the market players’ strategy
  • Infraline’s Techno Managerial edge covering SWOT, TOWS, Porter’s five forces and PESTLE analysis

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