Global Artificial Lift Systems Market to Develop at 6.2% CAGR owing to Increasing Deep-water Oil Production
Market Research Reports Search Engine (MRRSE) has announced that its repository now features a report titled “ Artificial Lift Systems Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 – 2020.” The report, by Transparency Market Research, forecasts that the global artificial lift systems market, which in 2013 stood at US$13000 million, will reach US$19806.8 million, thereby expanding at a CAGR of 6.20% from 2014 to 2020.
This market research report on the global artificial lift systems market discusses the key factors that drive this market and the prevailing trends that will have a long term impact on the performance of this market. The main factors that drive the global artificial lift systems market are increasing deep-water oil production and also matured reserves that account for high volumes of crude oil. The decreasing prices of crude oil hampers the growth of this market and it also triggers much volatility in the market. It is anticipated that unconventional gas production will have a positive impact on the performance of the global artificial lift systems market during the forecast period.
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This research report segments the global artificial lift systems market on the basis of type of product and region. The qualitative and the quantitative information presented in this research report is based on primary and secondary sources of information. Much of the market data compiled in this research study is also based on the valuable inputs of industry experts and professionals. Product-wise, the report segments the global artificial lift systems market into plunger lift, gas lift, hydraulic pump, progressive cavity pump, rod lift, and electrical submersible pump. The research report makes use of analytical tools such as the Porter’s five forces analysis and SWOT analysis in order to weigh out the opportunities and the challenges facing the global artificial lift systems market.
With a vast collection of graphs, tables, charts, and diagrams, this market research report throws light on the trends prevailing in the global artificial lift systems market and also highlights the pattern of growth followed by this market over the years. Geographically, this research study segments the global artificial lift systems market into Asia Pacific, North America, Europe, and Rest of the World. Ongoing industry trends indicate that by 2020, North America will be the largest regional player in the global artificial lift systems market. The robust growth of the North America artificial lift systems market can be attributed to rising drilling activities and also the discovery of reserves of shale gas in areas such as Canada and the U.S.
The report offers a comprehensive analysis of the competitive landscape of the global artificial lift systems market by identifying the key companies operating in this market and describing the profiles of each. The prominent players in the global artificial lift systems market are Weatherford International Ltd., Superior Energy Services Inc., Schlumberger Ltd., National Oilwell Varco, Inc., Kudu Industries Inc., Flotek Industries Inc., and Baker Hughes Inc. amongst others.