The artificial lift systems market is forecasted to grow by USD 4621.8 mn during 2023-2028, accelerating at a CAGR of 7.12% during the forecast period. The report on the artificial lift systems market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing demand for oil and natural gas, increase in production activities in deepwater, ultra-deep offshore, and heavy-oil, and enhanced production requirements in mature fields.
Technavio's artificial lift systems market is segmented as below:
Market Scope
Base Year
2024
End Year
2028
Series Year
2024-2028
Growth Momentum
Accelerate
YOY 2024
6.51%
CAGR
7.12%
Incremental Value
$4621.8mn
By Type
ESP systems
RLP systems
PCP systems
Others
By End-user
Onshore oil and gas industry
Offshore oil and gas industry
By Geographical Landscape
North America
Europe
APAC
Middle East and Africa
South America
This study identifies the increasing use of automation and remote technology as one of the prime reasons driving the artificial lift systems market growth during the next few years. Also, increasing subsea operations and increasing adaptation to non-conventional energy sources in Europe will lead to sizable demand in the market.
The report on the artificial lift systems market covers the following areas:
Artificial lift systems market sizing
Artificial lift systems market forecast
Artificial lift systems market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading artificial lift systems market vendors that include Baker Hughes Co., ChampionX Corp., General Petroleum Holdings Pty Ltd., Gulf Coast Pump and Supply, Halliburton Co., JJ Tech, Levare International, Liberty Lift Solutions LLC, NOV Inc., Novomet Group, NOW Inc., OiLSERV, PCM Artificial Lift Solutions, Premium Artificial Lift Systems Ltd., Rockwell Automation Inc., Schlumberger Ltd., SSI Artificial Lift, Torqueflow-Sydex Ltd., Valiant Artificial Lift Solutions LLC, and Weatherford International Plc. Also, the artificial lift systems market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.
Table of Contents
1 Executive Summary
1.1 Market overview
Executive Summary - Chart on Market Overview
Executive Summary - Data Table on Market Overview
Executive Summary - Chart on Global Market Characteristics
Executive Summary - Chart on Market By Geographical Landscape
Executive Summary - Chart on Market Segmentation by Type
Executive Summary - Chart on Market Segmentation by End-user
Executive Summary - Chart on Incremental Growth
Executive Summary - Data Table on Incremental Growth
Executive Summary - Chart on Company Market Positioning
2 Market Landscape
2.1 Market ecosystem
Parent Market
Data Table on - Parent Market
2.2 Market characteristics
Market characteristics analysis
2.3 Value chain analysis
Value Chain Analysis
3 Market Sizing
3.1 Market definition
Offerings of companies included in the market definition
3.2 Market segment analysis
Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
Chart on Global - Market size and forecast 2023-2028 ($ million)
Data Table on Global - Market size and forecast 2023-2028 ($ million)
Chart on Global Market: Year-over-year growth 2023-2028 (%)
Data Table on Global Market: Year-over-year growth 2023-2028 (%)
4 Historic Market Size
4.1 Global Artificial Lift Systems Market 2018 - 2022
Historic Market Size - Data Table on Global Artificial Lift Systems Market 2018 - 2022 ($ million)