Global Artificial Lift Sales Market Report 2020

Artificial lift is a method used to lower the producing bottomhole pressure (BHP) on the formation to obtain a higher production rate from the well. This can be done with a positive-displacement downhole pump, such as a beam pump or a progressive cavity pump (PCP), to lower the flowing pressure at the pump intake. It also can be done with a downhole centrifugal pump, which could be a part of an electrical submersible pump (ESP) system. Most oil wells require artificial lift at some point in the life of the field, and many gas wells benefit from artificial lift to take liquids off the formation so gas can flow at a higher rate.
Of the different artificial lift technologies, Rod lift is the largest segment in quantity and ESP is the fastest growing and largest revenue segment. Rod lift is expected to continue its dominating position in the next five years due to a global increase field decline and ESP is projected to grow much slower than the last five years as new oil wells are expected to grow quite moderately.

Market Analysis and Insights: Global Artificial Lift Market
The global Artificial Lift market size is projected to reach US$ 10360 million by 2026, from US$ 9821.9 million in 2020, at a CAGR of 0.9% during 2021-2026.

Global Artificial Lift Scope and Market Size
The global Artificial Lift market is segmented by company, region (country), by Type, and by Application. Players, stakeholders, and other participants in the global Artificial Lift market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on sales, revenue and forecast by region (country), by Type and by Application for the period 2015-2026.

Segment by Type, the Artificial Lift market is segmented into
Rod Lift
ESP
PCP
Hydraulic Pumps
Gas Lift
Plunger Lift

Segment by Application, the Artificial Lift market is segmented into
Onshore
Offshore

The Artificial Lift market is analysed and market size information is provided by regions (countries). Segment by Application, the Artificial Lift market is segmented into United States, Europe, China, Japan, Southeast Asia, India and Rest of World.
The report includes region-wise market size for the period 2015-2026. It also includes market size and forecast by players, by Type, and by Application segment in terms of sales and revenue for the period 2015-2026.

Competitive Landscape

and Artificial Lift Market Share Analysis
Artificial Lift market competitive landscape provides details and data information by players. The report offers comprehensive analysis and accurate statistics on revenue by the player for the period 2015-2020. It also offers detailed analysis supported by reliable statistics on revenue (global and regional level) by players for the period 2015-2020. Details included are company description, major business, company total revenue and the sales, revenue generated in Artificial Lift business, the date to enter into the Artificial Lift market, Artificial Lift product introduction, recent developments, etc.

The major vendors covered:
Weatherford
Schlumberger
General Electric
GE(Baker Hughes)
Halliburton
Dover
National Oilwell Varco
Borets
Cameron
Novomet