Key Players in artificial lift systems market are Baker Hughes Inc., Borets Company Llc, Halliburton Company, Kudu Industries Llc, National Oilwell Varco Inc.
(PRWEB) September 27, 2014
The report “Artificial Lift Systems Market, by Types (ESP, PCP, Rod Lift), by Component (Pump, Motor, Separator, Cable, Pump Jack, Sucker Rod), by Countries (U.S., Canada, Russia, China, Venezuela) - Trends & Forecast to 2018”, defines and segments the Artificial Lift Systems Market for analysis and projection of the market revenue.
Browse 3 market data tables and 48 figures spread through 137 slides and in-depth TOC on the “Artificial Lift Systems Market Trends & Forecast to 2018”.
Early buyers will receive 10% customization on this report.
Request Customization @ http://www.marketsandmarkets.com/requestCustomization.asp?id=1263
Electric Submersible Pump – The Biggest Component Market of Artificial Lift
The electric submersible pump market is anticipated to be a leader within the artificial lift market with respect to the market revenue. Russia and United States of America have the biggest installed base of ESP systems. The component replacement market represents these countries as the biggest revenue pockets for ESP pump manufacturers. The collective of the ESP pump market in these two countries is estimated to grow at a CAGR of about 10.5% from 2013 to 2018.
U.S. - Largest Replacement Demand for Sucker Rods from the Installed Base of Rod Lift
The U.S. rod lift market, being the biggest market across the world, was accounted for about 50.8% of the global rod lift market in 2012. The market is estimated to grow at a CAGR of 6.7% for the period of 2013 to 2018. U.S. is witnessing high growth in unconventional oil production such as shale oil, tight oil, and growing marginal well count, which supports future demand for rod lifts and its components. The growth in the demand for rod lift installed base provides sustainability to sucker rod industry and with the biggest installed base, U.S. rod lift sucker rod market is expected to show the growth rate of 8.0% for the same period.
The Artificial Lift Systems Market report categorizes the global market of artificial lifts in the oil and gas industry, on the basis of product types, and geography; forecasting revenue and analyzing trends.
With an incessant rise in demand for energy and depleting reserves, the main focus is to explore unconventional resources of hydrocarbons and enhance the recovery of matured wells, which gives an impetus to artificial lifts.Driven by the explorations in deep-water and maturity stage of oilfield shave increased the demand for high productivity rate to recover oil and efficiently at optimal cost.
The lifecycle of a well commences at the Primary recovery, when the difference in natural reservoir pressure and surface is sufficient to lift crude up the well bore.Depending upon reservoir conditions, the natural flow may continue for many years till all the easily accessible hydrocarbons are recovered. As production continues,the output reaches its peak, and thereafter follows a gradual decline.As the pressure inside gradually depletes over time, it necessitates the application of external interventions to sustain productivity, which helps recover approximately 35.0% of the reserves. These interventions range from basic techniques such as injection of water to sophisticated techniques of artificial lifts, as the well moves to the enhanced recovery stage through the Secondary recovery and Improved recovery stages. It is found that, depending on the productivity and complexity, the secondary recovery fields are the most active, and represent a high value artificial lift sector.
Increasing deep & ultra-deep offshore and heavy oil production, enhanced production requirements in mature fields, growing activities of subsea operations, coal bed methane production, and mounting installed base of artificial lifts drive the artificial lift component market. Redevelopment of the old & marginal fields and booming subsea operations promise future growth to artificial lift components manufacturers.
Browse related reports:
Well Intervention Market, by Service Types (Logging & Bottom Hole Survey, Tubing/Packer Failure & Repair, Stimulation, Artificial Lift, Others), Application Areas (Onshore & Offshore), and Geography - Global Trends & Forecast To 2018
MarketsandMarkets is a global market research and consulting company based in the U.S. We publish strategically analyzed market research reports and serve as a business intelligence partner to Fortune 500 companies across the world.
MarketsandMarkets also provides multi-client reports, company profiles, databases, and custom research services. M&M covers thirteen industry verticals, including advanced materials, automotive and transportation, banking and financial services, biotechnology, chemicals, consumer goods, energy and power, food and beverages, industrial automation, medical devices, pharmaceuticals, semiconductor and electronics, and telecommunications and IT.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
North - Dominion Plaza
17304 Preston Road
Suite 800, Dallas, TX 75252
Email: sales (at) MarketsandMarkets (dot) com
Visit MarketsandMarkets Blog @ http://www.marketsandmarketsblog.com/market-reports/energy-and-power