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Global Artificial Lift Market by Type (ESP, PCP, Rod Lift, Gas Lift), Mechanism (Pump Assisted (Positive Displacement, Dynamic Displacement), Gas Assisted), Well Type (Horizontal, Vertical), Application (Onshore, Offshore) and Region - Forecast to 2028

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    Report

  • 261 Pages
  • August 2023
  • Region: Global
  • Markets and Markets
  • ID: 5010929
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Growing Requirement to Maximize Production Potential of Mature Fields

The global artificial lift market is estimated to grow from USD 7.3 Billion in 2023 to USD 9.0 Billion by 2028; it is expected to record a CAGR of 4.4% during the forecast period. The growth is attributed to the factors such as increased upstream activities in the oil & gas industry and increased extraction of heavy oil and shale gas production. Growing oil demand globally has driven the need for enhanced hydrocarbon production and recovery methods such as artificial lift to optimize well performance, resulting in the growth of artificial lift market.

Rod Lift Systems: The largest segment of the artificial lift market, by type

Based on type, the artificial lift market has been split into five types: rod lift systems, electric submersible pumps, progressive cavity pumps, gas lift systems, and others. The rod lift systems segment is expected to be the largest segment during the forecast period as it is a widely used technology for extracting oil. The growth of this segment Is attributed due to several advantages it offers, such as cost-effectiveness, the ability to handle various well conditions, and efficiency in extracting hydrocarbons. The large market share of this segment can also be attributed to the shale developments and redevelopment of mature wells in North America and the Middle East & African regions.

Onshore segment is expected to be the largest segment during the forecast period based on application

By application, the artificial lift market has been segmented into onshore and offshore. The onshore segment is expected to hold the largest market share during the forecast period. The onshore oil & gas industry continues to evolve in North America, and this has resulted in a higher demand for improved operational efficiency to increase production from oil & gas wells. In addition, an increase in onshore shale activities and enhanced oil recovery operations in mature oilfields led to a rise in the demand for artificial lift methods.

By mechanism, the gas-assisted segment is expected to be the second-largest segment during the forecast period

Based on the mechanism, the artificial lift market is segmented into pump-assisted and gas assisted. The gas-assisted segment is expected to be the second-largest segment of the artificial lift market during the forecast period. Gas-assisted artificial lift systems include gas lift and plunger lift systems. A gas lift can assist wells with high gas-to-oil ratios because the injected gas helps lift the heavier hydrocarbons to the surface. Hence, this mechanism is expected to drive the artificial lift market during the forecast period.

Vertical: The largest segment during the forecast period based on well type

Based on well type, the artificial lift market is segmented into vertical and horizontal. The vertical segment is expected to be the largest segment of the artificial lift market during the forecast period. Vertical well drilling is considered a conventional method of oil & gas extraction. Vertical wells can only access oil and natural gas reserves directly below, thus making large fields productive for the effective extraction of hydrocarbons. Currently, most of the vertical wells are mature, and these create a demand for artificial lift operations for maximum recovery.

North America is expected to be the largest region in the artificial lift market

North America is expected to be the largest region in the artificial lift market during the forecast period. Growth is attributed to the rapid increase in upstream and downstream activities and a highly optimistic outlook for the oil & gas industry in the region. Further, according to Energy Information Administration (EIA), the share of horizontal wells rose from 5.4% in 2011 to 18.1% in 2021. This shift from predominantly vertical wells to a higher percentage of horizontal wells has been driven by fracking activities and horizontal drilling operations, which might pose various challenges. Hence, artificial lift systems such as ESPs and PCPs could be more suitable for addressing the challenges and driving the artificial lift market in North America. In addition, the growth in unconventional reserves such as tight oil and shale gas is primarily driving the demand for artificial lift solutions in the US and Canada.

Breakdown of Primaries:

In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information and assess future market prospects. The distribution of primary interviews is as follows:

  • By Company Type: Tier 1 - 65%, Tier 2 - 24%, and Tier 3 - 11%
  • By Designation: C -Level - 30%, Director Level - 25%, and Others - 45%
  • By Region: North America - 35%, Europe - 25%, Asia Pacific - 15%, South America - 10%, Middle East & Africa - 15%

Note: Others include sales managers, engineers, and regional managers.

Note: The tiers of the companies are defined on the basis of their total revenues as of 2022. Tier 1: > USD 1 billion, Tier 2: From USD 500 million to USD 1 billion, and Tier 3: < USD 500 million

The artificial lift market is dominated by a few major players that have a wide regional presence. The leading players in the artificial lift market are SLB (US), Baker Hughes Company (US), Halliburton (US), Weatherford (US), and ChampionX (US). The major strategy adopted by the players includes new product launches, contracts & agreements, partnerships, mergers and acquisitions, and investments & expansions.

Research Coverage:

The report defines, describes, and forecasts the global artificial lift market by type, mechanism, application, well type, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report comprehensively reviews the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the artificial lift market.

Key Benefits of Buying the Report

  • Advancements in upstream activities pertaining to the unconventional oil & gas reserves and growing requirements to maximize production from the mature fields are a few of the key factors driving the artificial lift market. Factors such as a decline in capital expenditures by oilfield operators and service providers restrain the growth of the market. New oilfield discoveries and the adoption of digitization and automation to better analyze the good conditions are expected to present lucrative opportunities for the players operating in the artificial lift market. The transition towards the adoption of renewable energy sources poses a major challenge for the players, especially for emerging players operating in the artificial lift market.
  • Product Development/Innovation: The artificial lift market is witnessing significant product development and innovation, driven by the growing demand for artificial lift systems in the oil & gas industries. Companies are investing in developing advanced artificial lift technologies such as electric submersible pumps, progressive cavity pumps, hydraulic lifts, and plunger lifts.
  • Market Development: Baker Hughes Company acquired AccessESP, one of the leading technological solutions providers for ESP systems. This acquisition broadened the artificial lift portfolio of Baker Hughes Company and improved its position globally.
  • Market Diversification: Unbridled ESP Systems, a subsidiary of ChampionX, introduced the HIGH RISE series pumps for minimizing carbon emissions during ESP operations. This product is used in unconventional well-completion operations.
  • Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players, like include SLB (US), Baker Hughes Company (US), Halliburton (US), Weatherford (US), and ChampionX (US), among others in the artificial lift market.

Table of Contents

1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.2.1 Inclusions and Exclusions
1.3 Study Scope
1.3.1 Markets Covered
Figure 1 Artificial Lift Market Segmentation
1.3.2 Regional Scope
1.3.3 Years Considered
1.4 Currency Considered
1.5 Limitations
1.6 Stakeholders
1.7 Summary of Changes
1.7.1 Impact of Recession

2 Research Methodology
2.1 Research Data
Figure 2 Artificial Lift Market: Research Design
2.2 Market Breakdown and Data Triangulation
Figure 3 Data Triangulation Methodology
2.2.1 Secondary Data
2.2.1.1 Key Data from Secondary Sources
2.2.2 Primary Data
2.2.2.1 Key Data from Primary Sources
2.2.2.2 Breakdown of Primaries
Figure 4 Breakdown of Primaries
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
Figure 5 Artificial Lift Market: Bottom-Up Approach
2.3.2 Top-Down Approach
Figure 6 Artificial Lift Market: Top-Down Approach
2.4 Demand-Side Analysis
2.4.1 Key Influencing Factors/Drivers
2.4.1.1 Well Count
2.4.1.2 Rig Count
Figure 7 Crude Oil Price Vs. Rig Count
2.4.1.3 Production
Figure 8 Operational Well Count Vs. Crude Oil Production
2.4.1.4 Crude Oil Price
Figure 9 Crude Oil Price Trend
2.4.2 Demand-Side Metrics
Figure 10 Metrics Considered to Analyze and Assess Demand for Artificial Lift Systems
2.4.2.1 Assumptions for Demand-Side Analysis
2.5 Supply-Side Analysis
Figure 11 Key Metrics Considered to Assess Supply of Artificial Lift Solutions
Figure 12 Artificial Lift Market: Supply-Side Analysis
2.5.1 Calculations for Supply-Side Analysis
2.5.2 Assumptions for Supply-Side Analysis
2.6 Growth Forecast
2.6.1 Recession Impact

3 Executive Summary
Table 1 Artificial Lift Market Snapshot
Figure 13 Rod Lift Systems Segment to Hold Largest Share of Artificial Lift Market, by Type, in 2028
Figure 14 Pump-Assisted Segment Dominated Artificial Lift Market, by Mechanism, in 2023
Figure 15 Vertical Segment to Lead Artificial Lift Market, by Well Type, in 2028
Figure 16 Onshore Segment Held Larger Share of Artificial Lift Market, by Application, in 2023
Figure 17 North America Dominated Artificial Lift Market, by Region, in 2022

4 Premium Insights
4.1 Attractive Opportunities for Players in Artificial Lift Market
Figure 18 Rising Exploration and Production of Unconventional Oil & Gas Resources to Drive Artificial Lift Market from 2023 to 2028
4.2 Artificial Lift Market, by Region
Figure 19 North America to Register Highest CAGR in Artificial Lift Market During Forecast Period
4.3 Artificial Lift Market in North America, by Application and Country
Figure 20 Onshore Segment and Us Held Largest Shares of Artificial Lift Market in North America in 2022
4.4 Artificial Lift Market, by Type
Figure 21 Rod Lift Systems Held Largest Share of Artificial Lift Market in 2022
4.5 Artificial Lift Market, by Application
Figure 22 Onshore Applications Captured Major Market Share in 2022
4.6 Artificial Lift Market, by Well Type
Figure 23 Vertical Segment Accounted for Larger Share of Artificial Lift Market in 2022
4.7 Artificial Lift Market, by Mechanism
Figure 24 Pump-Assisted Segment Dominated Artificial Lift Market in 2022

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 25 Artificial Lift Market: Drivers, Restraints, Opportunities, and Challenges
5.2.1 Drivers
5.2.1.1 Advancements in Upstream Activities Concerning Unconventional Oil & Gas Reserves
5.2.1.2 Growing Requirement to Maximize Production Potential of Mature Fields
5.2.1.3 Increase in Global Oil Demand
Figure 26 Global Oil Demand, 2019-2028
Table 2 Global Oil Demand (Oecd Vs. Non-Oecd), 2021-2028
5.2.1.4 Rise in Heavy Oil Production
5.2.2 Restraints
5.2.2.1 Decreasing Capex of Oilfield Operators and Upstream Service Providers
Figure 27 Capital Expenditure of Oilfield Operators, 2017-2022
Figure 28 Capital Expenditure of Oil & Gas Service Providers, 2017-2022
5.2.3 Opportunities
5.2.3.1 New Oilfield Discoveries to Promote Upstream Activities
5.2.3.2 Digitalization and Automation to Better Analyze Well Conditions
5.2.4 Challenges
5.2.4.1 Transition Toward Renewable Energy Sources
Figure 29 Renewable Capacity Additions, by Country/Region, 2019-2022
5.2.4.2 Application of Artificial Lift Methods in Horizontal Wells
Table 3 Horizontal Well: Artificial Lift Methods
5.3 Trends/Disruptions Impacting Customer Business
Figure 30 Revenue Shifts and New Revenue Pockets for Artificial Lift Providers
5.4 Supply Chain Analysis
Figure 31 Artificial Lift Market: Supply Chain Analysis
5.4.1 Raw Material Suppliers
5.4.2 Artificial Lift Equipment Manufacturers
5.4.3 Artificial Lift Service Providers
5.4.4 Oilfield Operators
Table 4 Participants and Their Role in Artificial Lift Ecosystem
5.5 Ecosystem Mapping
Figure 32 Ecosystem Analysis
5.6 Technology Analysis
5.7 Key Conferences and Events, 2023-2024
Table 5 Artificial Lift Market: List of Conferences and Events
5.8 Patent Analysis
Table 6 Artificial Lift: Innovations and Patent Registrations, 2018-2023
5.9 Regulatory Framework
5.9.1 Regulatory Bodies, Government Agencies, and Other Organizations
Table 7 North America: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 8 Europe: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 9 Asia-Pacific: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 10 South America: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 11 Middle East & Africa: List of Regulatory Bodies, Government Agencies, and Other Organizations
5.9.2 Standards and Regulations
Table 12 Artificial Lift Market: Standards and Regulations
5.10 Pricing Analysis
5.10.1 Indicative Pricing Analysis, by Type
Table 13 Indicative Pricing Analysis, by Type, 2022 (USD)
5.10.2 Average Pricing Analysis, by Region
Table 14 Average Pricing Analysis, by Region, 2022 (USD)
5.11 Case Study Analysis
5.11.1 Novomet's Impactful Perforation Solution Reduced Power Consumption for Ecuador-Based Oil & Gas Producer
5.11.1.1 Problem Statement
5.11.1.2 Solution
5.12 Trade Analysis
5.12.1 Export Scenario
Table 15 Export Scenario for Hs Code 841360, by Country, 2020-2022 (USD)
Figure 33 Export Data for Hs Code 841360 of Top Five Countries, 2020-2022 (USD)
5.12.2 Import Scenario
Table 16 Import Scenario for Hs Code 841360, by Country, 2020-2022 (USD)
Figure 34 Import Data for Hs Code 841360 of Top Five Countries, 2020-2022 (USD)
5.13 Porter's Five Forces Analysis
Figure 35 Artificial Lift Market: Porter's Five Forces Analysis
Table 17 Artificial Lift Market: Porter's Five Forces Analysis
5.13.1 Threat of New Entrants
5.13.2 Bargaining Power of Buyers
5.13.3 Bargaining Power of Suppliers
5.13.4 Threat of Substitutes
5.13.5 Intensity of Competitive Rivalry
5.14 Key Stakeholders and Buying Criteria
5.14.1 Key Stakeholders in Buying Process
Figure 36 Influence of Stakeholders on Buying Process
Table 18 Influence of Stakeholders on Buying Process (%)
5.14.2 Buying Criteria
Figure 37 Key Buying Criteria for Artificial Lift Types
Table 19 Key Buying Criteria for Artificial Lift Types

6 Artificial Lift Market, by Type
6.1 Introduction
Table 20 Comparison of Artificial Lift Methods
Figure 38 Artificial Lift Market, by Type, 2022
Table 21 Artificial Lift Market, by Type, 2017-2022 (USD Million)
Table 22 Artificial Lift Market, by Type, 2023-2028 (USD Million)
6.2 Rod Lift Systems
6.2.1 Ability to Harness Subsurface Power for Oil Drilling to Drive Market
Table 23 Rod Lift Systems: Artificial Lift Market, by Region, 2017-2022 (USD Million)
Table 24 Rod Lift Systems: Artificial Lift Market, by Region, 2023-2028 (USD Million)
6.3 Electrical Submersible Pumps
6.3.1 Efficient Design and Operational Characteristics to Support Market Growth
Table 25 Electrical Submersible Pumps: Artificial Lift Market, by Region, 2017-2022 (USD Million)
Table 26 Electrical Submersible Pumps: Artificial Lift Market, by Region, 2023-2028 (USD Million)
6.4 Gas Lift Systems
6.4.1 Low Operating Costs to Boost Market
Table 27 Gas Lift Systems: Artificial Lift Market, by Region, 2017-2022 (USD Million)
Table 28 Gas Lift Systems: Artificial Lift Market, by Region, 2023-2028 (USD Million)
6.5 Progressive Cavity Pumps
6.5.1 Benefits of Deployment in Recovery Processes to Propel Market
Table 29 Progressive Cavity Pumps: Artificial Lift Market, by Region, 2017-2022 (USD Million)
Table 30 Progressive Cavity Pumps: Artificial Lift Market, by Region, 2023-2028 (USD Million)
6.6 Others
Table 31 Others: Artificial Lift Market, by Region, 2017-2022 (USD Million)
Table 32 Others: Artificial Lift Market, by Region, 2023-2028 (USD Million)

7 Artificial Lift Market, by Mechanism
7.1 Introduction
Figure 39 Artificial Lift Market, by Mechanism, 2022
Table 33 Artificial Lift Market, by Mechanism, 2017-2022 (USD Million)
Table 34 Artificial Lift Market, by Mechanism, 2023-2028 (USD Million)
7.2 Pump-Assisted
Table 35 Pump-Assisted: Artificial Lift Market, by Type, 2017-2022 (USD Million)
Table 36 Pump-Assisted: Artificial Lift Market, by Type, 2023-2028 (USD Million)
Table 37 Pump-Assisted: Artificial Lift Market, by Region, 2017-2022 (USD Million)
Table 38 Pump-Assisted: Artificial Lift Market, by Region, 2023-2028 (USD Million)
7.2.1 Positive Displacement
7.2.1.1 Capability to Reduce Liquid-Producing Gas Wells to Their Lowest Abandonment Pressure to Drive Market
Table 39 Positive Displacement: Artificial Lift Market for Pump-Assisted Mechanism, by Region, 2017-2022 (USD Million)
Table 40 Positive Displacement: Artificial Lift Market for Pump-Assisted Mechanism, by Region, 2023-2028 (USD Million)
7.2.2 Dynamic Displacement
7.2.2.1 Deployment in Multistage Drilling Operations to Support Market Growth
Table 41 Dynamic Displacement: Artificial Lift Market for Pump-Assisted Mechanism, by Region, 2017-2022 (USD Million)
Table 42 Dynamic Displacement: Artificial Lift Market for Pump-Assisted Mechanism, by Region, 2023-2028 (USD Million)
7.3 Gas-Assisted
7.3.1 Use in Vertical Gas Wells with Minimum Maintenance to Fuel Market
Table 43 Gas-Assisted: Artificial Lift Market, by Region, 2017-2022 (USD Million)
Table 44 Gas-Assisted: Artificial Lift Market, by Region, 2023-2028 (USD Million)

8 Artificial Lift Market, by Well Type
8.1 Introduction
Figure 40 Artificial Lift Market, by Well Type, 2022
Table 45 Artificial Lift Market, by Well Type, 2017-2022 (USD Million)
Table 46 Artificial Lift Market, by Well Type, 2023-2028 (USD Million)
8.2 Horizontal
8.2.1 Increased Oil Field Production and Ability to Access Subsurface Reservoirs to Boost Segment
Table 47 Horizontal: Artificial Lift Market, by Region, 2017-2022 (USD Million)
Table 48 Horizontal: Artificial Lift Market, by Region, 2023-2028 (USD Million)
8.3 Vertical
8.3.1 Cost-Effective Extraction of Hydrocarbons to Drive Segment
Table 49 Vertical: Artificial Lift Market, by Region, 2017-2022 (USD Million)
Table 50 Vertical: Artificial Lift Market, by Region, 2023-2028 (USD Million)

9 Artificial Lift Market, by Application
9.1 Introduction
Figure 41 Artificial Lift Market, by Application, 2022
Table 51 Artificial Lift Market, by Application, 2017-2022 (USD Million)
Table 52 Artificial Lift Market, by Application, 2023-2028 (USD Million)
9.2 Onshore
9.2.1 Redevelopment of Mature Onshore Oilfields and Growing Shale Activities to Drive Market
Table 53 Onshore: Artificial Lift Market, by Region, 2017-2022 (USD Million)
Table 54 Onshore: Artificial Lift Market, by Region, 2023-2028 (USD Million)
9.3 Offshore
9.3.1 Maturing Shallow Oilfields to Propel Offshore Artificial Lift Market
Table 55 Offshore: Artificial Lift Market, by Region, 2017-2022 (USD Million)
Table 56 Offshore: Artificial Lift Market, by Region, 2023-2028 (USD Million)

10 Artificial Lift Market, by Region
10.1 Introduction
Figure 42 Artificial Lift Market in North America to Register Highest CAGR from 2023 to 2028
Figure 43 Artificial Lift Market, by Region, 2022
Table 57 Artificial Lift Market, by Region, 2017-2022 (USD Million)
Table 58 Artificial Lift Market, by Region, 2023-2028 (USD Million)
10.2 North America
Figure 44 North America: Artificial Lift Market Snapshot, 2022
10.2.1 Impact of Recession on Artificial Lift Market in North America
10.2.2 By Type
Table 59 North America: Artificial Lift Market, by Type, 2017-2022 (USD Million)
Table 60 North America: Artificial Lift Market, by Type, 2023-2028 (USD Million)
10.2.3 By Mechanism
Table 61 North America: Artificial Lift Market, by Mechanism, 2017-2022 (USD Million)
Table 62 North America: Artificial Lift Market, by Mechanism, 2023-2028 (USD Million)
10.2.3.1 By Pump-Assisted Mechanism
Table 63 North America: Artificial Lift Market, by Pump-Assisted Mechanism, 2017-2022 (USD Million)
Table 64 North America: Artificial Lift Market, by Pump-Assisted Mechanism, 2023-2028 (USD Million)
10.2.4 By Well Type
Table 65 North America: Artificial Lift Market, by Well Type, 2017-2022 (USD Million)
Table 66 North America: Artificial Lift Market, by Well Type, 2023-2028 (USD Million)
10.2.5 By Application
Table 67 North America: Artificial Lift Market, by Application, 2017-2022 (USD Million)
Table 68 North America: Artificial Lift Market, by Application, 2023-2028 (USD Million)
10.2.6 By Country
Table 69 North America: Artificial Lift Market, by Country, 2017-2022 (USD Million)
Table 70 North America: Artificial Lift Market, by Country, 2023-2028 (USD Million)
10.2.6.1 Us
10.2.6.1.1 Rising Exploration and Production of Shale and Tight Oil Reserves to Propel Market
10.2.6.1.2 By Type
Table 71 US: Artificial Lift Market, by Type, 2017-2022 (USD Million)
Table 72 US: Artificial Lift Market, by Type, 2023-2028 (USD Million)
10.2.6.1.3 By Application
Table 73 US: Artificial Lift Market, by Application, 2017-2022 (USD Million)
Table 74 US: Artificial Lift Market, by Application, 2023-2028 (USD Million)
10.2.6.2 Canada
10.2.6.2.1 Investments in Upstream Activities Majorly Contribute to Market Growth
10.2.6.2.2 By Type
Table 75 Canada: Artificial Lift Market, by Type, 2017-2022 (USD Million)
Table 76 Canada: Artificial Lift Market, by Type, 2023-2028 (USD Million)
10.2.6.2.3 By Application
Table 77 Canada: Artificial Lift Market, by Application, 2017-2022 (USD Million)
Table 78 Canada: Artificial Lift Market, by Application, 2023-2028 (USD Million)
10.2.6.3 Mexico
10.2.6.3.1 Redevelopment of Mature Fields Creating Need for Enhanced Recovery Method to Drive Market
10.2.6.3.2 By Type
Table 79 Mexico: Artificial Lift Market, by Type, 2017-2022 (USD Million)
Table 80 Mexico: Artificial Lift Market, by Type, 2023-2028 (USD Million)
10.2.6.3.3 By Application
Table 81 Mexico: Artificial Lift Market, by Application, 2017-2022 (USD Million)
Table 82 Mexico: Artificial Lift Market, by Application, 2023-2028 (USD Million)
10.3 Europe
Figure 45 Europe: Artificial Lift Market Snapshot, 2022
10.3.1 Impact of Recession on Artificial Lift Market in Europe
10.3.2 By Type
Table 83 Europe: Artificial Lift Market, by Type, 2017-2022 (USD Million)
Table 84 Europe: Artificial Lift Market, by Type, 2023-2028 (USD Million)
10.3.3 By Mechanism
Table 85 Europe: Artificial Lift Market, by Mechanism, 2017-2022 (USD Million)
Table 86 Europe: Artificial Lift Market, by Mechanism, 2023-2028 (USD Million)
10.3.3.1 By Pump-Assisted Mechanism
Table 87 Europe: Artificial Lift Market, by Pump-Assisted Mechanism, 2017-2022 (USD Million)
Table 88 Europe: Artificial Lift Market, by Pump-Assisted Mechanism, 2023-2028 (USD Million)
10.3.4 By Well Type
Table 89 Europe: Artificial Lift Market, by Well Type, 2017-2022 (USD Million)
Table 90 Europe: Artificial Lift Market, by Well Type, 2023-2028 (USD Million)
10.3.5 By Application
Table 91 Europe: Artificial Lift Market, by Application, 2017-2022 (USD Million)
Table 92 Europe: Artificial Lift Market, by Application, 2023-2028 (USD Million)
10.3.6 By Country
Table 93 Europe: Artificial Lift Market, by Country, 2017-2022 (USD Million)
Table 94 Europe: Artificial Lift Market, by Country, 2023-2028 (USD Million)
10.3.6.1 Russia
10.3.6.1.1 Investments in Russian Arctic Offshore and Low-Permeability Reservoirs to Boost Market
10.3.6.1.2 By Type
Table 95 Russia: Artificial Lift Market, by Type, 2017-2022 (USD Million)
Table 96 Russia: Artificial Lift Market, by Type, 2023-2028 (USD Million)
10.3.6.1.3 By Application
Table 97 Russia: Artificial Lift Market, by Application, 2017-2022 (USD Million)
Table 98 Russia: Artificial Lift Market, by Application, 2023-2028 (USD Million)
10.3.6.2 UK
10.3.6.2.1 Redevelopment of Brownfields to Drive Market
10.3.6.2.2 By Type
Table 99 UK: Artificial Lift Market, by Type, 2017-2022 (USD Million)
Table 100 UK: Artificial Lift Market, by Type, 2023-2028 (USD Million)
10.3.6.2.3 By Application
Table 101 UK: Artificial Lift Market, by Application, 2017-2022 (USD Million)
Table 102 UK: Artificial Lift Market, by Application, 2023-2028 (USD Million)
10.3.6.3 Norway
10.3.6.3.1 Rising Offshore Exploration and Production in Norwegian Continental Shelf to Support Market Growth
10.3.6.3.2 By Type
Table 103 Norway: Artificial Lift Market, by Type, 2017-2022 (USD Million)
Table 104 Norway: Artificial Lift Market, by Type, 2023-2028 (USD Million)
10.3.6.3.3 By Application
Table 105 Norway: Artificial Lift Market, by Application, 2017-2022 (USD Million)
Table 106 Norway: Artificial Lift Market, by Application, 2023-2028 (USD Million)
10.3.6.4 Rest of Europe
10.3.6.4.1 By Type
Table 107 Rest of Europe: Artificial Lift Market, by Type, 2017-2022 (USD Million)
Table 108 Rest of Europe: Artificial Lift Market, by Type, 2023-2028 (USD Million)
10.3.6.4.2 By Application
Table 109 Rest of Europe: Artificial Lift Market, by Application, 2017-2022 (USD Million)
Table 110 Rest of Europe: Artificial Lift Market, by Application, 2023-2028 (USD Million)
10.4 Asia-Pacific
10.4.1 Impact of Recession on Artificial Lift Market in Asia-Pacific
10.4.2 By Type
Table 111 Asia-Pacific: Artificial Lift Market, by Type, 2017-2022 (USD Million)
Table 112 Asia-Pacific: Artificial Lift Market, by Type, 2023-2028 (USD Million)
10.4.3 By Mechanism
Table 113 Asia-Pacific: Artificial Lift Market, by Mechanism, 2017-2022 (USD Million)
Table 114 Asia-Pacific: Artificial Lift Market, by Mechanism, 2023-2028 (USD Million)
10.4.3.1 By Pump-Assisted Mechanism
Table 115 Asia-Pacific: Artificial Lift Market, by Pump-Assisted Mechanism, 2017-2022 (USD Million)
Table 116 Asia-Pacific: Artificial Lift Market, by Pump-Assisted Mechanism, 2023-2028 (USD Million)
10.4.4 By Well Type
Table 117 Asia-Pacific: Artificial Lift Market, by Well Type, 2017-2022 (USD Million)
Table 118 Asia-Pacific: Artificial Lift Market, by Well Type, 2023-2028 (USD Million)
10.4.5 By Application
Table 119 Asia-Pacific: Artificial Lift Market, by Application, 2017-2022 (USD Million)
Table 120 Asia-Pacific: Artificial Lift Market, by Application, 2023-2028 (USD Million)
10.4.6 By Country
Table 121 Asia-Pacific: Artificial Lift Market, by Country, 2017-2022 (USD Million)
Table 122 Asia-Pacific: Artificial Lift Market, by Country, 2023-2028 (USD Million)
10.4.6.1 China
10.4.6.1.1 Exploration and Production Activities in Onshore and Offshore Fields to Fuel Market Growth
10.4.6.1.2 By Type
Table 123 China: Artificial Lift Market, by Type, 2017-2022 (USD Million)
Table 124 China: Artificial Lift Market, by Type, 2023-2028 (USD Million)
10.4.6.1.3 By Application
Table 125 China: Artificial Lift Market, by Application, 2017-2022 (USD Million)
Table 126 China: Artificial Lift Market, by Application, 2023-2028 (USD Million)
10.4.6.2 Malaysia
10.4.6.2.1 Rising Deepwater Explorations and Increasing Oil & Gas Production from Existing Fields to Drive Market
10.4.6.2.2 By Type
Table 127 Malaysia: Artificial Lift Market, by Type, 2017-2022 (USD Million)
Table 128 Malaysia: Artificial Lift Market, by Type, 2023-2028 (USD Million)
10.4.6.2.3 By Application
Table 129 Malaysia: Artificial Lift Market, by Application, 2017-2022 (USD Million)
Table 130 Malaysia: Artificial Lift Market, by Application, 2023-2028 (USD Million)
10.4.6.3 India
10.4.6.3.1 Increasing Demand for Energy and Advent of New Technologies for Exploration and Production to Supplement Market Growth
10.4.6.3.2 By Type
Table 131 India: Artificial Lift Market, by Type, 2017-2022 (USD Million)
Table 132 India: Artificial Lift Market, by Type, 2023-2028 (USD Million)
10.4.6.3.3 By Application
Table 133 India: Artificial Lift Market, by Application, 2017-2022 (USD Million)
Table 134 India: Artificial Lift Market, by Application, 2023-2028 (USD Million)
10.4.6.4 Indonesia
10.4.6.4.1 Upstream Investments and Enhanced Oil Recovery Applications to Boost Market
10.4.6.4.2 By Type
Table 135 Indonesia: Artificial Lift Market, by Type, 2017-2022 (USD Million)
Table 136 Indonesia: Artificial Lift Market, by Type, 2023-2028 (USD Million)
10.4.6.4.3 By Application
Table 137 Indonesia: Artificial Lift Market, by Application, 2017-2022 (USD Million)
Table 138 Indonesia: Artificial Lift Market, by Application, 2023-2028 (USD Million)
10.4.6.5 Rest of Asia-Pacific
10.4.6.5.1 By Type
Table 139 Rest of Asia-Pacific: Artificial Lift Market, by Type, 2017-2022 (USD Million)
Table 140 Rest of Asia-Pacific: Artificial Lift Market, by Type, 2023-2028 (USD Million)
10.4.6.5.2 By Application
Table 141 Rest of Asia-Pacific: Artificial Lift Market, by Application, 2017-2022 (USD Million)
Table 142 Rest of Asia-Pacific: Artificial Lift Market, by Application, 2023-2028 (USD Million)
10.5 Middle East & Africa
10.5.1 Impact of Recession on Artificial Lift Market in Middle East & Africa
10.5.2 By Type
Table 143 Middle East & Africa: Artificial Lift Market, by Type, 2017-2022 (USD Million)
Table 144 Middle East & Africa: Artificial Lift Market, by Type, 2023-2028 (USD Million)
10.5.3 By Mechanism
Table 145 Middle East & Africa: Artificial Lift Market, by Mechanism, 2017-2022 (USD Million)
Table 146 Middle East & Africa: Artificial Lift Market, by Mechanism, 2023-2028 (USD Million)
10.5.3.1 By Pump-Assisted Mechanism
Table 147 Middle East & Africa: Artificial Lift Market, by Pump-Assisted Mechanism, 2017-2022 (USD Million)
Table 148 Middle East & Africa: Artificial Lift Market, by Pump-Assisted Mechanism, 2023-2028 (USD Million)
10.5.4 By Well Type
Table 149 Middle East & Africa: Artificial Lift Market, by Well Type, 2017-2022 (USD Million)
Table 150 Middle East & Africa: Artificial Lift Market, by Well Type, 2023-2028 (USD Million)
10.5.5 By Application
Table 151 Middle East & Africa: Artificial Lift Market, by Application, 2017-2022 (USD Million)
Table 152 Middle East & Africa: Artificial Lift Market, by Application, 2023-2028 (USD Million)
10.5.6 By Country
Table 153 Middle East & Africa: Artificial Lift Market, by Country, 2017-2022 (USD Million)
Table 154 Middle East & Africa: Artificial Lift Market, by Country, 2023-2028 (USD Million)
10.5.6.1 UAE
10.5.6.1.1 Employment of Artificial Lift Techniques at Existing Oilfields to Offer Lucrative Opportunities for Market Players
10.5.6.1.2 By Type
Table 155 UAE: Artificial Lift Market, by Type, 2017-2022 (USD Million)
Table 156 UAE: Artificial Lift Market, by Type, 2023-2028 (USD Million)
10.5.6.1.3 By Application
Table 157 UAE: Artificial Lift Market, by Application, 2017-2022 (USD Million)
Table 158 UAE: Artificial Lift Market, by Application, 2023-2028 (USD Million)
10.5.6.2 Kuwait
10.5.6.2.1 Implementation of Eor Techniques and Investments in Development of Oilfields to Boost Market
10.5.6.2.2 By Type
Table 159 Kuwait: Artificial Lift Market, by Type, 2017-2022 (USD Million)
Table 160 Kuwait: Artificial Lift Market, by Type, 2023-2028 (USD Million)
10.5.6.2.3 By Application
Table 161 Kuwait: Artificial Lift Market, by Application, 2017-2022 (USD Million)
Table 162 Kuwait: Artificial Lift Market, by Application, 2023-2028 (USD Million)
10.5.6.3 Saudi Arabia
10.5.6.3.1 Expanding Oil & Gas Industry to Contribute to Market Growth
10.5.6.3.2 By Type
Table 163 Saudi Arabia: Artificial Lift Market, by Type, 2017-2022 (USD Million)
Table 164 Saudi Arabia: Artificial Lift Market, by Type, 2023-2028 (USD Million)
10.5.6.3.3 By Application
Table 165 Saudi Arabia: Artificial Lift Market, by Application, 2017-2022 (USD Million)
Table 166 Saudi Arabia: Artificial Lift Market, by Application, 2023-2028 (USD Million)
10.5.6.4 Angola
10.5.6.4.1 Rising Production from Offshore Fields to Drive Market
10.5.6.4.2 By Type
Table 167 Angola: Artificial Lift Market, by Type, 2017-2022 (USD Million)
Table 168 Angola: Artificial Lift Market, by Type, 2023-2028 (USD Million)
10.5.6.4.3 By Application
Table 169 Angola: Artificial Lift Market, by Application, 2017-2022 (USD Million)
Table 170 Angola: Artificial Lift Market, by Application, 2023-2028 (USD Million)
10.5.6.5 Oman
10.5.6.5.1 New Oilfield Discoveries to Fuel Market Growth
10.5.6.5.2 By Type
Table 171 Oman: Artificial Lift Market, by Type, 2017-2022 (USD Million)
Table 172 Oman: Artificial Lift Market, by Type, 2023-2028 (USD Million)
10.5.6.5.3 By Application
Table 173 Oman: Artificial Lift Market, by Application, 2017-2022 (USD Million)
Table 174 Oman: Artificial Lift Market, by Application, 2023-2028 (USD Million)
10.5.6.6 Nigeria
10.5.6.6.1 Development of Mature Oil & Gas Fields and Increasing Exploration & Production Activities in Deep and Ultra-Deepwater to Boost Market
10.5.6.6.2 By Type
Table 175 Nigeria: Artificial Lift Market, by Type, 2017-2022 (USD Million)
Table 176 Nigeria: Artificial Lift Market, by Type, 2023-2028 (USD Million)
10.5.6.6.3 By Application
Table 177 Nigeria: Artificial Lift Market, by Application, 2017-2022 (USD Million)
Table 178 Nigeria: Artificial Lift Market, by Application, 2023-2028 (USD Million)
10.5.6.7 Rest of Middle East & Africa
10.5.6.7.1 By Type
Table 179 Rest of Middle East & Africa: Artificial Lift Market, by Type, 2017-2022 (USD Million)
Table 180 Rest of Middle East & Africa: Artificial Lift Market, by Type, 2023-2028 (USD Million)
10.5.6.7.2 By Application
Table 181 Rest of Middle East & Africa: Artificial Lift Market, by Application, 2017-2022 (USD Million)
Table 182 Rest of Middle East & Africa: Artificial Lift Market, by Application, 2023-2028 (USD Million)
10.6 South America
10.6.1 Impact of Recession on Artificial Lift Market in South America
10.6.2 By Type
Table 183 South America: Artificial Lift Market, by Type, 2017-2022 (USD Million)
Table 184 South America: Artificial Lift Market, by Type, 2023-2028 (USD Million)
10.6.3 By Mechanism
Table 185 South America: Artificial Lift Market, by Mechanism, 2017-2022 (USD Million)
Table 186 South America: Artificial Lift Market, by Mechanism, 2023-2028 (USD Million)
10.6.3.1 By Pump-Assisted Mechanism
Table 187 South America: Artificial Lift Market, by Pump-Assisted Mechanism, 2017-2022 (USD Million)
Table 188 South America: Artificial Lift Market, by Pump-Assisted Mechanism, 2023-2028 (USD Million)
10.6.4 By Well Type
Table 189 South America: Artificial Lift Market, by Well Type, 2017-2022 (USD Million)
Table 190 South America: Artificial Lift Market, by Well Type, 2023-2028 (USD Million)
10.6.5 By Application
Table 191 South America: Artificial Lift Market, by Application, 2017-2022 (USD Million)
Table 192 South America: Artificial Lift Market, by Application, 2023-2028 (USD Million)
10.6.6 By Country
Table 193 South America: Artificial Lift Market, by Country, 2017-2022 (USD Million)
Table 194 South America: Artificial Lift Market, by Country, 2023-2028 (USD Million)
10.6.6.1 Venezuela
10.6.6.1.1 Presence of Favorable Government Policies to Attract Foreign Investments to Boost Market
10.6.6.1.2 By Type
Table 195 Venezuela: Artificial Lift Market, by Type, 2017-2022 (USD Million)
Table 196 Venezuela: Artificial Lift Market, by Type, 2023-2028 (USD Million)
10.6.6.1.3 By Application
Table 197 Venezuela: Artificial Lift Market, by Application, 2017-2022 (USD Million)
Table 198 Venezuela: Artificial Lift Market, by Application, 2023-2028 (USD Million)
10.6.6.2 Brazil
10.6.6.2.1 Increasing Offshore Exploration and Production Activities to Propel Market
10.6.6.2.2 By Type
Table 199 Brazil: Artificial Lift Market, by Type, 2017-2022 (USD Million)
Table 200 Brazil: Artificial Lift Market, by Type, 2023-2028 (USD Million)
10.6.6.2.3 By Application
Table 201 Brazil: Artificial Lift Market, by Application, 2017-2022 (USD Million)
Table 202 Brazil: Artificial Lift Market, by Application, 2023-2028 (USD Million)
10.6.6.3 Colombia
10.6.6.3.1 Deployment of Advanced Production Technologies Owing to Favorable Regulatory Reforms to Drive Market
10.6.6.3.2 By Type
Table 203 Colombia: Artificial Lift Market, by Type, 2017-2022 (USD Million)
Table 204 Colombia: Artificial Lift Market, by Type, 2023-2028 (USD Million)
10.6.6.3.3 By Application
Table 205 Colombia: Artificial Lift Market, by Application, 2017-2022 (USD Million)
Table 206 Colombia: Artificial Lift Market, by Application, 2023-2028 (USD Million)
10.6.6.4 Ecuador
10.6.6.4.1 Proper Well Completion to Drive Demand for Artificial Lift
10.6.6.4.2 By Type
Table 207 Ecuador: Artificial Lift Market, by Type, 2017-2022 (USD Million)
Table 208 Ecuador: Artificial Lift Market, by Type, 2023-2028 (USD Million)
10.6.6.4.3 By Application
Table 209 Ecuador: Artificial Lift Market, by Application, 2017-2022 (USD Million)
Table 210 Ecuador: Artificial Lift Market, by Application, 2023-2028 (USD Million)
10.6.6.5 Rest of South America
10.6.6.5.1 By Type
Table 211 Rest of South America: Artificial Lift Market, by Type, 2017-2022 (USD Million)
Table 212 Rest of South America: Artificial Lift Market, by Type, 2023-2028 (USD Million)
10.6.6.5.2 By Application
Table 213 Rest of South America: Artificial Lift Market, by Application, 2017-2022 (USD Million)
Table 214 Rest of South America: Artificial Lift Market, by Application, 2023-2028 (USD Million)

11 Competitive Landscape
11.1 Strategies Adopted by Key Players
Table 215 Overview of Strategies Adopted by Key Players in Artificial Lift Market
11.2 Market Share Analysis, 2022
Table 216 Artificial Lift Market: Degree of Competition
Figure 46 Artificial Lift Market Share Analysis, 2022
11.3 Market Evaluation Framework, 2019-2023
Table 217 Market Evaluation Framework, 2019-2023
11.4 Revenue Analysis, 2018-2022
Figure 47 Revenue Analysis for Key Companies in Past Five Years
11.5 Key Company Evaluation Matrix, 2022
11.5.1 Stars
11.5.2 Emerging Leaders
11.5.3 Pervasive Players
11.5.4 Participants
Figure 48 Artificial Lift Market: Key Company Evaluation Matrix, 2022
11.6 Company Footprint
Table 218 Type: Company Footprint
Table 219 Mechanism: Company Footprint
Table 220 Application: Company Footprint
Table 221 Well Type: Company Footprint
Table 222 Region: Company Footprint
11.7 Start-Ups/Small and Medium-Sized Enterprises (Smes) Evaluation Matrix, 2022
11.7.1 Progressive Companies
11.7.2 Responsive Companies
11.7.3 Dynamic Companies
11.7.4 Starting Blocks
Figure 49 Artificial Lift Market: Start-Ups /Smes Evaluation Matrix, 2022
11.8 Competitive Benchmarking
Table 223 Artificial Lift Market: List of Key Start-Ups/Smes
Table 224 Type: Start-Ups/Smes Footprint
Table 225 Mechanism: Start-Ups/Smes Footprint
Table 226 Application: Start-Ups/Smes Footprint
Table 227 Well Type: Start-Ups/Smes Footprint
Table 228 Region: Start-Ups/Smes Footprint
11.9 Competitive Scenarios and Trends
11.9.1 Product Launches
Table 229 Artificial Lift Market: Product Launches, 2019-2023
11.9.2 Deals
Table 230 Artificial Lift Market: Deals, 2019-2023
11.9.3 Others
Table 231 Artificial Lift Market: Others, 2019-2023

12 Company Profiles
(Business Overview, Products/Services/Solutions Offered, Recent Developments, Analyst's View)*
12.1 Key Players
12.1.1 Slb
Table 232 Slb: Company Overview
Figure 50 Slb: Company Snapshot
Table 233 Slb: Products/Services/Solutions Offered
Table 234 Slb: Deals
Table 235 Slb: Others
12.1.2 Halliburton
Table 236 Halliburton: Company Overview
Figure 51 Halliburton: Company Snapshot
Table 237 Halliburton: Products/Services/Solutions Offered
Table 238 Halliburton: Deals
Table 239 Halliburton: Others
12.1.3 Baker Hughes Company
Table 240 Baker Hughes Company: Company Overview
Figure 52 Baker Hughes Company: Company Snapshot
Table 241 Baker Hughes Company: Products/Services/Solutions Offered
Table 242 Baker Hughes Company: Deals
Table 243 Baker Hughes Company: Others
12.1.4 Weatherford
Table 244 Weatherford: Company Overview
Figure 53 Weatherford: Company Snapshot
Table 245 Weatherford: Products/Services/Solutions Offered
Table 246 Weatherford: Product Launches
Table 247 Weatherford: Deals
12.1.5 Championx
Table 248 Championx: Company Overview
Figure 54 Championx: Company Snapshot
Table 249 Championx: Products/Services/Solutions Offered
Table 250 Championx: Product Launches
Table 251 Championx: Deals
12.1.6 Nov Inc.
Table 252 Nov Inc.: Company Overview
Figure 55 Nov Inc.: Company Snapshot
Table 253 Nov Inc.: Products/Services/Solutions Offered
Table 254 Nov Inc.: Product Launches
12.1.7 Tenaris
Table 255 Tenaris: Company Overview
Figure 56 Tenaris: Company Snapshot
Table 256 Tenaris: Products/Services/Solutions Offered
Table 257 Tenaris: Product Launches
Table 258 Tenaris: Deals
Table 259 Tenaris: Others
12.1.8 Distributionnow
Table 260 Distributionnow: Company Overview
Figure 57 Distributionnow: Company Snapshot
Table 261 Distributionnow: Products/Services/Solutions Offered
Table 262 Distributionnow: Deals
12.1.9 Levare
Table 263 Levare: Company Overview
Table 264 Levare: Products/Services/Solutions Offered
Table 265 Levare: Deals
12.1.10 Oilserv
Table 266 Oilserv: Company Overview
Table 267 Oilserv: Products/Services/Solutions Offered
12.1.11 Novomet
Table 268 Novomet: Company Overview
Table 269 Novomet: Products/Services/Solutions Offered
Table 270 Novomet: Deals
12.1.12 Jj Tech
Table 271 Jj Tech: Company Overview
Table 272 Jj Tech: Products/Services/Solutions Offered
12.1.13 Rimera Group
Table 273 Rimera Group: Company Overview
Table 274 Rimera Group: Products/Services/Solutions Offered
Table 275 Rimera Group: Product Launches
Table 276 Rimera Group: Deals
12.1.14 Lufkin
Table 277 Lufkin: Company Overview
Table 278 Lufkin: Products/Services/Solutions Offered
Table 279 Lufkin: Deals
Table 280 Lufkin: Others
12.1.15 Alkhorayef Petroleum
Table 281 Alkhorayef Petroleum: Company Overview
Table 282 Alkhorayef Petroleum: Products/Services/Solutions Offered
12.2 Other Players
12.2.1 National Energy Services Reunited Corp.
12.2.2 Cairn Oil & Gas
12.2.3 Penguin Petroleum Services (P) Limited
12.2.4 Endurance Lift Solutions
12.2.5 Valiant Artificial Lift Solutions
*Details on Business Overview, Products/Services/Solutions Offered, Recent Developments, Analyst's View Might Not be Captured in Case of Unlisted Companies.

13 Appendix
13.1 Insights from Industry Experts
13.2 Discussion Guide
13.3 Knowledgestore: The Subscription Portal
13.4 Customization Options

Executive Summary

Companies Mentioned

  • Alkhorayef Petroleum
  • Baker Hughes Company
  • Cairn Oil & Gas
  • Championx
  • Distributionnow
  • Endurance Lift Solutions
  • Halliburton
  • Jj Tech
  • Levare
  • Lufkin
  • National Energy Services Reunited Corp.
  • Nov Inc.
  • Novomet
  • Oilserv
  • Penguin Petroleum Services (P) Limited
  • Rimera Group
  • Slb
  • Tenaris
  • Valiant Artificial Lift Solutions
  • Weatherford

Table Information

Report AttributeDetails
No. of Pages261
PublishedAugust 2023
Forecast Period2023 - 2028
Estimated Market Value ( USD ) in 2023 $ 7.3 Billion
Forecasted Market Value ( USD ) by 2028 $ 9 Billion
Compound Annual Growth Rate4.4%
Regions CoveredGlobal
No. of Companies Mentioned20

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About the Artificial Lift Market

The Artificial Lift market within the Oil and Gas Exploration and Production industry is a specialized sector that provides solutions to increase the production of oil and gas from wells. It is a technology-driven market that uses a variety of methods to increase the flow of hydrocarbons from the well. These methods include electrical submersible pumps, progressive cavity pumps, gas lift, rod lift, hydraulic pumps, and plunger lift. Artificial Lift systems are designed to optimize production and reduce operating costs. The Artificial Lift market is highly competitive, with a number of companies offering a range of products and services. Some of the major players in the market include Schlumberger, Halliburton, Weatherford International, Baker Hughes, National Oilwell Varco, Dover Corporation, Flotek Industries, and Dover Artificial Lift. Show Less Read more

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