The global artificial lift market is expected to grow from USD 8,152.49 million 2017 to USD 11,767.55 million by the end of 2024 at a Compound Annual Growth Rate (CAGR) of 5.38%.

"Growing exploration and production (E&P) activities to meet the energy demandis one of the factors largely attributing to the growth of artificial lift market globally"

The factors attributing to the growth of the market are growing exploration and production (e&p) activities to meet the energy demand, increase in production from unconventional oil and gas reserves, and increasing ultra-deep and deepwater activities. However, some factors such as environmental concerns related to artificial lift technologies, and limited labour skills may hinder the market growth. The global artificial lift market is expected to showcase the opportunities such as redevelopment of mature fields, low pressure reservoirs, and increasing adoption of smart artificial lift systems. In the near future, the market may face the possible challenges in the growth due to and application in the horizontal wells. However, the key players in the market are putting regressive efforts to provide innovative offerings and benchmark strategies in the global artificial lift market market.

On the basis of mechanism, the global artificial lift market is studied across Gas Assisted and Pump Assisted.

On the basis of type, the global artificial lift market is studied across Electrical Submersible Pumps, Gas Lift, Progressive Cavity Pumps, and Rod Lift.

On the basis of application, the global artificial lift market is studied across Offshore and Onshore.

On the basis of geography, the global artificial lift market is studied across Americas, (United States, Brazil, Canada, Mexico, and Argentina) Europe, Middle East & Africa, (United Kingdom, Germany, France, Saudi Arabia, United Arab Emirates, Italy, and Russia) and Asia-Pacific (China, Japan, India, and Australia).

"Borets International Limited: The potential growing player for the global artificial lift market"

The key players profiled in the global artificial lift market are Borets International Limited, Dover Corporation, Ebara Corporation, Flotek Industries, Inc., GE Oil & Gas Inc., Halliburton Company, JJ TECH, John Crane Inc., MAN Diesel & Turbo SE, National Oilwell Varco, Inc., Novomet, Schlumberger Limited, Superior Energy Services, Inc., Tenaris S.A., and Weatherford International plc.


The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on sulfuric acid offered by the key players in the global artificial lift market.
2. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and new product developments in the global artificial lift market.
3. Market Development: Provides in-depth information about lucrative emerging markets and analyzes the markets for the global artificial lift market.
4. Market Diversification: Provides detailed information about new products launches, untapped geographies, recent developments, and investments in the global artificial lift market.
5. Competitive Assessment & Intelligence: Provides exhaustive assessment of market shares, strategies, products, and manufacturing capabilities of the leading players in the global artificial lift market.