The
market is poised for steady growth owing to surge in technological advancements
and innovations in order to provide efficient solutions. Recent developments
reduce lifting costs through system components, which resists hostile environment,
improve reliability, and optimize power usage. Industry players invest heavily
in R&D to provide systems that can be easily used in harsh environmental
conditions such as high temperature well and ultra low volume wells.
Saudi Arabia significantly pursues oil & natural gas drilling
programs due to increasing domestic energy consumption. Due to increasing
industrialization and construction activities in India, demand for fuel is
rising at a faster pace, which is expected to drive artificial lift systems
industry growth over the forecast period. African countries continue to drive
oil & gas production, thereby increasing drilling activities.
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Further key
findings from the study suggest:
Electrical submersible pumps segment captured over 50% of the overall
revenue generated in 2014. However, the segment may lose share over the
foreseeable future owing to rise in adoption of rod lifts.
Rod lifts segment is estimated to witness rapid growth over the forecast
period. In 2014, the segment accounted for over 20% of the overall market share
and it is increasingly used method for vertical wells, particularly in the U.S.
High demand for hydraulic fracturing and horizontal drilling systems is
expected to fuel over the next few years. Hydraulic fracturing activities have
led to increased supply of oil & natural gas, especially in North America.
Companies, thereby develop products to serve the hydraulic fracturing segment.
In 2014, North America artificial lift systems market captured a sizeable share
in terms of revenue. This may be attributed to rise in oil and water drilling
activities. Further, prevalence of several oil rigs may also positively impact
regional demand over the forecast period.
On account of high demand for kerosene in local markets, Asia Pacific is
estimated to witness rapid growth over the next seven years. The region
accounted for over 20% of the overall revenue generated in 2014.
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Table Of Content
Chapter 1.
Methodology and Scope
Chapter 2.
Executive Summary
Chapter 3.
Artificial Lift Systems Industry Outlook
Chapter 4.
Artificial Lift Systems Product Outlook
Chapter 5.
Artificial Lift Systems Regional Outlook
Contact
Information:
Ryan
Shaw
Felton Office Plaza,
6265 Highway 9,
Felton, California, 95018,
United States
Phone
Number
1-800-489-3075
Our
Website: http://www.hexareports.com/
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