NEW YORK, Aug. 18, 2023 /PRNewswire/ — The artificial lift systems market is to grow by USD 4,103.16 million from 2022 to 2027 and register a CAGR of 6.76%, according to Technavio’s latest market research report estimates. With a focus on identifying dominant industry influencers, Technavio’s reports present a detailed study by the way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. The report is segmented by Type, End-user, and Geography.  North America is estimated to contribute 55% to the growth of the global market during the forecast period. The growth in the region is due to the rising adoption of artificial lift systems and their use in both onshore and offshore oil and gas industries. The dominance of the shale gas industry and the competitiveness of the market in the region are other growth factors. Besides artificial lifts and real-time monitoring can promote the growth of the domestic artificial lift system installation and maintenance market by product and service providers. Hence, these factors are expected to drive market growth in the region during the forecast period. Technavio offers in-depth market insights that assist global businesses to obtain growth opportunities. Read Sample Report

The report also covers the following areas:

• Artificial Lift Systems Market size
• Artificial Lift Systems Market Trends
• Artificial Lift Systems Market industry analysis

The artificial lift systems market is fragmented, and the degree of fragmentation will accelerate. The growing demand for oil and natural gas will offer immense growth opportunities. However, the High maintenance cost of artificial lift systems will hamper the market growth.

Artificial Lift Systems Market 2023-2027: Segmentation

• Type 
• ESP Systems
• RLP Systems
• PCP Systems
• Others
• End-user 
• Onshore Oil Gas Industry
• Offshore Oil Gas Industry
• Geography 
• North America
• Europe
• APAC
• Middle East And Africa
• South America

The ESP systems segment will account for a major share of the market’s growth during the forecast period. There is an increasing preference for ESP systems in major oil-producing countries such as Saudi Arabia, Russia, Canada, Nigeria, and Iraq. This system can be applied in onshore and offshore oil and gas fields which is one of the reasons for its implementation. Additionally, another reason end-user industries prefer ESP systems is that these systems can extract tremendous amounts of oil per day from wells up to 16,000 feet deep. Hence, these factors are expected to drive segment growth during the forecast period.

Artificial Lift Systems Market 2023-2027: Company Analysis and Scope

Some of the major companies in the artificial lift systems market include Baker Hughes Co., ChampionX Corp., General Petroleum Holdings Pty Ltd., Gulf Coast Pump and Supply, Halliburton Co., JJ Tech, Levare International, Liberty Lift Solutions LLC, NOV Inc., Novomet Group, NOW Inc., OiLSERV, PCM Artificial Lift Solutions, Premium Artificial Lift Systems Ltd, Rockwell Automation Inc., Schlumberger Ltd., SSI Artificial Lift, Torqueflow-Sydex Ltd., Valiant Artificial Lift Solutions LLC, and Weatherford International Plc. To help businesses improve their market position, Technavio’s report provides a detailed analysis of around 15+ companies operating in the market. To leverage the current opportunities, market companies must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. Backed with competitive intelligence and benchmarking, our research reports on the artificial lift systems market are designed to provide entry support, customer profile & M&As as well as go-to-market strategy support.

Company Offering

• Baker Hughes Co – The company offers artificial lift systems under the brand name ACE Plus gas handler pumps.
• Halliburton Co – The company offers artificial lift systems such as Corsair motors, hydro helical gas separators, and Hercules horizontal pumping systems.
• JJ Tech – The company offers artificial lift systems such as gas lifts, progressive cavity pumps, and electric submersible pumps.

Artificial Lift Systems Market 2023-2027: MKarket Dynamics

Key Drivers

The growing demand for oil and natural gas is a key factor driving market growth. The growth is due to the industrial and household activities in the developing economies. Various factors such as transportation needs and the rapid increase in world population are significantly boosting the energy needs of these countries. In addition, the demand for oil and natural gas production from mature fields onshore and offshore is also increasing. One of the main reasons for the increase in demand for oil and natural gas from developing countries such as India, China, Malaysia, and Brazil is due to the volatile nature of oil and gas prices. Hence, these factors are expected to drive market growth during the forecast period.

Major Trends- The increasing adaptation to non-conventional energy sources in Europe is a major trend in the market. 

Significant Challenges- The need for high investment in offshore oil and gas operations is a significant challenge restricting market growth. 

Drivers, Trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What’s New?

• Special coverage on the Russia–Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession 
• Global competitiveness and key competitor positions 
• Market presence across multiple geographical footprints – Strong/Active/Niche/Trivial  – buy the report!

Artificial Lift Systems Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist artificial lift systems market growth during the next five years
• Estimation of the artificial lift systems market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the artificial lift systems market
• Analysis of the market’s competitive landscape and detailed information on companies
• Comprehensive details of factors that will challenge the growth of artificial lift systems market companies

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Table of Contents

1 Executive Summary

• 1.1 Market Overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Company Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of companies included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global – Market size and forecast 2022-2027 (USD million)
• Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 (USD million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global artificial lift systems market 2017 – 2021 
• Exhibit 18: Historic Market Size – Data Table on global artificial lift systems market 2017 – 2021 (USD million)

• 4.2 Type Segment Analysis 2017 – 2021 
• Exhibit 19: Historic Market Size – Type Segment 2017 – 2021 (USD million)

• 4.3 End-user Segment Analysis 2017 – 2021 
• Exhibit 20: Historic Market Size – End-user Segment 2017 – 2021 (USD million)

• 4.4 Geography Segment Analysis 2017 – 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 (USD million)

• 4.5 Country Segment Analysis 2017 – 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 (USD million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis – Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Type

• 6.1 Market segments
• Exhibit 30: Chart on Type – Market share 2022-2027 (%)
• Exhibit 31: Data Table on Type – Market share 2022-2027 (%)

• 6.2 Comparison by Type
• Exhibit 32: Chart on Comparison by Type
• Exhibit 33: Data Table on Comparison by Type

• 6.3 ESP systems – Market size and forecast 2022-2027 
• Exhibit 34: Chart on ESP systems – Market size and forecast 2022-2027 (USD million)
• Exhibit 35: Data Table on ESP systems – Market size and forecast 2022-2027 (USD million)
• Exhibit 36: Chart on ESP systems – Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on ESP systems – Year-over-year growth 2022-2027 (%)

• 6.4 RLP systems – Market size and forecast 2022-2027 
• Exhibit 38: Chart on RLP systems – Market size and forecast 2022-2027 (USD million)
• Exhibit 39: Data Table on RLP systems – Market size and forecast 2022-2027 (USD million)
• Exhibit 40: Chart on RLP systems – Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on RLP systems – Year-over-year growth 2022-2027 (%)

• 6.5 PCP systems – Market size and forecast 2022-2027 
• Exhibit 42: Chart on PCP systems – Market size and forecast 2022-2027 (USD million)
• Exhibit 43: Data Table on PCP systems – Market size and forecast 2022-2027 (USD million)
• Exhibit 44: Chart on PCP systems – Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on PCP systems – Year-over-year growth 2022-2027 (%)

• 6.6 Others – Market size and forecast 2022-2027 
• Exhibit 46: Chart on Others – Market size and forecast 2022-2027 (USD million)
• Exhibit 47: Data Table on Others – Market size and forecast 2022-2027 (USD million)
• Exhibit 48: Chart on Others – Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Others – Year-over-year growth 2022-2027 (%)

• 6.7 Market opportunity by Type 
• Exhibit 50: Market opportunity by Type (USD million)
• Exhibit 51: Data Table on Market opportunity by Type (USD million)

7 Market Segmentation by End-user

• 7.1 Market segments
• Exhibit 52: Chart on End-user – Market share 2022-2027 (%)
• Exhibit 53: Data Table on End-user – Market share 2022-2027 (%)

• 7.2 Comparison by End-user 
• Exhibit 54: Chart on Comparison by End-user
• Exhibit 55: Data Table on Comparison by End-user

• 7.3 Onshore oil and gas industry – Market size and forecast 2022-2027 
• Exhibit 56: Chart on Onshore oil and gas industry – Market size and forecast 2022-2027 (USD million)
• Exhibit 57: Data Table on Onshore oil and gas industry – Market size and forecast 2022-2027 (USD million)
• Exhibit 58: Chart on Onshore oil and gas industry – Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Onshore oil and gas industry – Year-over-year growth 2022-2027 (%)

• 7.4 Offshore oil and gas industry – Market size and forecast 2022-2027 
• Exhibit 60: Chart on Offshore oil and gas industry – Market size and forecast 2022-2027 (USD million)
• Exhibit 61: Data Table on Offshore oil and gas industry – Market size and forecast 2022-2027 (USD million)
• Exhibit 62: Chart on Offshore oil and gas industry – Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Offshore oil and gas industry – Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by End-user 
• Exhibit 64: Market opportunity by End-user (USD million)
• Exhibit 65: Data Table on Market opportunity by End-user (USD million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 66: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 67: Chart on Market share by geography 2022-2027 (%)
• Exhibit 68: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 69: Chart on Geographic comparison
• Exhibit 70: Data Table on Geographic comparison

• 9.3 North America – Market size and forecast 2022-2027 
• Exhibit 71: Chart on North America – Market size and forecast 2022-2027 (USD million)
• Exhibit 72: Data Table on North America – Market size and forecast 2022-2027 (USD million)
• Exhibit 73: Chart on North America – Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on North America – Year-over-year growth 2022-2027 (%)

• 9.4 Europe – Market size and forecast 2022-2027 
• Exhibit 75: Chart on Europe – Market size and forecast 2022-2027 (USD million)
• Exhibit 76: Data Table on Europe – Market size and forecast 2022-2027 (USD million)
• Exhibit 77: Chart on Europe – Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on Europe – Year-over-year growth 2022-2027 (%)

• 9.5 APAC – Market size and forecast 2022-2027 
• Exhibit 79: Chart on APAC – Market size and forecast 2022-2027 (USD million)
• Exhibit 80: Data Table on APAC – Market size and forecast 2022-2027 (USD million)
• Exhibit 81: Chart on APAC – Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on APAC – Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa – Market size and forecast 2022-2027 
• Exhibit 83: Chart on Middle East and Africa – Market size and forecast 2022-2027 (USD million)
• Exhibit 84: Data Table on Middle East and Africa – Market size and forecast 2022-2027 (USD million)
• Exhibit 85: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)

• 9.7 South America – Market size and forecast 2022-2027 
• Exhibit 87: Chart on South America – Market size and forecast 2022-2027 (USD million)
• Exhibit 88: Data Table on South America – Market size and forecast 2022-2027 (USD million)
• Exhibit 89: Chart on South America – Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on South America – Year-over-year growth 2022-2027 (%)

• 9.8 US – Market size and forecast 2022-2027 
• Exhibit 91: Chart on US – Market size and forecast 2022-2027 (USD million)
• Exhibit 92: Data Table on US – Market size and forecast 2022-2027 (USD million)
• Exhibit 93: Chart on US – Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on US – Year-over-year growth 2022-2027 (%)

• 9.9 Canada – Market size and forecast 2022-2027 
• Exhibit 95: Chart on Canada – Market size and forecast 2022-2027 (USD million)
• Exhibit 96: Data Table on Canada – Market size and forecast 2022-2027 (USD million)
• Exhibit 97: Chart on Canada – Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Canada – Year-over-year growth 2022-2027 (%)

• 9.10 Spain – Market size and forecast 2022-2027 
• Exhibit 99: Chart on Spain – Market size and forecast 2022-2027 (USD million)
• Exhibit 100: Data Table on Spain – Market size and forecast 2022-2027 (USD million)
• Exhibit 101: Chart on Spain – Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Spain – Year-over-year growth 2022-2027 (%)

• 9.11 China – Market size and forecast 2022-2027 
• Exhibit 103: Chart on China – Market size and forecast 2022-2027 (USD million)
• Exhibit 104: Data Table on China – Market size and forecast 2022-2027 (USD million)
• Exhibit 105: Chart on China – Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on China – Year-over-year growth 2022-2027 (%)

• 9.12 Japan – Market size and forecast 2022-2027 
• Exhibit 107: Chart on Japan – Market size and forecast 2022-2027 (USD million)
• Exhibit 108: Data Table on Japan – Market size and forecast 2022-2027 (USD million)
• Exhibit 109: Chart on Japan – Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on Japan – Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 111: Market opportunity by geography (USD million)
• Exhibit 112: Data Tables on Market opportunity by geography (USD million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 113: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Company Landscape

• 11.1 Overview

• 11.2 Company landscape
• Exhibit 114: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 115: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 116: Impact of key risks on business

12 Company  Analysis

• 12.1 Companies covered
• Exhibit 117: Companies covered

• 12.2 Market positioning of companies 
• Exhibit 118: Matrix on company position and classification

• 12.3 Baker Hughes Co.
• Exhibit 119: Baker Hughes Co. – Overview
• Exhibit 120: Baker Hughes Co. – Business segments
• Exhibit 121: Baker Hughes Co. – Key news
• Exhibit 122: Baker Hughes Co. – Key offerings
• Exhibit 123: Baker Hughes Co. – Segment focus

• 12.4 ChampionX Corp.
• Exhibit 124: ChampionX Corp. – Overview
• Exhibit 125: ChampionX Corp. – Business segments
• Exhibit 126: ChampionX Corp. – Key news
• Exhibit 127: ChampionX Corp. – Key offerings
• Exhibit 128: ChampionX Corp. – Segment focus

• 12.5 Halliburton Co.
• Exhibit 129: Halliburton Co. – Overview
• Exhibit 130: Halliburton Co. – Business segments
• Exhibit 131: Halliburton Co. – Key news
• Exhibit 132: Halliburton Co. – Key offerings
• Exhibit 133: Halliburton Co. – Segment focus

• 12.6 JJ Tech
• Exhibit 134: JJ Tech – Overview
• Exhibit 135: JJ Tech – Product / Service
• Exhibit 136: JJ Tech – Key offerings

• 12.7 Levare International
• Exhibit 137: Levare International – Overview
• Exhibit 138: Levare International – Product / Service
• Exhibit 139: Levare International – Key offerings

• 12.8 Liberty Lift Solutions LLC 
• Exhibit 140: Liberty Lift Solutions LLC – Overview
• Exhibit 141: Liberty Lift Solutions LLC – Product / Service
• Exhibit 142: Liberty Lift Solutions LLC – Key offerings

• 12.9 NOV Inc.
• Exhibit 143: NOV Inc. – Overview
• Exhibit 144: NOV Inc. – Business segments
• Exhibit 145: NOV Inc. – Key offerings
• Exhibit 146: NOV Inc. – Segment focus

• 12.10 Novomet Group
• Exhibit 147: Novomet Group – Overview
• Exhibit 148: Novomet Group – Product / Service
• Exhibit 149: Novomet Group – Key news
• Exhibit 150: Novomet Group – Key offerings

• 12.11 NOW Inc.
• Exhibit 151: NOW Inc. – Overview
• Exhibit 152: NOW Inc. – Business segments
• Exhibit 153: NOW Inc. – Key offerings
• Exhibit 154: NOW Inc. – Segment focus

• 12.12 OiLSERV
• Exhibit 155: OiLSERV – Overview
• Exhibit 156: OiLSERV – Product / Service
• Exhibit 157: OiLSERV – Key offerings

• 12.13 PCM Artificial Lift Solutions 
• Exhibit 158: PCM Artificial Lift Solutions – Overview
• Exhibit 159: PCM Artificial Lift Solutions – Product / Service
• Exhibit 160: PCM Artificial Lift Solutions – Key offerings

• 12.14 Premium Artificial Lift Systems Ltd 
• Exhibit 161: Premium Artificial Lift Systems Ltd – Overview
• Exhibit 162: Premium Artificial Lift Systems Ltd – Product / Service
• Exhibit 163: Premium Artificial Lift Systems Ltd – Key offerings

• 12.15 Rockwell Automation Inc. 
• Exhibit 164: Rockwell Automation Inc. – Overview
• Exhibit 165: Rockwell Automation Inc. – Business segments
• Exhibit 166: Rockwell Automation Inc. – Key news
• Exhibit 167: Rockwell Automation Inc. – Key offerings
• Exhibit 168: Rockwell Automation Inc. – Segment focus

• 12.16 Schlumberger Ltd.
• Exhibit 169: Schlumberger Ltd. – Overview
• Exhibit 170: Schlumberger Ltd. – Business segments
• Exhibit 171: Schlumberger Ltd. – Key news
• Exhibit 172: Schlumberger Ltd. – Key offerings
• Exhibit 173: Schlumberger Ltd. – Segment focus

• 12.17 Weatherford International Plc 
• Exhibit 174: Weatherford International Plc – Overview
• Exhibit 175: Weatherford International Plc – Business segments
• Exhibit 176: Weatherford International Plc – Key news
• Exhibit 177: Weatherford International Plc – Key offerings
• Exhibit 178: Weatherford International Plc – Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 179: Inclusions checklist
• Exhibit 180: Exclusions checklist

• 13.3 Currency conversion rates for USUSD 
• Exhibit 181: Currency conversion rates for USUSD

• 13.4 Research methodology
• Exhibit 182: Research methodology
• Exhibit 183: Validation techniques employed for market sizing
• Exhibit 184: Information sources

• 13.5 List of abbreviations 
• Exhibit 185: List of abbreviations

About US

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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