Product Code: PM2724
The global artificial lift market size is expected to reach USD 10,984.71 Million by 2032, according to a new study by Polaris Market Research. The report "Artificial Lift Market Share, Size, Trends, Industry Analysis Report, By Mechanism (Pump Assisted, Gas Assisted); By Type; By Well Type; By Application; By Region; Segment Forecast, 2024 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
New deep-water and ultra-deep-water development projects are significant drivers of the artificial lift market. These projects involve drilling in water depths exceeding 500 meters and necessitate advanced artificial lift systems to extract hydrocarbons from deep reservoirs. As conventional oil and gas reserves deplete, deep-water and ultra-deep-water projects are gaining popularity, offering the potential for significant hydrocarbon reserves previously considered uneconomical to extract. Artificial lift systems are crucial in these projects due to the lower pressure of hydrocarbons in deep reservoirs, requiring artificial pressure to lift them to the surface.
Moreover, the extreme conditions of deep-water and ultra-deep-water environments pose challenges for installing and maintaining artificial lift systems, demanding highly specialized equipment and expertise. With fewer easily accessible oil fields and maturing production from existing basins, the development of deep-water reserves has become increasingly vital.
The growing exploration and production of unconventional oil and gas resources, along with the increasing shale gas production in developing economies, are driving the expansion of the artificial lift market. The artificial lift method is employed to decrease the bottom hole pressure in order to enhance the production rate from a well. This is typically achieved using a positive-displacement downhole pump to reduce the flowing pressure at the pump intake. In situations where the reservoir's natural drive energy is insufficient to bring the oil to the surface, mechanical devices or other methods are used to increase production. Artificial lift methods play a crucial role in boosting production and recovery by facilitating the movement of oil to the surface.
Artificial Lift Market Report Highlights
The pump-assisted segment, comprising positive and dynamic displacement pumps, is anticipated to dominate the market during the forecast period. This is primarily attributed to the rising uptake of electric submersible and progressive cavity pumps.
The gas lift systems segment is expected to experience significant growth in the coming years. Gas lift is an artificial lift technique that involves injecting compressed gas into the production fluid to decrease the density of the combined fluids.
The artificial lift market in North America ranks among the world's largest, propelled by the significant contributions of the United States and Canada. This market is primarily fueled by the escalating need for oil and gas, particularly from shale formations.
The global key market players include Borets International Limited, Baker Hughes Company, Dover Corporation, Halliburton, JJ Tech (J&J Technical Services, LLC), National Oilwell Varco Inc, Novomet, OiLSERV, Schlumberger Limited, Weatherford, etc.
Polaris Market Research has segmented the artificial lift market report based on type, product, end-use, and region:
Artificial Lift, Mechanism Outlook (Revenue - USD Million, 2019 - 2032)
- Pump Assisted
- Positive
- Dynamic
- Gas Assisted
Artificial Lift, Type Outlook (Revenue - USD Million, 2019 - 2032)
- Rod Lift
- Electric Submersible Pump
- Progressive Cavity Pump
- Gas Lift Systems
- Others
Artificial Lift, Well Type Outlook (Revenue - USD Million, 2019 - 2032)
Artificial Lift, Application Outlook (Revenue - USD Million, 2019 - 2032)
Artificial Lift, Regional Outlook (Revenue - USD Million, 2019 - 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Austria
- Netherlands
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Australia
- Rest of APAC
- Latin America
- Argentina
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
- Rest of MEA
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Artificial Lift Market Insights
- 4.1. Artificial Lift - Industry Snapshot
- 4.2. Artificial Lift Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Increasing Drilling Activities
- 4.2.1.2. New Deepwater and Ultra-Deep Water Development Projects
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Sustained Low Oil & Gas Prices
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTLE Analysis
- 4.5. Artificial Lift Industry Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Artificial Lift Market, by Mechanism
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Artificial Lift Market, by Mechanism, 2019-2032 (USD Million)
- 5.3. Pump Assisted
- 5.3.1. Global Artificial Lift Market, by Pump Assisted, by Region, 2019-2032 (USD Million)
- 5.3.2. Positive
- 5.3.2.1. Global Artificial Lift Market, by Positive, by Region, 2019-2032 (USD Million)
- 5.3.3. Dynamic
- 5.3.3.1. Global Artificial Lift Market, by Dynamic, by Region, 2019-2032 (USD Million)
- 5.4. Gas Assisted
- 5.4.1. Global Artificial Lift Market, by Gas Assisted, by Region, 2019-2032 (USD Million)
6. Global Artificial Lift Market, by Application
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Artificial Lift Market, by Application, 2019-2032 (USD Million)
- 6.3. Onshore
- 6.3.1. Global Artificial Lift Market, by Onshore, by Region, 2019-2032 (USD Million)
- 6.4. Offshore
- 6.4.1. Global Artificial Lift Market, by Offshore, by Region, 2019-2032 (USD Million)
7. Global Artificial Lift Market, by Well Type
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global Artificial Lift Market, by Well Type, 2019-2032 (USD Million)
- 7.3. Horizontal
- 7.3.1. Global Artificial Lift Market, by Horizontal, by Region, 2019-2032 (USD Million)
- 7.4. Vertical
- 7.4.1. Global Artificial Lift Market, by Vertical, by Region, 2019-2032 (USD Million)
8. Global Artificial Lift Market, by Type
- 8.1. Key Findings
- 8.2. Introduction
- 8.2.1. Global Artificial Lift Market, by Type, 2019-2032 (USD Million)
- 8.3. Rod Lift
- 8.3.1. Global Artificial Lift Market, by Rod Lift, by Region, 2019-2032 (USD Million)
- 8.4. Electric Submersible Pump
- 8.4.1. Global Artificial Lift Market, by Electric Submersible Pump, by Region, 2019-2032 (USD Million)
- 8.5. Progressive Cavity Pump
- 8.5.1. Global Artificial Lift Market, by Progressive Cavity Pump, by Region, 2019-2032 (USD Million)
- 8.6. Gas Lift Systems
- 8.6.1. Global Artificial Lift Market, by Gas Lift Systems, by Region, 2019-2032 (USD Million)
- 8.7. Others
- 8.7.1. Global Artificial Lift Market, by Others, by Region, 2019-2032 (USD Million)
9. Global Artificial Lift Market, by Geography
- 9.1. Key findings
- 9.2. Introduction
- 9.2.1. Artificial Lift Market Assessment, By Geography, 2019-2032 (USD Million)
- 9.3. Artificial Lift Market - North America
- 9.3.1. North America: Artificial Lift Market, by Mechanism, 2019-2032 (USD Million)
- 9.3.2. North America: Artificial Lift Market, by Type, 2019-2032 (USD Million)
- 9.3.3. North America: Artificial Lift Market, by Application, 2019-2032 (USD Million)
- 9.3.4. North America: Artificial Lift Market, by Well Type, 2019-2032 (USD Million)
- 9.3.5. Artificial Lift Market - U.S.
- 9.3.5.1. U.S.: Artificial Lift Market, by Mechanism, 2019-2032 (USD Million)
- 9.3.5.2. U.S.: Artificial Lift Market, by Type, 2019-2032 (USD Million)
- 9.3.5.3. U.S.: Artificial Lift Market, by Application, 2019-2032 (USD Million)
- 9.3.5.4. U.S.: Artificial Lift Market, by Well Type, 2019-2032 (USD Million)
- 9.3.6. Artificial Lift Market - Canada
- 9.3.6.1. Canada: Artificial Lift Market, by Mechanism, 2019-2032 (USD Million)
- 9.3.6.2. Canada: Artificial Lift Market, by Type, 2019-2032 (USD Million)
- 9.3.6.3. Canada: Artificial Lift Market, by Application, 2019-2032 (USD Million)
- 9.3.6.4. Canada: Artificial Lift Market, by Well Type, 2019-2032 (USD Million)
- 9.4. Artificial Lift Market - Europe
- 9.4.1. Europe: Artificial Lift Market, by Mechanism, 2019-2032 (USD Million)
- 9.4.2. Europe: Artificial Lift Market, by Type, 2019-2032 (USD Million)
- 9.4.3. Europe: Artificial Lift Market, by Application, 2019-2032 (USD Million)
- 9.4.4. Europe: Artificial Lift Market, by Well Type, 2019-2032 (USD Million)
- 9.4.5. Artificial Lift Market - UK
- 9.4.5.1. UK: Artificial Lift Market, by Mechanism, 2019-2032 (USD Million)
- 9.4.5.2. UK: Artificial Lift Market, by Type, 2019-2032 (USD Million)
- 9.4.5.3. UK: Artificial Lift Market, by Application, 2019-2032 (USD Million)
- 9.4.5.4. UK: Artificial Lift Market, by Well Type, 2019-2032 (USD Million)
- 9.4.6. Artificial Lift Market - France
- 9.4.6.1. France: Artificial Lift Market, by Mechanism, 2019-2032 (USD Million)
- 9.4.6.2. France: Artificial Lift Market, by Type, 2019-2032 (USD Million)
- 9.4.6.3. France: Artificial Lift Market, by Application, 2019-2032 (USD Million)
- 9.4.6.4. France: Artificial Lift Market, by Well Type, 2019-2032 (USD Million)
- 9.4.7. Artificial Lift Market - Germany
- 9.4.7.1. Germany: Artificial Lift Market, by Mechanism, 2019-2032 (USD Million)
- 9.4.7.2. Germany: Artificial Lift Market, by Type, 2019-2032 (USD Million)
- 9.4.7.3. Germany: Artificial Lift Market, by Application, 2019-2032 (USD Million)
- 9.4.7.4. Germany: Artificial Lift Market, by Well Type, 2019-2032 (USD Million)
- 9.4.8. Artificial Lift Market - Italy
- 9.4.8.1. Italy: Artificial Lift Market, by Mechanism, 2019-2032 (USD Million)
- 9.4.8.2. Italy: Artificial Lift Market, by Type, 2019-2032 (USD Million)
- 9.4.8.3. Italy: Artificial Lift Market, by Application, 2019-2032 (USD Million)
- 9.4.8.4. Italy: Artificial Lift Market, by Well Type, 2019-2032 (USD Million)
- 9.4.9. Artificial Lift Market - Spain
- 9.4.9.1. Spain: Artificial Lift Market, by Mechanism, 2019-2032 (USD Million)
- 9.4.9.2. Spain: Artificial Lift Market, by Type, 2019-2032 (USD Million)
- 9.4.9.3. Spain: Artificial Lift Market, by Application, 2019-2032 (USD Million)
- 9.4.9.4. Spain: Artificial Lift Market, by Well Type, 2019-2032 (USD Million)
- 9.4.10. Artificial Lift Market - Netherlands
- 9.4.10.1. Netherlands: Artificial Lift Market, by Mechanism, 2019-2032 (USD Million)
- 9.4.10.2. Netherlands: Artificial Lift Market, by Type, 2019-2032 (USD Million)
- 9.4.10.3. Netherlands: Artificial Lift Market, by Application, 2019-2032 (USD Million)
- 9.4.10.4. Netherlands: Artificial Lift Market, by Well Type, 2019-2032 (USD Million)
- 9.4.11. Artificial Lift Market - Russia
- 9.4.11.1. Russia: Artificial Lift Market, by Mechanism, 2019-2032 (USD Million)
- 9.4.11.2. Russia.: Artificial Lift Market, by Type, 2019-2032 (USD Million)
- 9.4.11.3. Russia: Artificial Lift Market, by Application, 2019-2032 (USD Million)
- 9.4.11.4. Russia: Artificial Lift Market, by Well Type, 2019-2032 (USD Million)
- 9.5. Artificial Lift Market - Asia Pacific
- 9.5.1. Asia Pacific: Artificial Lift Market, by Mechanism, 2019-2032 (USD Million)
- 9.5.2. Asia Pacific: Artificial Lift Market, by Type, 2019-2032 (USD Million)
- 9.5.3. Asia Pacific: Artificial Lift Market, by Application, 2019-2032 (USD Million)
- 9.5.4. Asia Pacific: Artificial Lift Market, by Well Type, 2019-2032 (USD Million)
- 9.5.5. Artificial Lift Market - China
- 9.5.5.1. China: Artificial Lift Market, by Mechanism, 2019-2032 (USD Million)
- 9.5.5.2. China.: Artificial Lift Market, by Type, 2019-2032 (USD Million)
- 9.5.5.3. China: Artificial Lift Market, by Application, 2019-2032 (USD Million)
- 9.5.5.4. China: Artificial Lift Market, by Well Type, 2019-2032 (USD Million)
- 9.5.6. Artificial Lift Market - India
- 9.5.6.1. India: Artificial Lift Market, by Mechanism, 2019-2032 (USD Million)
- 9.5.6.2. India.: Artificial Lift Market, by Type, 2019-2032 (USD Million)
- 9.5.6.3. India: Artificial Lift Market, by Application, 2019-2032 (USD Million)
- 9.5.6.4. India: Artificial Lift Market, by Well Type, 2019-2032 (USD Million)
- 9.5.7. Artificial Lift Market - Japan
- 9.5.7.1. Japan: Artificial Lift Market, by Mechanism, 2019-2032 (USD Million)
- 9.5.7.2. Japan.: Artificial Lift Market, by Type, 2019-2032 (USD Million)
- 9.5.7.3. Japan: Artificial Lift Market, by Application, 2019-2032 (USD Million)
- 9.5.7.4. Japan: Artificial Lift Market, by Well Type, 2019-2032 (USD Million)
- 9.5.8. Artificial Lift Market - Malaysia
- 9.5.8.1. Malaysia: Artificial Lift Market, by Mechanism, 2019-2032 (USD Million)
- 9.5.8.2. Malaysia.: Artificial Lift Market, by Type, 2019-2032 (USD Million)
- 9.5.8.3. Malaysia: Artificial Lift Market, by Application, 2019-2032 (USD Million)
- 9.5.8.4. Malaysia: Artificial Lift Market, by Well Type, 2019-2032 (USD Million)
- 9.5.9. Artificial Lift Market - Indonesia
- 9.5.9.1. Indonesia: Artificial Lift Market, by Mechanism, 2019-2032 (USD Million)
- 9.5.9.2. Indonesia.: Artificial Lift Market, by Type, 2019-2032 (USD Million)
- 9.5.9.3. Indonesia: Artificial Lift Market, by Application, 2019-2032 (USD Million)
- 9.5.9.4. Indonesia: Artificial Lift Market, by Well Type, 2019-2032 (USD Million)
- 9.5.10. Artificial Lift Market - South Korea
- 9.5.10.1. South Korea: Artificial Lift Market, by Mechanism, 2019-2032 (USD Million)
- 9.5.10.2. South Korea.: Artificial Lift Market, by Type, 2019-2032 (USD Million)
- 9.5.10.3. South Korea: Artificial Lift Market, by Application, 2019-2032 (USD Million)
- 9.5.10.4. South Korea: Artificial Lift Market, by Well Type, 2019-2032 (USD Million)
- 9.6. Artificial Lift Market - Middle East & Africa
- 9.6.1. Middle East & Africa: Artificial Lift Market, by Mechanism, 2019-2032 (USD Million)
- 9.6.2. Middle East & Africa: Artificial Lift Market, by Type, 2019-2032 (USD Million)
- 9.6.3. Middle East & Africa: Artificial Lift Market, by Application, 2019-2032 (USD Million)
- 9.6.4. Middle East & Africa: Artificial Lift Market, by Well Type, 2019-2032 (USD Million)
- 9.6.5. Artificial Lift Market - Saudi Arabia
- 9.6.5.1. Saudi Arabia: Artificial Lift Market, by Mechanism, 2019-2032 (USD Million)
- 9.6.5.2. Saudi Arabia: Artificial Lift Market, by Type, 2019-2032 (USD Million)
- 9.6.5.3. Saudi Arabia: Artificial Lift Market, by Application, 2019-2032 (USD Million)
- 9.6.5.4. Saudi Arabia: Artificial Lift Market, by Well Type, 2019-2032 (USD Million)
- 9.6.6. Artificial Lift Market - South Africa
- 9.6.6.1. South Africa: Artificial Lift Market, by Mechanism, 2019-2032 (USD Million)
- 9.6.6.2. South Africa: Artificial Lift Market, by Type, 2019-2032 (USD Million)
- 9.6.6.3. South Africa: Artificial Lift Market, by Application, 2019-2032 (USD Million)
- 9.6.6.4. South Africa: Artificial Lift Market, by Well Type, 2019-2032 (USD Million)
- 9.6.7. Artificial Lift Market - Israel
- 9.6.7.1. Israel: Artificial Lift Market, by Mechanism, 2019-2032 (USD Million)
- 9.6.7.2. Israel: Artificial Lift Market, by Type, 2019-2032 (USD Million)
- 9.6.7.3. Israel: Artificial Lift Market, by Application, 2019-2032 (USD Million)
- 9.6.7.4. Israel: Artificial Lift Market, by Well Type, 2019-2032 (USD Million)
- 9.6.8. Artificial Lift Market - UAE
- 9.6.8.1. UAE: Artificial Lift Market, by Mechanism, 2019-2032 (USD Million)
- 9.6.8.2. UAE: Artificial Lift Market, by Type, 2019-2032 (USD Million)
- 9.6.8.3. UAE: Artificial Lift Market, by Application, 2019-2032 (USD Million)
- 9.6.8.4. UAE: Artificial Lift Market, by Well Type, 2019-2032 (USD Million)
- 9.7. Artificial Lift Market - Latin America
- 9.7.1. Latin America: Artificial Lift Market, by Mechanism, 2019-2032 (USD Million)
- 9.7.2. Latin America: Artificial Lift Market, by Type, 2019-2032 (USD Million)
- 9.7.3. Latin America: Artificial Lift Market, by Application, 2019-2032 (USD Million)
- 9.7.4. Latin America: Artificial Lift Market, by Well Type, 2019-2032 (USD Million)
- 9.7.5. Artificial Lift Market - Mexico
- 9.7.5.1. Mexico: Artificial Lift Market, by Mechanism, 2019-2032 (USD Million)
- 9.7.5.2. Mexico: Artificial Lift Market, by Type, 2019-2032 (USD Million)
- 9.7.5.3. Mexico: Artificial Lift Market, by Application, 2019-2032 (USD Million)
- 9.7.5.4. Mexico: Artificial Lift Market, by Well Type, 2019-2032 (USD Million)
- 9.7.6. Artificial Lift Market - Brazil
- 9.7.6.1. Brazil: Artificial Lift Market, by Mechanism, 2019-2032 (USD Million)
- 9.7.6.2. Brazil: Artificial Lift Market, by Type, 2019-2032 (USD Million)
- 9.7.6.3. Brazil: Artificial Lift Market, by Application, 2019-2032 (USD Million)
- 9.7.6.4. Brazil: Artificial Lift Market, by Well Type, 2019-2032 (USD Million)
- 9.7.7. Artificial Lift Market - Argentina
- 9.7.7.1. Argentina: Artificial Lift Market, by Mechanism, 2019-2032 (USD Million)
- 9.7.7.2. Argentina: Artificial Lift Market, by Type, 2019-2032 (USD Million)
- 9.7.7.3. Argentina: Artificial Lift Market, by Application, 2019-2032 (USD Million)
- 9.7.7.4. Argentina: Artificial Lift Market, by Well Type, 2019-2032 (USD Million)
10. Competitive Landscape
- 10.1. Expansion and Acquisition Analysis
- 10.1.1. Expansion
- 10.1.2. Acquisitions
- 10.2. Partnerships/Collaborations/Agreements/Exhibitions
11. Company Profiles
- 11.1. Baker Hughes Company
- 11.1.1. Company Overview
- 11.1.2. Financial Performance
- 11.1.3. Product Benchmarking
- 11.1.4. Recent Development
- 11.2. Borets International Limited
- 11.2.1. Company Overview
- 11.2.2. Financial Performance
- 11.2.3. Product Benchmarking
- 11.2.4. Recent Development
- 11.3. Dover Corporation
- 11.3.1. Company Overview
- 11.3.2. Financial Performance
- 11.3.3. Product Benchmarking
- 11.3.4. Recent Development
- 11.4. Halliburton
- 11.4.1. Company Overview
- 11.4.2. Financial Performance
- 11.4.3. Product Benchmarking
- 11.4.4. Recent Development
- 11.5. JJ Tech (J&J Technical Services, LLC)
- 11.5.1. Company Overview
- 11.5.2. Financial Performance
- 11.5.3. Product Benchmarking
- 11.5.4. Recent Development
- 11.6. National Oilwell Varco Inc
- 11.6.1. Company Overview
- 11.6.2. Financial Performance
- 11.6.3. Product Benchmarking
- 11.6.4. Recent Development
- 11.7. Novomet
- 11.7.1. Company Overview
- 11.7.2. Financial Performance
- 11.7.3. Product Benchmarking
- 11.7.4. Recent Development
- 11.8. OiLSERV
- 11.8.1. Company Overview
- 11.8.2. Financial Performance
- 11.8.3. Product Benchmarking
- 11.8.4. Recent Development
- 11.9. Schlumberger Limited
- 11.9.1. Company Overview
- 11.9.2. Financial Performance
- 11.9.3. Product Benchmarking
- 11.9.4. Recent Development
- 11.10. Weatherford
- 11.10.1. Company Overview
- 11.10.2. Financial Performance
- 11.10.3. Product Benchmarking
- 11.10.4. Recent Development