Artificial Lift Systems Market to Reach $13.7 Billion by 2018 - New Report by MarketsandMarkets
(PR Web Via Acquire Media NewsEdge) (PRWEB) March 08, 2014
The report “Artificial Lift Systems Market, by Types (ESP, PCP, Rod Lift), by Component (Pump, Motor, Separator, Cable, Pump Jack, Sucker Rod), by Countries (U.S., Canada, Russia, China, Venezuela) - Trends & Forecast to 2018”, defines and segments the Artificial Lift Systems Market for analysis and projection of the market revenue.
Browse 3 market data tables and 48 figures spread through 137 slides and in-depth TOC on the “Artificial Lift Systems Market, by Types (ESP, PCP, Rod Lift), by Component (Pump, Motor, Separator, Cable, Pump Jack, Sucker Rod), by Countries (U.S., Canada, Russia, China, Venezuela) - Trends & Forecast to 2018”.
Early buyers will receive 10% customization on this report.
Electric Submersible Pump – The Biggest Component Market of Artificial Lift
The electric submersible pump market is anticipated to be a leader within the artificial lift market with respect to the market revenue. Russia and United States of America have the biggest installed base of ESP systems. The component replacement market represents these countries as the biggest revenue pockets for ESP pump manufacturers. The collective of the ESP pump market in these two countries is estimated to grow at a CAGR of about 10.5% from 2013 to 2018.
U.S. - Largest Replacement Demand for Sucker Rods from the Installed Base of Rod Lift
The U.S. rod lift market, being the biggest market across the world, was accounted for about 50.8% of the global rod lift market in 2012. The market is estimated to grow at a CAGR of 6.7% for the period of 2013 to 2018. U.S. is witnessing high growth in unconventional oil production such as shale oil, tight oil, and growing marginal well count, which supports future demand for rod lifts and its components. The growth in the demand for rod lift installed base provides sustainability to sucker rod industry and with the biggest installed base, U.S. rod lift sucker rod market is expected to show the growth rate of 8.0% for the same period.
Increasing deep & ultra-deep offshore and heavy oil production, enhanced production requirements in mature fields, growing activities of subsea operations, coal bed methane production, and mounting installed base of artificial lifts drive the artificial lift component market. Redevelopment of the old & marginal fields and booming subsea operations promise future growth to artificial lift components manufacturers.
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Well Intervention Market, by Service Types (Logging & Bottom Hole Survey, Tubing/Packer Failure & Repair, Stimulation, Artificial Lift, Others), Application Areas (Onshore & Offshore), and Geography - Global Trends & Forecast To 2018
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