About Artificial Lifts
Due to upsurging demand for oil and gas across the globe has robustly escalated the oil drilling and transportation activities which will ultimately generate maximum significance of artificial lifts to smoothen the oil drilling operations and decrease the lead time. These lifts are mainly used during secondary extraction phase of an oil well. During this extraction phase 15%-30% of the oil can be extracted from the oil well. As a result, these lifts will generate significant effect on oil & gas industry and vice versa. In addition to this, need for growing number of wells, enhanced recovery rates, which requires secondary extraction, and increasing demand for energy & petrochemicals has enabled oil and gas companies to economically extract oil from challenging areas. Some of these factors will generate significant demand over the forecasted period.
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The Manufacturers having a strong hold in the market are Schlumberger Limited, General Electric Company, Dover Corporation, Weatherford International plc, Halliburton Company. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Artificial Lifts market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Schlumberger Limited (United States), General Electric Company (United States), Dover Corporation (United States), Weatherford International plc (United States), Halliburton Company (United States), JJ Tech (United States), National Oilwell Varco (United States), BCP Group (United States), NOVOMET (Russia/United States) and Aker Solutions ASA (Norway) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Occidental Petroleum Corporation (United States), Flotek Industries, Inc. (United States) and Borets International Limited (United Arab Emirates).
AMA Research has segmented the market of Global Artificial Lifts market by Type (Pump Assisted and Gas Assisted), Application (Onshore and Offshore) and Region.
On the basis of geography, the market of Artificial Lifts has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Component, the sub-segment i.e. Pump will boost the Artificial Lifts market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Mechanism, the sub-segment i.e. Pump Assisted will boost the Artificial Lifts market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Introduction to Liquid Assisted Gas Lifts as well as Plunger Lifts and Availability of all Possible Customizations with Advanced Technologies
Market Growth Drivers:
Simple Corrosion and Scale Treatments in case of Rod Pumping Lifts and Artificial Gas Lift Enable Users to Handle Comparatively Larger Volume in Minimal Efforts
Lack of Building Infrastructure Developments in Underdeveloped Regions and Comparatively Higher Operational Costs than the Conventional Lifts
Possibilities of Catching Fire in case of Hydraulic Piston Pumping enabled Lifts and Requirement of High Voltage Source for Highly Advanced Artificial Lifts
Lower Environmental Impact, Hazardous Fluids which might Encourage Number of Customers and Increased Production of Stripper, Marginal, and Orphaned Wells
Market Leaders and their expansionary development strategies
On February 19th, 2019, the global company dedicated to industrial automation and information, “Rockwell Automation” and leading provider of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry “Schlumberger” has entered into an agreement to create a new joint venture, Sensia, the first fully integrated digital oilfield automation solutions provider. The transaction is expected to close, and the joint venture is expected to begin serving customers, in the summer of 2019, subject to regulatory approvals and other customary conditions.
On October 25th, 2018, one of the division of Schlumberger Technology Corporation named “Hexacom” has launched an e-commerce platform that connects oil and gas industry professionals with the products, services, and information they need to optimize their assets ‘The Oilfield Marketplace’. It offers a seamless online experience that makes ordering oilfield products as easy as ordering a book.
Key Target AudienceArtificial Lift Manufacturers, Artificial Lift Distributors and Traders, Oil and Gas Industry Organizations, Oilfield Organizations, Government Agencies, Research and Development Ventures and Others
About ApproachTo evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.