Global Artificial Lift Market to reach USD 13.56 billion by 2025Posted by Bharat Book on October 27th, 2018 Bharat Book Bureau Provides the Trending Market Research Report on "Global Artificial Lift Market 2018-2025" under Machinery & Equipment category. The report offers a collection of superior market research, market analysis, competitive intelligence and industry reports. Global Artificial Lift Market to reach USD 13.56 billion by 2025. Global Artificial Lift Market valued approximately USD 8.9 billion in 2017 is anticipated to grow with a healthy growth rate of more than 5.40% over the forecast period 2018-2025. Increasing demand of energy across the world, improving production efficiency at the mature fields and increasing deep & ultra-deep offshore oil production are the major driving factors of the artificial lift market. The major restraining factor that negatively impact the artificial lift market are lack of skilled workers and high costs of artificial lift equipment. Artificial lift refers to the use of artificial means to increase the flow of liquids, such as crude oil or water, from a production well. Generally this is achieved by the use of a mechanical device inside the well (known as pump or velocity string) or by decreasing the weight of the hydrostatic column by injecting gas into the liquid some distance down the well. The artificial lifts have applications in the oil and gas industry to increase the oil production from reservoirs. In 2015, the Global artificial lift system market generated revenue of ,449 million, moreover, due to increase in demand of energy across the world in conjunction with the improving production efficiencies at mature fields, the market revenue is to reach ,569 million through 2022. The regional analysis of Global Artificial Lift Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share highest revenue generating region valued at 92 million in 2015. Whereas, owing to the countries such as China, Japan, and India in Asia Pacific region is anticipated to exhibit higher growth rate / CAGR over the forecast period 2018-2025 as well as leading largest revenue generating region by 2022. Ever rising population in the countries such as India and China are fueling the requirement of the oil and gas in this region along with increasing population. The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
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- U.S. - Canada
- UK - Germany
- China - India - Japan
- Brazil - Mexico
Furthermore, years considered for the study are as follows: Historical year – 2015, 2016 Base year – 2017 Forecast period – 2018 to 2025 The industry is seeming to be fairly competitive. Some of the leading market players include General Electric Company, Man Diesel and Turbo SE, Ebara Corporations, Solar Turbine Inc., Ariel Corporations, Neuman and Asser Group, Hitachi Ltd., Burckhardt Compression Holding AG, Route Mobile Ltd., Infobip Ltd., Tyntec, Nexmo, DIMOCO and so on. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players. Target Audience of the Global Artificial Lift Market in Market Study:
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