Vertical Artificial Lift System Market

Artificial lift is a method used to lower the producing bottomhole pressure (BHP) on the formation to obtain a higher production rate from the well. This can be done with a positive-displacement downhole pump, such as a beam pump or a progressive cavity pump (PCP), to lower the flowing pressure at the pump intake. It also can be done with a downhole centrifugal pump, which could be a part of an electrical submersible pump (ESP) system. A lower bottomhole flowing pressure and higher flow rate can be achieved with gas lift in which the density of the fluid in the tubing is lowered and expanding gas helps to lift the fluids. Artificial lift can be used to generate flow from a well in which no flow is occurring or used to increase the flow from a well to produce at a higher rate. Most oil wells require artificial lift at some point in the life of the field, and many gas wells benefit from artificial lift to take liquids off the formation so gas can flow at a higher rate
Vertical Artificial Lift System Market contains market size and forecasts of Vertical Artificial Lift System in global, including the following market information:
Global Vertical Artificial Lift System Market Revenue, 2018-2023, 2023-2032, ($ millions)
Global Vertical Artificial Lift System Market Sales, 2018-2023, 2023-2032, (K Units)
Global top five Vertical Artificial Lift System companies in 2022 (%)
The global Vertical Artificial Lift System market was valued at US$ million in 2022 and is projected to reach US$ million by 2032, at a CAGR of % during the forecast period 2023-2032.
The U.S. Market is Estimated at $ Million in 2022, While China is Forecast to Reach $ Million by 2032.
Pump Assisted Segment to Reach $ Million by 2032, with a % CAGR in next six years.
The global key manufacturers of Vertical Artificial Lift System include Schlumberger Limited, Baker Hughes Company, Halliburton, NOV Inc, Weatherford, Ebara Corporation, Borets, ChampionX and JJ TECH, etc. In 2022, the global top five players have a share approximately % in terms of revenue.
We surveyed the Vertical Artificial Lift System manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.
Total Market by Segment:
Global Vertical Artificial Lift System Market, by Type, 2018-2023, 2023-2032 ($ Millions) & (K Units)
Global Vertical Artificial Lift System Market Segment Percentages, by Type, 2022 (%)
Pump Assisted
Gas Assisted
Global Vertical Artificial Lift System Market, by Application, 2018-2023, 2023-2032 ($ Millions) & (K Units)
Global Vertical Artificial Lift System Market Segment Percentages, by Application, 2022 (%)
Oil and Gas
Application 2
Global Vertical Artificial Lift System Market, By Region and Country, 2018-2023, 2023-2032 ($ Millions) & (K Units)
Global Vertical Artificial Lift System Market Segment Percentages, By Region and Country, 2022 (%)
North America
US
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Russia
Nordic Countries
Benelux
Rest of Europe
Asia
China
Japan
South Korea
Southeast Asia
India
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Turkey
Israel
Saudi Arabia
UAE
Rest of Middle East & Africa
Competitor Analysis
The report also provides analysis of leading market participants including:
Key companies Vertical Artificial Lift System revenues in global market, 2018-2023 (Estimated), ($ millions)
Key companies Vertical Artificial Lift System revenues share in global market, 2022 (%)
Key companies Vertical Artificial Lift System sales in global market, 2018-2023 (Estimated), (K Units)
Key companies Vertical Artificial Lift System sales share in global market, 2022 (%)
Further, the report presents profiles of competitors in the market, key players include:
Schlumberger Limited
Baker Hughes Company
Halliburton
NOV Inc
Weatherford
Ebara Corporation
Borets
ChampionX
JJ TECH
OilSERV
Novomet
Cairn Oil and Gas
China Petroleum & Chemical Corporation
PetroChina Company Limited
Guanghui Energy Co.,Ltd
Sino Geophysical Co., Ltd
Geo-Jade Petroleum Corporation
Sinopec Oilfield Service Corporation