Global Artificial Lift Market is estimated to reach $36.4 Billion by 2024 with CAGR of 10.7% between 2016 and 2024. Artificial lifts are principally used in the oil & gas industry to lift oil production in reservoirs. When the original or natural reservoir energy is not sufficient to push oil to the outward, these artificial lift helps to upsurge the pressure within the reservoir.
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The need for an artificial lift in almost all oil & gas wells to remove water is expected to garner substantial growth in the artificial lift market around the globe. According to the latest MRFR report, the global artificial lift market is expected to showcase a steady CAGR during the forecast period of 2016-2027. Furthermore, increasing production of heavy oil, the rise in the demand for energy across the globe, improving ... Read more
The global artificial lift market is growing due to decline in oil reservoirs, increase in shale oil and gas production. The recent decline in oil prices is also estimated to increase the demand for production focused services such as pressure pumping, artificial lift and enhanced oil recovery in comparison to drilling services. The unconventional production has transformed the oil and gas industry in North America over the last decade ... Read more
OG Analysis, a global market research firm, has announced the release of their Global Artificial Lift Market to 2025: Report proposes complete outlook of the market including comprehensive market analysis, Market Share, Market Size, Market Drivers, Challenges and Opportunities.
The global demand for Artificial Lift market is forecast to report strong growth driven by consumption in major ... Read more
