Summary

Market Overview:

The global artificial lift system market size reached US$ 22.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 30.5 Billion by 2028, exhibiting a growth rate (CAGR) of 5.4% during 2023-2028.

An artificial lift system refers to a mechanical lifting method used to lower the producing bottomhole pressure (BHP) on the development to increase the production rate from the well. Hydraulic lift, progressive cavity pump (PCP), rod lift, electric submersible pump (ESP), plunger lift, and gas lift are some of the common types of artificial lift systems. Consisting of a motor, pump, impellers, blades, controller, and a cable system, an artificial lift system is widely used to generate a higher rate current from a well that is not strong enough to push oil to the surface. Apart from this, these systems are efficient, simple, wireless retrievable, offer a high degree of flexibility, and can handle unfavorable climatic conditions.

Artificial Lift System Market Trends:
Significant growth in the oil and gas industry across the globe is creating a positive outlook for the market. In line with this, artificial lift systems are widely used during oil production and exploration activities to increase the pressure within the reservoir and encourage oil to the surface at higher efficiency. Apart from this, various advancements in technologies, such as the integration of artificial intelligence (AI) and the Internet of Things (IoT) to optimize hydrocarbon withdrawal and prevent the incidence of destructive events, are providing a considerable boost to the market growth. Additionally, the increasing demand for ESPs due to their versatile nature and the ability to handle a high volume and a wide range of flow rates while operating efficiently in harsh environmental conditions is augmenting the market growth. Other factors, including the rapid establishment of new exploration fields and the increasing number of onshore and offshore production and exploration activities, are anticipated to drive the market toward growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global artificial lift system market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on lift type, well type, mechanism and application.

Breakup by Lift Type:

Electric Submersible Pumps (ESP)
Progressing Cavity Pumps (PCP)
Gas Lift
Rod Lift
Hydraulic Pumps
Others

Breakup by Well Type:

Horizontal
Vertical

Breakup by Mechanism:

Gas Assisted
Pump Assisted

Breakup by Application:

Offshore
Onshore

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Baker Hughes Company, Borets International Ltd., Canadian Advanced ESP Inc., ChampionX, Dover Corporation, General Electric Company, Halliburton Company, JJ Tech, NOV Inc., Schlumberger Limited, Tenaris S.A. (Techint) and Weatherford International plc.

Key Questions Answered in This Report:
How has the global artificial lift system market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global artificial lift system market?
What are the key regional markets?
What is the breakup of the market based on the lift type?
What is the breakup of the market based on the well type?
What is the breakup of the market based on the mechanism?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global artificial lift system market and who are the key players?
What is the degree of competition in the industry?

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Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Artificial Lift System Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Lift Type
6.1 Electric Submersible Pumps (ESP)
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Progressing Cavity Pumps (PCP)
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Gas Lift
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Rod Lift
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Hydraulic Pumps
6.5.1 Market Trends
6.5.2 Market Forecast
6.6 Others
6.6.1 Market Trends
6.6.2 Market Forecast
7 Market Breakup by Well Type
7.1 Horizontal
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Vertical
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Mechanism
8.1 Gas Assisted
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Pump Assisted
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by Application
9.1 Offshore
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Onshore
9.2.1 Market Trends
9.2.2 Market Forecast
10 Market Breakup by Region
10.1 North America
10.1.1 United States
10.1.1.1 Market Trends
10.1.1.2 Market Forecast
10.1.2 Canada
10.1.2.1 Market Trends
10.1.2.2 Market Forecast
10.2 Asia-Pacific
10.2.1 China
10.2.1.1 Market Trends
10.2.1.2 Market Forecast
10.2.2 Japan
10.2.2.1 Market Trends
10.2.2.2 Market Forecast
10.2.3 India
10.2.3.1 Market Trends
10.2.3.2 Market Forecast
10.2.4 South Korea
10.2.4.1 Market Trends
10.2.4.2 Market Forecast
10.2.5 Australia
10.2.5.1 Market Trends
10.2.5.2 Market Forecast
10.2.6 Indonesia
10.2.6.1 Market Trends
10.2.6.2 Market Forecast
10.2.7 Others
10.2.7.1 Market Trends
10.2.7.2 Market Forecast
10.3 Europe
10.3.1 Germany
10.3.1.1 Market Trends
10.3.1.2 Market Forecast
10.3.2 France
10.3.2.1 Market Trends
10.3.2.2 Market Forecast
10.3.3 United Kingdom
10.3.3.1 Market Trends
10.3.3.2 Market Forecast
10.3.4 Italy
10.3.4.1 Market Trends
10.3.4.2 Market Forecast
10.3.5 Spain
10.3.5.1 Market Trends
10.3.5.2 Market Forecast
10.3.6 Russia
10.3.6.1 Market Trends
10.3.6.2 Market Forecast
10.3.7 Others
10.3.7.1 Market Trends
10.3.7.2 Market Forecast
10.4 Latin America
10.4.1 Brazil
10.4.1.1 Market Trends
10.4.1.2 Market Forecast
10.4.2 Mexico
10.4.2.1 Market Trends
10.4.2.2 Market Forecast
10.4.3 Others
10.4.3.1 Market Trends
10.4.3.2 Market Forecast
10.5 Middle East and Africa
10.5.1 Market Trends
10.5.2 Market Breakup by Country
10.5.3 Market Forecast
11 SWOT Analysis
11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
15.3.1 Baker Hughes Company
15.3.1.1 Company Overview
15.3.1.2 Product Portfolio
15.3.1.3 Financials
15.3.1.4 SWOT Analysis
15.3.2 Borets International Ltd.
15.3.2.1 Company Overview
15.3.2.2 Product Portfolio
15.3.3 Canadian Advanced ESP Inc.
15.3.3.1 Company Overview
15.3.3.2 Product Portfolio
15.3.4 ChampionX
15.3.4.1 Company Overview
15.3.4.2 Product Portfolio
15.3.4.3 Financials
15.3.5 Dover Corporation
15.3.5.1 Company Overview
15.3.5.2 Product Portfolio
15.3.5.3 Financials
15.3.5.4 SWOT Analysis
15.3.6 General Electric Company
15.3.6.1 Company Overview
15.3.6.2 Product Portfolio
15.3.6.3 Financials
15.3.6.4 SWOT Analysis
15.3.7 Halliburton Company
15.3.7.1 Company Overview
15.3.7.2 Product Portfolio
15.3.7.3 Financials
15.3.7.4 SWOT Analysis
15.3.8 JJ Tech
15.3.8.1 Company Overview
15.3.8.2 Product Portfolio
15.3.9 NOV Inc.
15.3.9.1 Company Overview
15.3.9.2 Product Portfolio
15.3.9.3 Financials
15.3.9.4 SWOT Analysis
15.3.10 Schlumberger Limited
15.3.10.1 Company Overview
15.3.10.2 Product Portfolio
15.3.10.3 Financials
15.3.10.4 SWOT Analysis
15.3.11 Tenaris S.A. (Techint)
15.3.11.1 Company Overview
15.3.11.2 Product Portfolio
15.3.11.3 Financials
15.3.12 Weatherford International plc
15.3.12.1 Company Overview
15.3.12.2 Product Portfolio

List of Figures

Figure 1: Global: Artificial Lift System Market: Major Drivers and Challenges
Figure 2: Global: Artificial Lift System Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Artificial Lift System Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Artificial Lift System Market: Breakup by Lift Type (in %), 2022
Figure 5: Global: Artificial Lift System Market: Breakup by Well Type (in %), 2022
Figure 6: Global: Artificial Lift System Market: Breakup by Mechanism (in %), 2022
Figure 7: Global: Artificial Lift System Market: Breakup by Application (in %), 2022
Figure 8: Global: Artificial Lift System Market: Breakup by Region (in %), 2022
Figure 9: Global: Artificial Lift System (Electric Submersible Pumps-ESP) Market: Sales Value (in Million US$), 2017 & 2022
Figure 10: Global: Artificial Lift System (Electric Submersible Pumps-ESP) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 11: Global: Artificial Lift System (Progressing Cavity Pumps-PCP) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Global: Artificial Lift System (Progressing Cavity Pumps-PCP) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Global: Artificial Lift System (Gas Lift) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Global: Artificial Lift System (Gas Lift) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Global: Artificial Lift System (Rod Lift) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Global: Artificial Lift System (Rod Lift) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Global: Artificial Lift System (Hydraulic Pumps) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Global: Artificial Lift System (Hydraulic Pumps) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Global: Artificial Lift System (Other Lift Types) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Global: Artificial Lift System (Other Lift Types) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Global: Artificial Lift System (Horizontal) Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: Global: Artificial Lift System (Horizontal) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: Global: Artificial Lift System (Vertical) Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: Global: Artificial Lift System (Vertical) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: Global: Artificial Lift System (Gas Assisted) Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: Global: Artificial Lift System (Gas Assisted) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: Global: Artificial Lift System (Pump Assisted) Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: Global: Artificial Lift System (Pump Assisted) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: Global: Artificial Lift System (Offshore) Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: Global: Artificial Lift System (Offshore) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: Global: Artificial Lift System (Onshore) Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: Global: Artificial Lift System (Onshore) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: North America: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
Figure 34: North America: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 35: United States: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
Figure 36: United States: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 37: Canada: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
Figure 38: Canada: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 39: Asia-Pacific: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
Figure 40: Asia-Pacific: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 41: China: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
Figure 42: China: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 43: Japan: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
Figure 44: Japan: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 45: India: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
Figure 46: India: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 47: South Korea: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
Figure 48: South Korea: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 49: Australia: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
Figure 50: Australia: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 51: Indonesia: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
Figure 52: Indonesia: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 53: Others: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
Figure 54: Others: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 55: Europe: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
Figure 56: Europe: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 57: Germany: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
Figure 58: Germany: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 59: France: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
Figure 60: France: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 61: United Kingdom: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
Figure 62: United Kingdom: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 63: Italy: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
Figure 64: Italy: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 65: Spain: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
Figure 66: Spain: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 67: Russia: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
Figure 68: Russia: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 69: Others: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
Figure 70: Others: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 71: Latin America: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
Figure 72: Latin America: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 73: Brazil: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
Figure 74: Brazil: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 75: Mexico: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
Figure 76: Mexico: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 77: Others: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
Figure 78: Others: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 79: Middle East and Africa: Artificial Lift System Market: Sales Value (in Million US$), 2017 & 2022
Figure 80: Middle East and Africa: Artificial Lift System Market: Breakup by Country (in %), 2022
Figure 81: Middle East and Africa: Artificial Lift System Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 82: Global: Artificial Lift System Industry: SWOT Analysis
Figure 83: Global: Artificial Lift System Industry: Value Chain Analysis
Figure 84: Global: Artificial Lift System Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Artificial Lift System Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Artificial Lift System Market Forecast: Breakup by Lift Type (in Million US$), 2023-2028
Table 3: Global: Artificial Lift System Market Forecast: Breakup by Well Type (in Million US$), 2023-2028
Table 4: Global: Artificial Lift System Market Forecast: Breakup by Mechanism (in Million US$), 2023-2028
Table 5: Global: Artificial Lift System Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 6: Global: Artificial Lift System Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 7: Global: Artificial Lift System Market: Competitive Structure
Table 8: Global: Artificial Lift System Market: Key Players