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Artificial Lift System Market

Artificial lift is a method used to reduce the bottomhole pressure (BHP) on the development to increase production rate from the well. To reduce the running pressure at the pump intake, a positive-displacement downhole pump, such as a modern progressive cavity pump (PCP), can be used . It can also be made with a downhole centrifugal pump, which could be a part of an electrical submersible pump (ESP) system. A reduced bottom hole moving pressure as well as a higher flow rate can be achieved with gas lift in which the thickness of the fluid in the tubes is lowered with increase in gas to lift

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Artificial Lift System Market

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  1. Opportunity Analysis and Industry Forecast, 2016-20231 Artificial Lift System Market by Lift Type, Application, Mechanism, and Well Type : Global Opportunity Analysis and Industry Forecast 2021-2030 • Pages: 225 Tables: 95 Charts: 76

  2. Global Artificial Lift System Market Outlook (2021 – 2030) • Top Impacting Factors: • The global artificial lift system market size was valued at $26.3 billion in 2020 and is projected to reach $55.3 billion by 2030, growing at a CAGR of 7.7% from 2021 to 2030. • The artificial lift method is used to boost reservoir pressure and push crude oil to the surface. • Artificial lift is used when the naturally derived energy of the reservoir is sufficient to push the oil to the surface area. • Artificial lift is used to recoup more crude oil from the reservoir. • Pages: 225 Tables: 95 Charts: 76

  3. Global Artificial Lift System Market Outlook (2021 – 2030) • The main focus of every oil & gas operator is to reduce both capital expenditure (CAPEX) & operating expenditure (OPEX) and maximize oil production while decreasing cost. • Artificial lift is used to boost the circulation of liquids to the surface of a production oil well, and also this is attained by a mechanical device inside the well, such as a pump thus reducing the weight of the liquid/gas mixture using high-pressure gas and improving the lift effectiveness of the well through rate strings. • The growth of the artificial lift market is due to the increase in the need for oil & gas, accelerating economic growth, growing shale oil production, rising global population, enhancing financial investment in offshore drilling exploration activities, as well as a rising variety of mature reserves. • Pages: 225 Tables: 95 Charts: 76

  4. Global Artificial Lift System Market Outlook (2021 – 2030) • Key Findings of The Artificial Lift System Market : • By region, North America accounted for the largest market share in 2020. • By lift type, Electric Submersible Pumps (ESP) segment holds the largest market share in 2020. • By application, the offshore segment accounted for the largest market share in 2020. • By mechanism, the gas segment accounted for the largest market share in 2020. • By well type, the horizontal segment accounted for the largest market share in 2020. • Pages: 225 Tables: 95 Charts: 76

  5. The key players profiled in the report include: • Baker Hughes Company • Borets International Limited. • ChampionX • Dover Corporation • Halliburton • JJ Tech • NOV Inc. • Novomet • Schlumberger Limited • Weatherford International PLC. Global Artificial Lift System Market Outlook (2021– 2030) • Pages: 225 Tables: 95 Charts: 76

  6. Global Artificial Lift System Market Outlook (2021 – 2030) Thank You! For More Details Visit us at https://www.alliedmarketresearch.com Follow Us On

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