January 27, 2016 - 3:27 PM EST
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Global Artificial Lift Market Forecast to 2020 - Increasing Number of Declining Reservoirs Boosting Demand - Research and Markets

Research and Markets (http://www.researchandmarkets.com/research/r2shnm/global_artificial) has announced the addition of the "Global Artificial Lift Market Size, Share, Development, Growth and Demand Forecast to 2020" report to their offering.

The continuously depleting oil reservoirs, maturing oil & gas fields, and increasing deep and ultradeep water activities, are the key drivers of the global artificial lift market. North America led the global artificial lift market in 2014, and is expected to maintain its dominance in the forecast period. North America artificial lift market is expected to grow, with the highest rate in the forecast period.

The dominance of North America artificial lift market over other regions is due to the presence of recoverable shale oil and gas resources, in the region.

The increasing number of declining reservoirs is boosting the demand for artificial lift in other regions. The decrease in number of wells, are likely to account for declination in the reservoir pressure. Since the oil production has peaked in 33 countries out of 48, including some major producers such as Russia, Mexico and Kuwait; therefore the increasing demand for artificial lift, is likely to increase its production.

The increasing shale oil and gas production is one of the major trends experienced in the global artificial lift market. The oil & gas production is increasing majorly in the basins across the United States, due to increasing precision and efficiency of horizontal drilling and hydraulic fracturing, in the oil and natural gas extraction. This is further creating an upsurge in the artificial lift market, particularly the rod lift market.

Key Topics Covered:

Chapter 1. Research Scope And Methodology

Chapter 2. Executive Summary

Chapter 3. Market Outlook

Chapter 4. Global Market Size And Forecasts (2014 - 2020)

Chapter 5. Global Artificial Lift Market Breakdown By Type

Chapter 6. Global Artificial Lift Market Breakdown By Geography

Chapter 7. Competitive Positioning And Market Share

Chapter 8. Company Profiles And Strategic Developments

Companies Mentioned:

  • Baker Hughes
  • Borets
  • Cameron International
  • Dover Corporation
  • GE Oil & Gas
  • Halliburton
  • John Crane
  • National Oilwell Varco
  • Schlumberger
  • Weatherford

For more information visit http://www.researchandmarkets.com/research/r2shnm/global_artificial

Research and Markets
Laura Wood, Senior Manager
[email protected]
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Sector: Energy and Natural Resources, Oil

Source: Business Wire (January 27, 2016 - 3:27 PM EST)

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