Technavio Announces Top Nine Vendors in the Global Artificial Lift Pumps Market from 2016 to 2020
Technavio
has announced the top nine leading vendors in their recent global
artificial lift pumps market report until 2020. The
vendors are identified based on their revenue and market dominance in
terms of experience, geographical presence, product portfolio,
financials, and R&D.
Competitive vendor landscape
Oil exploration and production is a complex process, and each step of
the oil supply chain involves advanced technology. Most oil companies,
containing vertically integrated giants like Chevron and Exxon
Mobil, do not manufacture the equipment required to perform all
these difficult and expensive tasks. Rather, oil companies turn to
engineering firms that manufacture and operate the oil rigs, tankers,
and pipelines that are key components of the industry. These oilfield
services companies deliver the infrastructure, equipment, intellectual
property, and services required by the global oil and gas industry
including exploration, extraction, and transportation of crude oil and
natural gas from the earth to the refinery, and finally to the consumer.
Artificial lift equipment is marred by electrical unreliability and
power quality problems, which can result in lost production, hardware
failure, high CAPEX, increased energy costs, and grid blackouts.
Globally, the majority of oil drilling rigs are located in remote
outposts and do not have access to electricity grids.
“Microgrid technology, which is an evolving trend in the market, can
solve these problems by automatically delivering or receiving precise,
high-power pulses with millisecond accuracy, basically cleaning the
electrical power flowing to and from the artificial lift motor,” says
Gaurav Mohindru, a lead analyst at Technavio for unit
operations research.
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Technavio research analysts categorize the global artificial lift
pumps market vendors into two segments: key vendors and other prominent
vendors
Key vendors:
Baker Hughes
Baker Hughes was founded in 1997 and is headquartered in Texas, US. The
company is involved in the design, manufacture, and distribution of
wellbores related to oil and gas reservoirs with high-performance
drilling, evaluation, technologies, reservoir consulting services and
integrated operations.
The company provides field development and production enhancement
services such as well stimulation, sand control, cementing, completion
tools, downhole tools, and casing and tubular running services for oil
and natural gas wells.
Dover Artificial Lift
Dover was founded in 2009 and is headquartered in Texas, US. The company
provides designing and manufacturing of artificial lift equipment and
solutions to oil and gas producers in the US and worldwide.
The company offers sucker rods, sinker bars, injection-molded rod guides
for rod wear reduction, downhole pumps lift subs, and centralized flex
bars and lift subs, well-servicing tools; gas lifts, progressing cavity
pump systems, and plunger lift products.
GE-Alstom Grid
GE was founded in 1892 and is headquartered in Connecticut, US. The
company is involved in the manufacture and distribution of products and
services including aircraft engines, oil and gas production equipment,
power generation, business and consumer financing, and industrial
products.
GE is one of the major players in the global artificial lift pumps
market. GE's portfolio of products includes time-tested artificial lift
applications from Lufkin Industries in addition to its ESP systems,
which provide maximum performance in difficult conditions.
Schlumberger
Schlumberger was founded in 1926 and is headquartered in Houston, Texas,
US. It is known for providing integrated project management, and
information solutions to the oil and gas as well as production
industries. It employs approximately 120,000 people.
Schlumberger is one of the major players in global artificial lift pumps
market. The product portfolio of the company includes ESPs, gas lifts,
horizontal surface pumps, sucker rod pumping, progressing cavity pumps,
surface electrical equipment and services, artificial lift applications
(subsea lift systems, industrial pump systems, and dewatering pump
systems), and real-time monitoring and optimization.
Weatherford International
Weatherford International was founded in 1972 and is headquartered in
Baar, Switzerland. It is a multinational oilfield service company, which
offers innovative solutions, technology, and services.
Weatherford International is one the major players in the global
artificial lift pumps market. The company provides extensive solutions
for all forms of artificial lift pumps. It has over 730 manufacturing
services and distribution facilities worldwide.
Other prominent vendors:
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Company
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Description
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Aker Solutions
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Oil field services company with 15,000 employees and a presence in
20 countries. Provides technical expertise in oil field services.
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Petrofac
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Petrofac is an oilfield service company with 19,000 employees and a
presence in 29 countries. Petrofac has an expertise of 35 years.
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Technip
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Established in 1958, Technip has an employee strength of over 33,000
employees and is present in 45 countries. Technip had an adjusted
revenue of USD 13.6 billion in 2015.
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Transocean
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Established in 1920, Transocean has an expertise of around 100 years
and is present in all the prominent oil-producing regions across the
globe.
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About Technavio
Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.
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at media@technavio.com.
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