Market Research Report Store Artificial Lift Market Projected to reach USD 9.69

"Artificial Lift Market Projected to reach USD 9.69 billion by 2021, growing at a CAGR of 4.91% from 2016 to 2021" published in June 2017. It is a professional and in-depth study. Summary Market Research Report Store announces a new report＂Artificial Lift Market＂added to its database.The artificial lift market is projected to reach USD 9.69 billion by 2021, growing at a CAGR of 4.91% from 2016 to 2021. Artificial lift systems are used in onshore and offshore applications. Production activities in oil rich countries and increasing shale gas production in North America and the Asia-Pacific regions are expected to drive the artificial lift market. Detailed TOC Of Report @ https://www.marketresearchreportstore.com/ Ask a sample, click here [email protected] “The electrical submersible pumps segment is expected to grow at the highest CAGR from 2016 to 2021” Based on type of artificial lift systems, the electrical submersible pumps segment is estimated to be the fastest growing market from 2016 to 2021. These pumps are used in low-sand oilfields, low-carbonate reservoirs, and highly deviated wells. Also, these pumps are usually used for offshore applications due to their ability to handle high-volume wells. The production efficiency of ESP is sustained even at depths of about 4,000 m. Its sustained performance and high operating volumes provides it a competitive edge over the other pumps. “North America: The largest market for artificial lift” North America is currently the largest market for artificial lifts, followed by Europe and the Asia-Pacific. The North American market is driven by presence of large number of mature oilfields and increasing shale gas production in the region. The market in the North American region is projected to grow at a moderate rate, with the U.S. expected to dominate the market. The rod lift method is the major artificial lift method used in North America because of its onshore production capabilities. Breakdown of Primaries: In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows: