Artificial Lift Systems Market is on its Highest Boom. Americas is the dominant region with U.S leading the charge | Automation.com

Artificial Lift Systems Market is on its Highest Boom. Americas is the dominant region with U.S leading the charge

Artificial Lift Systems Market is on its Highest Boom. Americas is the dominant region with U.S leading the charge

Artificial Lift Systems are used in oil and gas reservoirs to increase the production. Majority of the existing reservoirs in the world are in mature stage and have lost the natural pressure to move the oil and gas on to the surface. Artificial lifts help in raising the pressure in the oil wells, so the oil flows easily on to the surface.  Henceforth, artificial lift systems are used to obtain the oil from deeper oil wells to the surface. This drives the need of Artificial Lift Systems Market.

The Artificial Lift market is increasing at a considerable rate due to the discovery of shale gas and increase in the exploration activities by the companies, mainly in North America. The report study includes the demand of this particular market on a global and regional scale for a five-year period of 2015-2021, both in terms of volume (Units) and revenue ($billion).

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Types of artificial lift include:

·         Reciprocating Rod Lift,

·         Electrical Submersible Pump (ESP),

·         Progressive Cavity Pump (PCP),

·         Gas Lift Systems,

·         Hydraulic Jet Pump and Plunger Lift.  

Rod lift method is also known as beam pumping is one of the oldest and significantly used types of artificial lift. It is used to extract heavy viscous crude oil at high temperatures.

Various components such as Pump, Motor, Pump Jack, Drive Head, Cable System, Sucker Rods, Gas Lift Valves, Gas Lift Mandrel, Separators and Control system are integrated to form the artificial lift system. Subsequently, artificial lift systems market is categorized based on mechanism which includes positive displacement, dynamic displacement and gas assisted.

America is the dominant region for artificial lift systems market with U.S leading the charge. Asia-Pacific is projected to have highest growth in the next few years due to growing adoption of artificial lifts in oil and gas applications.

Among a wide range of manufacturers, few of the major players that contribute to the artificial lift systems market are:

  • Baker Hughes Incorporated
  • Dover Corporation
  • General Electric Company
  • Halliburton Company, LLC.
  • John Crane Group

Artificial Lift Market is an industrial market that is beneficial for extracting industries and it’s a thriving market since there is huge demand of oil and gas. This demand drives this market to produce more efficient systems.

Make an Inquiry @http://industryarc.com/inquiry-before-buying.php?id=10607

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