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Subsea Artificial Lift Systems-Global Market Insights and Sales Trends 2024
Synopsis
Artificial lift is a process used on oil wells to increase pressure within the reservoir and encourage oil to the surface. When the natural drive energy of the reservoir is not strong enough to push the oil to the surface, artificial lift is employed to recover more production.
The global Subsea Artificial Lift Systems market size is expected to reach US$ million by 2029, growing at a CAGR of % from 2023 to 2029. The market is mainly driven by the significant applications of Subsea Artificial Lift Systems in various end use industries. The expanding demands from the Oil Wells and Gas Wells, are propelling Subsea Artificial Lift Systems market. Electric Submersible Pump System, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Progressive Cavity Pump System segment is estimated at % CAGR for the next seven-year period.
The rising need to increase the efficiency of existing wells is one of the key drivers stimulating growth in the market during the estimated period. The drop in global crude oil prices has severely affected the upstream oil and gas sector and the drilling market. This resulted in high rates of employee layoffs and reduced revenues in major oil and gas companies. The decline in oil price has also reduced the profit margin of the upstream exploration and production (E&P) and service provider companies. This compels the upstream E&P companies to increase the efficiency and recovery of oil from existing wells. Consequently, the demand for artificial lift techniques will increase in the forthcoming years to recover oil from existing wells, mature fields, or new wells. Furthermore, explorers are also increasingly focusing on the recovery of oil using artificial lift techniques because the recovery of oil is relatively less expensive than drilling new wells.
Report Objectives
This report provides market insight on the different segments, by players, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Subsea Artificial Lift Systems, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Subsea Artificial Lift Systems market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Subsea Artificial Lift Systems market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Subsea Artificial Lift Systems sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Subsea Artificial Lift Systems covered in this report include GE(Baker Hughes), Halliburton, National Oilwell Varco, Schlumberger, Weatherford, Borets, JJ Tech, Multi-Chase Group and NOVOMET, etc.
The global Subsea Artificial Lift Systems market report caters to various stakeholders in this industry including investors, suppliers, product players, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
GE(Baker Hughes)
Halliburton
National Oilwell Varco
Schlumberger
Weatherford
Borets
JJ Tech
Multi-Chase Group
NOVOMET
Global Subsea Artificial Lift Systems market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Subsea Artificial Lift Systems market, Segment by Type:
Electric Submersible Pump System
Progressive Cavity Pump System
Rod Lift
Global Subsea Artificial Lift Systems market, by Application
Oil Wells
Gas Wells
Core Chapters
Chapter One: Introduces the report scope of the report, executive summary of global and regional market size and CAGR for the history and forecast period (2018-2023, 2024-2029). It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter Two: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter Three: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter Four: Detailed analysis of Subsea Artificial Lift Systems companies’ competitive landscape, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Five: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product introduction, revenue, recent development, etc.
Chapter Six, Seven, Eight, Nine and Ten: North America, Europe, Asia Pacific, Latin America, Middle East & Africa, revenue by country.
Chapter Eleven: this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Research Finding/Conclusion
Artificial lift is a process used on oil wells to increase pressure within the reservoir and encourage oil to the surface. When the natural drive energy of the reservoir is not strong enough to push the oil to the surface, artificial lift is employed to recover more production.
The global Subsea Artificial Lift Systems market size is expected to reach US$ million by 2029, growing at a CAGR of % from 2023 to 2029. The market is mainly driven by the significant applications of Subsea Artificial Lift Systems in various end use industries. The expanding demands from the Oil Wells and Gas Wells, are propelling Subsea Artificial Lift Systems market. Electric Submersible Pump System, one of the segments analysed in this report, is projected to record % CAGR and reach US$ million by the end of the analysis period. Growth in the Progressive Cavity Pump System segment is estimated at % CAGR for the next seven-year period.
The rising need to increase the efficiency of existing wells is one of the key drivers stimulating growth in the market during the estimated period. The drop in global crude oil prices has severely affected the upstream oil and gas sector and the drilling market. This resulted in high rates of employee layoffs and reduced revenues in major oil and gas companies. The decline in oil price has also reduced the profit margin of the upstream exploration and production (E&P) and service provider companies. This compels the upstream E&P companies to increase the efficiency and recovery of oil from existing wells. Consequently, the demand for artificial lift techniques will increase in the forthcoming years to recover oil from existing wells, mature fields, or new wells. Furthermore, explorers are also increasingly focusing on the recovery of oil using artificial lift techniques because the recovery of oil is relatively less expensive than drilling new wells.
Report Objectives
This report provides market insight on the different segments, by players, by Type, by Application. Market size and forecast (2018-2029) has been provided in the report. The primary objectives of this report are to provide 1) global market size and forecasts, growth rates, market dynamics, industry structure and developments, market situation, trends; 2) global market share and ranking by company; 3) comprehensive presentation of the global market for Subsea Artificial Lift Systems, with both quantitative and qualitative analysis through detailed segmentation; 4) detailed value chain analysis and review of growth factors essential for the existing market players and new entrants; 5) emerging opportunities in the market and the future impact of major drivers and restraints of the market.
Key Features of The Study:
This report provides in-depth analysis of the global Subsea Artificial Lift Systems market, and provides market size (US$ million) and CAGR for the forecast period (2023-2029), considering 2022 as the base year.
This report profiles key players in the global Subsea Artificial Lift Systems market based on the following parameters - company details (found date, headquarters, manufacturing bases), products portfolio, Subsea Artificial Lift Systems sales data, market share and ranking.
This report elucidates potential market opportunities across different segments and explains attractive investment proposition matrices for this market.
This report illustrates key insights about market drivers, restraints, opportunities, market trends, regional outlook.
Key companies of Subsea Artificial Lift Systems covered in this report include GE(Baker Hughes), Halliburton, National Oilwell Varco, Schlumberger, Weatherford, Borets, JJ Tech, Multi-Chase Group and NOVOMET, etc.
The global Subsea Artificial Lift Systems market report caters to various stakeholders in this industry including investors, suppliers, product players, distributors, new entrants, and financial analysts.
Market Segmentation
Company Profiles:
GE(Baker Hughes)
Halliburton
National Oilwell Varco
Schlumberger
Weatherford
Borets
JJ Tech
Multi-Chase Group
NOVOMET
Global Subsea Artificial Lift Systems market, by region:
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, etc.)
Asia Pacific (China, Japan, South Korea, Southeast Asia, India, etc.)
South America (Brazil, etc.)
Middle East and Africa (Turkey, GCC Countries, Africa, etc.)
Global Subsea Artificial Lift Systems market, Segment by Type:
Electric Submersible Pump System
Progressive Cavity Pump System
Rod Lift
Global Subsea Artificial Lift Systems market, by Application
Oil Wells
Gas Wells
Core Chapters
Chapter One: Introduces the report scope of the report, executive summary of global and regional market size and CAGR for the history and forecast period (2018-2023, 2024-2029). It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter Two: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter Three: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter Four: Detailed analysis of Subsea Artificial Lift Systems companies’ competitive landscape, revenue, market share and ranking, latest development plan, merger, and acquisition information, etc.
Chapter Five: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product introduction, revenue, recent development, etc.
Chapter Six, Seven, Eight, Nine and Ten: North America, Europe, Asia Pacific, Latin America, Middle East & Africa, revenue by country.
Chapter Eleven: this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter Twelve: Research Finding/Conclusion
Index1 Market Overview of Subsea Artificial Lift Systems
1.1 Subsea Artificial Lift Systems Market Overview
1.1.1 Subsea Artificial Lift Systems Product Scope
1.1.2 Subsea Artificial Lift Systems Market Status and Outlook
1.2 Global Subsea Artificial Lift Systems Market Size Overview by Region 2018 VS 2022 VS 2029
1.3 Global Subsea Artificial Lift Systems Market Size by Region (2018-2029)
1.4 Global Subsea Artificial Lift Systems Historic Market Size by Region (2018-2023)
1.5 Global Subsea Artificial Lift Systems Market Size Forecast by Region (2024-2029)
1.6 Key Regions, Subsea Artificial Lift Systems Market Size (2018-2029)
1.6.1 North America Subsea Artificial Lift Systems Market Size (2018-2029)
1.6.2 Europe Subsea Artificial Lift Systems Market Size (2018-2029)
1.6.3 Asia-Pacific Subsea Artificial Lift Systems Market Size (2018-2029)
1.6.4 Latin America Subsea Artificial Lift Systems Market Size (2018-2029)
1.6.5 Middle East & Africa Subsea Artificial Lift Systems Market Size (2018-2029)
2 Subsea Artificial Lift Systems Market by Type
2.1 Introduction
2.1.1 Electric Submersible Pump System
2.1.2 Progressive Cavity Pump System
2.1.3 Rod Lift
2.2 Global Subsea Artificial Lift Systems Market Size by Type: 2018 VS 2022 VS 2029
2.2.1 Global Subsea Artificial Lift Systems Historic Market Size by Type (2018-2023)
2.2.2 Global Subsea Artificial Lift Systems Forecasted Market Size by Type (2024-2029)
2.3 Key Regions Market Size by Type
2.3.1 North America Subsea Artificial Lift Systems Revenue Breakdown by Type (2018-2029)
2.3.2 Europe Subsea Artificial Lift Systems Revenue Breakdown by Type (2018-2029)
2.3.3 Asia-Pacific Subsea Artificial Lift Systems Revenue Breakdown by Type (2018-2029)
2.3.4 Latin America Subsea Artificial Lift Systems Revenue Breakdown by Type (2018-2029)
2.3.5 Middle East and Africa Subsea Artificial Lift Systems Revenue Breakdown by Type (2018-2029)
3 Subsea Artificial Lift Systems Market Overview by Application
3.1 Introduction
3.1.1 Oil Wells
3.1.2 Gas Wells
3.2 Global Subsea Artificial Lift Systems Market Size by Application: 2018 VS 2022 VS 2029
3.2.1 Global Subsea Artificial Lift Systems Historic Market Size by Application (2018-2023)
3.2.2 Global Subsea Artificial Lift Systems Forecasted Market Size by Application (2024-2029)
3.3 Key Regions Market Size by Application
3.3.1 North America Subsea Artificial Lift Systems Revenue Breakdown by Application (2018-2029)
3.3.2 Europe Subsea Artificial Lift Systems Revenue Breakdown by Application (2018-2029)
3.3.3 Asia-Pacific Subsea Artificial Lift Systems Revenue Breakdown by Application (2018-2029)
3.3.4 Latin America Subsea Artificial Lift Systems Revenue Breakdown by Application (2018-2029)
3.3.5 Middle East and Africa Subsea Artificial Lift Systems Revenue Breakdown by Application (2018-2029)
4 Subsea Artificial Lift Systems Competition Analysis by Players
4.1 Global Subsea Artificial Lift Systems Market Size by Players (2018-2023)
4.2 Global Top Players by Company Type (Tier 1, Tier 2 and Tier 3) & (based on the Revenue in Subsea Artificial Lift Systems as of 2022)
4.3 Date of Key Players Enter into Subsea Artificial Lift Systems Market
4.4 Global Top Players Subsea Artificial Lift Systems Headquarters and Area Served
4.5 Key Players Subsea Artificial Lift Systems Product Solution and Service
4.6 Competitive Status
4.6.1 Subsea Artificial Lift Systems Market Concentration Rate
4.6.2 Mergers & Acquisitions, Expansion Plans
5 Company (Top Players) Profiles
5.1 GE(Baker Hughes)
5.1.1 GE(Baker Hughes) Profile
5.1.2 GE(Baker Hughes) Main Business
5.1.3 GE(Baker Hughes) Subsea Artificial Lift Systems Products, Services and Solutions
5.1.4 GE(Baker Hughes) Subsea Artificial Lift Systems Revenue (US$ Million) & (2018-2023)
5.1.5 GE(Baker Hughes) Recent Developments
5.2 Halliburton
5.2.1 Halliburton Profile
5.2.2 Halliburton Main Business
5.2.3 Halliburton Subsea Artificial Lift Systems Products, Services and Solutions
5.2.4 Halliburton Subsea Artificial Lift Systems Revenue (US$ Million) & (2018-2023)
5.2.5 Halliburton Recent Developments
5.3 National Oilwell Varco
5.3.1 National Oilwell Varco Profile
5.3.2 National Oilwell Varco Main Business
5.3.3 National Oilwell Varco Subsea Artificial Lift Systems Products, Services and Solutions
5.3.4 National Oilwell Varco Subsea Artificial Lift Systems Revenue (US$ Million) & (2018-2023)
5.3.5 Schlumberger Recent Developments
5.4 Schlumberger
5.4.1 Schlumberger Profile
5.4.2 Schlumberger Main Business
5.4.3 Schlumberger Subsea Artificial Lift Systems Products, Services and Solutions
5.4.4 Schlumberger Subsea Artificial Lift Systems Revenue (US$ Million) & (2018-2023)
5.4.5 Schlumberger Recent Developments
5.5 Weatherford
5.5.1 Weatherford Profile
5.5.2 Weatherford Main Business
5.5.3 Weatherford Subsea Artificial Lift Systems Products, Services and Solutions
5.5.4 Weatherford Subsea Artificial Lift Systems Revenue (US$ Million) & (2018-2023)
5.5.5 Weatherford Recent Developments
5.6 Borets
5.6.1 Borets Profile
5.6.2 Borets Main Business
5.6.3 Borets Subsea Artificial Lift Systems Products, Services and Solutions
5.6.4 Borets Subsea Artificial Lift Systems Revenue (US$ Million) & (2018-2023)
5.6.5 Borets Recent Developments
5.7 JJ Tech
5.7.1 JJ Tech Profile
5.7.2 JJ Tech Main Business
5.7.3 JJ Tech Subsea Artificial Lift Systems Products, Services and Solutions
5.7.4 JJ Tech Subsea Artificial Lift Systems Revenue (US$ Million) & (2018-2023)
5.7.5 JJ Tech Recent Developments
5.8 Multi-Chase Group
5.8.1 Multi-Chase Group Profile
5.8.2 Multi-Chase Group Main Business
5.8.3 Multi-Chase Group Subsea Artificial Lift Systems Products, Services and Solutions
5.8.4 Multi-Chase Group Subsea Artificial Lift Systems Revenue (US$ Million) & (2018-2023)
5.8.5 Multi-Chase Group Recent Developments
5.9 NOVOMET
5.9.1 NOVOMET Profile
5.9.2 NOVOMET Main Business
5.9.3 NOVOMET Subsea Artificial Lift Systems Products, Services and Solutions
5.9.4 NOVOMET Subsea Artificial Lift Systems Revenue (US$ Million) & (2018-2023)
5.9.5 NOVOMET Recent Developments
6 North America
6.1 North America Subsea Artificial Lift Systems Market Size by Country (2018-2029)
6.2 U.S.
6.3 Canada
7 Europe
7.1 Europe Subsea Artificial Lift Systems Market Size by Country (2018-2029)
7.2 Germany
7.3 France
7.4 U.K.
7.5 Italy
7.6 Russia
7.7 Nordic Countries
7.8 Rest of Europe
8 Asia-Pacific
8.1 Asia-Pacific Subsea Artificial Lift Systems Market Size by Region (2018-2029)
8.2 China
8.3 Japan
8.4 South Korea
8.5 Southeast Asia
8.6 India
8.7 Australia
8.8 Rest of Asia-Pacific
9 Latin America
9.1 Latin America Subsea Artificial Lift Systems Market Size by Country (2018-2029)
9.2 Mexico
9.3 Brazil
9.4 Rest of Latin America
10 Middle East & Africa
10.1 Middle East & Africa Subsea Artificial Lift Systems Market Size by Country (2018-2029)
10.2 Turkey
10.3 Saudi Arabia
10.4 UAE
10.5 Rest of Middle East & Africa
11 Subsea Artificial Lift Systems Market Dynamics
11.1 Subsea Artificial Lift Systems Industry Trends
11.2 Subsea Artificial Lift Systems Market Drivers
11.3 Subsea Artificial Lift Systems Market Challenges
11.4 Subsea Artificial Lift Systems Market Restraints
12 Research Finding /Conclusion
13 Methodology and Data Source
13.1 Methodology/Research Approach
13.1.1 Research Programs/Design
13.1.2 Market Size Estimation
13.1.3 Market Breakdown and Data Triangulation
13.2 Data Source
13.2.1 Secondary Sources
13.2.2 Primary Sources
13.3 Disclaimer
13.4 Author List
Published By : QY Research
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