MRO Magazine

Global Artificial Lift Pumps Market to Grow 1.56% by 2020 – Key Vendors are Baker Hughes, Dover & Weatherford – Research and Markets


July 8, 2016
By Business Wire News

DUBLIN

Research and Markets has announced the addition of the “Global Artificial Lift Pumps Market 2016-2020” report to their offering.

The report forecasts the global artificial lift pumps market to grow at a CAGR of 1.56% during the period 2016-2020.

The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

One trend inciting growth in this market is the emergence of the microgrid technology. 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. A production power microgrid 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.

According to the report, one driver impelling this market’s growth prospects is the use of jet pumps for rig-free lift operations. Jet pump lifting systems constitute a breakthrough technology that can be used to achieve high-volume production where most other lift methods fail.

Further, the report states that deferred investments and projects will act as a major challenge for this market. The oil industry is going through a period of turmoil wherein the prices have fallen sharply and reached an all-time low.

Key vendors:

  • Baker Hughes
  • Dover
  • GE-Alstom Grid
  • Schlumberger
  • Weatherford

Key Topics Covered:

PART 01: Executive summary

PART 02: Scope of the report

PART 03: Market research methodology

PART 04: Introduction

PART 05: Market landscape

PART 06: Market drivers

PART 07: Impact of drivers

PART 08: Market challenges

PART 09: Impact of drivers and challenges

PART 10: Market trends

PART 11: Market segmentation by type

PART 12: Geographical segmentation

PART 13: Vendor landscape

PART 14: Key vendor analysis

PART 15: Appendix

For more information visit http://www.researchandmarkets.com/research/34wt3r/global_artificial

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
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Sector: Pumps