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SOURCE Research and Markets
DUBLIN, Feb. 7, 2014 /PRNewswire/ --Research and Markets (http://www.researchandmarkets.com/research/b3thnp/artificial_lift ) has announced the addition of the "Artificial Lift Systems Market by Type, Component & Countries - Trends & Forecast to 2018" report to their offering.(Logo: http://photos.prnewswire.com/prnh/20130307/600769)
This report covers the artificial lift component market by key countries, which include U.S., Canada, Russia, China, and Venezuela. It provides detailed segmentation of artificial lift component market on the basis of types including ESPs, PCPs, and rod lift. It also segments the market into components, along with its estimation till 2018. The global artificial lift systems market is witnessing high growth of around 9.5% on an account of increased utilization, technological advancements, and growing oil production activities in the major oil importing and exporting countries. The artificial lift systems market is composed of component markets of all lift types and further component market consist replacement and new installation market.
Due to low run life of some components such as pump, motor with respect to other components, E&P companies spending on component replacement makes up a large sub-market within the artificial lift systems market and with the rise in installed base of lift system the component replacement market grows in an similar manner. Currently, Russia, U.S., and Canada are the biggest pump replacement market on the globe for ESPs, Rod lift and PCPs. The component replacement market is also emerging in other countries, namely China and Venezuela. In countries such as U.S., Russia, and Canada unconventional hydrocarbon production, heavy oil & CBM gas production has provided an opportunity for ESPs, PCPs, and rod lifts, thus widening the market revenue for the manufacturers and providing a boost to the artificial lift component market.
The key manufacturers of artificial lift systems components such as: Weatherford International Ltd (Switzerland), Schlumberger Ltd (U.S.), Baker Hughes Incorporated (U.S.), GE Energy (U.S), JSC Alnas (Russia), National Oil Varco Inc. (U.S.), Tenaris S.A. (Luxembourg) ands= Kudu Industries Inc. (Canada) are investing in mergers & acquisitions and business expansion activities to expand its product line and geographical reach.
Key Topics Covered:
5. Artificial Lift Systems Component Market, By Installations
6.Artificial Lift Systems Component Market, By Country
For more information visit http://www.researchandmarkets.com/research/b3thnp/artificial_lift
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