| Study Period | 2020 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| CAGR | 4.50% |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Artificial Lift Systems Market Analysis
The Artificial Lift System Market is expected to register a CAGR of greater than 4.5% during the forecast period.
- An electric submersible pump (ESP) is preferred as the most suitable choice for usage in large oil wells that reached or crossed their peak oil production phase. In addition, the availability of abundant resources, coupled with an increase in investments, is expected to boost the offshore electric submersible pump market. This, in turn, is expected to drive the artificial lift market during the forecast period.
- The majority of the new fields and the older fields require an artificial lift of some form for production. Hence, all the major companies are regularly adopting artificial lifts in almost all wells. As the number of new exploration fields is increasing, these fields are expected to provide major opportunities for the artificial lift system market.
- North America dominated the market across the globe in 2021, with the majority of the demand coming from the United States. This trend is expected to continue as the rise in global prices may further help in continuing the mature oil fields.
Artificial Lift Systems Market Trends
Electric Submersible Pump (ESP) System to Dominate the Market
- Most of the oil & gas fields operating have been in production for a few decades. They are either mature or at the end of their production life. Global consumption is increasing as the population, urbanization & industrialization are increasing worldwide, especially in developing economies.
- Electric submersible pumps (ESPs) are preferred as the most suitable choices for usage in large oil wells that reached or crossed their peak oil production phase and required further developments to enhance the production rates. This is relatively more prevalent in Middle Eastern countries, where many oilfields are mature and require the employment of artificial lift systems.
- An onshore electric submersible pump is projected to witness decent growth in demand, owing to the increasing number of mature fields in the sector. Growing focus toward heavy oil reservoirs, coupled with the requirement of ESP systems in shale reservoirs, is further expected to drive the business growth and artificial lift market.
- Moreover, the oil and gas industry in the United States is projected to provide a considerable impetus to the submersible pump market on account of widespread investments lined up in oil and gas projects in the coming years. Such robust growth in terms of new projects is projected to create a demand for new ESPs and gas lift systems, i.e., artificial lift systems in the United States, in the long run.
- Furthermore, Asia-Pacific is one of the fastest-growing markets for ESP. Russia is the primary demand center for the ESPs in the region. The country is working on increasing the production output from established fields, especially in the Siberian region, where a lot of new gas fields are being opened to meet the demand coming from China.
- Hence, Electric submersible pumps are expected to dominate the market due to their flexibility in usage and new innovations in technology.
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North America to Dominate the Market Growth
- North America dominated the global artificial lift systems market in 2021, owing to the shale discoveries, exploration & production activities have noticeably increased in the region.
- The market players operating in the region are planning to develop larger multi-well facilities. For this purpose, the companies are employing artificial lift technologies with the latest techniques to increase production, which is likely to boost the demand for artificial lift systems in the region during the forecast period.
- The extensive availability of technologies and fossil fuel reserves are likely to be a major driving factor for market growth. Adding to this, the surging focus in the region toward mature oil fields in tandem with the humongous investments across the upstream sector will also help propel the artificial lift systems market in the United States.
- Besides this, a growing number of matured oilfields in the region are likely to add to the demand for artificial lift systems to improve the productivity of the matured fields. Many of these fields are expected to come from Permian Basin as it has been producing a high amount of oil and gas in the last two decades.
- However, the growing movement against oil and gas in the country due to its large carbon emissions are expected to restrain the market.
- In June 2021, Oil Dynamics GmbH upgraded the two wells for an oilfield operator who decided to renew and enhance pumping equipment at its site near Hannover, Germany. Oil Dynamics upgraded the wells from Progressing Cavity Pumps (PCPs) to Electric Submersible Pumps (ESPs). Investment in Modernization of oil fields are expected to aid the growth of the market.
- Hence, the North American continent is expected to dominate the market due to a large number of matured oil and gas fields and growing demand for energy on the continent.
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Artificial Lift Systems Industry Overview
The artificial lift system market is moderately fragmented. Some of the key players in this market include Baker Hughes Co, Dover Artificial Lift, Flotek Industries Inc.,Halliburton, Schlumberger Limited, Weatherford International Ltd., and others.
Artificial Lift Systems Market Leaders
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Halliburton Company
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Schlumberger Limited.
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Weatherford International Ltd
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Baker Hughes Co
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Dover Corp
- *Disclaimer: Major Players sorted in no particular order
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Artificial Lift Systems Market News
- In February 2022, the Upwing Magnetic Drive System (MDS) hermetically isolates all the failure-prone electrical components from the harsh production fluids by placing them in the well's annulus as part of the permanent completion. It also simplifies deployment and intervention using a slickline for the system's mechanical string.
- In August 2021, ChampionX Technologies launched XSPOC production optimization software to deliver greater efficiencies in wells on artificial lift.
- In April 2021, Microsoft Azure allowed for the deployment of Ambyint's production and artificial lift optimization applications into Energy and Power (E&P) companies' existing Azure environments.
Artificial Lift Systems Industry Segmentation
The artificial lift system market report includes:
| Type | Electric Submersible Pump System |
| Progressive Cavity Pump System | |
| Rod Lift System | |
| Others | |
| Geography | North America |
| Asia-Pacific | |
| Europe | |
| South America | |
| Middle-East and Africa |
Type
| Electric Submersible Pump System |
| Progressive Cavity Pump System |
| Rod Lift System |
| Others |
Geography
| North America |
| Asia-Pacific |
| Europe |
| South America |
| Middle-East and Africa |
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Artificial Lift Systems Market Research FAQs
What is the current Artificial Lift System Market size?
The Artificial Lift System Market is projected to register a CAGR of greater than 4.5% during the forecast period (2025-2030)
Who are the key players in Artificial Lift System Market?
Halliburton Company, Schlumberger Limited., Weatherford International Ltd, Baker Hughes Co and Dover Corp are the major companies operating in the Artificial Lift System Market.
Which is the fastest growing region in Artificial Lift System Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in Artificial Lift System Market?
In 2025, the North America accounts for the largest market share in Artificial Lift System Market.
What years does this Artificial Lift System Market cover?
The report covers the Artificial Lift System Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Artificial Lift System Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Artificial Lift Systems Industry Report
Statistics for the 2025 Artificial Lift System market share, size and revenue growth rate, created by Mordor Intelligenceâ„¢ Industry Reports. Artificial Lift System analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
