ARTIFICIAL LIFT SYSTEMS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Market Concentration and Competitive Landscape

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Along with conventional vertical wells, the oil and gas industry has witnessed rising popularity of directional and horizontal drilling in the last few decades. Both inclined and horizontal well setups have their distinct advantages for certain reservoirs and formations. However, these also introduce challenges from an artificial lift standpoint. The longer laterals of horizontal wells mean fluid must work against gravity as it flows upwards through longer sections. Similarly, at deeper inclined angles fluid mobility is reduced. This makes it more difficult for the formation's natural pressure to lift the fluids on its own. Thus, artificial lift becomes essential to effectively produce from wells with complex trajectories. The number of directional and horizontal wells being drilled has increased substantially worldwide. Various basins like the Permian, where tighter spacing and maximum drainage is important, have shifted heavily towards horizontal and directional drilling. With sophisticated steering tools enabling more complex well paths, artificial lift solutions tailored for inclined and horizontal wells have become an important tool. As unconventional resource plays and hard to recover reserves are increasingly tapped, deployment of artificial lift systems will be crucial to optimize production from wells with non-vertical boreholes.

• GE Oil and Gas
• John Crane Group
• Baker Hughes Company
• Apergy
• Borets International
• Schlumberger
• Haliburton
• Dover Corporation
• AccessESP
• Novomet
• National Oil Well Varco Inc.
• Weatherford
• OILSERV
• JJ Tech
• Flotek Industries Inc.
• Schlumberger
• cairn Oil & Gas
• Alkhorayeh Petroleum Services Limited