(PRWEB) July 25, 2014
The North America Artificial lift market report defines and segments the artificial lift market in North America with analysis and forecast of revenue. The artificial lift market in North America is estimated to grow from around $4.7 billion in 2013 to around $7 billion by 2018, at a CAGR of 8.3% from 2013 to 2018.
Browse through the TOC of North America artificial lift market report, to get an idea of in-depth analysis provided. This also provides a glimpse of the segmentation in North America Artificial lift market, and is supported by various tables and figures.
The Artificial lift services are critical for enhanced crude oil production, to increase demand for energy and fossil fuels, and for heavy crude oil extraction at deep and ultra-deep water levels offshore. In addition, the technological advancements have made shale oil production commercially viable, and the redevelopment of maturing fields is another factor to drive the artificial lift services market.
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The U.S. is the biggest consumer of hydrocarbon oil and gas; it is the third largest producer of fossil fuels. Enhanced oil recovery process (EOR) at U.S. accounts for 16.6%; it follows the Middle East. The offshore well count in North America is growing at a rapid rate and will continue to act as a driver for the artificial lift market.
This market is segmented and forecasted on the basis of types and geography. Segmentation by types of artificial lift includes Rod lift, ESP, PCP, Gas lift and others. The market is further segmented and forecasted on the basis of major countries such as U.S. and Canada.
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This report also includes market share, supply chain, value chain analyses and market metrics such as drivers and restraints. In addition, it presents competitive landscape and company profiles of key players in this market including major companies which provide artificial lifts.
Europe Artificial Lift Services Market
The European Artificial Lift Services market was valued at $3.5 billion in 2013 and projected to grow at CAGR of 8.8% till 2018.The European Artificial Lift Services Market is segmented by types which covers Rod Lift, ESP, PCP, Gas Lift and Others. The services market is split by geography which includes countries such as Russia, UK, Norway and Others.The artificial lift services report comprises profiles of some major participants in the market, which combines manufacturers as well as service providers such as Weatherford International Ltd (Switzerland), Schlumberger (U.S.), Baker Hughes (U.S.) and others.
South & Central America Artificial Lift Services Market
South & Central American artificial services market was valued at $118.1m in the year 2013 and is projected to reach $218.4m by the end of the year 2018 at a CAGR of 13.1%.South & Central American artificial services market constitutes 28.9% of Global Artificial Lift Services market and is poised to grow its market share to 28.4% by the end of year 2018.
It is segmented on basis of geographies.The North American Artificial Lift market was valued at $4.6 billion in 2013 and is projected to reach $6.9 billion by 2018 at a CAGR of 8.3% .The North America Artificial lift services market has been segmented on the basis of type such as Rod Lift, ESP, PCP, Gas Lift and geographies which includes US and Canada.
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