Technavio has been monitoring the artificial lift systems market and it is poised to grow by $ 4.26 bn during 2020-2024, progressing at a CAGR of almost 5% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Artificial Lift Systems Market 2020-2024 (Graphic: Business Wire)
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Apergy Corp., Baker Hughes Co., Dover Corp., Halliburton Co., National Oilwell Varco Inc., NOW Inc., OiLSERV, Rockwell Automation Inc., Schlumberger Ltd., and Weatherford International Plc are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Growing demand for oil and natural gas has been instrumental in driving the growth of the market. However, high maintenance cost might hamper the market growth.
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Artificial Lift Systems Market 2020-2024: Segmentation
Artificial Lift Systems Market is segmented as below:
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End-user
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Type
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ESP Systems
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RLP Systems
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PCP Systems
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Others
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Geography
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North America
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Europe
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APAC
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MEA
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South America
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Artificial Lift Systems Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The artificial lift systems market report covers the following areas:
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Artificial Lift Systems Market Size
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Artificial Lift Systems Market Trends
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Artificial Lift Systems Market Industry Analysis
This study identifies the increasing use of automation and remote technology as one of the prime reasons driving the artificial lift systems market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Artificial Lift Systems Market 2020-2024: Key Highlights
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CAGR of the market during the forecast period 2020-2024
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Detailed information on factors that will assist artificial lift systems market growth during the next five years
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Estimation of the artificial lift systems market size and its contribution to the parent market
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Predictions on upcoming trends and changes in consumer behavior
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The growth of the artificial lift systems market
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Analysis of the market’s competitive landscape and detailed information on vendors
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Comprehensive details of factors that will challenge the growth of artificial lift systems market vendors
Table of Contents:
Executive Summary
Market Landscape
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Market ecosystem
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Value chain analysis
Market Sizing
Five Forces Analysis
Market Segmentation by End-user
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Market segments
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Comparison by End-user
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Onshore oil and gas industry – Market size and forecast 2019-2024
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Offshore oil and gas industry – Market size and forecast 2019-2024
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Market opportunity by End-user
Market Segmentation by Type
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Market segments
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Comparison by Type
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ESP systems – Market size and forecast 2019-2024
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RLP systems – Market size and forecast 2019-2024
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PCP systems – Market size and forecast 2019-2024
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Others – Market size and forecast 2019-2024
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Market opportunity by Type
Customer Landscape
Geographic Landscape
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Geographic segmentation
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Geographic comparison
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North America – Market size and forecast 2019-2024
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Europe – Market size and forecast 2019-2024
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APAC – Market size and forecast 2019-2024
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MEA – Market size and forecast 2019-2024
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South America – Market size and forecast 2019-2024
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Key leading countries
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Market opportunity by geography
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Market drivers
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Market challenges
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Market trends
Vendor Landscape
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Vendor landscape
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Landscape disruption
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Competitive scenario
Vendor Analysis
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Vendors covered
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Market positioning of vendors
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Apergy Corp.
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Baker Hughes Co.
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Dover Corp.
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Halliburton Co.
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National Oilwell Varco Inc.
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NOW Inc.
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OiLSERV
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Rockwell Automation Inc.
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Schlumberger Ltd.
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Weatherford International Plc
Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200924005565/en/
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