Artificial Lift System Market: By Technology, Electrical Submersible Pumps, Gas Lift, Rod Lift, Hydraulic Pumps Others) Application and Geography
Artificial Lift System Market size was valued at US$ 27.4 billion in 2023, growing at a CAGR of 7.6% from 2024 to 2030. The global market provides a detailed overview of the market and can be segmented by technology, and application. Technology has segmented the global market into Progressive Cavity Pumps (PCP), Electrical Submersible Pumps (ESP), Gas Lift, Rod Lift, Hydraulic Pumps Others. The Progressive Cavity Pumps (PCP) Artificial Lift System segment is likely to be the largest and fastest-growing segment in terms of technology. Based on Application, the global market is segmented into Onshore and offshore. Among these, the offshore segment is expected to have the fastest-growing market during the forecast period
Study Period
2024-2030Base Year
2023CAGR
7.6%Largest Market
North AmericaFastest Growing Market
Asia Pacific
Growing demand for automating customer care services and advanced technologies such as Artificial Intelligence (AI) and machine learning technologies are anticipated to propel the market growth over the forecast years.
Moreover, the increasing preference for cloud-based contact center solutions is burgeoned the market growth over the forecast years
Report Benchmarks |
Details |
Report Study Period |
2024-2030 |
Market Size in 2023 |
US$ 27.4 billion |
Market CAGR |
7.6% |
By Technology |
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By Application |
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By Region |
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The global artificial lift system market size was valued at US$ 27.4 billion in 2023, and is growing at a CAGR of 7.6% from 2024 to 2030.
Asia Pacific is the fastest growing region in the market.
The major key players of the market are Schlumberger Limited, Weatherford International Plc, Baker Hughes, a GE Company, Apergy Corporation, Borets International Limited, Superior Energy Services, Inc, National Oilwell Varco, Halliburton Inc., Occidental Petroleum Corporation, Flowco Production Solutions
1. Executive Summary |
2. Global Artificial Lift System Market Introduction |
2.1. Global Artificial Lift System Market - Taxonomy |
2.2. Global Artificial Lift System Market -Definitions |
2.2.1. By Technology |
2.2.2. By Application |
3. Global Artificial Lift System Market Dynamics |
3.1. Drivers |
3.2. Restraints |
3.3. Opportunities/Unmet Needs of the Market |
3.4. Trends |
3.5. Global Artificial Lift System Market Dynamic Factors - Impact Analysis |
3.6. Global Artificial Lift System Market - Competition Landscape |
4. Global Artificial Lift System Market Analysis, 2019-2023 and Forecast, 2024-2030 |
4.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
4.3. Market Opportunity Analysis |
5. Global Artificial Lift System Market, By Technology, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
5.1. Progressive Cavity Pumps (PCP) |
5.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.1.3. Market Opportunity Analysis |
5.2. Electrical Submersible Pumps (ESP) |
5.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.2.3. Market Opportunity Analysis |
5.3. Gas Lift |
5.3.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.3.3. Market Opportunity Analysis |
5.4. Rod Lift |
5.4.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
5.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.4.3. Market Opportunity Analysis |
5.5. Hydraulic Pumps |
5.5.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
5.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.5.3. Market Opportunity Analysis |
5.6. Others |
5.6.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
5.6.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
5.6.3. Market Opportunity Analysis |
6. Global Artificial Lift System Market Forecast, By Application, 2019-2023 and Forecast, 2024-2030 |
6.1. Onshore |
6.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.1.3. Market Opportunity Analysis |
6.2. Offshore |
6.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
6.2.3. Market Opportunity Analysis |
7. Global Artificial Lift System Market Forecast, By Region, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
7.1. North America |
7.1.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.1.3. Market Opportunity Analysis |
7.2. Europe |
7.2.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.2.3. Market Opportunity Analysis |
7.3. Asia-Pacific |
7.3.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.3.3. Market Opportunity Analysis |
7.4. Latin America |
7.4.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.4.3. Market Opportunity Analysis |
7.5. Middle East and Africa |
7.5.1. Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
7.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
7.5.3. Market Opportunity Analysis |
7.6. Global Artificial Lift System Market - Opportunity Analysis Index, By Technology, By Application, and Region, 2024-2030 |
8. North America Artificial Lift System Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
8.1. Technology Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
8.1.1. Progressive Cavity Pumps (PCP) |
8.1.2. Electrical Submersible Pumps (ESP) |
8.1.3. Gas Lift |
8.1.4. Rod Lift |
8.1.5. Hydraulic Pumps |
8.1.6. Others |
8.2. Application Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
8.2.1. Onshore |
8.2.2. Offshore |
8.3. Country Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
8.3.1. USA |
8.3.2. Canada |
8.4. North America Artificial Lift System Market - Opportunity Analysis Index, By Technology, By Application, and Country, 2024-2030 |
8.5. North America Artificial Lift System Market Dynamics - Trends |
9. Europe Artificial Lift System Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
9.1. Technology Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
9.1.1. Progressive Cavity Pumps (PCP) |
9.1.2. Electrical Submersible Pumps (ESP) |
9.1.3. Gas Lift |
9.1.4. Rod Lift |
9.1.5. Hydraulic Pumps |
9.1.6. Others |
9.2. Application Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
9.2.1. Onshore |
9.2.2. Offshore |
9.3. Country Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
9.3.1. Germany |
9.3.2. UK |
9.3.3. France |
9.3.4. Spain |
9.3.5. Italy |
9.3.6. Russia |
9.3.7. Poland |
9.3.8. Rest of Europe |
9.4. Europe Artificial Lift System Market - Opportunity Analysis Index, By Technology, By Application, and Country, 2024-2030 |
9.5. Europe Artificial Lift System Market Dynamics - Trends |
10. Asia-Pacific Artificial Lift System Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
10.1. Technology Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
10.1.1. Progressive Cavity Pumps (PCP) |
10.1.2. Electrical Submersible Pumps (ESP) |
10.1.3. Gas Lift |
10.1.4. Rod Lift |
10.1.5. Hydraulic Pumps |
10.1.6. Others |
10.2. Application Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
10.2.1. Onshore |
10.2.2. Offshore |
10.3. Country Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
10.3.1. Japan |
10.3.2. China |
10.3.3. India |
10.3.4. ASEAN |
10.3.5. Australia & New Zealand |
10.3.6. Rest of Asia-Pacific |
10.4. Asia-Pacific Artificial Lift System Market - Opportunity Analysis Index, By Technology, By Application, and Country, 2024-2030 |
10.5. Asia-Pacific Artificial Lift System Market Dynamics - Trends |
11. Latin America Artificial Lift System Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
11.1. Technology Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
11.1.1. Progressive Cavity Pumps (PCP) |
11.1.2. Electrical Submersible Pumps (ESP) |
11.1.3. Gas Lift |
11.1.4. Rod Lift |
11.1.5. Hydraulic Pumps |
11.1.6. Others |
11.2. Application Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
11.2.1. Onshore |
11.2.2. Offshore |
11.3. Country Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
11.3.1. Brazil |
11.3.2. Mexico |
11.3.3. Argentina |
11.3.4. Rest of Latin America |
11.4. Latin America Artificial Lift System Market - Opportunity Analysis Index, By Technology, By Application, and Country, 2024-2030 |
11.5. Latin America Artificial Lift System Market Dynamics - Trends |
12. Middle East and Africa Artificial Lift System Market Analysis, 2019-2023 and Forecast, 2024-2030 (Revenue, USD Mn) |
12.1. Technology Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
12.1.1. Progressive Cavity Pumps (PCP) |
12.1.2. Electrical Submersible Pumps (ESP) |
12.1.3. Gas Lift |
12.1.4. Rod Lift |
12.1.5. Hydraulic Pumps |
12.1.6. Others |
12.2. Application Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
12.2.1. Onshore |
12.2.2. Offshore |
12.3. Country Analysis 2019-2023 and Forecast 2024-2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
12.3.1. Gulf Cooperation Council (GCC) Countries |
12.3.2. Israel |
12.3.3. South Africa |
12.3.4. Rest of MEA |
12.4. MEA Artificial Lift System Market - Opportunity Analysis Index, By Technology, By Application, and Country, 2024-2030 |
12.5. MEA Artificial Lift System Market Dynamics - Trends |
13. Competition Landscape |
13.1. Strategic Dashboard of Top Market Players |
13.2. Company Profiles (Introduction, Financial Analysis, Application & Service Offerings, Key Developments, Strategies, and SWOT Analysis) |
13.2.1. Schlumberger |
13.2.2. Weatherford International |
13.2.3. Baker Hughes Company |
13.2.4. Halliburton |
13.2.5. Well Master Corporation |
13.2.6. Novomet |
13.2.7. NOV |
13.2.8. Borets International Ltd |
13.2.9. JJ Tech |
13.2.10. GE Company |
14. Research Methodology |
15. Key Assumptions and Acronyms |
Key Market Players