{"id":162473,"date":"2019-07-26T11:50:05","date_gmt":"2019-07-26T11:50:05","guid":{"rendered":"http:\/\/www.georgianewsdesk.com\/news\/story\/162473\/artificial-lift-market-poised-to-reach-265-billion-by-2025-grand-view-research-inc.html"},"modified":"2019-07-26T11:50:05","modified_gmt":"2019-07-26T11:50:05","slug":"artificial-lift-market-poised-to-reach-265-billion-by-2025-grand-view-research-inc","status":"publish","type":"post","link":"http:\/\/www.honolulunewsnow.com\/news\/story\/162473\/artificial-lift-market-poised-to-reach-265-billion-by-2025-grand-view-research-inc.html","title":{"rendered":"Artificial Lift Market Poised to Reach $26.5 Billion By 2025: Grand View Research, Inc"},"content":{"rendered":"
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Grand View Research, Inc. – Market Research And Consulting.<\/div>\n<\/div>\n<\/div>\n
According to report published by Grand View Research, The global artificial lift systems market size was valued at USD 16.18 billion in 2016.<\/div>\n

The global artificial lift market<\/a> is expected to reach USD 26.5 billion by 2025, according to a new report by Grand View Research, Inc. The industry is anticipated to gain traction owing to the increasing fossil fuel demand coupled with the rising number of mature reserves, which hold a high volume of crude oil. Furthermore, volatile oil prices are persuading oil companies to decrease the per barrel oil production cost, thereby driving the demand for EOR techniques, such as artificial lift systems, over the forecast period.<\/p>\n

The robust demand for crude oil and natural gas has led to the depletion of onshore reserves. This has offered offshore deep-water opportunities for several companies, thus catapulting the artificial lift market size. Additionally, technological advancements have encouraged Exploration and Production (E&P) companies to increase the production of crude oil and natural gas in offshore reserves, which is anticipated to further propel demand over the coming years.<\/p>\n

Lifting systems are used in offshore applications of deepwater gas lift wells and for subsea production to augment the productivity of wells. Thus, the rising deepwater oil production is anticipated to spur the market growth. Owing to rapid industrialization, conventional sources of oil & gas are depleting at the expense of future energy demands. This has forced companies to meet the end-user demand by focusing on unconventional gas resources. As such, unconventional gas production is considered to act as a key opportunity for players operating in the market.<\/p>\n

The demand for energy is increasing globally. The escalating demand for primary energy in transportation, power generation, and household activities has led to increased oil & gas consumption in major economies across the globe. This has led the producers of oil & gas to dig deeper to meet the increasing energy demands, thus instigating the need for artificial lift. However, the fluctuating oil prices and impacted investments would affect market growth, owing to high equipment and capital costs. <\/p>\n

Browse Details of Report, Please Visit @<\/strong> https:\/\/www.grandviewresearch.com\/industry-analysis\/artificial-lift-systems-market<\/a><\/p>\n

U.S. artificial lift systems market by product, 2014 – 2025 (USD Million)<\/strong><\/p>\n

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Key Takeaways from the report:<\/strong><\/p>\n