Onshore Artificial Lift Systems Market - By Technology (Progressive Cavity Pumps (PCP), Electrical Submersible Pumps (ESP), Gas Lift, Rod Lift, Hydraulic Pumps) & Forecast, 2024 – 2032

Onshore Artificial Lift Systems Market Size

Onshore Artificial Lift Systems Market surpassed USD 10.9 billion in 2023 and is anticipated to expand at 7.3% CAGR from 2024 to 2032.
 

The increasing focus on improving the production capabilities of mature and abandoned onshore wells. This trend has created a favorable business environment for artificial lift industry players, who are now investing in technological advancements such as automation and customization of various well redevelopment services to improve the overall industry outlook.
 

The rising global demand for oil and gas products pose as a major driver for the demand for efficient O&G extraction and production methods. Artificial lift systems enable the optimization of well productivity and recovery rates, meeting the growing energy demand. Aging oil and gas reservoirs further act as a key driver for the system adoption on account of the decline in the natural pressure of the well which is utilized for the production. The extraction of oil and gas from unconventional resources such as shale formations and tight reservoirs requires specialized techniques including artificial lift systems, thereby stimulating a positive onshore artificial lift systems market growth.
 

COVID-19 Impact

The COVID-19 pandemic has had a significant impact on the global oil and gas industry, further impacting the onshore artificial lift systems market adversely. The lockdowns and travel restrictions imposed by many countries in response to the pandemic led to a decline in oil and gas demand and prices, which in turn resulted in reduced exploration and production activities. As a result, the demand for artificial lift systems also decreased. However, the supply chain disruptions caused by the pandemic also affected the production and delivery of artificial lift equipment, leading to delays and increased costs.
 

Moreover, as the oil and gas industry gradually recovers and stabilizes, there is an expectation of a rebound in the industry landscape. The need to optimize production from existing wells, revive abandoned fields, and increase operational efficiency will drive the product demand in the post-pandemic period.
 

Onshore Artificial Lift Systems Market Trends

The onshore artificial lift systems industry has witnessed substantial growth due to various factors such as rising demand for hydrocarbons and advancements in technology. The integration of these technologies optimizes performance and enables predictive maintenance, thus augmenting its adoption across the oil and gas industry. With conventional oil and gas reserves depleting, there is an increasing focus on unconventional resources like shale gas and tight oil. Artificial lift systems are being adapted and optimized for these resources, which often require specialized techniques such as hydraulic fracturing and horizontal drilling, thus driving the product penetration.
 

The industry is observing a growing interest in intelligent systems, also called smart lift systems. The espousal of intelligent systems is advantageous in terms of increased efficiency, decreased downtime, and improved reservoir management, which is driving the onshore artificial lift systems market development.
 

Onshore Artificial Lift Systems Market Analysis

The need of electrical submersible pumps (ESPs) is rapidly increasing, holding a significant market share of over 46% in 2022. This technology is expected to observe 7% growth rate between 2023 and 2032. High efficiency, enhanced recovery rates, high customization, smart & remote monitoring & control capabilities and cost effectiveness are amongst the numerous features offered by ESP systems, which aid in enhancing its onshore artificial lift systems industry expansion. Additionally, ESP systems can be optimized to match the changing production conditions of onshore wells. By adjusting the pump speed, impeller size, or motor horsepower, operators can optimize production rates, maintain optimal drawdown, and manage well performance over the life of the field, which further favors its adoption over other alternatives.
 

North America onshore artificial lift systems market is anticipated to observe a substantial growth of 6.5% till 2032 on account of the ongoing discovery of various unconventional hydrocarbon sources including shale gas along with growing number of mature fields across the region. Furthermore, the industry has recognized the advantages of achieving higher recovery rates, leveraging technological advancements, and reaping positive environmental and economic outcomes through the adoption of these technologies, resulting in the continuous growth and development of the North American oil and gas sector.
 

The regional industry is poised for flourish due to the implementation of policies and regulations promoting efficient and environmentally responsible oil and gas extraction. The region's investments in oil and gas infrastructure, such as pipeline networks, processing facilities, and storage capacities, further presents opportunities for artificial lift system providers. Growing adoption of horizontal drilling in the recent years across U.S. will further garner the industry demand.
 

The declining rate of production wells in the United States have compelled the industry players to utilize innovations that can boost the production from such maturing wells. Moreover, the rise in shale oil and gas production in prominent regions like the Permian Basin, Bakken Formation, and Eagle Ford Shale will contribute significantly to the product deployment by 20032.
 

Onshore Artificial Lift Systems Market Share

The leading players in the onshore lift artificial lift systems market are strategically focusing on digital solutions to optimize production from mature fields and address the industry's demand-supply dynamics. These industry leaders are prioritizing forward integration and economies of scale to gain a competitive advantage in the long run. Major participants in the onshore artificial lift systems market include

• SLB
• Halliburton
• Weatherford
• Levare
• General Electric
• NOV Inc.
• JJ Tech
• Aker Solutions
• Novomet
• BCP Group
• Occidental Petroleum Corporation
• Canadian Advanced ESP
• Alkhorayef Petroleum
• ELKAM ArtEfficial Lift
• PetroLift Systems, Inc.
• Rimera Group
   

Onshore Artificial Lift Systems Industry News:

• In August 2020, Halliburton and Honeywell recently entered into a collaboration aimed at optimizing asset potential, mitigating execution risk, and reducing the total cost of ownership for oil and gas operators. The collaboration involves the integration of Halliburton Landmark's DecisionSpace 365 E&P cloud applications with Honeywell Forge, a robust industrial analytics software solution. By combining their expertise, the two companies aim to provide oil and gas operators with comprehensive insights into their assets, enabling them to make informed decisions and enhance operational efficiency.
   
• In April 2020, Rimera Group's Izhevsk plant has introduced new drives designed for sucker-rod pumps (SRP) that boast a lifting capacity of 10 and 12 tonnes. These latest models of SRP drives have been engineered with an enhanced safety margin and feature a specially developed three-stage gearbox called RT-58. The drives also incorporate new crankshafts and counterbalances. Notably, the PT-58 gearbox offers higher torque and increased loading capacity when compared to the gearboxes typically used in this segment.
   

This onshore artificial lift systems market research report includes an in-depth coverage of the industry with estimates & forecast in terms of USD Million from 2019 to 2032, for the following segments:

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Market, By Technology (USD million)

• Rod lift
• Electrical submersible pump
• Progressive cavity pump
• Gas lift
• Hydraulic pumps
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Norway
  • Netherlands
  • CIS & Eurasia
    • Kazakhstan
    • Turkmenistan
    • Russia
    • Azerbaijan
    • Ukraine
• Asia Pacific
  • China
  • India
  • Indonesia
  • Thailand
  • Malaysia
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Oman
  • Kuwait
  • Turkey
  • Iran
  • Algeria
  • Angola
  • Nigeria
  • Iraq
• Latin America
  • Brazil
  • Argentina
  • Mexico