Report Description
The global subsea artificial lift systems market size is projected to register a substantial CAGR during the forecast period, 2021 – 2028. The growth of the market is attributed to rapid growth in industrial and transportation sectors.
Artificial lift system is used to increase and stabilize the production of hydrocarbons in oil or liquid loaded gas systems. It is also used to reduce flow assurance and operational risks such as slugging in subsea production unit.
The prime aim of subsea artificial lift system is to lower fluid density and transfer energy to produced fluid. Several subsea artificial lift methods have been developed, which depends on specific lifting requirements and operational control.
Subsea artificial lift systems are used to increase the production rate of petroleum-based products in oil & gas wells. The pressure in oil and gas wells drops with production, as it reduces bottom-hole pressure. The design of the system depends on reservoir & fluid properties and well parameters.
Market Drivers, Restraints, Trends, and Opportunities
- Growing demand for systems to increase the efficiency of existing wells and rising demand of energy across the globe are key drivers for the subsea artificial lift systems market.
- Ongoing development in production facilities and growing off-shore oil production are expected to fuel the market growth during the forecast period.
- Increasing technology advancement in subsea artificial lift system is anticipated to boost the market growth during the forecast period.
- Flow assurance difficulties associated with subsea artificial lift systems can hamper the growth of the market.
- High cost associated with operation as well as maintenance can restrain the market growth during the forecast period.
- Since early 2020, the subsea artificial lift systems market was hugely impacted by the COVID-19 pandemic, as various government state bodies declared lockdown to mitigate the spread of virus. However, the market is expected to recover by end of 2021.
- Rising demand for hydrocarbon from aviation and power generation industries are anticipated to positively influence the market growth.
Scope of the Report
The report on the subsea artificial lift systems market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Subsea Artificial Lift Systems Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Types (Electric Submersible Pump Systems, Progressive Cavity Pump Systems, and Rod Lift) and Applications (Oil Wells and Gas Wells)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Baker Hughes, General Electric, Halliburton, National Oilwell Varco, Schlumberger, Weatherford, Borets, Dover Artificial Lift, Epic Lift Systems, Flotek Industries, JJ Tech, Lycon, Multi-Chase Group, NOVOMET, Superior Energy Services, Tenaris, and United Drilling Tools
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Subsea Artificial Lift Systems Market Segment Insights
Electric submersible pump systems segment to account a large market share
On the basis of types, the market is divided into electric submersible pump systems, progressive cavity pump systems, and rod lift. The electric submersible pump systems segment is anticipated to account for more than 38% of the market share during forecast period. Electric submersible pump is considered to be most versatile and massively adopted pump by operators around the world. It can handle high volume, a wide range of flow rates, and can operate in harsh environmental conditions.
Oil wells segment to exhibit a high CAGR
In terms of applications, the global subsea artificial lift systems market is classified as oil wells and gas wells. The oil wells segment is expected to exhibit a high CAGR during forecast period. Rising demand for petroleum-based products for production of plastic, propelling vehicles, electricity generation, construction of asphalt roads are driving the segment growth.
North America projected to dominate the market
Based on regions, the market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the market share during forecast period. Ongoing technological development and increasing exploration activities have increased the demand for subsea artificial lift systems market in the region. The US, Texas, Alaska, and North Dakota are the frontrunners in the production of oil wells in the region.

Segments
Segments covered in the report
The global subsea artificial lift systems market has been segmented on the basis of
Types
- Electric Submersible Pump Systems
- Progressive Cavity Pump Systems
- Rod Lift
Applications
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key players
- Baker Hughes
- General Electric
- Halliburton
- National Oilwell Varco
- Schlumberger
- Weatherford
- Borets
- Dover Artificial Lift
- Epic Lift Systems
- Flotek Industries
- JJ Tech
- Lycon
- Multi-Chase Group
- NOVOMET
- Superior Energy Services
- Tenaris
- United Drilling Tools
Competitive Landscape
Major players of the market are Baker Hughes, General Electric, Halliburton, National Oilwell Varco, Schlumberger, Weatherford, Borets, Dover Artificial Lift, Epic Lift Systems, Flotek Industries, JJ Tech, Lycon, Multi-Chase Group, NOVOMET, Superior Energy Services, Tenaris, and United Drilling Tools.

Table Of Content
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Subsea Artificial Lift Systems Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Subsea Artificial Lift Systems Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Subsea Artificial Lift Systems Market - Supply Chain
4.5. Global Subsea Artificial Lift Systems Market Forecast
4.5.1. Subsea Artificial Lift Systems Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Subsea Artificial Lift Systems Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Subsea Artificial Lift Systems Market Absolute $ Opportunity
5. Global Subsea Artificial Lift Systems Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Subsea Artificial Lift Systems Market Size and Volume Forecast by Types
5.3.1. Electric Submersible Pump Systems
5.3.2.
Progressive Cavity Pump Systems
5.3.3.
Rod Lift
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Subsea Artificial Lift Systems Market Analysis and Forecast by Applications
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Applications
6.2.2. Y-o-Y Growth Projections by Applications
6.3. Subsea Artificial Lift Systems Market Size and Volume Forecast by Applications
6.3.1. Oil Wells
6.3.2.
Gas Wells
6.4. Absolute $ Opportunity Assessment by Applications
6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Subsea Artificial Lift Systems Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Subsea Artificial Lift Systems Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Subsea Artificial Lift Systems Demand Share Forecast, 2019-2026
8. North America Subsea Artificial Lift Systems Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Subsea Artificial Lift Systems Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Subsea Artificial Lift Systems Market Size and Volume Forecast by Types
8.4.1. Electric Submersible Pump Systems
8.4.2.
Progressive Cavity Pump Systems
8.4.3.
Rod Lift
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. North America Subsea Artificial Lift Systems Market Size and Volume Forecast by Applications
8.7.1. Oil Wells
8.7.2.
Gas Wells
8.8. Basis Point Share (BPS) Analysis by Applications
8.9. Y-o-Y Growth Projections by Applications
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Subsea Artificial Lift Systems Demand Share Forecast, 2019-2026
9. Latin America Subsea Artificial Lift Systems Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Subsea Artificial Lift Systems Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Subsea Artificial Lift Systems Market Size and Volume Forecast by Types
9.4.1. Electric Submersible Pump Systems
9.4.2.
Progressive Cavity Pump Systems
9.4.3.
Rod Lift
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Latin America Subsea Artificial Lift Systems Market Size and Volume Forecast by Applications
9.7.1. Oil Wells
9.7.2.
Gas Wells
9.8. Basis Point Share (BPS) Analysis by Applications
9.9. Y-o-Y Growth Projections by Applications
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Subsea Artificial Lift Systems Demand Share Forecast, 2019-2026
10. Europe Subsea Artificial Lift Systems Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Subsea Artificial Lift Systems Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Subsea Artificial Lift Systems Market Size and Volume Forecast by Types
10.4.1. Electric Submersible Pump Systems
10.4.2.
Progressive Cavity Pump Systems
10.4.3.
Rod Lift
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Europe Subsea Artificial Lift Systems Market Size and Volume Forecast by Applications
10.7.1. Oil Wells
10.7.2.
Gas Wells
10.8. Basis Point Share (BPS) Analysis by Applications
10.9. Y-o-Y Growth Projections by Applications
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Subsea Artificial Lift Systems Demand Share Forecast, 2019-2026
11. Asia Pacific Subsea Artificial Lift Systems Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Subsea Artificial Lift Systems Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Subsea Artificial Lift Systems Market Size and Volume Forecast by Types
11.4.1. Electric Submersible Pump Systems
11.4.2.
Progressive Cavity Pump Systems
11.4.3.
Rod Lift
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Asia Pacific Subsea Artificial Lift Systems Market Size and Volume Forecast by Applications
11.7.1. Oil Wells
11.7.2.
Gas Wells
11.8. Basis Point Share (BPS) Analysis by Applications
11.9. Y-o-Y Growth Projections by Applications
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Subsea Artificial Lift Systems Demand Share Forecast, 2019-2026
12. Middle East & Africa Subsea Artificial Lift Systems Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Subsea Artificial Lift Systems Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Subsea Artificial Lift Systems Market Size and Volume Forecast by Types
12.4.1. Electric Submersible Pump Systems
12.4.2.
Progressive Cavity Pump Systems
12.4.3.
Rod Lift
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Middle East & Africa Subsea Artificial Lift Systems Market Size and Volume Forecast by Applications
12.7.1. Oil Wells
12.7.2.
Gas Wells
12.8. Basis Point Share (BPS) Analysis by Applications
12.9. Y-o-Y Growth Projections by Applications
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Subsea Artificial Lift Systems Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Subsea Artificial Lift Systems Market: Market Share Analysis
13.2. Subsea Artificial Lift Systems Distributors and Customers
13.3. Subsea Artificial Lift Systems Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. Baker Hughes
13.4.2.
General Electric
13.4.3.
Halliburton
13.4.4.
National Oilwell Varco
13.4.5.
Schlumberger
13.4.6.
Weatherford
13.4.7.
Borets
13.4.8.
Dover Artificial Lift
13.4.9.
Epic Lift Systems
13.4.10.
Flotek Industries
13.4.11.
JJ Tech