Artificial Lift Optimization Systems

The Artificial Lift Optimization market research report delivers current market analysis plus a five-year market and technology forecast.  This report provides a concise analysis of the artificial lift optimization market.  The scope of the research is primarily on the upstream oil & gas production optimization opportunity.  The study is available in multiple editions including worldwide, all regions, and most major countries. 

​Artificial Lift Optimization Systems Enable Production Optimization

Companies face continued challenges to raise productivity, lower production costs, lower oil extraction and refinement costs, reduce manufacturing operating expenses, and increase return on investment in order to compete in the global market.  Optimizing artificial lift system performance and up-time can play a critical role in helping companies realize operational excellence.

The artificial lift optimization market, including hardware, software, and services, is somewhat dynamic with major segments experiencing strong product innovation.  This market has tremendous opportunities with steady growth driven by a growing number of unconventional wells which are exhibiting greater decline rates, and wells which require artificial lifts to be deployed earlier in the life of the well.  These artificial lift optimization solutions provide new features and functionality necessary to increase production and pump availability by leveraging smart sensors and machine learning based on industrial IoT.

The drive for well production growth, for which artificial lift optimization is critical, is pushing companies to invest in new optimization solutions and services including digitalization, industrial IoT, and Industry 4.0., for deployment at various project locations and formations. Furthermore, the advances in data quality, software processing, and ease of use, continue to increase the value proposition for end users.  

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Actionable Information on Artificial Lift Optimization Market 

In addition to providing a five-year market forecast, the Artificial Lift Optimization market research report provides detailed quantitative current market data and addresses key strategic issues for both suppliers and potential buyers of these systems.

Price Volatility and Production Requirements Mandate Artificial Lift Optimization

Companies operating artificial lift systems in oilfields continue to face the challenges of increasing production, reducing energy consumption, lowering costs per barrel, and maintaining pump operational uptime (i.e., minimizing downtime).  Investing in artificial lift optimization across all seven artificial lift system types covered has benefited most users.  The artificial lift optimization market has requirements, standards, and capabilities that vary by region, project location, and application.  The study addresses the unique requirements and standards for artificial lift systems used by owner-operators, independent E&P firms, and other stakeholders.  

Impact of COVID-19 Pandemic felt in 2020, Recovery in 2021

While the COVID-19 pandemic did not impact the 2019 demand for artificial lift optimization, the market projections do take into account industry trends with our best estimates for how the COVID-19 pandemic will impact the artificial lift optimization market in different project locations and regions.