Electrical submersible pump to witness significant growth in the Global Artificial Lift System Market

Allied Market Research published a report titled “Global Artificial Lift System Market (Types, Components and Geography) - Size, Share, Global Trends, Company Profiles, Demand, Insights, Segmentation and Forecast, 2013 – 2020.” The report would help the market entities in understanding the dynamic nature of the global artificial lift market.

The different sorts of artificial lifts accessible in the business. The determination of artificial lifts relies on a few components including fluid generation rate (LPR), water cut, thickness, well profundity, packaging and tubing sizes, gas-fluid degree and wellbore deviation. There are six sorts of artificial lifts gave by driving industry players, which incorporate electrical submersible pump, progressive cavity pumps, rod lift, gas lift, plunger lift, hydraulic pump.

Electrical submersible pump (ESP) is a solid and proficient artificial lift technique that is generally utilized for lifting moderate to high volumes of liquids from wellbores. The ESP lift is helpful for lifting liquids, in a scope of 150 barrels to about 150,000 barrels every day.

“In the oil and gas industry, ESP’s are probably the highest used systems among for artificial lifts. About 15 to 20% of almost one million wells across the world are pumped with artificial lifts that employ ESP. Also, ESP is the fastest growing segment of artificial lift pumping technology,” states AMR analyst

Analyst further said “These are largely used for extractions in high volume and depth oil fields. These systems are also renowned for cost-effectiveness, low maintenance alternative to positive displacement and the dexterity of their vertical turbines in pumping the fluid to the surface.”

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