Global Gas Lift System Market Size Study, by Application, by Gas Lift Type, by Well Type, by Lift Type, by Component and Regional Forecasts 2022-2032

Description

The Global Gas Lift System Market is valued at approximately USD 1.94 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 7.72% over the forecast period 2024-2032. Gas lift systems, including modern progressive cavity pumps (PCPs) or downhole centrifugal pumps, often integrated into electrical submersible pump (ESP) systems, achieve this by reducing the fluid density in the tubing. By injecting gas into the wellbore, these systems enable the efficient lifting of hydrocarbons to the surface. Not only do gas lift systems lower the bottomhole pressure, but they also increase the flow rate, making them indispensable for well operators. The robust growth of the gas lift system market is propelled by the global surge in energy demand, driven by industrialization, urbanization, and population growth.

The gas lift system market is crucial in the oil and gas industry, akin to artificial lift techniques, significantly boosting production rates from oil and gas wells. This method effectively decreases the bottomhole pressure (BHP) to enhance the flow of hydrocarbons from the reservoir. Additionally, the industry's pivot toward unconventional sources necessitates artificial lift systems to optimize production and exploration activities as conventional oil and gas sources dwindle. This trend is set to drive sustained growth in the gas lift system market, addressing the rising demand for efficient hydrocarbon extraction. Furthermore, gas lift systems profoundly impact the oil and gas industry by continually pushing production efficiency boundaries. They have become integral to the industry's quest for cost-effective and sustainable hydrocarbon extraction, notably extending the lifespan of mature oil fields. By boosting oil recovery rates, gas lift technology delays the cessation of production, providing operators with valuable extra years of revenue as fields approach their natural decline. This safeguards investments and reduces the need for new drilling, with positive economic and environmental implications.

The key regions considered for the Gas Lift System Market study include Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. The North American region dominated the Gas Lift System Market in 2023 and is expected to grow at a significant CAGR during the forecast period 2024-2032 due to its robust oil and gas industry and advanced technological capabilities. The presence of significant shale gas reserves and ongoing investments in oil extraction technologies drive the demand for efficient gas lift systems. North America's well-established infrastructure and expertise in petroleum engineering ensure the effective deployment and maintenance of these systems. Additionally, the region's commitment to energy independence and sustainable extraction methods supports the adoption of innovative gas lift technologies. The presence of leading industry players and a focus on enhancing production efficiency further bolster North America's dominant position in the gas lift system market. Thus, the region continues to lead in both market share and technological advancements within this sector.

Major market players included in this report are:

Baker Hughes Company
ChampionX
Weatherford International plc
Schlumberger Limited
Saudi Arabian Oil Co. (Saudi Aramco)
National Oilwell Varco, Inc.
Tendeka
Emerson Electric Co.
Spoc Automation, Inc.
Tally Energy Services
Halliburton
Wood Group
General Electric (GE)
NOVOMET
OleumTech Corporation

The detailed segments and sub-segment of the market are explained below:

By Application

Onshore
Offshore

By Gas Lift Type

Continuous Flow
Intermittent Flow

By Well Type

Horizontal
Vertical

By Lift Type

Gas Lift
Others

By Component

Packers
Mandrels
Valves

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
Saudi Arabia
South Africa
RoMEA

Years considered for the study are as follows:

Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032

Key Takeaways:

Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

Chapter 1. Global Gas Lift System Market Executive Summary

1.1. Global Gas Lift System Market Size & Forecast (2022-2032)
1.2. Regional Summary
1.3. Segmental Summary
- 1.3.1. By Application
- 1.3.2. By Gas Lift Type
- 1.3.3. By Well Type
- 1.3.4. By Lift Type
- 1.3.5. By Component
1.4. Key Trends
1.5. Recession Impact
1.6. Analyst Recommendation & Conclusion

Chapter 2. Global Gas Lift System Market Definition and Research Assumptions

2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
- 2.3.1. Inclusion & Exclusion
- 2.3.2. Limitations
- 2.3.3. Supply Side Analysis
  - 2.3.3.1. Availability
  - 2.3.3.2. Infrastructure
  - 2.3.3.3. Regulatory Environment
  - 2.3.3.4. Market Competition
  - 2.3.3.5. Economic Viability (Consumer's Perspective)
- 2.3.4. Demand Side Analysis
  - 2.3.4.1. Regulatory frameworks
  - 2.3.4.2. Technological Advancements
  - 2.3.4.3. Environmental Considerations
  - 2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates

Chapter 3. Global Gas Lift System Market Dynamics

3.1. Market Drivers
- 3.1.1. Rising Global Energy Demand
- 3.1.2. Shift Towards Unconventional Oil and Gas Sources
- 3.1.3. Technological Advancements in Gas Lift Systems
3.2. Market Challenges
- 3.2.1. High Initial Setup Costs
- 3.2.2. Maintenance and Operational Issues
3.3. Market Opportunities
- 3.3.1. Exploration of Unconventional Resources
- 3.3.2. Technological Innovations and Automation
- 3.3.3. Expansion in Emerging Economies

Chapter 4. Global Gas Lift System Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.1.6. Futuristic Approach to Porter's 5 Force Model
- 4.1.7. Porter's 5 Force Impact Analysis
4.2. PESTEL Analysis
- 4.2.1. Political
- 4.2.2. Economical
- 4.2.3. Social
- 4.2.4. Technological
- 4.2.5. Environmental
- 4.2.6. Legal
4.3. Top investment opportunity
4.4. Top winning strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion

Chapter 5. Global Gas Lift System Market Size & Forecasts by Application 2022-2032

5.1. Segment Dashboard
5.2. Global Gas Lift System Market: Application Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 5.2.1. Onshore
- 5.2.2. Offshore

Chapter 6. Global Gas Lift System Market Size & Forecasts by Gas Lift Type 2022-2032

6.1. Segment Dashboard
6.2. Global Gas Lift System Market: Gas Lift Type Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 6.2.1. Continuous Flow
- 6.2.2. Intermittent Flow

Chapter 7. Global Gas Lift System Market Size & Forecasts by Well Type 2022-2032

7.1. Segment Dashboard
7.2. Global Gas Lift System Market: Well Type Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 7.2.1. Horizontal
- 7.2.2. Vertical

Chapter 8. Global Gas Lift System Market Size & Forecasts by Lift Type 2022-2032

8.1. Segment Dashboard
8.2. Global Gas Lift System Market: Lift Type Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 8.2.1. Gas Lift
- 8.2.2. Others

Chapter 9. Global Gas Lift System Market Size & Forecasts by Component 2022-2032

9.1. Segment Dashboard
9.2. Global Gas Lift System Market: Component Revenue Trend Analysis, 2022 & 2032 (USD Billion)
- 9.2.1. Packers
- 9.2.2. Mandrels
- 9.2.3. Valves

Chapter 10. Global Gas Lift System Market Size & Forecasts by Region 2022-2032

10.1. North America Gas Lift System Market
- 10.1.1. U.S. Gas Lift System Market
  - 10.1.1.1. Application breakdown size & forecasts, 2022-2032
  - 10.1.1.2. Gas Lift Type breakdown size & forecasts, 2022-2032
  - 10.1.1.3. Well Type breakdown size & forecasts, 2022-2032
  - 10.1.1.4. Lift Type breakdown size & forecasts, 2022-2032
  - 10.1.1.5. Component breakdown size & forecasts, 2022-2032
- 10.1.2. Canada Gas Lift System Market
  - 10.1.2.1. Application breakdown size & forecasts, 2022-2032
  - 10.1.2.2. Gas Lift Type breakdown size & forecasts, 2022-2032
  - 10.1.2.3. Well Type breakdown size & forecasts, 2022-2032
  - 10.1.2.4. Lift Type breakdown size & forecasts, 2022-2032
  - 10.1.2.5. Component breakdown size & forecasts, 2022-2032
10.2. Europe Gas Lift System Market
- 10.2.1. U.K. Gas Lift System Market
- 10.2.2. Germany Gas Lift System Market
- 10.2.3. France Gas Lift System Market
- 10.2.4. Spain Gas Lift System Market
- 10.2.5. Italy Gas Lift System Market
- 10.2.6. Rest of Europe Gas Lift System Market
10.3. Asia-Pacific Gas Lift System Market
- 10.3.1. China Gas Lift System Market
- 10.3.2. India Gas Lift System Market
- 10.3.3. Japan Gas Lift System Market
- 10.3.4. Australia Gas Lift System Market
- 10.3.5. South Korea Gas Lift System Market
- 10.3.6. Rest of Asia Pacific Gas Lift System Market
10.4. Latin America Gas Lift System Market
- 10.4.1. Brazil Gas Lift System Market
- 10.4.2. Mexico Gas Lift System Market
- 10.4.3. Rest of Latin America Gas Lift System Market
10.5. Middle East & Africa Gas Lift System Market
- 10.5.1. Saudi Arabia Gas Lift System Market
- 10.5.2. South Africa Gas Lift System Market
- 10.5.3. Rest of Middle East & Africa Gas Lift System Market

Chapter 11. Competitive Intelligence

11.1. Key Company SWOT Analysis
11.2. Top Market Strategies
11.3. Company Profiles
- 11.3.1. Baker Hughes Company
  - 11.3.1.1. Key Information
  - 11.3.1.2. Overview
  - 11.3.1.3. Financial (Subject to Data Availability)
  - 11.3.1.4. Product Summary
  - 11.3.1.5. Market Strategies
- 11.3.2. ChampionX
- 11.3.3. Weatherford International plc
- 11.3.4. Schlumberger Limited
- 11.3.5. Saudi Arabian Oil Co. (Saudi Aramco)
- 11.3.6. National Oilwell Varco, Inc.
- 11.3.7. Tendeka
- 11.3.8. Emerson Electric Co.
- 11.3.9. Spoc Automation, Inc.
- 11.3.10. Tally Energy Services
- 11.3.11. Halliburton
- 11.3.12. Wood Group
- 11.3.13. General Electric (GE)
- 11.3.14. NOVOMET
- 11.3.15. OleumTech Corporation

Chapter 12. Research Process

12.1. Research Process
- 12.1.1. Data Mining
- 12.1.2. Analysis
- 12.1.3. Market Estimation
- 12.1.4. Validation
- 12.1.5. Publishing
12.2. Research Attributes