Downhole Hydraulic Pumps Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

Downhole Hydraulic Pumps Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025

  • Transparency Market Research
  • January 2037
  • Machinery
  • 0 pages

Report Description

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Since the 1930s, hydraulic pumping is commonly practiced for deploying artificial lifting systems. Downhole hydraulic pump refers to equipment serving as an artificial lift pumping system, which relates to usage of an artificial technique to lift fluids including water and oil, to the surface. A downhole hydraulic pump is used as an alternative to the sucker rods and other conventional methodologies, which also performs the similar task. In the current era, rise in demand for oil and gas products is increasing the extraction of oil from wells, and so the usage of downhole hydraulic pumps has increased to perform the extraction properly.

The fundamental reason for the significant growth of the global downhole hydraulic pump market is prominent usage of artificial lifting systems. Demand for artificial lifting systems is increasing owing to efficient recovery of oil and gas from reservoirs, by the use of this system. Technological advancements being carried out in the downhole hydraulic pumps is leading to the replacement of existing conventional pump systems. Downhole hydraulic pumps also offer flexibility in functionality such as varied range of pumping rates with fluid control on the surface. Along with adequate functionality, the downhole hydraulic pump also offers some extra benefits, as it uses a power fluid due to which the pump injects chemicals to control corrosion, diluents for reducing the viscosity of the produced fluids, and fresh water to dissolve salt. The efficient working capability of the downhole hydraulic pump makes it work even for crooked and horizontal hole operations in which other artificial lift methods do not work efficiently. One primary challenge of the downhole hydraulic pump market hindering its growth to some extent is high energy cost associated with the equipment. Design advancements are being conducted to improve the use of the downhole hydraulic pump in heavy-crude oil reservoirs, and thus players are given new sets of opportunity to bring innovation to the market.

The global downhole hydraulic pump market can be segmented on the basis of product type and region. On the basis of product type, the global downhole hydraulic pump market can be segmented into reciprocating pumps and jet pumps. In case of reciprocating pumps, the back and forth movement of the piston delivers a definite volume of fluid to the system. Jet pumps are the pumps which can interchangeably fit into bottom hole assemblies (BHAs), designed for stroking pumps. Jet pumps are preferred if the pumping bottom hole pressure(BHP) is more as the pressure drawdown capability of the jet pump is inferior as compared to the reciprocating pump. Reciprocating pumps have more maintenance cost as compared to jet pumps as pump seeds need to be monitored daily, with an aim to keep it moderate. Jet pumps are replacing conventional stoking pumps, as they can produce high volumes of fluid and enable flexibility in the production rate by adjusting the pressure. On the basis of regions, the global downhole hydraulic pump market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is the region dominating the downhole hydraulic pump market across the globe. The Asia Pacific downhole hydraulic pump market is witnessing progressive growth with India, China, Malaysia, and Australia as the key contributing countries in the region.

The global safety light curtains market includes various players. Some of the key players in the market are Lufkin Industries Inc., Schlumberger Limited, Weatherford International Ltd., Dover Artificial Lift LLC, Tech-Flo Consulting LLC, Hansen Downhole Pump Solutions, and JJ Tech.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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