Artificial Rod Lift Segmentation
The market is segmented by end-user industry into oil & gas, mining, and others, out of which, the oil & gas segment is anticipated to hold the largest share in the global artificial rod lift market over the forecast period on account of increasing application of artificial rod lift in oil extraction from reservoirs. According to the U.S. Energy Information Administration (EIA) the global consumption of oil is estimated to be 92.2 million barrels per day in 2020. Increasing investment in the oil & gas industry is also estimated to boost the segment growth in the upcoming years.
Our in-depth analysis of the global market includes the following segments:
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Browse key industry insights with market data tables & charts from the report:
Frequently Asked Questions (FAQ)
Artificial Rod Lift Market size is projected to grow at around 6.2% CAGR during the forecast period i.e., between 2025-2037.
Growing demand for oil and gas, and increasing oil production activities will propel the market growth.
North America industry is set to dominate majority revenue share by 2037, owing to increasing oil production, led by presence of large oil reserves in the region.
The major players in the market are Dover Corporation, Novomet Group, Smiths Group, Schlumberger Limited, NOV Inc., J J Technical Services LLC, Halliburton Company, Flotek Industries, and others.
