Artificial Lift System Market is segmented By Type (Electric Submersible Pumps, Rod Lift, Gas Lift, ...
Market Size in USD Bn
CAGR7.6%
Study Period | 2025-2032 |
Base Year of Estimation | 2024 |
CAGR | 7.6% |
Market Concentration | High |
Major Players | General Electric Company, Hitachi, Ltd., Man Diesel & Turbo SE, Neuman & Esser Group, Ebara Corporation and Among Others |
The artificial lift system market is estimated to be valued at USD 12.63 Bn in 2025 and is expected to reach USD 21.09 Bn by 2032, growing at a compound annual growth rate (CAGR) of 7.6% from 2025 to 2032. The growing offshore and onshore oil & gas production along with maturing oilfields is driving increasing adoption of artificial lift systems.