Liquid-assisted Gas-lift Market: Introduction
- Liquid-assisted gas-lift is an alternative technology employed to perform the gas-lift unloading process. The technology utilizes co-injection of liquid with gas to increase mixture density of the fluid in the casing annulus, which reduces the injection pressure for gas so that it reaches the bottom of the well.
- The liquid-assisted gas-lift technology eliminates the need for multi-point injection for the unloading process. Thus, this technology can increase production in comparison to the conventional gas-lift technology.
Key Drivers and Restrains of Global Liquid-assisted Gas-lift Market
- Increase in investments in the exploration and production of unconventional hydrocarbon resources, such as shale gas and tight gas, to meet the demand for petroleum products from several industries, such as automotive and power generation, is a key factor driving the global liquid-assisted gas-lift market
- Rise in the number of mature and aging oilfields is expected to propel the global liquid-assisted gas-lift market during the forecast period. Oil and gas production has been increasing in aging fields across the globe. As a result, the production output of these fields is gradually decreasing, due to decline in the reservoir pressure. Liquid-assisted gas lift systems are deployed in these fields to ramp up the production output.
- Fluctuating crude oil prices have enhanced the focus of operators on finding innovative techniques to produce more oil at a low price. This, in turn, is anticipated to boost the global liquid-assisted gas-lift market during the forecast period. Furthermore, technological innovations in the design of gas lift systems to improve the operational efficiency are likely to propel the global market during the forecast period.
Are you a start-up willing to make it big in the business? Grab an exclusive PDF sample of this report
Ultrasonic Segment to Hold a Major Share of Global Market
- The global liquid-assisted gas-lift market can be segmented based on location and region
- In terms of location, the global liquid-assisted gas-lift market can be divided into onshore and offshore. Liquid-assisted gas-lift is one of the most extensively used techniques in onshore locations. The onshore segment is anticipated to witness considerable growth during the forecast period, due to increase in the number of marginal oilfields. Surge in the demand from oil and gas producers to maintain production from horizontal gas wells and boost the rate of recovery from reservoirs is also likely to drive the global liquid-assisted gas-lift market during the forecast period.
North America Liquid-assisted Gas-lift Market to Expand Rapidly
- In terms of region, the global liquid-assisted gas-lift market can be divided into: Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
- The liquid-assisted gas-lift market in North America is expected to expand at a significant pace during the forecast period. This growth of the market in the region can be attributed to continual increase in the oil consumption along with presence of low-pressure oil wells in North America.
- The liquid-assisted gas-lift market in Europe is projected to witness growth during the forecast period, due to rise in efforts for production of hydrocarbon resources from aging fields to reduce imports of fossil fuel. Improved living standards, strong economic growth, and rapid industrialization are some of the key factors that have attracted oil and gas operators to invest in the development of mature fields. Furthermore, increase in focus to safeguard nation’s energy security by ensuring the security of oil supplies is also estimated to drive the market in Europe during the forecast period.
- The liquid-assisted gas-lift market in Asia Pacific is anticipated to expand at the maximum CAGR during the forecast period, due to rise in energy consumption and increase in focus of oil and gas operators on the development of innovative technologies to produce oil and gas at low prices. For instance, as per BP stats, the crude oil consumption in Asia Pacific increased from 1,651.3 million tons oil equivalent in 2017 to 1,695.4 million tons oil equivalent in 2018.
- The liquid-assisted gas-lift market in Latin America and Middle East & Africa is projected to expand at a sluggish pace during the forecast period, due to abundance of untapped oil and gas reserves. For instance, in 2018, Saudi Arabia accounted for 15.7% share of the global proven oil reserves i.e. 266.2 billion barrels of proven oil reserves.
Expanding operations in future? To get the perfect launch ask for a custom report
Key Players Operating in Global Market
The global liquid-assisted gas-lift market is at the nascent stage. Hence, a limited number of technology providers, including Lift Well International, are currently operating in the market.
Global Liquid-assisted Gas-lift Market: Research Scope
Global Liquid-assisted Gas-lift Market, by Location
Global Liquid-assisted Gas-lift Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players 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.