Growth of Oil and Gas Industry to Fuel the Growth of Downhole Hydraulic Pump Market

The rising demand for oil and gas production across the globe is one of the major factors that is influencing artificial lifting systems. These systems are designed to improve the extraction from the oil well where natural pressure is almost negligible. This in result has propelled the global downhole hydraulic pumps market. It is noticeable that recovery of hydrocarbon is quite challenging in an offshore oil well environment. This notably has intensified the demand for downhole hydraulic pumps in a mature oil well industry. Owing to this growing demand the downhole hydraulic pumps market is experiencing major boost in coming years.

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Moreover, rising demand of versatile artificial lift technologies in mature oil well industry is expected to bolster the global downhole hydraulic pumps market in coming years. The benefits such as easy installation, reduced cost of oil extraction and flexible pumping applications have also boosted the growth of global downhole hydraulic pumps market.

Growing Prominence of Jet Pumps to Fuel the Growth of the Market

Growing popularity of the jet pumps in the oil and gas industry to extract oil from mature well is expected to boost the growth of the market of downhole hydraulic pumps. The major reason for this rising popularity of the jet pumps in global downhole hydraulic pumps market are the factors such as improved performance, easy availability, and rising inclusion of bottom-hole assemblies. Furthermore, the demand for pumping high-viscosity crude or natural gas in mature wells in order to reduce the downtime is yet again influencing the growth of global downhole hydraulic pumps market.

However, heavy investments required to install hydraulic pumping systems from oil rigs may hamper the growth of the global downhole hydraulic pumps market. Nevertheless, recent technological advancements and introduction of cost effective installation services by various businesses is expected to support the global downhole hydraulic pumps market in coming future.

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Flexile Usage of Hydraulic Pumping to Fuel Downhole Hydraulic Pumps Market

San Francisco, California, January 24, 2019 : Since the mid 1930s, hydraulic pumps has been the key artificial lifting technique, offering a few distinct frameworks for taking care of an assortment of well conditions. Because of its adaptable nature, the downhole-siphoning rate can be controlled over a wide range with liquid controls superficially. Synthetics to control emulsions, paraffin and consumption, can be embedded downhole with the power liquid, while crisp water can likewise be added to melt salt stores. While siphoning overwhelming crudes, the power liquid can fill in as a viable diluent to lessen the thickness of the created liquids.

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Downhole hydraulic pumps have picked up footing in different regions in hydraulic pumps applications for artificial lifting framework. Their popularity is principally determined by the flexible use in an assortment of pumping conditions and the simplicity of support. Over the ongoing couple of decades, nonstop upgrades in equipment and programming to build the operational effectiveness of downhole hydraulic pumps for a wide scope of wells. Fly pumps are rising as a suitable option in contrast to regular stirring pumps and changing the cutting edge downhole hydraulic pumps. Portrayed by the nonappearance of gas locking, fly pumps can create high volumes of liquids and take into consideration popular production rate by reasonably modifying the weight and rate of infusion.

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Surging demand for oil and gas items around the globe has brought about extra weight on extraction wells. This thusly puts a strain on the research firms to misuse more oil from wells, for which downhole hydraulic pumps is fundamental. Besides, a large portion of the extraction wells being used worldwide are develop wells. These wells have been in business task for quite a while, and subsequently their stores have drained throughout the years. To separate more assets from these wells, hydraulic pumps should be utilized at a large portion of the extraction destinations.

Downhole Hydraulic Pumps to Witness High Uptake in Mature Oil Wells

San Francisco, California, Sept 05, 2017: The growing need for oil and gas production world over is a key factor boosting the application of artificial lifting systems to improve hydraulic pumping in extraction wells. This has driven the evolution of the downhole hydraulic pumps market. The imperative for maximizing hydrocarbon recovery in a variety of challenging oil well environments, notably offshore, is a key factor driving the market. The intensifying demand for improving extraction in mature wells by the use of artificial lift systems, coupled with the need for prolonging the life of oil wells, is a key factor propelling the demand for downhole hydraulic pumps among exploration and production (E&P) companies. A new report by TMR Research, titled “Downhole Hydraulic Pumps Market – Global Industry Analysis, Market Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025”, offers elaborate assessment of such trends and factors shaping the market dynamics in the coming years.

The growing demand of versatile artificial lift technologies that need less maintenance is bolstering the uptake of downhole hydraulic pumps among E&P companies. The advent of robust artificial lift technologies in downhole hydraulic pumps that offer easy installation and flexible pumping operation has boosted the market. In addition, these systems have enabled E&P companies to augment the volume of hydrocarbon production, in onshore as well as offshore oil production. The preference of downhole hydraulic pumping systems over other artificial systems is attributed to their suitability in crocked and horizontal oil gas operations in offshore oil locations and environmentally challenging conditions.

The rising prominence of jet pumps that enable E&P companies in extracting high volumes of oil and gas, especially for abrasive well fluids, is anticipated to catalyze the demand for downhole hydraulic pumps in various developed and developing regions. The rising inclusion of bottom-hole assemblies in jet pumps has improved the performance of these systems. Furthermore, the need for pumping high-viscosity crude or shale gas in maturing wells and for decreasing well downtime are crucial factors stimulating manufacturers to design robust systems.

The high investment required to install hydraulic pumping of systems from rigs is a key factor likely to hinder the market to an extent. Nevertheless, recent design advancements in downhole hydraulic pumps have led to the advent of advanced downhole hydraulic pumps that can improve extraction in heavy-crude oil reservoirs, thereby opening up exciting avenues for market players.

Regionally, North America is a prominent market for downhole hydraulic pumps, primarily attributed to the vast uptake of artificial lifting systems in deep-water rigs. The increasing number of shale gas explorations in Europe and Asia Pacific are expected to boost the regional markets. Some of the key players operating in the market are Lufkin Industries Inc., GE Energy, Baker Hughes Inc., Schlumberger Limited, and Weatherford International Ltd.

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