- The key vendors in the Global Artificial Lift Pumps Market 2015-2019 are Baker Hughes Inc., GE Energy LLC, Schlumberger Ltd. and Weatherford International Ltd.
London, 18 March 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Global Artificial Lift Pumps Market 2015-2019. Advances in technologies are the important trend emerging in the market. Incorporation of new technology in artificial lift pumps through continuous R&D is expected to help the market to grow in the future. Companies are trying to address this issue with joint ventures for R&D and technology transfers such as Schlumberger forming a joint venture with Liquid Robotics to develop subsea robotics. The Global Artificial Lift Pumps market is expected to grow at a CAGR of 8.95 percent during the forecast period of 2014-2019.
“International vendors are entering strategic alliances and partnerships with regional and local vendors to benefit from the untapped market potential in a particular country or region,” says Faisal Ghaus, Vice President of Technavio Research.
“Vendors are trying to diversify their business through investments in new and allied fields to increase their revenues and mitigate the risk involved in the Oil and Gas industry.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
