The global downhole hydraulic pump market is expected to grow at a significant rate due to its increasing use in artificial lift system. Artificial lift system is progressively being adopted across the globe as there is a growing demand to maximize the recovery of oil and gas from the reservoir. Recent developments in oil and gas production techniques and increase in shale gas production has brought about interest in using downhole hydraulic pump. Further, technological advancement coupled with operational flexibility adds to the demand of downhole hydraulic pump in global oil and gas market. Down hole hydraulic pump is now widely in demand and is fast replacing the existing conventional stroke pump system.
Downhole hydraulic pumping is an artificial lift method that has traditionally been used in the oil and gas industry since 1930. Downhole hydraulic pumping system offers a flexible operation for handling a variety of well conditions. Downhole hydraulic pump offers a wide range of pumping rate with fluid control on the surface. Downhole hydraulic pump is the next generation technology that uses a power fluid which provides an additional advantage allowing injection of chemicals to control corrosion, fresh water to dissolve salt and dilutents to reduce viscosity. The operational efficiency makes downhole hydraulic pumping system suitable for slimhole, crocked and horizontal hole operations where other artificial lift methods are not efficient enough. With minimum surface facility requirement this artificial lift method becomes attractive for urban sites, offshore locations and environmentally sensitive areas. However, higher energy cost is one of the major restraints for the selection of downhole hydraulic pumps as an artificial lift method.
Based on type, the downhole hydraulic pump has been segmented into reciprocating positive displacement pump, and jet pumps. While the sucker rod pump incorporates the pump plunger that encompasses the surface of the well and connects to the pumping unit, the downhole hydraulic pump uses the rod which is quite short and extends only to the engine piston. Jet pumps are being adopted at high rate across the globe. Jet pumps can be modified to be accommodated with special bottomhole assembly due to their short length and high volume characteristics. Additionally, downhole hydraulic pump uses natural gas rather than diesel fuel, as well as dual fuel has significantly reduced costs as well as emissions.
Geographically, the U.S. in the North American region is the key market for downhole hydraulic pump. Shale gas production along with increasing number of oil and gas mature field had resulted in higher demand for downhole hydraulic pump in the region. Market for downhole hydraulic pump in Asia-pacific region is experiencing progressive growth. Malaysia, Australia, China and India are leading the market in Asia-Pacific region. In European region Norway, Russia, and U.K. represents key market. Further, significant demand for downhole hydraulic pump in the Middle East, Brazil and North Africa, has led to the growth of the downhole hydraulic pump market.
The key players of the downhole hydraulic market include Dover Artificial Lift, Schlumberger Ltd, Weatherford International Ltd, GE Energy, and Lufkin Industries Inc, JJ Tech, Tech-Flo.
Global Downhole Hydraulic Pump Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2023