Increased demand for oil and gas products around the world has resulted in additional pressure on extraction wells. This in turn puts a strain on the exploration companies to exploit more oil from wells, for which downhole hydraulic pumping is essential.

Albany, NY -- (SBWire) -- 02/20/2017 --Downhole Hydraulic Pumps Market: Brief Description

Since the early 1930s, hydraulic pumping has been the chief artificial lifting method, offering several different systems for handling a variety of well conditions. Due to its flexible nature, the downhole-pumping rate can be regulated over a wide range with fluid controls on the surface. Chemicals to control emulsions, paraffin and corrosion, can be inserted downhole with the power fluid, while fresh water can also be added to liquefy salt deposits. When pumping heavy crudes, the power fluid can serve as an effective diluent to reduce the viscosity of the produced fluids. The power fluid can also be heated for handling low-pour-point or heavy crudes. Hydraulic pumping provides energy to move the fluids to the surface after the reservoir pressure is no longer sufficient to do so. The key component of a hydraulic pumping operation is the downhole pump.

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Downhole Hydraulic Pumps Market: Inclusive Insight

Increased demand for oil and gas products around the world has resulted in additional pressure on extraction wells. This in turn puts a strain on the exploration companies to exploit more oil from wells, for which downhole hydraulic pumping is essential. Furthermore, most of the extraction wells being utilized worldwide are mature wells. These wells have been in commercial operation for a long time, and hence their reserves have depleted over the years. To extract more resources from these wells, hydraulic pumps need to be used at most of the extraction sites.

Also, compared to conventional pumps, hydraulic pumping systems turns out to be much more stable, thereby substantially extending the life of the well. A considerable amount of investment is required to set up and operate hydraulic pumping systems from rigs and floating production, storage and offloading (FPSOs), which adds to the cost of fuel. Additionally, wells that have not been properly drilled at the start, tend to be crooked and uneven, which can prove to be a constraint while pumping high-viscosity crude or shale gas. Moreover, environmental agencies propagate that excessive drilling through capstones can deteriorate sub-surface rock formations leading to unstable voids in the earth's crust. These factors, together, contribute to be a collective constraint to the industry.

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Downhole Hydraulic Pumps Market: Segment Analysis

Based on technical specifications, downhole hydraulic pumps can be distinctly categorized into two types: reciprocating pumps (sucker-rod installation) and jet pumps. During the sucker-rod installation, the rod that triggers the pump plunger encompasses the surface of the well and connects to the pumping unit, whereas, in hydraulic pumps, the rod is quite short and extends only to the engine pistons. Alternatively, jet pumps can be modified to fit interchangeably into the bottom-hole assemblies (BHAs) designed for the stroking pumps. Also, special BHAs have been designed for jet pumps to take advantage of their short length and their high-volume characteristics. And, due to their unique features under diverse pumping conditions, jet pumps are considered as a substitute for conventional stroking pumps.

Geographically and based on the number of deepwater rigs, the U.S. accounts for the maximum number of hydraulic pumping systems operating in North America. In Europe, Norway, Russia and the U.K. control the demand market. The Asia Pacific region is led by Malaysia, Australia, China, and India. The Rest of the World also has a significant demand for hydraulic pumps, especially in the Middle East, North Africa, and Brazil.

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Downhole Hydraulic Pumps Market: Key Market Players

Major manufacturers and suppliers of the downhole hydraulic pumps market include Weatherford International Ltd., Schlumberger Ltd., Baker Hughes Inc., GE Energy, and Lufkin Industries Inc.

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