Argentina Artificial Lift Systems Market Outlook

argentina artificial lift systems market is expected to witness significant growth over the next decade. the market is majorly driven by public and private initiatives towards the development of unconventional resources. shale gas and tight oil reserves are projected to account for a significant share of the total domestic oil production by 2021. the government of argentina has also taken initiatives to develop the country's energy sector. in this regard, investments are being made in the infrastructure for advanced drilling and production techniques. this will support the country's ambitions of achieving energy self-sufficiency in and increase in its hydrocarbon reserves. the large-scale development of unconventional resources in argentina is paving the way for increased use of artificial lift systems in the country. the main types of artificial lift systems that are used in argentina are electric submersible pumps (esps), progressive cavity pumps (pcps), plunger lifts, and gas-lift systems. the esps are the most common type used in the country. they are suitable for highly deviated and extended-reach wells and offer the highest degree of reliability and efficiency. in recent times, technological advancements in artificial lift systems have allowed operators to achieve enhanced production against lower costs. this has been beneficial for the country’s small and medium sized field operators as these offer them easily deployable, maintenance-free systems, suitable for tougher production requirements. moreover, industry participants are striving to provide remote monitoring and control services to monitor and operate artificial lift systems. this will further contribute to the industry growth. in conclusion, factors such as the rise in the production from unconventional resources in argentina, technological advancements in artificial lift systems, and government initiatives towards the development of the country's energy sector are expected to drive the growth of the market during 2018-2032.