Malaysia Artificial Lift Systems Market Outlook

malaysia’s artificial lift systems market is slated to grow steadily between 2018 and 2032. the main demand drivers for the market include, among others, the rising population, increased energy demand, and the need for urban infrastructure development. within the artificial lift systems market, rod pump systems continue to dominate in terms of market share, and are expected to remain major contributors for overall growth in the projected time frame. rod pump systems are used mostly in oil and gas wells due to their low installation and operating costs, and low complexity of repairs and maintenance. meanwhile, progressive cavity pumps are expected to be the fastest growing segment, driven by their higher effectiveness levels for oil recovery. the artificial lift systems market in malaysia is being aided by the increasing trend of deep-well drilling in the country. this enhances the rise and development of advanced downhole technologies, with artificial lift systems being a key focus area. the malaysian government also continues to sanction various measures for the expansion of the oil and gas industry, thus creating prospects for a wide application of artificial lift systems. the malaysian artificial lift systems market is set to witness an overall growth in the number of installations, with the development industry driving demand. companies in the market are taking up measures such as vertical integration, and expanding their product portfolio to capture a larger part of the market share. companies are also launching new products to meet the respective requirements of the operators, and to maintain their leading positions in the market. overall, driven by the growth of the industry and technological advancements, the artificial lift systems market in malaysia is set to exhibit a healthy growth trajectory between 2018 and 2032.