Artificial Rod Lift Market Share

On the basis of geographical analysis, the global artificial rod lift market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America industry is estimated to account for largest revenue share by 2036, owing to increasing oil production, led by presence of large oil reserves in the region. Canada is the 4^th largest producer and exporter of oil, globally, and holds over 10% of the world’s share for oil wells.

The market in Middle East and Africa region is estimated to witness noteworthy growth over the forecast period on the back of presence of large number of oil reserves, and increasing international trade of crude oil. The increasing demand for crude oil for exportation is estimated to boost the market growth in the region.