The global artificial lift market is driven by an evergreen demand for energy, substantiated by the use of hydrocarbon resources. Intensive measures taken by key players in the E&P sector to improve production capacities, in both green and brown fields, support the need for artificial lifts. The applicability of these lifts in a wide range of production activities and the increase in yields make these a pivotal part in production activities. Transformer oil consumption is driven by the expanding power grids in developing countries, increasing investments and enhancement of power grids in regions like Europe and North America, and the growing transition towards other renewable sources of energy. Majority of the production capacities are present in North America, Asia-Pacific, and European regions, which also act as a driver for local markets.

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