Global Pump Jack Market, By Well Type (Horizontal Well & Vertical Well), By Application (Offshore &

Published Date: | Report Code : EQ195841

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Market Dynamics:

The Pump Jack  Market is expected to promise high growth owing to growing oil and gas exploration activities around the world in recent years. Increasing demand from applications including offshore & onshore is expected to drive the growth of the market. This market has witnessed a number of key developments by major companies including Schlumberger Limited, General Electric Oil and Gas, Dover Corporation, Tenaris, Weatherford International, LS Petrochem with a focus on organic as well as inorganic growth strategies. Developing regions including the Asia Pacific and the Middle East have been among the high potential markets with high growth in some of the key economies.

A pump jack is an overground drive for a reciprocating piston pump. It is used to lift liquid out of the well mechanically if not enough bottom hole pressure is produced for the liquid to flow all the way up to the surface. This kind of arrangement is commonly used for onshore wells that produce little oil. Pump jacks can be commonly seen in oil-rich areas.

Depleting oil resources around the world is creating pressures to the oil-exploring companies to extract as many natural minerals as possible. Pump jacks help the explorers to extract minerals from the depleting oil wells. The growing oil and gas exploration activities and the new discoveries of oil and gas fields are driving the market of pump jacks for the oil and gas exploration activities.

Some of the key Impact Factors:

  • Running cost does not outweigh the oil production cost
  • The growing oil and gas exploration activities around the world

Regional Analysis:

Major regions for the pump jack market are estimated to North America, Western Europe, and the Asia Pacific. North America and Western Europe have been traditional markets for the pump jack owing to the strong presence of the industrial sector. The industrial sector has been one of the key contributors to the economies in these regions. Major industries in these regions are estimated to be offshore & onshore. These industries have an established base resulting in stable market demand. Moreover, most of these industries have been witnessing a transition in terms of product development and production methods. These factors are expected to drive the demand for the pump jack market in North America and Western Europe region. Major markets by country in these regions include the US, Germany, France, UK, Canada, Spain, and others.

The Asia Pacific and the Middle East region has witnessed tremendous growth in the industrial sector in recent years. Major companies operating in this market have made strategic developments to improve market presence in these regions. In addition to this, some of the fastest-growing economies including China and India have been major markets for various end-use industries including building & construction, automotive, healthcare, manufacturing, and so on. Among these industries, offshore & onshore are estimated to register a high demand for the pump jack market during the forecast period.

Middle East region has witnessed diversification in terms of industrial outlook in recent decades. UAE, Saudi Arabia, Qatar, and others have been instrumental in promoting the development of various industries including building & construction, pharmaceuticals, automotive, and so on. This is expected to drive the growth of the pump jack market directly or indirectly in the region. Eastern Europe consisting of Russia and Turkey promises a stable demand for the pump jack market during the forecast period. The rest of the World including South America and Africa are estimated to be a developing market with strong potential in the strategic future.

Companies Covered: Schlumberger Limited, General Electric Oil and Gas, Dover Corporation, Tenaris, Weatherford International, LS Petrochem, Cook Pump Company, Drake Manufacturing Co, Inc., Allspeeds Ltd., KBA Engineering and LLC.

Market Segmentation:

By Well Type:

  • Horizontal Well
  • Vertical Well

By Application:

  • Offshore
  • Onshore

By Region:

  • North America
    • By Country (US, Canada, Mexico)
    • By Well Type
    • By Application
  • Western Europe
    • By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
    • By Well Type
    • By Application
  • Eastern Europe
    • By Country (Russia, Turkey, Rest of Eastern Europe)
    • By Well Type
    • By Application
  • Asia Pacific
    • By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
    • By Well Type
    • By Application
  • Middle East
    • By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
    • By Well Type
    • By Application
  • Rest of the World
    • By Region (South America, Africa)
    • By Well Type
    • By Application

Reasons to buy this report:

  • Market size estimation of pump jack market on a regional and global basis
  • The unique research design for market size estimation and forecasts
  • Profiling of the major companies operating in the market with key developments
  • Broad scope to cover all the possible segments helping every stakeholder in the market

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