Introduction of Pump Jack Market :
Pump Jack Market was valued US$ 2.90 Bn in 2019 and is expected to reach 4.20 Bn by 2027, at a CAGR of 4.74 % during a forecast period.Pump jacks are widely used in the petroleum industry to extract crude oil from wells. These pump jacks are mostly preferred, where there is not enough pressure to push oil to the surface.
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Each and every insights presented in the reports published by expert group of Maximize Market Research, which is derived from primary interviews with top officials from leading companies of the domain concerned. Report’s secondary data research methodology includes deep online and offline research and discussion with expert professionals and analysts in the industry. In report, Pump Jack Market reports, industry trends have been explained on the macro level, which is expected to help to finding outline market landscape and probable future issues.
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COVID-19 Impact on Pump Jack Market:
The report has identified detailed impact of COVID-19 on Pump Jack Market in regions such as North America, Asia Pacific, Middle-East, Europe, and South America. The report provides Comprehensive analysis on alternatives, difficult conditions, and difficult scenarios of Pump Jack Market during this crisis. The report briefly elaborates the advantages as well as the difficulties in terms of finance and market growth attained during the COVID-19. In addition, report offers a set of concepts, which is expected to aid readers in deciding and planning a strategy for their business.
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Pump Jack Market Segmentation:
Pump Jack Market size is studied using various approaches and analyses in this research report to provide reliable and in-depth information about the industry. It is segmented into numerous segments to cover various aspects of the market for a better understanding.
Global Pump Jack Market, By Well Type
• Vertical Well
• Horizontal Well
Global Pump Jack Market, By Weight
• Less Than 100,000 lbs
• 100,000 lbs to 300,000 lbs
• More Than 300,000 lbs
Global Pump Jack Market, By Application
• Onshore
• Offshore
Global Pump Jack Market, By Geography
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Pump Jack Market Regional Insights:
- Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)
- Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
- North America (the United States, Mexico, and Canada.)
- South America (Brazil etc.)
- The Middle East and Africa (GCC Countries and Egypt.)
Key players:
The research report includes the current Pump Jack Market size of the market and its growth rates based on 5-year statistics and records with company summary of Key players:
• Schlumberger Limited
• Tenaris S.A.
• National Oil well Varco
• Hess Corporation
• Star Hydraulics
• General Electric Company
• Weatherford International
• Halliburton
• Dover Corporation
• Borets International
• Dansco Manufacturing, Inc.
• Pentag Gears & Oilfield Equipment, Ltd
• L S Petrochem Equipment Corporation
• Cook Pump Company
• Allspeeds Ltd.
• KBA Engineering, LLC.
Prime Reasons to purchase a Pump Jack Market research report:
The goal of this research report is to help consumers to gain a more information and clearer understanding of the industry. The Pump Jack Market growth analysis includes development trends, competitive landscape analysis, investment plan, business strategy, opportunity, and key regions development status for international markets.
- The Pump Jack Market overview and the analysis of several affecting elements such as drivers, restraints, and opportunities.
- Porter's Five Force Analysis and SWOT analysis are used to define, characterise, and analyse the market competition landscape, with a focus on key players.
- Extensive analysis into the global Temperature Sensor competitive landscape
- Identification and analysis of micro and macro elements that influence and will influence market growth.
- A comprehensive list of major market players in the global Temperature Sensor industry.
- In the Pump Jack Market, it provides a descriptive study of demand-supply chaining.
- Statistical study of certain key economic statistics
- Figures, charts, graphs, and illustrations are used to clearly describe the market.
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With the surge in the number of mature oilfields around the world, the demand for pump jacks is growing rapidly, especially in the petroleum industry.
A majority of these oilfields have already reached their saturation points and therefore, produce very less oil.
As these wells cannot be restarted economically once they are closed down, they are kept alive with the help of pump jacks.
These devices enable the extraction of even the last few barrels of oil from these fields.As onshore oil drilling has higher cost-effectiveness than offshore oil drilling, it is being increasingly preferred by oil and gas exploration and production companies around the world.
North America is home to numerous mature onshore oil wells, where pump jacks can be utilized extensively for achieving higher operational efficiency and extracting the remaining oil from the wells.Due to the above-mentioned factors, the sales of pump jacks are soaring all over the world.
This is, in turn, fueling the expansion of the global pump jack market.
Global pump jack market was valued US$ 2.90 Bn in 2017 and is expected to reach 4.20 Bn by 2026, at a CAGR of 4.74 % during a forecast period.
Limited number of the offshore oil fields and requirement of high cost for its maintenance are limiting the growth in the global pump jack market.
They are simply accessible or well connected to monitoring facilities.
The growth in the market can be attributed to increasing in concern towards the utilization of unconventional energy resources.
For the extraction of the oilfield, some of the technologies like artificial lifting through jack pumps, gas lift, and other methods are optimizing to increase production capacity The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology.
The report also helps in understanding dynamics, structure by analysing the market segments by well type, weight and region and, projects the global pump jack market.
