Aug 4, 2017   SOURCE: BusinessWire

Global Pump Jack Market to Reach $3.6 Billion by 2022 - Key Players are Schlumberger, Halliburton, General Electric Oil & Gas, Weatherford International, Dover Corporation & Borets International - Research and Markets

The "Pump Jack Market by Well Type (Vertical and Horizontal), Application (Onshore and Offshore), Weight (Less Than 100,000 Lbs, 100,000 Lbs to 300,000 Lbs, and More Than 300,000 Lbs), and by Region - Global Trends and Forecast to 2022" report has been added to Research and Markets' offering.

The pump jack market is projected to reach USD 3.63 billion by 2022, growing at a CAGR of 4.88%, from 2017 to 2022.

The pump jack is used as an artificial method to produce crude oil from stripper wells and matured oil fields. Approximately two-thirds of the producing oil wells, globally use pump jack for artificially lifting oil from matured wells. Low cost installation, efficiency, and ease of operation makes pump jacks widely accepted in onshore applications. Moderate to high maintenance cost along with limited offshore in oil fields, are constraints for the pump jack market.

The vertical well segment constitutes the largest segment of the pump jack market, by well type, in terms of value. The vertical well is estimated to be the fastest growing segment due to pump jack's limited application in the horizontal well segment. The vertical drilling is the oldest drilling methods used to extract oil to the surface and the majority of wells drilled for oil production, are vertically oriented. Most of these require pump jacks to produce liquid hydrocarbons. Rising number of matured fields along with increasing energy demands from emerging economics, would drive the pump jack market.

Companies Mentioned

  • Borets International
  • Cook Pump Company
  • Dansco Manufacturing, Inc
  • Dover Corporation
  • General Electric Company
  • Halliburton
  • Hess Corporation
  • L S Petrochem Equipment Corporation
  • National Oilwell Varco
  • Pentag Gears & Oilfield Equipment, Ltd
  • Schlumberger Limited
  • Star Hydraulics
  • Tenaris S.A.
  • Weatherford International

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Pump Jack Market By Well Type

7 Pump Jack Market By Weight

8 Pump Jack Market By Application

9 Pump Jack Market By Region

10 Competitive Landscape

11 Company Profiles

For more information about this report visit https://www.researchandmarkets.com/research/f9x6s8/pump_jack_market