Global $3.8 Billion Pump Jack Market Analysis 2013-2016 and Forecasts 2017-2023 - Research and Markets

The "Global Pump Jack Market Analysis and Forecast to 2023" report has been added to Research and Markets' offering.

The global pump jack market size is likely to grow from $2.7 billion in 2016 to $3.8 billion by 2023. The growth of the pump jack market is mainly driven by increasing number of mature oilfields in North America.

Pump jacks are used in the petroleum industry to extract crude oil from wells, where there is not enough pressure in well to push oil to the surface. These are operated by creating artificial lifting system, which increases the pressure within an oil well to pull the oil to surface. The beam pumping method used by pump jack is the most common method of creating artificial lifting.

As per the findings of research, pump jack market for 100,000 lbs to 300,000 lbs occupied larger share of the global market. They are used where the average depth of the well is 5,500-7,000 feet.

In terms of application, onshore were the largest application area for pump jack market, owing to the rising number of mature fields along with increasing energy demand from emerging economies.

Onshore oil drilling is typically less expensive compared to offshore oil drilling. The majority of ageing wells are in onshore oil fields, hence the demand of jack pump will be higher in onshore oil drilling. The Gulf of Mexico has large number of mature wells drilled by pump jacks, making it one of the largest markets of jack pumps globally.

Some of the major players operating in the pump jack market are Schlumberger Limited, General Electric Company, JCPump LLC, Young's Welding Inc., Halliburton Company, Weatherford International, Cook Pump Company, Drake Manufacturing Company, Inc., Dansco Manufacturing, Inc., and LS Petrochem Equipment Corporation.

Key Topics Covered:

1. Research Background

2. Research Methodology

3. Executive Summary

4. Introduction

5. Global Market Size and Forecast

6. North America Market Size and Forecast

7. Europe Market Size and Forecast

8. Asia-Pacific Market Size and Forecast

9. Latin America Market Size and Forecast

10. Middle East and Africa Market Size and Forecast

11. Company Profiles

  • Cook Pump Company
  • Dansco Manufacturing, Inc.
  • Drake Manufacturing Company, Inc.
  • General Electric Company
  • Halliburton Company
  • JCPump, LLC
  • LS Petrochem Equipment Corporation
  • Schlumberger Limited
  • Weatherford International
  • Young's Welding

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