Market Overview:
The global pump jack market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for oil and gas across the globe. Additionally, the growing exploration and production activities in onshore and offshore regions are also contributing to the growth of this market. The vertical well pump jack segment is expected to grow at a higher CAGR than other segments during the forecast period. This can be attributed to its ability to handle high pressure and temperature conditions, which makes it suitable for use in deep wells. The onshore application segment is expected to dominate the global pump jack market during the forecast period owingtothe increasing demand for oil and gas from developed countries such as U.S., Canada,and Norway .
Product Definition:
A pump jack is a device used to extract oil or gas from a well. It consists of an upright frame with a number of hinged metal arms that are attached to the top of the frame. The arms are connected to a cylindrical barrel that is lowered into the well. A motor turns gears inside the barrel, which causes it to rotate and drill into the earth.
Vertical Well:
Vertical well is a type of pumpjack used to raise water or other liquids up from a horizontal wellbore in the earth's crust. The term vertical refers to the position of the liquid being raised, not its direction. Vertical wells can be drilled and completed using standard drilling equipment such as rotary rigs, open-hole pumps, and perforating guns.
Horizontal Well:
Horizontal well is a type of oil drilling rig which consists of a horizontal drill string with attached rotary pump. It is mainly used for extracting petroleum products such as crude oil and natural gas from the ground. Horizontal wells are mostly preferred over vertical wells because it allows the use of smaller equipment, thereby reducing transportation costs and making it economical to produce more energy in comparison to its counterpart.
Application Insights:
Onshore was the largest application segment in 2017 and is expected to continue its dominance over the forecast period. The growth of onshore oil & gas industry is one of the major factors driving product demand in this segment. Moreover, with an increasing number of conventional wells being developed, pump jack is likely to be deployed at a large scale for production purposes.
The offshore market has been growing rapidly owing to increased exploration activities by various companies across the world oceanic basins primarily Persian Gulf and North Sea. Increasing use of subsea pumps along with rising concerns regarding downtime due to mechanical failure or accidents are some other factors propelling product demand in this segment over the forecast period.
Pump jacks have different applications onshore.
Regional Analysis:
North America dominated the global market in terms of revenue with a share of over 60% in 2017. The U.S., being the most developed country, is expected to dominate the North American regional market throughout the forecast period. However, developing countries such as Brazil and Mexico are anticipated to witness significant growth owing to increasing demand for oil & gas from their major trading partners including China and U.
The Asia Pacific regional market is expected to grow at an exponential rate during the forecast period owing to rapid development of offshore wells especially in India.
Growth Factors:
- Increasing demand for oil and gas due to growing population and industrialization.
- Rising investment in the oil and gas sector by governments and private players.
- Technological advancements in drilling and production techniques that are boosting the efficiency of pump jacks.
- Growing exploration activities for unconventional hydrocarbons such as shale gas, tight oil, etc., which is driving the demand for pump jacks globally.
- Stringent environmental regulations that are promoting the use of more efficient pump jack systems
Scope Of The Report
Report Attributes
Report Details
Report Title
Pump Jack Market Research Report
By Type
Vertical Well, Horizontal Well
By Application
Onshore, Offshore
By Companies
Schlumberger, General Electric, Weatherford International, Halliburton, Dover, Borets, Tenaris, National Oilwell Varco, Hess, Star Hydraulics, Schlumberger, Pentag Gears & Oilfield Equipment, L S Petrochem Equipment, Cook Pump
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
241
Number of Tables & Figures
169
Customization Available
Yes, the report can be customized as per your need.
Global Pump Jack Market Report Segments:
The global Pump Jack market is segmented on the basis of:
Types
Vertical Well, Horizontal Well
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Onshore, Offshore
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Schlumberger
- General Electric
- Weatherford International
- Halliburton
- Dover
- Borets
- Tenaris
- National Oilwell Varco
- Hess
- Star Hydraulics
- Schlumberger
- Pentag Gears & Oilfield Equipment
- L S Petrochem Equipment
- Cook Pump
Highlights of The Pump Jack Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Vertical Well
- Horizontal Well
- By Application:
- Onshore
- Offshore
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Pump Jack Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A pump jack is a type of oil well drilling rig.
Some of the key players operating in the pump jack market are Schlumberger, General Electric, Weatherford International, Halliburton, Dover, Borets, Tenaris, National Oilwell Varco, Hess, Star Hydraulics, Schlumberger, Pentag Gears & Oilfield Equipment, L S Petrochem Equipment, Cook Pump.
The pump jack market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Pump Jack Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Pump Jack Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Pump Jack Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Pump Jack Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Pump Jack Market Size & Forecast, 2018-2028
4.5.1 Pump Jack Market Size and Y-o-Y Growth
4.5.2 Pump Jack Market Absolute $ Opportunity
Chapter 5 Global Pump Jack Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Pump Jack Market Size Forecast by Type
5.2.1 Vertical Well
5.2.2 Horizontal Well
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Pump Jack Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Pump Jack Market Size Forecast by Applications
6.2.1 Onshore
6.2.2 Offshore
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Pump Jack Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Pump Jack Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Pump Jack Analysis and Forecast
9.1 Introduction
9.2 North America Pump Jack Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Pump Jack Market Size Forecast by Type
9.6.1 Vertical Well
9.6.2 Horizontal Well
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Pump Jack Market Size Forecast by Applications
9.10.1 Onshore
9.10.2 Offshore
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Pump Jack Analysis and Forecast
10.1 Introduction
10.2 Europe Pump Jack Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Pump Jack Market Size Forecast by Type
10.6.1 Vertical Well
10.6.2 Horizontal Well
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Pump Jack Market Size Forecast by Applications
10.10.1 Onshore
10.10.2 Offshore
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Pump Jack Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Pump Jack Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Pump Jack Market Size Forecast by Type
11.6.1 Vertical Well
11.6.2 Horizontal Well
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Pump Jack Market Size Forecast by Applications
11.10.1 Onshore
11.10.2 Offshore
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Pump Jack Analysis and Forecast
12.1 Introduction
12.2 Latin America Pump Jack Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Pump Jack Market Size Forecast by Type
12.6.1 Vertical Well
12.6.2 Horizontal Well
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Pump Jack Market Size Forecast by Applications
12.10.1 Onshore
12.10.2 Offshore
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Pump Jack Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Pump Jack Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Pump Jack Market Size Forecast by Type
13.6.1 Vertical Well
13.6.2 Horizontal Well
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Pump Jack Market Size Forecast by Applications
13.10.1 Onshore
13.10.2 Offshore
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Pump Jack Market: Competitive Dashboard
14.2 Global Pump Jack Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Schlumberger
14.3.2 General Electric
14.3.3 Weatherford International
14.3.4 Halliburton
14.3.5 Dover
14.3.6 Borets
14.3.7 Tenaris
14.3.8 National Oilwell Varco
14.3.9 Hess
14.3.10 Star Hydraulics
14.3.11 Schlumberger
14.3.12 Pentag Gears & Oilfield Equipment
14.3.13 L S Petrochem Equipment
14.3.14 Cook Pump
