Global Pump Jack Market Analysis and Forecast to 2023

  • ID: 4435229
  • Report
  • Region: Global
  • 105 pages
  • P&S Market Research
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FEATURED COMPANIES

  • Cook Pump Company
  • General Electric Company
  • Halliburton Company
  • JCPump, LLC
  • Schlumberger Limited
  • Weatherford International
  • MORE
Global Pump Jack market valued $2.7 Billion in 2016:

According to the study, 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.

Insights on Market Segments:

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.

North America Stands as the Largest Pump Jack Market:

Globally, North America represents a major share in the pump jack market and is expected to remain the largest market in future. In North America, increasing concern towards the utilization of unconventional energy resources; whereas, the redevelopment of mature oil and gas fields are continuously overlooked. Numerous mature oil and gas fields have been exhausted while producing at commercial rates. Companies specializing in mature field redevelopment can more competently access and produce the remaining oil and gas from mature fields and utilize technology to optimize production capacity; technologies such as artificial lifting through jack pumps, gas lift, and other methods.

As per the European Parliamentary Research Service (EPRS), the U.S. had become the world’s largest producer of natural gas and accounted for almost 20% of global gas production in 2012. The same year, the U.S. and Canada together accounted for 14% of the global oil production, as compared to Saudi Arabia which accounted for 13% of the global oil production.

The mature field redevelopment prospects show improved return on investment (ROI). Hence, there are plenty of opportunities in the North American pump jack market, which will boost the pump jacks demand for the artificial lift.

Remote Monitoring Feature is a Key Opportunity Observed in this Market:

Pump jack’s performance can be remotely monitored and does not require manual monitoring. It makes operations more efficient and cost effective by monitoring on/off events, following trends, and sending alarms. Jack pump monitoring also ensures quick resolution of asset repair and keeps the downtime to minimum.

There are various benefits of jack pumps monitoring such as quick response in case of shut down event to resolve problem, instant notification in case of unexpected shut down of pump jacks, alarms can be set via email, text message or phone call.

For oil wells with low production, this is a major benefit as it ensures that running costs do not outstrip oil supply levels.

Competitive Landscape:

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.
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FEATURED COMPANIES

  • Cook Pump Company
  • General Electric Company
  • Halliburton Company
  • JCPump, LLC
  • Schlumberger Limited
  • Weatherford International
  • MORE
1. Research Background
1.1 Research Objectives
1.2 Market Definition
1.3 Research Scope
1.3.1 Market Segmentation by Application
1.3.2 Market Segmentation by Well Type
1.3.3 Market Segmentation by Weight
1.3.4 Market Segmentation by Geography
1.3.5 Analysis Period
1.3.6 Market Data Reporting Unit
1.3.6.1 Value
1.4 Key Stakeholders

2. Research Methodology
2.1 Secondary Research
2.2 Primary Research
2.2.1 Breakdown of Primary Research Respondents
2.2.1.1 By region
2.2.1.2 By industry participant
2.2.1.3 By company type
2.3 Market Size Estimation
2.4 Data Triangulation
2.5 Assumptions for the Study

3. Executive Summary

4. Introduction
4.1 Definition of Market Segments
4.1.1 By Application
4.1.1.1 Onshore fields
4.1.1.2 Offshore fields
4.1.2 By Well Type
4.1.2.1 Vertical Wells
4.1.2.2 Horizontal Wells
4.1.3 By Weight
4.1.3.1 Less than 100,000 lbs
4.1.3.2 100,000 lbs to 300,000 lbs
4.1.3.3 More Than 300,000 lbs
4.2 Market Dynamics
4.2.1 Trends
4.2.1.1 Need to develop an automated solution for the extraction of oil from mature oil fields
4.2.2 Drivers
4.2.2.1 Growing energy demand and increasing exploration and production activities
4.2.2.2 Increasing use of artificial lift systems
4.2.2.3 Increasing mature onshore oil fields
4.2.2.4 Impact analysis of drivers on market forecast
4.2.3 Restraints
4.2.3.1 Limited use in offshore fields
4.2.3.2 Moderate to high maintenance costs
4.2.4 Opportunity
4.2.4.1 Remote monitoring
4.3 Porter's Five Forces Analysis
4.3.1 Intensity of Rivalry
4.3.2 Threat of New Entrants
4.3.3 Bargaining Power of Buyers
4.3.4 Bargaining Power of Suppliers
4.3.5 Threat of Substitutes

5. Global Market Size and Forecast
5.1 By Application
5.2 By Well Type
5.3 By Weight
5.4 By Region

6. North America Market Size and Forecast
6.1 North America Pump Jack Market, by Application
6.2 North America Pump Jack Market, by Well Type
6.3 North America Pump Jack Market, by Weight
6.4 North America Pump Jack Market, by Country

7. Europe Market Size and Forecast
7.1 Europe Pump Jack Market, by Application
7.2 Europe Pump Jack Market, by Well Type
7.3 Europe Pump Jack Market, by Weight
7.4 Europe Pump Jack Market, by Country

8. Asia-Pacific Market Size and Forecast
8.1 Asia-Pacific Pump Jack Market, by Application
8.2 Asia-Pacific Pump Jack Market, by Well Type
8.3 Asia-Pacific Pump Jack Market, by Weight
8.4 Asia-Pacific Pump Jack Market, by Country

9. Latin America Market Size and Forecast
9.1 Latin America Pump Jack Market, by Application
9.2 Latin America Pump Jack Market, by Well Type
9.3 Latin America Pump Jack Market, by Weight
9.4 Latin America Pump Jack Market, by Country

10. Middle East and Africa Market Size and Forecast
10.1 MEA Pump Jack Market, by Application
10.2 MEA Pump Jack Market, by Well Type
10.3 MEA Pump Jack Market, by Weight
10.4 MEA Pump Jack Market, by Country

11. Company Profile
11.1 Schlumberger Limited
11.1.1 Business Overview
11.1.2 Product and Service Offerings
11.1.3 Key Financial Summary
11.1.4 Strategic Growth Plans
11.1.5 Strategic Development
11.2 General Electric Company
11.2.1 Business Overview
11.2.2 Product and Service Offerings
11.2.3 Key Financial Summary
11.2.4 Strategic Growth Plans
11.2.5 Strategic Development
11.3 JCPump, LLC
11.3.1 Business Overview
11.3.2 Product and Service Offerings
11.4 Young's Welding Inc.
11.4.1 Business Overview
11.4.2 Product and Service Offerings
11.5 Halliburton Company
11.5.1 Business Overview
11.5.2 Product and Service Offerings
11.5.3 Key Financial Summary
11.5.4 Strategic Growth Plans
11.5.5 Strategic Development
11.6 Weatherford International
11.6.1 Business Overview
11.6.2 Product and Service Offerings
11.6.3 Key Financial Summary
11.6.4 Strategic Growth Plans
11.7 Cook Pump Company
11.7.1 Business Overview
11.7.2 Product and Service Offerings
11.8 Drake Manufacturing Company, Inc.
11.8.1 Business Overview
11.8.2 Product and Service Offerings
11.9 Dansco Manufacturing, Inc.
11.9.1 Business Overview
11.9.2 Product and Service Offerings
11.1 LS Petrochem Equipment Corporation
11.10.1 Business Overview
11.10.2 Product and Service Offerings

12. Appendix
12.1 Abbreviations

List of Tables:

Table 1 Analysis Period Of The Study
Table 2 Drivers For The Pump Jack Market: Impact Analysis
Table 3 Restraints For The Market: Impact Analysis
Table 4 Global Pump Jack Market, By Application, $M (2013 - 2016)
Table 5 Global Pump Jack Market, By Application, $M (2017 - 2023)
Table 6 Global Pump Jack Market, By Well Type, $M (2013 - 2016)
Table 7 Global Pump Jack Market, By Well Type, $M (2017 - 2023)
Table 8 Global Pump Jack Market, By Weight, $M (2013 - 2016)
Table 9 Global Pump Jack Market, By Weight, $M (2017 - 2023)
Table 10 Global Pump Jack Market, By Region, $M (2013 - 2016)
Table 11 Global Pump Jack Market, By Region, $M (2017 - 2023)
Table 12 North America Pump Jack Market, By Application, $M (2013 - 2016)
Table 13 North America Pump Jack Market, By Application, $M (2017 - 2023)
Table 14 North America Pump Jack Market, By Well Type, $M (2013 - 2016)
Table 15 North America Pump Jack Market, By Well Type, $M (2017 - 2023)
Table 16 North America Pump Jack Market, By Weight, $M (2013 - 2016)
Table 17 North America Pump Jack Market, By Weight, $M (2017 - 2023)
Table 18 North America Pump Jack Market, By Country, $M (2013 - 2016)
Table 19 North America Pump Jack Market, By Country, $M (2017 - 2023)
Table 20 Europe Pump Jack Market, By Application, $M (2013 - 2016)
Table 21 Europe Pump Jack Market, By Application, $M (2017 - 2023)
Table 22 Europe Pump Jack Market, By Well Type, $M (2013 - 2016)
Table 23 Europe Pump Jack Market, By Well Type, $M (2017 - 2023)
Table 24 Europe Pump Jack Market, By Weight, $M (2013 - 2016)
Table 25 Europe Pump Jack Market, By Weight, $M (2017 - 2023)
Table 26 Europe Pump Jack Market, By Country, $M (2013 - 2016)
Table 27 Europe Pump Jack Market, By Country, $M (2017 - 2023)
Table 28 Asia-Pacific Pump Jack Market, By Application, $M (2013 - 2016)
Table 29 Asia-Pacific Pump Jack Market, By Application, $M (2017 - 2023)
Table 30 Asia-Pacific Pump Jack Market, By Well Type, $M (2013 - 2016)
Table 31 Asia-Pacific Pump Jack Market, By Well Type, $M (2017 - 2023)
Table 32 Asia-Pacific Pump Jack Market, By Weight, $M (2013 - 2016)
Table 33 Asia-Pacific Pump Jack Market, By Weight, $M (2017 - 2023)
Table 34 Asia-Pacific Pump Jack Market, By Country, $M (2013 - 2016)
Table 35 Asia-Pacific Pump Jack Market, By Country, $M (2017 - 2023)
Table 36 Latin America Pump Jack Market, By Application, $M (2013 - 2016)
Table 37 Latin America Pump Jack Market, By Application, $M (2017 - 2023)
Table 38 Latin America Pump Jack Market, By Well Type, $M (2013 - 2016)
Table 39 Latin America Pump Jack Market, By Well Type, $M (2017 - 2023)
Table 40 Latin America Pump Jack Market, By Weight, $M (2013 - 2016)
Table 41 Latin America Pump Jack Market, By Weight, $M (2017 - 2023)
Table 42 Latin America Pump Jack Market, By Country, $M (2013 - 2016)
Table 43 Latin America Pump Jack Market, By Country, $M (2017 - 2023)
Table 44 MEA Pump Jack Market, By Application, $M (2013 - 2016)
Table 45 MEA Jack Market, By Application, $M (2017 - 2023)
Table 46 MEA Pump Jack Market, By Well Type, $M (2013 - 2016)
Table 47 MEA Pump Jack Market, By Well Type, $M (2017 - 2023)
Table 48 MEA Pump Jack Market, By Weight, $M (2013 - 2016)
Table 49 MEA Pump Jack Market, By Weight, $M (2017 - 2023)
Table 50 MEA Pump Jack Market, By Country, $M (2013 - 2016)
Table 51 MEA Pump Jack Market, By Country, $M (2017 - 2023)
Table 52 Schlumberger Limited - At A Glance
Table 53 Schlumberger Limited - Key Financial Summary
Table 54 General Electric Company - At A Glance
Table 55 General Electric Company - Key Financial Summary
Table 56 Jcpump, Llc - At A Glance
Table 57 Young's Welding Inc. - At A Glance
Table 58 Halliburton Company - At A Glance
Table 59 Halliburton Company - Key Financial Summary
Table 60 Weatherford International - At A Glance
Table 61 Weatherford International - Key Financial Summary
Table 62 Cook Pump Company - At A Glance
Table 63 Drake Manufacturing Company, Inc. - At A Glance
Table 64 Dansco Manufacturing, Inc. - At A Glance
Table 65 Ls Petrochem Equipment Corporation - At A Glance

List of Figures:

Figure 1 Research Scope
Figure 2 Research Methodology
Figure 3 Regional Split Of Primary And Secondary Research
Figure 4 Breakdown Of Primary Research By Region
Figure 5 Breakdown Of Primary Research By Industry Participant
Figure 6 Breakdown Of Primary Research By Company Type
Figure 7 Data Triangulation Approach
Figure 8 Global Pump Jack Market Summary
Figure 9 Global Oil Demand Forecast (2014-2040)
Figure 10 Porter's Five Forces Analysis
Figure 11 Global Pump Jack Market, By Application, $M (2013 - 2023)
Figure 12 Global Pump Jack Market, By Well Type, $M (2013 - 2023)
Figure 13 Global Pump Jack Market, By Weight, $M (2013 - 2023)
Figure 14 North America Pump Jack Market Snapshot
Figure 15 Europe Pump Jack Market Snapshot
Figure 16 Asia-Pacific Pump Jack Market Snapshot
Figure 17 Latin America Pump Jack Market Snapshot, Based On Value
Figure 18 MEA Pump Jack Market Snapshot
Figure 19 Revenue Split By Geography And Segment (2016)
Figure 20 Revenue Split By Geography And Segment (2016)
Figure 21 Revenue Split By Geography And Segment (2016)
Figure 22 Revenue Split By Geography And Segment (2016)
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  • 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
Note: Product cover images may vary from those shown
5 of 4
Note: Product cover images may vary from those shown
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