The global pump jack market was valued at $3.0 billion in 2020, and is projected to reach $5.1 billion by 2030, growing at a CAGR of 5.2% from 2021 to 2030.
Pumpjacks are the subsurface mechanical drive which pumps up fluids from oil well in onshore and offshore applications. These are also known as nodding donkeys. Submersible pumps in the deep ground are driven by motors above the ground and hence its lifts up oi/liquid from wells. Pumpjack consists of various mechanical components including power shafts, cranks, counter weights, horse head, polished rod, walking beams, and others. Its working depends on design considerations such as pump angle, fluid weight & density, surface well head, weight of counter weights, and others.
Rise in demand for petroleum products from developing economies, increase in demand for plastic or PVC products which are derived from petroleum products in developing economies significantly contribute toward the growth of the global market. However, reduction in number of fuel stations owing to rapid growth of electric vehicle industry and stringent government regulations toward the use of conventional fuels in transportation and power generation industry are expected to hamper the growth of the pumpjack market, globally. Conversely, the rise in investment toward oil & gas exploration and production activities are expected to create potential growth opportunity for key players operating in this market.
The pump jack market is segmented on the basis of well type, application and region. By well type, the market is bifurcated into vertical well and horizontal well. On the basis of application, it is categorized into onshore and offshore. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Other companies operating in the pump jack market are Dover Corporation, Halliburton Company, Allspeeds LLC, Cook Pump Company, Star Hydraulics, Tenaris S.A., Borets International, Pentag Gears & Oilfield Equipment Ltd. and others.
Pumpjacks are the subsurface mechanical drive which pumps up fluids from oil well in onshore and offshore applications. These are also known as nodding donkeys. Submersible pumps in the deep ground are driven by motors above the ground and hence its lifts up oi/liquid from wells. Pumpjack consists of various mechanical components including power shafts, cranks, counter weights, horse head, polished rod, walking beams, and others. Its working depends on design considerations such as pump angle, fluid weight & density, surface well head, weight of counter weights, and others.
Rise in demand for petroleum products from developing economies, increase in demand for plastic or PVC products which are derived from petroleum products in developing economies significantly contribute toward the growth of the global market. However, reduction in number of fuel stations owing to rapid growth of electric vehicle industry and stringent government regulations toward the use of conventional fuels in transportation and power generation industry are expected to hamper the growth of the pumpjack market, globally. Conversely, the rise in investment toward oil & gas exploration and production activities are expected to create potential growth opportunity for key players operating in this market.
The pump jack market is segmented on the basis of well type, application and region. By well type, the market is bifurcated into vertical well and horizontal well. On the basis of application, it is categorized into onshore and offshore. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
- The report includes in-depth analysis of different segments and provides market estimations between 2021 and 2030.
- A comprehensive analysis of the factors that drive and restrict the growth of the global pump jack market is provided.
- Porter’s five forces model illustrates the potency of buyers & sellers, which is estimated to assist the market players to adopt effective strategies.
- Estimations and forecast are based on factors impacting the global pump jack market growth, in terms of value.
- Key market players are profiled to gain an understanding of the strategies adopted by them.
- This report provides a detailed analysis of the current global pump jack market trends and future estimations from 2021 to 2030, which helps identify the prevailing market opportunities.
KEY MARKET SEGMENTS
By Well Type
- Vertical Well
- Horizontal Well
By Application
- Onshore
- Offshore
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
KEY MARKET PLAYERS
- Dansco
- Drake Manufacturing Co., Inc.
- Hess Corporation
- KBA Engineering, LLC
- LS Petrochem Equipment Corp.
- National-Oilwell Varco, Inc.
- Shengji Group Co., Ltd.
- Redhead Artificial Lift Ltd.
- Schlumberger Limited
- Weatherford International Plc.
Other companies operating in the pump jack market are Dover Corporation, Halliburton Company, Allspeeds LLC, Cook Pump Company, Star Hydraulics, Tenaris S.A., Borets International, Pentag Gears & Oilfield Equipment Ltd. and others.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: PUMP JACK MARKET, BY WELL TYPE
CHAPTER 5: PUMP JACK MARKET, BY APPLICATION
CHAPTER 6: PUMP JACK MARKET, BY REGION
CHAPTER 7: COMPETITIVE LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 130 |
| Published | September 2021 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 3 billion |
| Forecasted Market Value ( USD | $ 5.1 billion |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
