To track and analyze competitive developments, such as contracts & agreements, expansions and investments, new product launches, and mergers & acquisitions in the pump jack market
The pump jack market is projected to grow at a CAGR of 4.88%, from 2017 to 2022.
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.
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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.
“Vertical Well: The largest and fastest growing well type segment of 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.
Report on Pump jack Market 2017-2022 Spreads Across 151 Pages Profiling 14 Companies and Supported with 78 Tables And 37 Figures Available at www.rnrmarketresearch.com/contacts…nt?rname=1155143
*Top 14 Companies Analyzed for This Studies are - The leading players in the pump jack market includes Schlumberger Limited (U.S.), Halliburton (U.S.), General Electric Oil & Gas (U.K.), Weatherford International, PLC (Switzerland), Dover Corporation (U.S.), and Borets International (U.A.E.), among others.
The report’s target audience includes:
- Pump jack manufacturer
- National oil companies
- International oil companies
- Onshore platform operators
- Associations and industry bodies
- Consulting companies dealing with the artificial lift industry
- Onshore logistics authorities
Key point from table of content
6 Pump Jack Market By Well Type
6.2 Vertical Well
6.3 Horizontal Well
7 Pump Jack Market By Weight
7.2 Market Analysis
7.2.1 Less Than 100,000 lbs
8 Pump Jack Market By Application
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