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Global Pump Jack Market: By Well Type: Vertical Well, Horizontal Well; By Weight: Less Than 100,000 lbs., 100,000 lbs. to 300,000 lbs., More Than 300,000 lbs.; By Application: Onshore, Offshore; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments
Global Pump Jack Market Outlook
The global pump jack market is estimated to grow at a CAGR of 5.3% during the forecast period of 2023-2028.
The global pump jack market is driven by the rising need to save the situation of reduced reservoir pressure, which minimises the production rate of oil from an oil well. Thus, the pump jacks are installed in reservoirs to obtain the oil. Currently, the pump jacks are extensively used to extract oil from the oil wells. They also aid in extending the life span of oil wells by recovering a substantial amount of crude oil.
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Market Segmentation
A pump jack in an oil well is a reciprocal piston motor. Since, sub-surface liquids (i.e., oil and water) cannot reach the ground if the bottom-hole pressure in an oil well is inadequate, a pump jack is used to lift the oil out of an oil well manually.
The pump jack market can be broadly categorised based on well types, weight, and applications.
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Based on well type, the industry is divided into:
- Vertical Well
- Horizontal Well
Based on weight, the industry is segmented into:
- Less than 100,000 lbs.
- 100,000 lbs. to 300,000 lbs.
- More Than 300,000 lbs.
Based on application, the industry is broadly divided into:
- Onshore
- Offshore
The EMR report looks into the regional markets of pump jack like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
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Market Analysis
The global pump jack market is driven by the increase in the global demand for crude oil. Renewable energy sources are used in a wide range of applications; however, traditional fossil fuels are still favoured over renewable energy sources. Another factor driving the pump jack demand is the increase in the number of brown or mature oilfields around the world. Most of the existing oilfields are being produced in the mature stage. Extracting oil from such mature fields is difficult for primary and secondary oil recovery techniques. A pump jack is an alternative for such areas, being simple and of low-cost. Roughly two-thirds of the world's oil wells still use pump jack systems. Nonetheless, there are certain restrictions on the pump jack market. For deep and ultra-deep wells, pump jacks do not apply. Also, they are generally not considered for offshore applications. It is expected that these limitations might hamper the pump jack market.
Competitive Landscape
The report presents a detailed analysis of the following key players in the global pump jack market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Schlumberger Limited (NYSE: SLB)
- Sanjack Petro
- Weatherford International
- Drake Manufacturing Co, Inc.
- Werner Co.
- Others
The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter's Five Forces model.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Well Type, Weight, Application, Region |
| Breakup by Well Type | Vertical Well, Horizontal Well |
| Breakup by Weight | Less Than 100,000 lbs., 100,000 lbs. to 300,000 lbs., More Than 300,000 lbs. |
| Breakup by Application | Onshore, Offshore |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Schlumberger Limited (NYSE: SLB), Sanjack Petro, Weatherford International, Drake Manufacturing Co, Inc., Werner Co., Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global Pump Jack Market Analysis
8.1 Key Industry Highlights
8.2 Global Pump Jack Historical Market (2018-2022)
8.3 Global Pump Jack Market Forecast (2023-2028)
8.4 Global Pump Jack Market by Well Type
8.4.1 Vertical Well
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Horizontal Well
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.5 Global Pump Jack Market by Weight
8.5.1 Less Than 100,000 lbs.
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 100,000 lbs. to 300,000 lbs.
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 More Than 300,000 lbs.
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.6 Global Pump Jack Market by Application
8.6.1 Onshore
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Offshore
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.7 Global Pump Jack Market by Region
8.7.1 Market Share
8.7.1.1 North America
8.7.1.2 Europe
8.7.1.3 Asia Pacific
8.7.1.4 Latin America
8.7.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 ASEAN
9.3.3.5 Australia
9.3.3.6 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Competitive Landscape
11.1 Market Structure
11.2 Company Profiles
11.2.1 Schlumberger Limited (NYSE: SLB)
11.2.1.1 Company Overview
11.2.1.2 Product Portfolio
11.2.1.3 Demographic Reach and Achievements
11.2.1.4 Certifications
11.2.2 Sanjack Petro
11.2.2.1 Company Overview
11.2.2.2 Product Portfolio
11.2.2.3 Demographic Reach and Achievements
11.2.2.4 Certifications
11.2.3 Weatherford International
11.2.3.1 Company Overview
11.2.3.2 Product Portfolio
11.2.3.3 Demographic Reach and Achievements
11.2.3.4 Certifications
11.2.4 Drake Manufacturing Co, Inc.
11.2.4.1 Company Overview
11.2.4.2 Product Portfolio
11.2.4.3 Demographic Reach and Achievements
11.2.4.4 Certifications
11.2.5 Werner Co.
11.2.5.1 Company Overview
11.2.5.2 Product Portfolio
11.2.5.3 Demographic Reach and Achievements
11.2.5.4 Certifications
11.2.6 Others
12 Industry Events and Developments
List of Key Figures and Tables
1. Global Pump Jack Market: Key Industry Highlights, 2018 and 2028
2. Global Pump Jack Historical Market: Breakup by Well Type (USD Million), 2018-2022
3. Global Pump Jack Market Forecast: Breakup by Well Type (USD Million), 2023-2028
4. Global Pump Jack Historical Market: Breakup by Weight (USD Million), 2018-2022
5. Global Pump Jack Market Forecast: Breakup by Weight (USD Million), 2023-2028
6. Global Pump Jack Historical Market: Breakup by Application (USD Million), 2018-2022
7. Global Pump Jack Market Forecast: Breakup by Application (USD Million), 2023-2028
8. Global Pump Jack Historical Market: Breakup by Region (USD Million), 2018-2022
9. Global Pump Jack Market Forecast: Breakup by Region (USD Million), 2023-2028
10. North America Pump Jack Historical Market: Breakup by Country (USD Million), 2018-2022
11. North America Pump Jack Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Europe Pump Jack Historical Market: Breakup by Country (USD Million), 2018-2022
13. Europe Pump Jack Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Asia Pacific Pump Jack Historical Market: Breakup by Country (USD Million), 2018-2022
15. Asia Pacific Pump Jack Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Latin America Pump Jack Historical Market: Breakup by Country (USD Million), 2018-2022
17. Latin America Pump Jack Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Middle East and Africa Pump Jack Historical Market: Breakup by Country (USD Million), 2018-2022
19. Middle East and Africa Pump Jack Market Forecast: Breakup by Country (USD Million), 2023-2028
20. Global Pump Jack Market Structure
Key Questions Answered in the Report
The global pump jack market is projected to grow at a CAGR of 5.3% between 2021 and 2026.
The major drivers of the industry, such as the increasing global demand for crude oil, rising need to save the situation of reduced reservoir pressure, and the extensive use to extract oil from the oil wells and the aid it provides in extending the life span of oil wells, are expected to aid the market growth.
The key market trend guiding the growth of the pump jack market includes the increase in the number of brown or mature oilfields around the world.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading well types in the industry are vertical well and horizontal well.
The major weights of the product are less than 100,000 lbs., 100,000 lbs. to 300,000 lbs., and more than 300,000 lbs.
The major applications of the product are onshore and offshore.
The major players in the industry are Schlumberger Limited (NYSE: SLB), Sanjack Petro, Weatherford International, Drake Manufacturing Co, Inc., and Werner Co., among others.
Analyst Review
The global pump jack market is driven by increasing global demand for crude oil. Aided by the increase in the number of brown or mature oilfields worldwide, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 5.3%.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its well types, the pump jack industry can be segmented into vertical well and horizontal well. On the basis of weights, the industry is divided into less than 100,000 lbs., 100,000 lbs. to 300,000 lbs., and more than 300,000 lbs. On the basis of application sectors, the industry is bifurcated into onshore and offshore. The major regional markets for the product are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Schlumberger Limited (NYSE: SLB), Sanjack Petro, Weatherford International, Drake Manufacturing Co, Inc., and Werner Co., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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