Pump Jack Market

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.

 

Global Pump Jack Market

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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.

 

Global Pump Jack Market

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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.

 

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.

 

Global Pump Jack Market

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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.

 

Key Highlights of the Report:

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    Opportunities and Challenges in the Market
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    Historical Trend (2018-2022)
            8.4.1.2    Forecast Trend (2023-2028)
        8.4.2    Horizontal Well
            8.4.2.1    Historical Trend (2018-2022)
            8.4.2.2    Forecast Trend (2023-2028)
    8.5    Global Pump Jack Market by Weight
        8.5.1    Less Than 100,000 lbs.  
            8.5.1.1    Historical Trend (2018-2022)
            8.5.1.2    Forecast Trend (2023-2028)
        8.5.2    100,000 lbs. to 300,000 lbs.
            8.5.2.1    Historical Trend (2018-2022)
            8.5.2.2    Forecast Trend (2023-2028)
        8.5.3    More Than 300,000 lbs.  
            8.5.3.1    Historical Trend (2018-2022)
            8.5.3.2    Forecast Trend (2023-2028)
    8.6    Global Pump Jack Market by Application
        8.6.1    Onshore  
            8.6.1.1    Historical Trend (2018-2022)
            8.6.1.2    Forecast Trend (2023-2028)
        8.6.2    Offshore
            8.6.2.1    Historical Trend (2018-2022)
            8.6.2.2    Forecast Trend (2023-2028)
    8.7    Global Pump Jack Market by Region     
        8.7.1    North America
            8.7.1.1    Historical Trend (2018-2022) 
            8.7.1.2    Forecast Trend (2023-2028)
        8.7.2    Europe
            8.7.2.1    Historical Trend (2018-2022) 
            8.7.2.2    Forecast Trend (2023-2028)
        8.7.3    Asia Pacific
            8.7.3.1    Historical Trend (2018-2022) 
            8.7.3.2    Forecast Trend (2023-2028)
        8.7.4    Latin America
            8.7.4.1    Historical Trend (2018-2022) 
            8.7.4.2    Forecast Trend (2023-2028)
        8.7.5    Middle East and Africa
            8.7.5.1    Historical Trend (2018-2022) 
            8.7.5.2    Forecast Trend (2023-2028)
9    North America Pump Jack  Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2022) 
        9.1.2    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Historical Trend (2018-2022) 
        9.2.2    Forecast Trend (2023-2028)
10    Europe Pump Jack Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2022) 
        10.1.2    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Historical Trend (2018-2022) 
        10.2.2    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Historical Trend (2018-2022) 
        10.3.2    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Historical Trend (2018-2022) 
        10.4.2    Forecast Trend (2023-2028)
    10.5   Others
11    Asia Pacific Pump Jack Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2022) 
        11.1.2    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Historical Trend (2018-2022) 
        11.2.2    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Historical Trend (2018-2022) 
        11.3.2    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2022) 
        11.4.2    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Historical Trend (2018-2022) 
        11.5.2    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America Pump Jack Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2022) 
        12.1.2    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2022) 
        12.2.2    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2022) 
        12.3.2    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East and Africa Pump Jack Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2022) 
        13.1.2    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2022) 
        13.2.2    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2022) 
        13.3.2    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2022) 
        13.4.2    Forecast Trend (2023-2028)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Competitive Landscape
    15.1    Market Structure
    15.2    Company Profiles
        15.2.1    Schlumberger Limited (NYSE: SLB)
            15.2.1.1    Company Overview
            15.2.1.2    Product Portfolio
            15.2.1.3    Demographic Reach and Achievements
            15.2.1.4    Certifications
        15.2.2    Sanjack Petro 
            15.2.2.1    Company Overview
            15.2.2.2    Product Portfolio
            15.2.2.3    Demographic Reach and Achievements
            15.2.2.4    Certifications
        15.2.3    Weatherford International
            15.2.3.1    Company Overview
            15.2.3.2    Product Portfolio
            15.2.3.3    Demographic Reach and Achievements
            15.2.3.4    Certifications
        15.2.4    Drake Manufacturing Co, Inc.
            15.2.4.1    Company Overview
            15.2.4.2    Product Portfolio
            15.2.4.3    Demographic Reach and Achievements
            15.2.4.4    Certifications
        15.2.5    Werner Co.
            15.2.5.1    Company Overview
            15.2.5.2    Product Portfolio
            15.2.5.3    Demographic Reach and Achievements
            15.2.5.4    Certifications
        15.2.6    Others
16    Key Trends and Developments in the Market

 

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 2023 snd 2028.   

The major drivers of the market include the increasing global demand for crude oil, the rising need to save the situation of reduced reservoir pressure, and the extensive use of pump jacks to extract oil from the oil wells.

The key trend guiding the growth of the market includes the increase in the number of brown or mature oilfields around the world.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The leading well types in the market are vertical well and horizontal well.

The significant weights of pump jacks considered in the market report 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 market 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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