Global $3.8 Billion Pump Jack Market Analysis 2013-2016 and Forecasts 2017-2023 – Research and Markets

DUBLIN–(BUSINESS WIRE)–The "Global
Pump Jack Market Analysis and Forecast to 2023" report has been
added to Research and Markets' offering.

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.

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.

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.

Key Topics Covered:

1. Research Background

2. Research Methodology

3. Executive Summary

4. Introduction

5. Global Market Size and Forecast

6. North America Market Size and Forecast

7. Europe Market Size and Forecast

8. Asia-Pacific Market Size and Forecast

9. Latin America Market Size and Forecast

10. Middle East and Africa Market Size and Forecast

11. Company Profiles

• 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

For more information about this report visit https://www.researchandmarkets.com/research/q9s9k7/global_3_8?w=4

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Related
Topics: Oilfield
Equipment and Services, Pumps