Home > Marketing > Pump Jack Market, Global Analysis,Report (2017 – 2022)

Pump Jack Market, Global Analysis,Report (2017 – 2022)

Added: (Thu Jan 03 2019)

Pressbox (Press Release) - According to new market research report "Pump Jack Market by Well Type (Vertical and Horizontal), Application (Onshore and Offshore), Weight (Less Than 100,000 Lbs, 100,000 Lbs to 300,000 Lbs, and More Than 300,000 Lbs), and by Region - Global Trends and Forecast to 2022", The pump jack market is expected to grow from an estimated USD 2.86 Billion in 2017 to USD 3.63 Billion by 2022, at a CAGR of 4.88%. Increasing onshore maturing oil fields are driving the pump jack market. Low oil prices in the past couple of years has made it even more difficult to maintain low production mature reserves, driving companies to accelerate pump jack plans for such oil fields.
Don’t miss out on business opportunities in Pump Jack Market. Speak to our analyst and gain crucial industry insights that will help your business grow:
https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=150633943
Vertical well: The largest segment of the pump jack market, by well type
The pump jack market has been segmented by well type, weight, application, and region. The market has been further segmented, by well type, into vertical well and horizontal well. The vertical well segment accounted for the largest share of the market in 2016, and is also projected to grow at the fastest pace during the forecast period. Vertical well involves the safe production or exploration wells and is one of the biggest and most critical activities in any drilling project. Pump jacks are highly suitable for vertical wells as they include a sucker rod assembly that functions efficiently in a vertical trajectory. The market for vertical well is estimated to grow at the fastest pace among both the well types.
Browse and in-depth TOC on "Offshore Wind Market"
78 - Tables
37 - Figures
151 - Pages
View more detailed TOC @
https://www.marketsandmarkets.com/Market-Reports/pump-jack-market-150633943.html
The onshore sub-segment is estimated to have the highest growth rate in the pump jack market, by application.
Based on application, the market has been segmented into onshore and offshore segments. The application of pump jack in onshore is estimated to lead the market, both in terms of market value and growth. The onshore basins in North America Eagleville (Texas), Spraberry (Texas), and Prudhoe Bay (Alaska) plays a major role in driving the pump jack market. Onshore oil drilling is typically less expensive compared to offshore and a majority of the old and ageing mature wells are in onshore oil fields. Thus, the market for pump jack will be the largest in onshore.
North America: The largest market for pump jack
The market in North America was the largest market, by value, for pump jack in 2016, driven largely by activities in the offshore industries of the U.S. and Canada. The offshore industries in these two regions, leads other regions in terms of well-development. Companies in the region are taking active steps in drilling, in onshore mature oil fields by low cost installation and ease of operation. The market in the U.S. Gulf of Mexico is the second largest market, closely behind Europe, with a large number of mature wells drilled by pump jack, each year.
Get Free 10% Customization on this Report @ https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=150633943
To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top service providers in the pump jack market. These players includes Schlumberger Limited (U.S.), Tenaris S.A. (Luxembourg), Borets International (U.A.E.), General Electric Oil & Gas (U.K.), Weatherford International, PLC (Switzerland), and Dover Corporation (U.S.), among others.
Browse Adjacent Markets @ Energy and Power Market Research Reports & Consulting.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Email: sales@marketsandmarkets.com

Submitted by:
Disclaimer: Pressbox disclaims any inaccuracies in the content contained in these releases. If you would like a release removed please send an email to remove@pressbox.com together with the url of the release.