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.
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.
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Scope of the Report:
By Well Type
·
Vertical Well
·
Horizontal Well
By Application
·
Onshore
·
Offshore
By Weight
·
Less than 100,000 lbs
·
100,000 lbs–300,000 lbs
·
More than 300,000 lbs
By Region
·
North America
·
Asia-Pacific
·
Middle East & Africa
·
Europe
·
Central & South America
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Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=150633943 Objectives of the Study
·
To define, describe, and forecast the global
pump jack market by well type, application, weight, and region, in terms of
value
·
To provide detailed information regarding the
major factors, such as drivers, restraints, opportunities, and
industry-specific challenges, influencing the growth of pump jack market
·
To strategically analyse the market with
respect to individual growth trends, future prospects, and the contribution of
each segment to the pump jack market
·
To strategically profile key players and
comprehensively analyse their market shares and core competencies
·
To track and analyse competitive
developments, such as contracts & agreements, expansions and investments,
new product launches, and mergers & acquisitions of this market
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to AnalystNorth 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.
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