Pump Jack Market Report: Trends, Forecast and Competitive Analysis to 2030

Pump Jack Trends and Forecast

The future of the global pump jack market looks promising with opportunities in the onshore and offshore markets. The global pump jack market is expected to reach an estimated $6.6 billion by 2030 with a CAGR of 5.1% from 2024 to 2030. The major drivers for this market are exploration and utilization of non-conventional oil and gas reserves, such as shale gas and tight oil, increasing prevalence of mature or aging oilfields globally, and surging global population and rapid industrialization.

A more than 150-page report is developed to help in your business decisions.

Pump Jack by Segment

The study includes a forecast for the global pump jack by well type, weight, application, and region.

Pump Jack Market by Well Type [Shipment Analysis by Value from 2018 to 2030]:

• Vertical Well
• Horizontal Well

Pump Jack Market by Weight [Shipment Analysis by Value from 2018 to 2030]:

• Less than 100,000 Lbs
• 100,000 Lbs To 300,000 Lbs
• More than 300,000 Lbs

Pump Jack Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Onshore
• Offshore

Pump Jack Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Pump Jack Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies pump jack companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the pump jack companies profiled in this report include-

• Tenaris
• Halliburton Company
• Schlumberger Limited
• Borets International
• General Electric Oil & Gas
• Hess Corporation
• Weatherford International
• Rimera Group
• Dansco Manufacturing
• Dover Corporation

Pump Jack Market Insights

Lucintel forecasts that vertical well will remain the larger segment over the forecast period because of the low-cost installation, along with growing awareness towards careful planning and management of operations in vertical wells.

Within this market, onshore will remain the larger segment over the forecast period because these fields offer ample surface area and well spacing making them suitable for pump jack installations.

North America will remain the highest growing region over the forecast period due to existence in the oil and gas industry particularly in onshore drilling operations, extensive shale oil and gas production in the United States, as well as growing investment for exploration and production activities in this region.

Features of the Global Pump Jack Market

Market Size Estimates: Pump jack market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Pump jack market size by well type, weight, application, and region in terms of value ($B).

Regional Analysis: Pump jack market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different well types, weight, applications, and regions for the pump jack market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the pump jack market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q.1 What is the pump jack market size?

Answer: The global pump jack market is expected to reach an estimated $6.6 billion by 2030.

Q.2 What is the growth forecast for pump jack market?

Answer: The global pump jack market is expected to grow with a CAGR of 5.1% from 2024 to 2030.

Q.3 What are the major drivers influencing the growth of the pump jack market?

Answer: The major drivers for this market are exploration and utilization of non-conventional oil and gas reserves, such as shale gas and tight oil, increasing prevalence of mature or aging oilfields globally, and surging global population and rapid industrialization.

Q4. What are the major segments for pump jack market?

Answer: The future of the pump jack market looks promising with opportunities in the onshore and offshore markets.

Q5. Who are the key pump jack market companies?

Answer: Some of the key pump jack companies are as follows:

• Tenaris
• Halliburton Company
• Schlumberger Limited
• Borets International
• General Electric Oil & Gas
• Hess Corporation
• Weatherford International
• Rimera Group
• Dansco Manufacturing
• Dover Corporation

Q6. Which pump jack market segment will be the largest in future?

Answer: Lucintel forecasts that vertical well will remain the larger segment over the forecast period because of the low-cost installation, along with growing awareness towards careful planning and management of operations in vertical wells.

Q7. In pump jack market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the highest growing region over the forecast perioddue to existence in the oil and gas industry particularly in onshore drilling operations, extensive shale oil and gas production in the United States, as well as growing investment for exploration and production activities in this region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the pump jack market by well type (vertical well and horizontal well), weight (less than 100,000 lbs, 100,000 lbs to 300,000 lbs, and more than 300,000 lbs), application (onshore and offshore), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?