Press release
Pump Jack Market Analysis, Growth Opportunities and Recent Trends by Leading Manufacturers & Regions
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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.
Pump jack’s performance can be remotely monitored and does not require manual monitoring. It makes operations more efficient and cost effective by monitoring on/off events, following trends, and sending alarms. Jack pump monitoring also ensures quick resolution of asset repair and keeps the downtime to minimum.
Globally, North America represents a major share in the pump jack market and is expected to remain the largest market in future. In North America, increasing concern towards the utilization of unconventional energy resources; whereas, the redevelopment of mature oil and gas fields are continuously overlooked. Numerous mature oil and gas fields have been exhausted while producing at commercial rates.
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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.
GLOBAL PUMP JACK MARKET SEGMENTATION
By Application
Onshore
Offshore
By Well Type
Vertical
Horizontal
By Weight
Less than 100,000 lbs
100,000 lbs to 300,000 lbs
More than 300,000 lbs
By Region
North America
U.S.
Canada
Europe
Russia
Kazakhstan
Rest of Europe
Asia-Pacific
China
Indonesia
Australia
India
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Venezuela
Columbia
Ecuador
Rest of Latin America
Middle-East and Africa
Oman
Kuwait
Saudi Arabia
Angola
U.A.E.
Nigeria
Rest of Middle East and Africa
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