Press release
Pump Jack Market 2021 Status Precise Outlook- Dover Corp, Weil-McLain (Shandong) Cast-Iron-Boiler.Co., Ltd, Baker Hughes Company, Alkhorayef Commercial Co
Global Pump Jack Market 2021-2025 is a comprehensive report which provides a detailed overview of the major driver, opportunities, challenges, current market trends and strategies impacting the Global Pump Jack market in conjunction with calculation and forecast of size, share, and growth rate analysis. Combining the analysis capabilities and knowledge integration with the relevant findings, the report has foretold the robust future growth of the Pump Jack market all told its geographical and merchandise segments.The pump jack market is expected to grow at a CAGR of more than 3% over the forecast period of 2020 - 2025.
The Global Pump Jack market is highly competitive and consists of a number of major players. Companies like Schlumberger Limited, Halliburton Company, Weatherford International Ltd, National-Oilwell Varco, Inc, Dover Corp, Weil-McLain (Shandong) Cast-Iron-Boiler.Co., Ltd, Baker Hughes Company, Alkhorayef Commercial Co, Flotek Industries Inc, Borets International Ltd among others.
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Market Overview:
Pump jack is a reciprocating piston pump in an oil well. It is known by various names such as nodding donkey, horsehead pump, rocking horse, beam pump, and oil jack in the oil industry. Subsurface fluids (i.e. oil and water) cannot reach to the surface if there is insufficient bottom-hole pressure in an oil well. Pump jack is used for mechanically lifting the oil from an oil well in such a scenario. Pump jack converts the rotary motion of the motor into the vertical reciprocating motion, which drives the pump shaft. Modern day pump jacks are powered by an IC engine known as prime mover. Some pump jacks are powered by electric motors. Pump jacks installed at remote location are also powered by natural gas.
Key Market Trends:
Onshore Application to Dominate the Market
- The onshore segment has the largest revenue share due to the presence of many mature wells which are more on the land compared to the sea and because of this, the usage of pump jacks is higher in onshore oil drilling.
- The pump jacks are more efficient and cost-effective in their operation, as they are monitored remotely and the regular monitoring of events, sending quick alarms and giving immediate notification through text, phone calls, or an email, in the case of shut down, to resolve the problems quickly by reducing the requirement for humans.
- Onshore fields offer the requisite surface area and well spacing for the installation of pump jacks. Moreover, onshore fields allow for easy maintenance and repair, as they are easily accessible or well connected to monitoring facilities.
- The North American region has a large number of mature onshore wells, where pump jacks can be used to achieve operational efficiency and tap the remaining oil in the wells.
- Therefore, based on the above-mentioned_factors, onshore application is expected to dominate in pump jack market over the forecast period.
Browse the Full report description and TOC at:
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The key insights of the Pump Jack Market report:
The report provides key statistics on the market status of the Pump Jack market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
The report provides a basic overview of the industry including its definition, applications and manufacturing technology.
The Pump Jack market report presents the company profile, product specifications, capacity, production value, and 2015-2021 market shares for key vendors.
The total market is further divided by company, by country, and by application/type for the competitive landscape analysis.
The report estimates 2021-2025 market development trends of Pump Jack
Analysis of upstream raw materials, downstream demand and current market dynamics is also carried out
The report makes some important proposals for a new project of Pump Jack Industry before evaluating its feasibility.
Finally, Pump Jack Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request and market development rate and figure and so on. Automotive Actuators industry report additionally Present new task SWOT examination, speculation attainability investigation, and venture return investigation.
Key points in this report:
– The market estimate (ME) sheet in Excel format
– Report customization as per the client’s requirements
– 3 months of analyst support
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Irfan Tamboli (Head of Sales) – Market Insights Reports
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sales@marketinsightsreports.com | irfan@marketinsightsreports.com
About Us:
MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides Global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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