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.
Some of the key questions
answered in this exclusive report are:
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?
Market Segmentation:
In this market, vertical
well and horizontal well are the major segments of pump jack market by well
type. 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.
Tenaris, Halliburton
Company, Schlumberger Limited, Borets International, General Electric Oil &
Gas, Hess Corporation, Weatherford International, Rimera Group, Dansco
Manufacturing, and Dover Corporation are the major suppliers in the pump jack
market.
About
Lucintel
Lucintel, the premier global
management consulting and market research firm, creates winning strategies for
growth. It offers market assessments, competitive analysis, opportunity
analysis, growth
consulting, M&A, and due diligence services to executives and
key decision-makers in a variety of industries.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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