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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.

Pump jack comprises a long, heavy beam that is moved by prime mover. The prime mover runs the set of pullies, which then drive a pair of crank shaft. This causes the up and down movement of the pump head. This pump head is connected to a sucker rod pump, which is installed at the bottom of the well. The reciprocating motion creates artificial lift, which increases the pressure within an oil well. This causes the oil to reach the surface. Pump jacks are used in vertical and horizontal oil wells.

Pump jack are low-cost, low-maintenance pumps vis-à-vis ESP and PCP systems. They are used more in low oil producing field, as they ensure that running cost does not outweigh the oil production cost. The output capacity of a pump jack varies due to various factors; however, the typical range is between 5 liters of liquid per stroke to 40 liters of liquid per stroke. The capacity of a pump jack is also dependent upon the well depth and reservoir fluid characteristics.  

Increase in global demand for crude oil is the major factor driving the pump jack market. Renewable energy sources are used in a wide range of applications; however, conventional fossil fuels are still preferred over renewable energy sources. Rise in number of brown or mature oilfields around the world is another factor driving the pump jack market. Most of the existing oilfields are in the mature stage of oil production. It is difficult for primary and secondary oil recovery techniques to extract oil from such mature fields. Pump jack is an easy and low-cost option for such fields. Currently, around two-third of the oil wells in the world employ pump jack systems. However, the pump jack market has certain limitations. Pump jacks are not applicable for deep to ultra-deep wells. Furthermore, they are not generally considered applicable for offshore applications. These limitations are expected to hamper the pump jack market.

The global pump jack market is anticipated to expand during the forecast period. Low oil prices in the recent past have adversely affected the revenue of operator companies, thus compelling them to withdraw every barrel of oil through the mature oil fields. North America and Middle East & Africa are likely to dominate the pump jack market in the near future. Middle East & Africa has many mature oilfields. Economies in the region are dependent on oil production. North America region is rising as key exporter of crude oil due to the recent developments of shale oil in the region.

Key players operating in the pump jack market are General Electric Oil and Gas, Tenaris, Dover Corporation, Weatherford International, Schlumberger Limited, LS Petrochem, Drake Manufacturing Co, Inc., Allspeeds Ltd. KBA Engineering, LLC., and Cook Pump Company. 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Pump Jack Market

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