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Pumpjacks Market Trends

  • Report ID: GMI9232
  • Published Date: Apr 2024
  • Report Format: PDF

Pumpjacks Market Trends

There is an increasing focus on developing power-green gadget to lower the energy consumption and operational expenses. Innovations such as variable frequency drives (VFDs), strength-green cars, and optimized pumpjack designs are surprisingly contributing to lower power utilization and decreased environmental effect. The adoption of automation technologies and digital answers is likewise growing in pumpjack operations. Remote monitoring structures, sensors, and records analytics allow real-time monitoring of pumpjack overall performance, predictive protection, and optimization of production procedures, enhancing operational performance and decreasing downtime. Integrated Pumping Units, which integrate the pumpjack, motor, gearbox, and controls right into a unmarried included system, are gaining reputation within the marketplace.
 

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of pumpjacks was crossed USD 3.4 billion in 2023 and is expected to register 5.7% CAGR from 2024 to 2032, owing to the usage and incorporation of hydraulic fracturing (fracking) and horizontal drilling techniques worldwide.

Pumpjacks industry from the conventional pumps segment recorded USD 1.3 billion in 2023 and is expected to register an appreciable CAGR from 2024 to 2032, due to requirement to operate successfully and economically, particularly in mature oil fields.

North America pumpjacks industry reached USD 700 million in 2023 and is expected to register a commendable CAGR from 2024-2032 due to possessing significant reserves of crude oil, particularly in regions such as Texas, North Dakota, and Alberta.

Gardner Denver Holdings Inc., General Electric Company, Halliburton Company, Lufkin Industries LLC, National Oilwell Varco, Inc., Occidental Petroleum Corporation, Schlumberger Limited, Tenaris S.A., and Weatherford International, are some of the major pumpjacks companies worldwide.

Pumpjacks Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 428
  • Countries covered: 22
  • Pages: 487
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