The global pump jack market is expected to grow at a CAGR of 4.94% during the forecast period. Based on the application, the global pump jack market has been segmented into onshore and offshore. As per the latest market research report published by Technavio, the global pump jack market size will grow by USD 894.95 million during 2019-2023. Get the free sample report below for the detailed information.
Download the free sample report @ http://bit.ly/32Zsoa9
Onshore oil and gas drilling activities play an important role in E&P operations for the development of the oil and gas upstream sector. In onshore oil and gas E&P operations, the operating cost of drilling activities is significantly lower than that of offshore oil and gas drilling activities as the latter employs comparatively expensive technologies and resources. Therefore, oil and gas E&P companies are investing more in onshore E&P projects to gain profit margins.
Oil and gas E&P activities in shale oil and gas reservoirs have also increased production in the onshore segment. Many oil and gas companies are increasing their E&P activities in countries such as India and China. This will drive the demand for pump jacks owing to the benefits such as easy mobility from one oil well to other and easy to operate for field people. This, in turn, will drive the growth of the global pump jack market in the segment during the forecast period. To know the complete and in-depth analysis and forecast of this market get the complete report by clicking the link below.
Get the Complete Report @ http://bit.ly/34gk07i