Pump Jack Market Projected to Reach $3.8 Billion by 2023, P&S Intelligence. According to the study, the global pump jack market size is likely to grow from $2.7 billion in 2016 to $3.8 billion by 2023. The growth of the pump jack market is mainly driven by increasing number of mature oilfields in North America. North America stands as the largest pump jack marketGlobally, North America represents a major share in the pump jack market and is expected to remain the largest market in future. The same year, the U.S. and Canada together accounted for 14% of the global oil production, as compared to Saudi Arabia which accounted for 13% of the global oil production.

Source: The North Africa Journal August 25, 2020 10:52 UTC