The Business Research Company’s report on the Jacking Oil Pump Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the primary drivers fueling the growth of the jacking oil pump market in recent years?
The rising global energy demand is expected to drive the growth of the jacking oil pump market going forward. Energy refers to the capacity to perform work or produce heat, motion, or light, existing in various forms such as kinetic, potential, thermal, and electrical energy. It is essential for powering natural and human-made processes. The rising energy demand is due to urbanization and industrialization, leading to higher consumption as cities expand and industries require more power. A jacking oil pump is used in energy production to lift turbine shafts with high-pressure oil during startup and shutdown, reducing friction and wear. It ensures smooth operation, enhances efficiency and extends equipment lifespan. For instance, in July 2024, according to the International Energy Agency, a France-based intergovernmental organization, the global electricity demand grew by around 4% in 2024, up from 2.5% in 2023. Therefore, rising global energy demand is driving the growth of the jacking oil pump market.
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What is the projected market size of the jacking oil pump industry, and how is it expected to grow?
The jacking oil pump market size has grown strongly in recent years. It will grow from $1.21 billion in 2024 to $1.29 billion in 2025 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed torise in oil exploration, increase in drilling activities, growth in offshore projects, surge in deepwater drilling, and growth in petrochemical demand.
The jacking oil pump market size is expected to see strong growth in the next few years. It will grow to $1.66 billion in 2029 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to expansion of shale production, rising offshore exploration, increasing energy demand, growing infrastructure development, and increasing oil extraction processes. Major trends in the forecast period include technological advancements, ai-driven pump monitoring, automation in drilling, blockchain in oil transactions, and iot integration.
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Who are the key players driving competition in the jacking oil pump market?
Major companies operating in the jacking oil pump market are Parker Hannifin Corporation, SPX FLOW Inc., Enerpac Tool Group, Kirloskar Brothers Limited, Duplomatic Motion Solutions S.p.A., Settima Meccanica S.r.l., Atlantic Hydraulic Systems Inc., Powertherm Engineering Pvt. Ltd., Shandong Rongli Petroleum Machinery Co. Ltd., Dongfang Yoyik (Deyang) Engineering Co. Ltd., Deyang YOYIK Environmental Protection Technology Co. Ltd., Kaifeng Dafang Prestressed Co. Ltd., Hydratight Limited, Haskel International Inc., Hi-Force Hydraulic Tools (UK) Ltd., Hydrosila Group, Bosch Rexroth AG, Poclain Hydraulics SAS, Rotary Power Hydraulics Ltd., Hydac International GmbH
What key trends are expected to drive the itc instrumentation cable market during the forecast period?
Major companies operating in the jacking oil pump market are focusing on strategic alliances to strengthen their market position, enhance product innovation, expand their global reach, and improve operational efficiency. A strategic partnership combines two or more companies into one entity to strengthen competitive advantage, expand market reach, or improve operational efficiency. For instance, in December 2022, Motive Technologies Inc., a US-based technology company, partnered with Settima Meccanica S.R.L, an Italy-based company specializing in the design and manufacturing of low-noise, low-vibration pumps, to integrate advanced low-noise pump technology, enhance product innovation, and expand market opportunities. This partnership aims to leverage Settima Meccanica’s expertise in advanced pump technology to improve the efficiency and performance of jacking oil pumps, meeting the growing demand for quieter and more reliable systems in energy production. Similarly, major players in the industry are investing in research and development (R&D) to introduce innovative solutions that enhance equipment durability, reduce maintenance costs, and optimize energy consumption.
Which key geographies are driving the growth of the jacking oil pump market?
North America was the largest region in the jacking oil pump market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the jacking oil pump market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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What are the key segments driving growth in the jacking oil pump market?
The jacking oil pump market covered in this report is segmented –
1) By Type: Low Pressure, High Pressure
2) By Product Type: Electric Jacking Oil Pumps, Pneumatic Jacking Oil Pumps, Hydraulic Jacking Oil Pumps, Manual Jacking Oil Pumps
3) By Distribution Channel: Online Sales, Direct Sales, Distributors And Resellers, Retail Sales
4) By Application: Automobile Engines, Marine Engines, Generator Sets, Industrial Machinery, Aircraft Engines
5) By End User: Oil And Gas Industry, Manufacturing Sector, Construction Industry, Vehicle Maintenance Services, Agricultural Sector
Subsegments:
1) By Low Pressure: Gear Pumps, Piston Pumps, Diaphragm Pumps
2) By High Pressure: Radial Piston Pumps, Axial Piston Pumps, Screw Pumps
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How is the jacking oil pump market defined, and what are its core characteristics?
A jacking oil pump is a small, high-pressure pump that is used to supply lubricating oil at high pressure to the bearings of heavy rotating machinery, such as turbines and large motors, during startup and shutdown. It helps lift the shaft slightly, reducing friction and wear until the central lubrication system takes over. A jacking oil pump is essential for equipment with hydrodynamic bearings, where a thin oil film is needed to support the shaft.
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