With the surge in the number of mature oilfields around the world, the demand for pump jacks is growing rapidly, especially in the petroleum industry. A majority of these oilfields have already reached their saturation points and therefore, produce very less oil. As these wells cannot be restarted economically once they are closed down, they are kept alive with the help of pump jacks. These devices enable the extraction of even the last few barrels of oil from these fields. 

Moreover, the usage of pump jacks considerably extends the lifespan of these wells by enhancing the pumping efficiency, without augmenting the operational cost. Computer-based technologies are being adopted for monitoring and analyzing the pump systems in real-time rapidly with minimum human involvement. The adoption of these automated technologies for ensuring efficient and smooth oil extraction from mature oilfields is emerging as a major trend. The growing popularity of onshore oil drilling is also propelling the demand for pump jacks.

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 This is ascribed to the existence of several leading pump jack-producing companies, the surging number of mature oilfields, and the presence of several aging oilfields in this region. The demand for pump jacks is also predicted to boom in various European countries such as Russia in the coming years.

Hence, it can be safely said that the demand for pump jacks will skyrocket all over the world in the future years, mainly because of the increasing number of aging and mature oilfields.