Progressive Cavity Pump Industry Insight
The Global Progressive
Cavity Pump Market size 2020 is expanding ahead with a massive USD 4.29 Billion
projects to score between 2019 and 2025. The net worth of the market is
supposed to rise by 6.84% CAGR, claims Market Research Future, in its latest study.
Top Impacting Factors
The global progressive
cavity pumps market has been witnessing an ascending graph of demand owing to
the soaring need for pumping shear-sensitive or viscous elements. The mechanism
of a progressive cavity pump is enormously complex, but the utility served by
these pumps is unparalleled. Uniqueness in operation of these pumps is expected
to be the prime reason following trust of the consumers in the market. It is
anticipated that multiple industries involve the pumping of viscous fluids in
some capacity would contribute to the growth of the global market for
progressing cavity pumps. These factors have been considered as prime ones to
influence the market to expand in the future.
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The demand within the
market of progressing cavity pumps has taken a greater leap in recent times, as
per the study. Such a progress is mainly due to the utility served by these
pumps towards handling fluid with high viscosity. Also, several industries are actively making
huge-scale investments to improve infrastructural setup, which has also been a
plus point for the global market and its growth course.
With this, due to the
scantiness of fresh water sources, wastewater treatment plants have been
installed across various regions. Since progressing cavity pumps are an
intrinsic part of these wastewater treatment units, the demand within the
market has witnessed an upsurge in recent times. Oil pumping has been an
enormously vital area of operation, and the deployment of progressing cavity
pumps for oil pumping has also generated demand within the global market.
Furthermore, other areas of fluid pumping span across sewages and sludge,
chemicals, coal slurry, and down-hole mud.
Some more factors such as
excellent abrasion resistance, low surface noise levels and low profile surface
equipment, as well as low maintenance are also estimated to expand the growth
of the progressing cavity pumps market.
Segmentation of Market:
Progressing Cavity Pumps
The global progressive
cavity pump market is further segmented among power ratings and end-user.
Depending on the power
rating segment, the global market has included up to 50 hp, 51-150 hp, and
above 150 hp. Where up to 50 HP segment might hold the largest share owing to a
surge in infrastructure development.
Depending on the end-user
segment, the global market has included water & wastewater, oil & gas,
food & beverage, chemical & petrochemical, and more. Out of which, the
water & wastewater segment is estimated to expand at the highest CAGR during
the forecast period as increasing demand for freshwater, rise in the use of
progressive cavity pumps in water treatment plants for polymers, sludge, and
waste is doubled.
Region-Wise Outlook
Regionally, the Global
Progressive Cavity Pump Market is studied for the regions of Asia-Pacific,
North America, Europe, the Middle East & Africa, and South America.
Among these, the market
in North America leads in terms of market share due to a surge in the funds for
water & wastewater and oil & gas industry in the US & Canada. In
the case of point, in July 2019, Canada Infrastructure Bank (CIB) published an
expenditure of USD 20 million in the Mapleton’s water and wastewater project.
Also, in September 2019, the US Department of Agriculture (USDA) announced
investing USD 144 million to improve rural water infrastructure in 25 states of
the US. Such investments raised the demand for progressive cavity pump market
in North America.
Asia-Pacific region also
leads the market growth across the globe in the year 2018, with most of the
demand from China and India. This was owing to rising economies and a growing
population. The Asia Pacific is at present the fastest-growing region, and this
trend would be the same in the forecast period.
Top Market Players
The global progressive
cavity pump manufacturers include National Oilwell Varco (US), Halliburton
(US), Dover (US), Schlumberger (US), Xylem (US), Weatherford (US), Netzsch
(Germany), Circor International, Inc. (US), Seepex (US), PCM (US), Moyno (US),
Synopumps (India), ITT (US) and Sydex (Italy).
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