IMARC Group, a leading market research company, has recently releases report titled “Progressing Cavity Pump Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global progressing cavity pump market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Progressing Cavity Pump Market?
|Market Size in 2022||US$ 5.2 Billion|
|Market Forecast in 2028||US$ 6.7 Billion|
|Growth rate (2023 to 2028)||CAGR of 4.14%|
|Base Year of the Analysis||2022|
What are Progressing Cavity Pump?
A progressing cavity pump (PCP) refers to a surface-driven, single-lobe pump that can safely scale and transport shear-sensitive materials and efficiently handle heavy oil, free gas, and sand. It provides low-flow pulsation, accurate metering of viscous liquids, easy installation, versatility, and efficiency. It also offers resistance against wear from abrasive fluids and helps to lower the overall operating costs by reducing energy requirements. As a result, PCP finds extensive applications in the chemical, petrochemical, paper and pulp, marine, food and beverage (F&B), and mining industries.
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What are the growth prospects and trends in the Progressing Cavity Pump industry?
The global progressing cavity pump market is primarily driven by a significant rise in product use for pumping slurries and sludges in sewage treatment plants. Moreover, the increasing applications of PCP for artificial lifting in the oil and gas industry due to its ability to discharge fluids constantly is positively influencing the market growth.
Additionally, there has been widespread product adoption to pump coal water slurry (CWS), a substitute fuel source used in steam turbines to produce electricity. In line with this, the escalating demand for an uninterrupted electricity supply owing to frequent blackouts, load shedding, and power cuts has catalyzed market growth. Besides this, several favorable initiatives have been taken by governments of numerous countries for better wastewater management to control pollutants and emissions.
Along with this, rapid expansion in the number of wastewater treatment plants and rising environmental awareness are other major growth-inducing factors. Other factors, including enhanced oil recovery and upstream processes, recent technological advancements, and product innovations, are also anticipated to drive the market further.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Pumping Capacity:
- Up to 500 GPM
- 501–1,000 GPM
- Above 1,000 GPM
Breakup by Power Rating:
- Up to 50 HP
- 51–150 HP
- Above 1,50 HP
Breakup by End User:
- Water and Wastewater Management
- Oil and Gas
- Food and Beverages
- Chemicals and Petrochemicals
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
ChampionX, Circor International Inc., Continental Pump Company Inc., Erich NETZSCH GmbH & Co. Holding KG, Liberty Process Equipment Inc., Nov Inc., Nova Rotors Srl, PCM Inc. (Insight Enterprises Inc.), Pumpenfabrik Wangen GmbH, Schlumberger Limited, Vogelsang GmbH & Co. KG, Weatherford International LLC and Xylem Inc.
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