The latest report by IMARC Group, titled “Progressing Cavity Pump Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” finds that the global progressing cavity pump market size reached US$ 5.2 Billion in 2022. A progressing cavity pump (PCP) is a self-driven, single-lobe, positive displacement pump. It displaces fluid through a sequence of small, discrete cavities formed by turning a helical rotor within a stator. It can handle gas, sand, water, and oil, transfer shear-sensitive materials without damage, and can be customized to produce liquids of varying temperatures and pressures. In addition, it is efficient, versatile, easy to install, reduces cost, minimizes energy consumption, offers accurate metering of viscous liquids and resistance against wear caused by abrasive fluids, and provides flow pulsation. As a result, PCP is widely adopted in paper and pulp, petrochemical, mining, water and wastewater management, oil and gas, food and beverage (F&B), and chemicals industries.
Global Progressing Cavity Pump Market Trends:
The market is primarily driven by the rising demand for PCPs in various industrial verticals such as mining, water and wastewater management, and oil and gas. In addition, the increasing use of PCPs for transferring raw materials with varying viscosity, abrasiveness, and materials with high solid content is contributing to the market growth. Moreover, the increasing investments in water and wastewater treatment infrastructure to install wastewater treatment plants, meet the escalating demand for freshwater resources, minimize life cycle costs, and enhance operating margins represent major growth-inducing factors. Besides this, various technological advancements and the integration of the internet of things (IoT) and cutting-edge and three-dimensional (3D) printing in pump design, replacement, and repair are providing a positive thrust to the market growth. Along with this, the growing environmental awareness and implementation of government policies to curb pollution are creating a favorable market outlook across the globe. Looking forward, IMARC Group expects the market value to reach US$ 6.7 Billion by 2028, exhibiting a CAGR of 4.14% during the forecast period (2023-2028).
- Based on the pumping capacity, the market has been categorized into up to 500 GPM, 501-1000 GPM, and 1000 GPM.
- On the basis of the power rating, the market has been segmented into up to 50 HP, 51-150 HP, and above 1,50 HP.
- Based on the end user, the market has been classified into water and wastewater management, oil and gas, food and beverages (F&B), chemicals and petrochemicals, and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined in the report, with some of the key players being 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.
|Base Year of the Analysis
||Pumping Capacity, Power Rating, End User, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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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