USD 3.2 billion
Report ID:
SQMIG20A2276 |
Region:
Global |
Published Date: November, 2024
Pages:
202
|Tables:
66
|Figures:
74
Global Progressive Cavity Pump Market size was valued at USD 3.2 billion in 2022 and is poised to grow from USD 3.39 billion in 2023 to USD 5.32 billion by 2031, growing at a CAGR of 5.8% during the forecast period (2024-2031).
Progressive cavity pumps offer many advantages that make them desirable for companies looking to streamline operations and reduce costs. The efficiency with which a continuous pump in a well converts electricity into flow makes them well known. It is designed to reduce oscillations and changes in complex flows. This feature not only ensures reliable operation of the pump but also reduces energy consumption. Continuous well pumps are more efficient overall than other types of pumps, such as tube pumps, resulting in lower energy costs for end users.
Progressive cavity pumps are incredibly effective when it comes to handling sediments, abrasive materials and viscous fluids. Their unique construction, which incorporates a helical rotor into the stator, allows for the efficient transfer of such dense fluids. Progressive cavity pumps handle these materials efficiently, reducing energy losses during shear and agitation, saving additional energy. The energy efficiency of progressive cavity pumps is useful for areas involving viscous or abrasive materials, such as food and beverage, chemical processing and mining.
Global Market Size
USD 3.2 billion
Largest Segment
Smartphones
Fastest Growth
Tablets
Growth Rate
5.8%CAGR
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Global Progressive Cavity Pump Market is segmented by power rating, pumping capacity, end-use industry and region. Based on power rating, the market is segmented into up to 50 HP, 51 to 150 HP and above 150 HP. Based on pumping capacity, the market is segmented into up to 500 GPM, 501 to 1000 GPM and above 1000 GPM. Based on end-use industry, the market is segmented into oil & gas, water & wastewater management, food & beverage, chemical & petrochemical, pulp & paper and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Analysis by Power Rating
Up to 50 HP segment dominated the market in 2022. Progressive cavity pumps up to 50 HP are versatile as they can handle different materials and fluids. They can handle complex applications, accepting solids and abrasive materials, handling different viscous fluids each handles well viscosity-industries, which contributes to their market dominance. By increasing power to 50 HP, PCPs can provide higher flow rates and improved pressure, enabling them to handle demanding applications Industries such as oil and gas, wastewater treatment, digging, and food processing often require pumps with high power levels. They are removed, allowing you to better handle abrasive particles, or water with corrosive properties, and allowing you to be more reliable and consistent under a variety of conditions even in the most difficult of circumstances.
500 gpm segment is the fastest growing in the market. According to the report, it represented a large segment up to 500 gpm because of its ability to handle flows up to 500 gpm. Suitable for applications requiring large amounts of moisture for proper drainage. It is known for its versatility and ability to handle a wide range of fluids, including viscous, abrasive and shear-sensitive fluids. It can effectively repel water with a variety of viscosities, making it ideal for a variety of industries, such as oil and gas production, food processing and pharmaceutical manufacturing.
Analysis by End-User
The water & wastewater management segment accounted for the largest revenue by 2022. Governments and legislatures across the globe impose strict limits on wastewater discharges to protect the environment and public health. Industries must adopt efficient wastewater treatment methods to meet these requirements and comply with stringent wastewater quality standards.
The chemicals & petrochemicals segment is the fastest growing in the market due to high usage of polyethylene and polypropylene, and other plastics such as polystyrene, and polyvinyl chloride as these plastics have a wide range of applications, including additives ho is for use in buildings, transportation, packaging, power/electronics, healthcare and applications. Increasing demand for chemicals & petrochemicals is driving demand for progressive cavity pumps.
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The Asia-Pacific region is expected to hold the largest market share of the global progressive cavity pump market during the forecast period. The market growth in this sector can be attributed to the rapid growth and economic activities such as industrialization, modern agriculture and subsequent urbanization which has increased the demand for clean reusable water has been increased. It is expected to increase by 6.3% in the coming years. Asia-Pacific growth cavity pump market dominated this market by 2022 (45.80%). Despite the boom in economic activities such as industrialization, modern agriculture and urbanization as the economy grew rapidly and needed access to clean, reusable water, China held the largest market share within the progressive cavity pump market, the Indian progressive cavity pump market is the fastest growing market in Asia- Pacific.
North America is expected to grow significantly during the forecast period. Industries such as water & wastewater are expected to drive continuous growth in demand for pumps. For reference, about 86% of the population in Canada is served by municipal sewer systems. North America has the second largest market share in the growing global progressive cavity pump market. The manufacturing sector in North America is well established and encompasses industries such as mining, pharmaceuticals, food and beverage manufacturing, wastewater treatment, oil and gas processing, and wastewater treatment. North America’s market share comes from demand from these regions. Moreover, the U.S. progressive cavity pumps market holds the largest market share, and Canada progressive cavity pumps market is the fastest growing market in North America region.
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Drivers
Increasing Demand for Various Services
Reducing Energy and Maintenance Costs to Stimulate Growth
Increasing Demand for Progressive Cavity Pumps to Enhance the Business Process
Restraints
High Cost of Pumps
High Cost of Deployment & Maintenance
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The competitive landscape of the industry has also been examined along with the profiles 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.
Top Player’s Company Profiles
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The global progressive cavity pump market is characterized by steady growth and innovation driven by various technological applications. Advanced cavity pumps, capable of handling viscous fluids, solids and shears, find increasing applications in oil and gas, food and beverage, wastewater treatment and pharmaceuticals. Technological advances play a major role in shaping market dynamics, where manufacturers incorporate more efficient pumps, investment in R&D to increase reliability and sustainability. Key trends and the development of advanced materials and coatings to improve pump performance in harsh environments, and the integration of smart technologies for real-time analysis and predictive maintenance. As industries prioritize operational efficiencies and cost-effectiveness, the cavity pump market is poised for steady growth in the coming years.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 3.2 billion |
Market size value in 2031 | USD 5.32 billion |
Growth Rate | 5.8% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Progressive Cavity Pump Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Progressive Cavity Pump Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Progressive Cavity Pump Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Progressive Cavity Pump Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG20A2276
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