Global Progressive Cavity Pump Market Analysis:
The Global Market for Progressive Cavity Pump is projected to be valued at USD 4.29 Billion by 2025, with 6.84% CAGR during the forecast period, 2019–2025. Progressive cavity pumps are used in fluid metering and pumping of viscous fluids. These pumps are used in applications wherein high discharge pressure with a smooth flow is required. This pump is a type of positive displacement pump that transfers fluid through the pump, with high operational efficiency in the range of 55% to 77%.
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Leading Players analyzed in the Progressive Cavity Pump Market are:
- Schlumberger (US),
- Halliburton (US),
- Circor International, Inc. (US),
- National Oilwell Varco (US),
- PCM (US),
- Dover (US),
- Weatherford (US),
- Xylem (US),
- Seepex (US),
- Synopumps (India),
- Moyno (US),
- Sydex (Italy),
- Netzsch (Germany), and
- ITT (US).
Global Progressive Cavity Pump Market Segmentation:
The global progressive cavity pump market is segmented based on power rating, end-user, and region.
Based on power rating, the global market is segmented into up to 50 HP, 51 HP – 150 HP, and above 150 HP. The up to 50 HP segment is projected to be the largest market share in the global progressive cavity pump market owing to its wide application in industries to transfer slurries and fluids.
By end-user, the market is segmented into oil & gas, water & wastewater, food & beverage, chemical & petrochemical, and others. The water & wastewater segment is projected to be the largest and fastest-growing segment, owing to its wide application for the treatment of water due to its benefits in water treatment plants such as easy to regulate the feed of sodium hypochlorite (NaOCI) over the entire dosing range, and operates without pulse.
The global progressive cavity pump market is segmented into five regions, namely Asia-Pacific, Europe, North America, the Middle East & Africa, and South America.
The market in North America holds the largest market share; it is expected to be the fastest growing region in the progressive cavity pump owing to an increase in investments in water and wastewater infrastructure and growth in oil & gas industry. The US is the largest and fastest-growing market owing to increase its shale gas production.
In Europe, Germany is expected to be the largest and the fastest-growing country in the progressive cavity pump market owing to an increase in the number of progressive cavity pump manufacturers and the rising demand for energy-efficient pumps. For instance, in December 2017, Netzsch (Germany) added a new line of progressive cavity pump ideal for wear-intensive applications.
In the Middle East & Africa, Saudi Arabia, is projected to be the largest and the fastest-growing country in the progressive cavity pump market due to the increased crude production from oilfields and a surge in offshore exploration during the forecast period. According to BP Energy Outlook 2019, crude oil and condensate production for the year 2017 was accounted for 10,175 barrels per day which increased to 10,534 barrels per day in 2018. Hence, a significant increase in oil production drives the demand for progressive cavity pump in Saudi Arabia during the forecast period.
In South America, Brazil is expected to be the largest and the fastest-growing country in the progressive cavity pump market on account of the increasing investments in oil production and exploration projects in the country during the forecast period.
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