Progressing Cavity Pump Market to Grow with a CAGR of 5.19% through 2028
Increasing
demand in the water & wastewater treatment industry and growing investments
in the oil and gas industry are likely to drive the market in
the forecast period.
According to
TechSci Research report, “Progressing Cavity Pump Market – Global Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2028”,
the Global Progressing Cavity Pump Market stood at USD 3.08 billion in 2022 and
is anticipated to grow with a CAGR of 5.19% in the forecast period.
One
of the primary drivers propelling the global Progressing Cavity Pump (PCP)
market is the continuous expansion of the oil and gas industry. PCPs have
established themselves as vital equipment in the extraction, production, and
transportation of crude oil and natural gas. Their remarkable ability to handle
high-viscosity fluids, abrasive substances, and even solids makes them
indispensable in these demanding operations. As global energy demand continues
to rise, particularly in emerging economies, the oil and gas sector faces the
challenge of extracting hydrocarbons from increasingly challenging
environments, such as deep-sea drilling and unconventional reservoirs like
shale. PCPs offer an efficient and reliable solution to overcome these
challenges, ensuring a steady flow of resources. This has led to a sustained
demand for PCPs, particularly in both onshore and offshore applications. Moreover,
PCPs contribute to cost reduction and minimize downtime in oil and gas
operations, making them a preferred choice for many companies striving to
enhance productivity and profitability. As the world's energy needs continue to
grow, the PCP market is expected to thrive as it remains intricately connected
to the vital oil and gas sector.
The global Progressing Cavity Pump (PCP)
market benefits significantly from the increasing demand for water and
wastewater treatment solutions. PCPs have emerged as essential equipment in the
water treatment sector due to their ability to efficiently handle challenging
fluids encountered in this industry. In wastewater treatment facilities, PCPs
are deployed for tasks such as sludge transfer, dewatering, and handling
viscous or abrasive slurries. Their robust design and adaptability make them
suitable for effectively managing complex wastewater treatment processes. PCPs
also excel in applications like sewage treatment, contributing to the removal
of pollutants and the purification of water. Furthermore, as population growth
and urbanization continue unabated, the demand for clean water and efficient
wastewater treatment technologies escalates. Stringent environmental
regulations emphasize the need for eco-friendly solutions in water treatment,
and PCPs align with these requirements by offering energy-efficient, reliable,
and low-maintenance pumping solutions. In summary, the PCP market is positively
driven by the ongoing global need for water and wastewater treatment solutions,
playing a pivotal role in ensuring clean water supplies, environmental
sustainability, and public health. As these needs persist and regulations
tighten, the demand for PCPs in the water treatment sector is set to remain
robust.
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"Global Progressing Cavity Pump Market”
The Global Progressing
Cavity Pump Market is segmented into power capacity, application, power rating and
region. Based on application,
The Water Wastewater Management segment had the largest market share in 2022
& expected to maintain it in the forecast period. Water and wastewater
management is dominating the global Progressing Cavity Pump (PCP) market for
several compelling factors , Firstly, the increasing global emphasis on
environmental sustainability and the need for efficient water treatment
solutions have significantly driven the demand for PCPs. These pumps are
well-suited for the challenges posed by water and wastewater applications,
including handling viscous fluids, slurries, and solids. As governments and
industries strive to comply with strict environmental regulations and reduce
water pollution, PCPs have emerged as an essential tool to achieve these goals.
Secondly, population growth, urbanization, and industrial expansion have led to
a surge in the generation of wastewater. PCPs are a critical component in
wastewater treatment processes, aiding in tasks such as sludge transfer,
dewatering, and handling abrasive materials. Their reliability and robustness
make them an ideal choice for managing the complexities of wastewater treatment
facilities, ensuring efficient and sustainable water management. Furthermore,
PCPs play a crucial role in providing clean and safe drinking water to
communities worldwide. They are employed in potable water supply systems and
the transportation of potable water. This ensures that people have access to
safe drinking water, contributing to public health and well-being.
Based on power
capacity, The Up to 500 GPM segment had the largest market share in 2022 and is
projected to experience rapid growth during the forecast period. The Up to 500
GPM (Gallons Per Minute) Power Capacity segment is dominating the global
Progressing Cavity Pump (PCP) market for several compelling factors, Firstly,
this segment aligns with the majority of industrial applications where PCPs are
employed. Many industries, including oil and gas, chemicals, food and beverage,
and wastewater treatment, require fluid handling solutions within this power
capacity range. PCPs in the Up to 500 GPM category are well-suited for handling
a wide range of viscosities, making them versatile choices for these diverse
applications. Secondly, the demand for PCPs within this power capacity segment
is bolstered by the efficiency and cost-effectiveness they offer. They are
capable of providing precise and consistent flow rates while maintaining low
operating costs. This efficiency is particularly crucial in industries where
fluid transfer and processing are integral to operations, such as in chemical
dosing, food processing, and sludge handling in wastewater treatment.
Furthermore, the Up to 500 GPM PCPs are often considered an optimal choice for
mid-sized industrial operations. They strike a balance between providing
sufficient power to meet operational requirements and being manageable in terms
of installation, maintenance, and energy consumption. This versatility and
adaptability to various applications have contributed to their dominance in the
market.
Major companies
operating in the Global Progressing Cavity Pump Market are:
- NOV Inc
- NETZSCH Group
- SEEPEX
- CIRCOR
International, Inc.
- Schlumberger
- PCM Group
- Sulzer Ltd
- ChampionX
Corporation
- Roto Pumps
Ltd
- Wilo SE
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“The Global Progressing
Cavity Pump market is expected to rise in the upcoming years and register a
significant CAGR during the forecast period. The growth of the global Progressing
Cavity Pump (PCP) market is primarily propelled by the continual expansion of
the oil and gas industry. PCPs are indispensable for handling challenging
fluids and solids encountered in oil and gas extraction, providing
cost-effective and reliable solutions. As the energy demand rises and
operations become more complex, PCPs play a pivotal role in ensuring efficient
resource extraction, making them a key driver in the industry. Therefore, the
market of Progressing Cavity Pump is expected to boost in the upcoming years.,”
said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based management consulting firm.
“Progressing Cavity Pump Market By Power Capacity (Up to
500 GPM, 501 GPM - 1000 GPM, Above 1000 GPM), By Application (Oil Gas, Water
Wastewater Management, Food Beverages, Chemicals Petrochemicals, Others) By
Power Rating (Below 50 HP, 51 HP - 150 HP, Above 150 HP), By
Region, By Competition Forecast & Opportunities, 2018-2028F”,
has evaluated the future growth potential of Global Progressing Cavity Pump
Market and provides statistics & information on market size, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision-makers make sound investment decisions., The
report also identifies and analyzes the emerging trends along with essential
drivers, challenges, and opportunities in the Global Progressing Cavity Pump
Market.
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