CHICAGO, April 15, 2024 /PRNewswire/ -- Progressing Cavity Pump Market is expected to reach USD 3.6 billion by 2029 from USD 2.8 billion in 2024 at a CAGR of 5.0% during the forecast period according to a new report by MarketsandMarkets. The global market for progressing cavity pumps is indeed witnessing substantial growth, propelled by a multitude of factors that extend its influence across the world. Foremost among these drivers is the ongoing industrialization and urban expansion in emerging economies, which create a burgeoning demand for efficient fluid handling solutions across various sectors. This demand is particularly pronounced in industries such as oil and gas, water and wastewater treatment, food and beverage, chemicals, and mining, where progressing cavity pumps find extensive application due to their versatility and reliability. Additionally, the tightening of environmental regulations and increased emphasis on workplace safety are compelling industries worldwide to invest in advanced pumping technologies like progressing cavity pumps. These pumps not only offer superior performance but also boast environmental sustainability features, aligning with the global trend towards greener and more efficient industrial practices.
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222 - Tables
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Progressing Cavity Pump Market Scope:
Report Coverage | Details |
Market Revenue in 2024 | $2.8 billion |
Estimated Value by 2029 | $3.6 billion |
Growth Rate | Poised to Grow at a CAGR of 5.0% |
Largest Market | Asia Pacific |
Market Size Available for | 2020-2029 |
Forecast Period | 2024-2029 |
Forecast Units | Value (USD Million/Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Power Rating, By Pumping Capacity, By End-user Industry, By Product type, By Stage type |
Geographies Covered | Asia Pacific, North America, Europe, Middle East and Africa, and South America |
Key Market Opportunities | Adoption of Industry 4.0 technologies |
Key Market Drivers | Growing demand from the water & wastewater treatment sector |
Water & Wastewater Treatment, by end-user industry, to occupy majority of Progressing Cavity Pump Market share.
The water and wastewater treatment industry is poised to dominate the majority share of the Progressing Cavity Pump Market due to several key reasons. Firstly, with the global focus on environmental sustainability and the need for clean water sources, there is a growing demand for efficient fluid handling solutions in water and wastewater treatment facilities worldwide. Progressing cavity pumps are particularly well-suited for this industry due to their ability to handle a wide range of fluids, including viscous and abrasive materials, making them indispensable in various treatment processes such as sludge handling, chemical dosing, and filtration. Moreover, as population growth and urbanization lead to increased pressure on water resources and wastewater management systems, there is a heightened emphasis on upgrading and expanding existing treatment infrastructure. Progressing cavity pumps play a crucial role in these endeavors, offering reliable and efficient pumping solutions that help ensure the smooth operation of water treatment plants, sewage treatment facilities, and other related installations.
By Power rating, up to 50 HP segment is expected to be the largest market.
The up to 50 HP segment is anticipated to emerge as the largest market segment in the progressing cavity pump industry due to its versatility and applicability across a wide range of industries and applications. This power rating range caters to the needs of small to medium-sized operations, which constitute a significant portion of the market demand. Additionally, industries such as food and beverage, agriculture, and small-scale manufacturing often require lower horsepower pumps for their operations, driving the demand for progressing cavity pumps in this power range. Moreover, the compact size, lower initial cost, and relatively simpler maintenance requirements of pumps in the up to 50 HP segment make them highly attractive to a diverse range of end-users, further contributing to their market dominance.
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Asia Pacific to emerge as the largest Progressing Cavity Pump Industry.
The Asia Pacific region is poised to emerge as the largest Progressing Cavity Pump Market due to several key factors driving its rapid expansion. One primary driver is the region's robust industrial growth, fueled by burgeoning economies such as China, India, and Southeast Asian countries. As industrialization continues to accelerate in these nations, there is a heightened demand for efficient fluid handling solutions across a wide array of sectors including oil and gas, water and wastewater treatment, food and beverage, chemicals, and mining. Moreover, ongoing infrastructure development projects and urbanization further bolster the need for reliable pumping equipment, thereby stimulating market growth. Additionally, stringent environmental regulations and a growing emphasis on workplace safety propel industries to invest in advanced pumping technologies like progressing cavity pumps, which offer superior performance, reliability, and environmental sustainability. Furthermore, the presence of leading pump manufacturers and suppliers in the region, supported by robust research and development capabilities, ensures a steady supply of innovative and high-quality pumping solutions tailored to meet the diverse needs of Asia Pacific markets. With these factors combined, the Asia Pacific region is well-positioned to dominate the global Progressing Cavity Pump Market, showcasing significant growth potential in the coming years.
Key Players
Key players in the global Progressing Cavity Pump Companies include NETZSCH (Germany), SEEPEX (Germany), NOV (US), CIRCOR International (US), Schlumberger (US), and PCM (France).
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