Pune, India, Feb. 09, 2022 (GLOBE NEWSWIRE) -- The global progressive cavity pump market size was USD 4.45 billion in 2020. The market is projected to grow from USD 4.77 billion in 2021 to USD 7.09 billion in 2028 at a CAGR of 5.8% during the 2021-2028 period. This information is provided by Fortune Business Insights, in its report titled, “Progressive Cavity Pump Market, 2021-2028.”
According to our researchers, rotating positive displacement pumps are the most common type of progressing cavity pump. They are mostly utilized for continuous, gentle conveyance and precise dosage due to their high process liability and suction capacity. They are incredibly adaptable and can be utilized for a variety of pumping tasks. They have all the benefits of a positive displacement pump and are primarily designed for abrasion resistance in high-stress pumping applications.
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Segments:
Pumping Rate (GPM), Power Rating (HP), End-user, and Region are studied for the Market. On the basis of pumping rate (GPM), the market is branched into 0-500, 500-1000, and above 1000. Based on power rating (HP), the market is segregated into up to 50, 51-100, and above 100. Based on end-user, the market is segmented into oil & gas, water and wastewater, food & beverages, chemicals & petrochemicals, pulp & paper, and others. In terms of geography, the global market is separated into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
COVID-19 Impacts:
Global Spread of COVID-19 Virus Hindered Market Growth
The ongoing COVID-19 pandemic has imposed travel restrictions and suspension of industrial works to minimize the impact and spread of the virus. The market has seen a drop in demand from several end-user industries since the onset of COVID-19. Under such difficult conditions, these businesses have witnessed a major drop in revenue and profits, resulting in a significant reduction in the number of employees and workers, and an overall loss in industrial production activities.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2021-2028 |
| Forecast Period 2021 to 2028 CAGR | 5.8% |
| 2028 Value Projection | 7.09 billion |
| Base Year | 2020 |
| Market Size in 2021 | 4.77 billion |
| Historical Data for | 2017-2019 |
| No. of Pages | 210 |
| Segments covered | By Pumping Capacity (GPM), By Power Rating (HP), By End-user, and By Region |
| Growth Drivers | COVID-19: Supply Chain Disruption and Travel Restriction amid Pandemic to Hamper Growth |
| Increasing Focus on Digitalization to Spur Lucrative Opportunities | |
| Lower Energy and Maintenance Cost to Stimulate Growth | |
| Pitfalls & Challenges | Continues Change In Operating Parameter To Hinder Market Growth |
Report Coverage:
The market research report offers important insights, facts, industry-related information, and historical data to provide a thorough industry assessment. To develop the market research report, several procedures and approaches are used to make meaningful assumptions and viewpoints. The research also includes a detailed analysis of market segments, such as pumping capacity, power rating, end-users, and geographies, to provide our readers with a complete picture of the global industry.
Drivers and Restraints:
Rising Demand from End-use Applications to Foster Market Growth
A progressive cavity pump is used in a variety of sectors to transfer raw materials with changing viscosity, abrasiveness, or even high solid content on a continuous or intermittent basis. These pumps are used by various industrial operators in water and wastewater, oil and gas, and food and beverage industries to discharge high viscous material at a steady flow rate. Furthermore, as compared to alternative approaches, the usage of progressive cavity pumps helps plant operators save large amounts of energy, lower maintenance costs, and reduce downtime. The pump is utilized in a variety of sectors to improve industrial process recovery. Changes in good conditions and operational parameters, such as motor speed, can cause havoc with the pump and disrupt the system's steady and reliable operation. In addition, changing the pump speed can reduce the process optimization. These factors are likely to drive the progressive cavity pump market growth.
Regional Insights:
Asia Pacific is expected to have the highest progressive cavity pump market share. The region's market expansion may be ascribed to a number of factors, including rapid economic growth and associated increases in economic activities, such as industrialization, modern agriculture, and urbanization, all of which have increased the demand for clean and reusable water. Rapid industrialization, investment in water and wastewater treatment infrastructure, expansion of various industries, such as chemicals, power, and oil & gas, an increase in infrastructural development projects, particularly in China and India, and an intensifying need for proper sanitation with rising standards of living and urbanization are the key factors driving the growth of the market in Asia Pacific.
The markets in North America and Europe are expected to increase at a rapid pace over the projected period. The market is expected to be driven by industries such as water and wastewater. To put things in perspective, municipal wastewater systems serve about 86% of the population in Canada.
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Competitive Landscape:
Presence of Vital Players to Steer Market Growth
Due to the small number of companies functioning in the industry, the cavity pump market is becoming increasingly consolidated. To retain their market position, several market players around the world are boosting their participation in product development. In addition, the businesses are increasing their manufacturing capacities.
Industry Developments:
- October 2021: At the Water Environment Federation Annual Technical Exhibition and Conference 2021, NETZSCH demonstrated its broad line of innovative pumps, which includes a number of rotary lobe pumps and progressive cavity pumps for challenging waste water applications.
Companies Profiled in the Report:
- Seepex GmbH (Germany)
- Schlumberger (U.S.)
- NOV (U.S.)
- Xylem Inc. (U.S.)
- CIRCOR (U.S.)
- Weatherford (U.S.)
- Borets (UAE)
- Roto Pumps (India)
- Sulzer (Switzerland)
- Champion X (U.S.)
- PCM Group (Paris)
- NETZSCH Technologies (Germany)
- Verder Liquid (Netherlands)
- Nordson (U.S.)
- Pumpenfabric Wangen (Germany)
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Major Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions & Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Insight on Regulatory Landscape
- Industry SWOT Analysis
- Porters Five Forces Analysis
- Qualitative Analysis – Impact of COVID-19
- Impact of COVID-19 on the Progressive Cavity Pump Market
- Steps Taken by the Government to Overcome the Impact
- Key Developments in the Industry in Response to COVID-19
- Potential Opportunities and Challenges due to COVID-19 Outbreak
- Global Progressive Cavity Pump Market (USD Billion) Analysis, Insights, and Forecast, 2017-2028
- Key Findings
- Market Analysis, Insights and Forecast – By Pumping Capacity (GPM)
- 0 to 500
- 500 to 1000
- Above 1000
- Market Analysis, Insights and Forecast – By Power Rating (HP)
- Up to 50
- 51 to 100
- More than 100
- Market Analysis, Insights, and Forecast – By End-user
- Oil & Gas
- Water & Wastewater
- Food & Beverages
- Chemical & Petrochemicals
- Pulp & Paper
- Others
- Market Analysis, Insights, and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Progressive Cavity Pump Market (USD Billion) Analysis, Insights, and Forecast, 2017-2028
- Key Findings
- Market Analysis, Insights and Forecast – By Pumping Capacity (GPM)
- 0 to 500
- 500 to 1000
- Above 1000
- Market Analysis, Insights and Forecast – By Power Rating (HP)
- Up to 50
- 51 to 100
- More than 100
- Market Analysis, Insights, and Forecast – By End-user
- Oil & Gas
- Water & Wastewater
- Food & Beverages
- Chemical & Petrochemicals
- Pulp & Paper
- Others
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