The Global Progressing Cavity Pump Market size was valued at USD 2.28 billion in 2023 and is projected to reach a valuation of USD 3.11 billion by 2029 from USD 2.40 billion in 2024 growing at a CAGR of 5.33% during the forecast period from 2024 to 2029.
A progressing cavity pump could be a positive displacement pump, which is also referred to as a progressing cavity pump. Progressing cavity pumps are used in the pumping of viscous or shear-sensitive materials and fluid metering. Progressing cavity pumps play a really crucial part in multiple operations. The pumping of oil, viscous chemicals, and sewage, among other fluids, food, and drink products, are the places where these specific industrial pump designs have proven to be a perfect fit for their application.
Progressing cavity pumps require low maintenance, have low-profile surface equipment to compete with substitutes, and produce low background noise levels that increase the demand over the estimated period. Progressing cavity pumps have relatively simple operations and installations alongside relatively low power costs, which is anticipated to boost the worldwide progressing cavity pump market.
Therefore, the limited production rate and lower lifting capacity of larger progressing cavity pumps are estimated to hamper the worldwide progressing cavity pumps market over the forecast period. The need for highly skilled labor to install and operate systems, alongside paraffin control issues in the waxy crude application, is further expected to hamper the market's growth over the forecast period.
Wastewater reuse is one of the alternatives to beating water insufficiency and, therefore, the challenges faced thanks to an equivalent and meeting the growing water needs. PCPs are used extensively in wastewater treatment plants to process used water for treatment by utilizing rotating impellers to extend velocity and push fluids through an outlet valve. Hence, the growing number of wastewater treatment plants would boost the demand for the Progressing cavity pump market.
The outbreak of COVID-19 across the globe in the first half of 2023 forced multiple countries to go into complete lockdown. The strict guidelines issued by the governments of different countries and local authorities have adversely affected the Progressing cavity pump market due to the suspension of end-user activities. Additionally, production and supply chain delays are expected to pose a short-term challenge since end-user industries are still not operating at their full capacity.
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2022 – 2028 |
|
Base Year |
2022 |
|
Forecast Period |
2023 - 2028 |
|
CAGR |
5.33% |
|
Segments Covered |
By Pumping Capacity, Power Rating, End-User Industry, and Region. |
|
Various Analyses Covered |
Global, Regional, and Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
|
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
|
Market Leaders Profiled |
Xylem (US), Wilo (Germany), ITT Corporation (US), NETZSCH (Germany), Weir (UK), Sulzer (Switzerland), Roto Pumps (India), EBARA Corporation (Japan), CIRCOR International (US), SEEPEX (Germany), and Others. |
Progressing cavity pumps offering pumping capacity within the range of 0 to 500 GPM capture the most important share of the worldwide PCP market. In 2020, the segment captured quite 65% of the entire market due to these pumps' flexibility. Additionally, to their compact size, these pumps require less power-consuming electric or hydraulic motors that are favored across the planet for lower operational cost also as high efficiency. Lower operational cost is another prime factor thanks to which end-use industries like better to use these motors over their more powerful counterparts.
Progressing cavity pumps rated up to 50 hp are majorly used for abrasion resistance in tough pumping applications. Progressing cavity pumps become mechanical. Their volumetric efficiency increases when the viscosity of the liquid increases and they require a limited power supply and flow compared to other pumps. PCPs rated up to 50 hp are used mainly within wastewater treatment (for handling polymers, waste, sludge, and flocculants); chemicals (for handling detergents, varnish, paints, inks, and soaps); buildings (for handling cement and bentonite); agro and food (for handling creams, emulsions, wine, and olive oils); food & beverages (for handling foodstuff, beverage, food, fruits and vegetables, food, sauce and starch, care, meat, fish, and animal food) industries. Progressing cavity pumps with such power ratings aren't extensively utilized in the oil & gas industry because the oil & gas industry demands high power-rated operational equipment.
Water & wastewater is the largest user of PCPs among all industries. The requirement to reduce life cycle costs and improve operating margins is anticipated to boost the usage of PCP units within the water & wastewater industry for the processing of polymers, waste, sludge, and flocculants. Increasing demand for freshwater, handling liquids with higher viscosities, and a clean environment would also increase the necessity for water and wastewater management in the future, thereby creating opportunities for the usage of Progressing cavity pumps. The demand for these pumps is probably going to rise from new plant installations, unit expansions, and unit upgrades. As per the UN, the world's population will increase from 7.2 billion in 2013 to 8.1 billion by 2025. Hence, factors like population growth, especially in urban areas, increasing emphasis on wastewater treatment, industrial development, international commitments and targets, and government policies would facilitate the expansion of the water and wastewater industry. Moreover, by 2030, the UN plans to realize universal and equitable access to safe and affordable beverages and adequate and equitable sanitation for all. This involves huge investments within the water & wastewater sector. This, in turn, would drive the demand for the Progressing cavity pumps market during the estimated period.
The global market for progressing cavity pumps has been classified into Europe, Latin America, Asia Pacific, North America, and the Middle East & Africa on the basis of region. The increased demand from the water & wastewater management sector and significant demand from other sectors like food & beverages and chemical & petrochemical in North America is expected to boost the region's market during the estimated period. The progressing cavity pump market in the Asia Pacific and Europe is primarily driven by increasing industrialization and rising investments within the water and wastewater treatment infrastructure in these regions. In Europe, the implementation of huge industrial and commercial projects and the refurbishment of aging infrastructure are likely to generate demand for progressing cavity pumps.
In July 2020, Weatherford and an independent oil field operator in Argentina, Europe, signed an agreement for surface pumping. This agreement states that Weatherford will deliver 146 surface pumping units deployed in critical and challenging mature fields in Golfo San Jorge Basin to enhance the operator’s production efficiency and performance.
In January 2021, Liberty Oilfield Services and Schlumberger signed an agreement for pressure pumping transactions and onshore hydraulic fracturing business. This agreement states that the businesses we're working with are jointly within the US and Canada for pressure pumping and hydraulic fracturing operations. The contract between the two companies ended on 4th January 2021, and Liberty will still be led by its current management team, developing and delivering next-generation technology for the sustainable development of unconventional energy resources.
Related Reports
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 2500
Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM
Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: [email protected]
Reports By Region