PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1477140
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1477140
Progressing Cavity Pump Market size was valued at USD 2,392.17 million in 2023, expanding at a CAGR of 5.92% from 2024 to 2032.
A Progressive Cavity Pump is a type of positive displacement pump that consists of a metallic rotor rotating within a stator housing. The stator is made of a rubber-like material and has a screw thread-like appearance, with the fluid located between the cavities. The rotary motion of the rotor propels the fluid from one end to the other. Progressing Cavity pumps are used in situations where gentle handling of a product is necessary, and they are employed in various industries to continuously and smoothly convey almost all types of media. These pumps operate with minimal pulsation and can accurately dose in proportion to speed.
Progressing Cavity Pump Market- Market Dynamics
A high adoption rate of modern pumping technologies is expected to augment the growth of the global progressing cavity pump market
Progressing cavity pumps have become well-known for their exceptional efficiency and reliability, making them a preferred choice for various industries such as oil & gas, wastewater treatment, food & beverages, and chemical processing. The continuous advancements in pump design, materials, and technology have further improved their effectiveness, resulting in an increase in their adoption by end-users who seek reliable pumping solutions. According to the Aquatech platform, pumps account for up to 40 percent of industrial energy usage in modern cities, and smart pumps offer an energy-saving solution for cities aiming to transition into smart cities. Additionally, the ongoing enhancements in pump design, materials, and technology continue to enhance the efficiency and performance of progressing cavity pumps. However, the high initial cost may pose a potential obstacle to market growth.
Progressing Cavity Pump Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 5.92% over the forecast period (2024-2032)
Based on Power Rating segmentation, Up to 50 HP was predicted to show maximum market share in the year 2023
Based on Pumping Capacity segmentation, 0-500GPM was the leading type in 2023
Based on end-user segmentation, Water & Wastewater Management was the leading type in 2023
Based on region, North America was the leading revenue generator in 2023
The Global Progressing Cavity Pump Market is segmented based on Power Rating, Pumping Capacity, Application, End-User, and Region.
The market is segmented into three divisions according to Power Rating: Up to 50 HP, 51 HP-150 HP, and Above 150 HP. The segment of Up to 50 HP holds a significant share in the market. The Progressing Cavity Pump (PCP) market in the 50 HP range has experienced a consistent expansion in the past few years, driven by factors like rising demand in sectors such as oil and gas, water and wastewater treatment, and food processing, among others.
The market is segmented into three groups according to Pumping Capacity: 0-500GPM, 500-1000GPM, and Above 1000GPM. The dominant segment in the market is 0-500GPM. The demand for PCPs within the 0-500 GPM range is projected to keep expanding as industries strive for efficient and dependable pumping solutions for diverse applications.
The market is segmented into three groups according to Application: High Liquid Viscosity, Varied Flow, Liquid Containing Abrasive Solids, Sheer Sensitive Liquid, and Others. With industries increasingly looking for effective and durable pumping solutions customized to their requirements, the usage of PCPs in these application segments is projected to increase, propelled by technological advancements and a commitment to operational efficiency and sustainability.
The market is categorized into four segments according to the end-users: Oil & Gas, Water & Wastewater Management, Food & Beverage, Chemical & Petrochemical, and Others. The dominant segment in the market is Water & Wastewater Management. Within wastewater treatment plants, PCPs are widely utilized for pumping sludge. Given the high viscosity and solid content of sludge, it necessitates durable pumping solutions, in which PCPs excel.
Progressing Cavity Pump Market- Geographical Insights
The market is geographically spread across North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa, with each region further segmented by nations. North America leads the market, driven by the increasing demand for oil & gas production and a focus on wastewater treatment. Particularly, the United States and Canada have witnessed substantial growth in oil and gas production. Progressing cavity pumps are extensively utilized in the oil & gas sector for artificial lift applications, such as extracting crude oil, water, and natural gas from wells. The U.S. crude oil production is projected to increase by 850,000 barrels per day, reaching a record 12.76 million bpd by 2023, as per a monthly report from the Energy Information Administration. In the Forecast Period, Europe also holds a dominant position in the market, attributed to the expanding industrial applications. Progressing cavity pumps play a vital role in various stages of the wastewater treatment process, including sludge handling, dewatering, and chemical dosing.
The competitive landscape of the Progressing Cavity Pump Market is shaped by continuous innovation in pump design, materials, and manufacturing processes. Companies strive to enhance pump performance, improve energy efficiency, minimize maintenance needs, and incorporate smart technologies for remote monitoring and control. To expand their market reach, companies focus on establishing a robust global presence and distribution network. Setting themselves apart, companies provide extensive technical support, maintenance services, training programs, and timely responses to customer inquiries and concerns.
NETZSCH progressing cavity pumps are known for their versatility, innovation, and high-performance capabilities. These pumps excel in handling fluids with varying viscosities, abrasiveness, and shear sensitivity. As a result, they are well-suited for transferring a wide range of substances, from thin liquids to highly viscous materials, in various industrial applications.
On November 24, 2022, Vogelsang GmbH & Co. KG introduced a new progressive cavity pump specifically designed for biogas plants. This pump features a conical shape and incorporates an innovative setting system, which not only helps conserve energy but also significantly prolongs its service life.
GLOBAL PROGRESSING CAVITY PUMP MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Champion
Circor International Inc.
Continental Pump Company Inc.
Erich NETZSCH GmbH & Co. Holding KG
Liberty Process Equipment Inc.
Nov Inc.
Nova Rotors Srl
PCM Inc. (Insight Enterprises Inc.)
Pumpenfabrik Wangen GmbH
Schlumberger Limited
Vogelsang GmbH & Co. KG
Weatherford International LLC
Xylem Inc.
Others