Progressing Cavity Pumps Market projected to record an exponential growth with impressive CAGR globally by 2024 | Top Key Companies Profile - Schlumberger, Weatherford, Baker Hughes
Global Progressing Cavity Pumps Market overview:
The report of global Progressing Cavity Pumps Market includes the competitive landscape section which provides the full and in-depth analysis of the current market trends, changing technologies and developments that will be beneficial for the companies, which are competing in the market. The report offers an overview of revenue, demand, and supply of data, futuristic cost, and growth analysis during the projected the year.
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With the slowdown in world economic growth, the Progressing Cavity Pumps industry has also suffered a certain impact, but still maintained a relatively optimistic growth, the past four years, Progressing Cavity Pumps market size to maintain the average annual growth rate of 0.0131734954148 from 695.0 million $ in 2014 to 742.0 million $ in 2019, Market analysts believe that in the next few years, Progressing Cavity Pumps market size will be further expanded, we expect that by 2024, The market size of the Progressing Cavity Pumps will reach 796.0 million $.
The Global Progressing Cavity Pumps Market is segmented on the basis of Product Type, Application, End Use Industry and Region. On the Basis of Product Type segment, the Progressing Cavity Pumps Market is sub segmented into Dosing, Flanged, Hopper, Food Grade.
Based on End Use Industry segment, the Progressing Cavity Pumps Market is sub segmented into Oil & Gas, Food, Industries. The water & wastewater management segment led the progressing cavity pump market in 2017. Overhung impeller pumps are widely used in various applications, including residential, commercial buildings, and industrial settings for light applications. They are also used in the power generation sector by various end-users because of their lower costs as compared with between-bearing pumps.
As per the geographic analysis North America is expected to dominate the progressing cavity pump market during the forecast period because of increased investments in water & wastewater infrastructure and oil & gas sector and growing industrialization in the United State and Canada region. The figure given below shows the projected market sizes of various regions with respective Compound Annual Growth Rate for 2024.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Some of the major players that operate in the Global Progressing Cavity Pumps Market are Schlumberger, Weatherford, Baker Hughes, General Electric, Halliburton, Borets, BELLIN, THE VERDER, Nova rotors, JOHSTADT, Seepex, Csf, Sydex, Beinlich, VARISCO, Colfax Fluid Handling, ITT Bornemann, Sulzer, Pumpenfabrik Wangen, Netzsch, PCM.
Latest Industry Updates:
Schlumberger :- Smith Bits, a Schlumberger company, today introduced Aegis* armor cladding that significantly improves bit body design flexibility and erosion resistance, increasing rate of penetration (ROP) and bit durability for longer runs. Composed of a proprietary tungsten carbide material, Aegis cladding increases bit erosion resistance by 400% and strength by 40% when compared to conventional matrix polycrystalline diamond compact (PDC) bits.
“Our new armor cladding technology combines innovative materials science with an electron-beam additive manufacturing process,” said Kristi Vilay, president, Bits & Drilling Tools, Schlumberger. “This new manufacturing approach allows us to integrate a new proprietary material into our customized, fit-for-basin bits, providing a differentiated technology to improve our customers’ overall drilling performance.”
In addition to improving erosion resistance, Aegis cladding enables bit designs with taller blades and optimal nozzle placement. This results in more efficient cuttings evacuation that improves ROP. Aegis cladding has undergone extensive field testing across five shale basins in North America. The technology has also been field tested in Europe, the Middle East and South America for both onshore and offshore applications.
In Oklahoma’s Anadarko Basin, two steel-bodied bits with Aegis cladding were deployed for an international oil and gas company in eight wells for a total of eight bit runs. The use of Aegis cladding enhanced the fit-for-basin bit design with taller blades and optimal nozzle placement. This increased ROP by 36% compared with direct offset runs of matrix PDC bits and saved the customer an estimated 179 hours of drilling time across the eight runs.
Market segment by Regions/Countries, this report covers:
1 North America Country (United States, Canada)
2 South America
3 Asia Country (China, Japan, India, Korea)
4 Europe Country (Germany, UK, France, Italy)
5 Other Country (Middle East, Africa, GCC)
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Table of Contents:
Global Progressing Cavity Pumps Market Report 2019
1 Progressing Cavity Pumps Definition
2 Global Progressing Cavity Pumps Market Major Player Share and Market Overview
3 Major Player Progressing Cavity Pumps Business Introduction
4 Global Progressing Cavity Pumps Market Segmentation (Region Level)
5 Global Progressing Cavity Pumps Market Segmentation (Product Type Level)
6 Global Progressing Cavity Pumps Market Segmentation (Industry Level)
7 Global Progressing Cavity Pumps Market Segmentation (Channel Level)
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