Press release
APAC Is Dominating the Progressing Cavity Pump Market
The total value of the global progressing cavity pump market was USD 2,244 million in 2022, and it will rise at a growth rate of above 5.2% shortly, reaching USD 3,366 million by 2030, according to P&S Intelligence.This growth can be credited to the increasing demand for such pumps in the utilization of improved oil recovery and other upriver processes, the rising concentration and steps for advancing water and wastewater supervision practices, and the growing applications in energy generation because of their cost-efficiency.
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Wastewater recycling is very vital for dealing with water shortage and its problems. Governments in several regions are concentrating on refining wastewater supervision to deal with water shortage. Nations are accepting numerous methods of wastewater management, ecosystem-based management, and connecting industries and are receiving instant benefits from improved wastewater management.
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The increasing demand for technological improvements in solutions for the managing of different manufacturing plants in China and India brands the APAC region an industry leader, with a market share of 38% in 2022. Furthermore, this is also boosted by advancing the economic circumstances of nations and growing industrialization in the region.
Hence, the increasing demand for such pumps in the utilization of improved oil recovery and other upriver processes, the rising concentration and steps for advancing water and wastewater supervision practices, and the growing applications in energy generation because of their cost-efficiency, are the major factors propelling progressing cavity pump market.
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P&S Intelligence provides market research and consulting services to a vast array of industries across the world. As an enterprising research and consulting company, P&S believes in providing thorough insights on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. P&S keeps the interest of its clients at heart, which is why the insights we provide are both honest and accurate. Our long list of satisfied clients includes entry-level firms as well as multi-million-dollar businesses and government agencies.
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