Press release
Progressing Cavity Pumps Market Set for Steady Growth, Reaching $5.7 Billion by 2031
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Analyst Viewpoint
The growth of the progressing cavity pumps market is driven by the expansion in the oil & gas sector and increased investments in wastewater treatment. These pumps are widely used in various industries such as food & beverage, water & wastewater, and oil & gas due to their ability to handle high-viscosity fluids with precision. Innovations by key market players in zero-pressure solutions and friction reduction tools are expected to enhance market growth.
Market Introduction
Progressive cavity pumps are positive displacement pumps that transfer fluid through a fixed case using a revolving screw. They are ideal for pumping highly abrasive and viscous substances and are commonly used in wastewater streams. These pumps are particularly effective in managing high-viscosity fluids, making them essential for industries dealing with thick liquids such as waste-activated sludge.
Market Drivers
Expansion in the Oil & Gas Sector:
Progressive cavity pumps are essential for handling high-viscosity fluids, making them indispensable in the oil & gas, food & beverage, and water & wastewater sectors.
The global oil production in 2022 was 93.9 million barrels per day, with the U.S. contributing 17.8 million barrels per day, highlighting the sector's significant demand for these pumps.
Rise in Investment in Wastewater Treatment:
Progressive cavity pumps are a preferred choice in wastewater treatment for moving viscous and abrasive liquids.
Increasing need for clean water resources has led to more investments in wastewater treatment, such as Saudi Arabia's plans to triple its desalination capacity by 2027.
Regional Outlook
Asia Pacific held the largest market share in 2022 due to rapid economic growth, urbanization, and industrial development. Countries in this region are investing heavily in shale exploration, with significant projects like Cairn Oil & Gas's extended production sharing contract in Rajasthan, India, contributing to market growth.
Key Players and Innovations
Major players in the progressing cavity pumps market include National Oilwell Varco, NOV Inc., Weatherford International, ChampionX Corporation, Circor International Inc., and many others. These companies are focusing on innovative technologies, such as NOV Inc.'s AgitatorZP System, launched in January 2023, which enhances drilling performance without pressure limitations.
Market Segmentation
By Installation:
New Installation
Aftermarket
Spares
Services
Refurbishment
By Pumping Capacity:
Up to 100 GPM
100-250 GPM
250-500 GPM
501-1000 GPM
Above 1000 GPM
By Pressure Rating:
Up to 6 Bar
6-12 Bar
Above 12 Bar
By Application:
High Liquid Viscosity
Varied Flow
Liquid Containing Abrasive Solids
Sheer Sensitive Liquid
Others (including Suction Conditions)
By End-user:
Oil & Gas
Water & Wastewater Management
Food & Beverages
Chemical & Petrochemical
Pulp & Paper
Sugar
Paints & Coatings
Ceramics
Biogas
Mining & Explosive
Marine
Others (including Power Plant and Pharmaceutical)
Regions Covered
North America
Europe
Asia Pacific
South America
Middle East & Africa
Companies Profiled
Some of the key companies profiled in the market report include:
National Oilwell Varco
NOV Inc.
Weatherford International
ChampionX Corporation
Circor International Inc.
Borets International Ltd.
Roto Pumps Limited
Mono Pumps
Nova Rotors, Srl
Liberty Process Equipment
SEKO
Continental Ultra Pumps
Artemis PC Pump Systems Ltd
INOXPA Group
Syno Pumps
Moyno, Inc.
Franklin Electric South Africa (PTY) Ltd.
KUDU Industries
SEEPEX GmbH
Netzsch Pumps and Systems
Wangen Pumpen
Boerger GmbH
PCM Artificial Lift Solutions
Roper Pump Company
Vogelsang
Key Developments in Progressing Cavity Pumps Market
January 2023: NOV Inc. launched the AgitatorZP System, a friction reduction tool designed for applications with standpipe pressure limitations, enhancing weight transfer and drilling performance in extended-reach laterals.
Market Snapshot
Market Size in 2022: US$ 3.2 billion
Market Forecast in 2031: US$ 5.7 billion
Growth Rate (CAGR): 6.7%
Forecast Period: 2023-2031
The global progressing cavity pumps market (캐비티 펌프 시장의 발전) is poised for significant growth, driven by advancements in technology, increased investments in critical sectors, and the strategic initiatives of key players.
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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