Progressing Cavity Pumps Market to Reach Value of US$ 5.7 Bn by 2031, TMR Study

• The global progressing cavity pumps market is projected to expand at a CAGR of 7% during 2021-2031
• Rising use of coal water slurry instead of conventional fossil fuels is expected to help in expansion of the progressing cavity pumps market size
• Increasing industrialization across emerging economies of Asia Pacific drives the market expansion

WILMINGTON, Del., Oct. 19, 2022 /PRNewswire/ -- The global progressing cavity pumps market is prognosticated to reach a value of US$ 5.7 Bn by the end of 2031, according to a research report by Transparency Market Research (TMR). In addition, the progressing cavity pumps market growth forecast by TMR finds that the market is expected to grow at a CAGR of 7% during the forecast period, from 2021 to 2031.

A rise in industrialization across many developing nations globally is projected to help in the market expansion in the near future, states TMR analysis that covers in-depth study of the progressing cavity pumps market shares. This aside, the rapid expansion of varied end-use industries including power, oil & gas, and chemicals is driving the sales of progressing cavity pumps. In addition, rising investments in water & wastewater treatment infrastructures are expected to fuel the growth prospects in the market, note analysts of a TMR report that sheds light on the progressing cavity pumps market trends.

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A surge in the infrastructural development activities and rise in urbanization globally are prognosticated to help in the expansion of the global progressing cavity pumps market during the forecast period. Companies operating in the global progressing cavity pumps market are focusing on the use of varied strategies such as new product launches and regional expansions in order to stay ahead of the competition. Thus, such initiatives are fueling overall market expansion, note analysts of a TMR study.

Progressing Cavity Pumps Market: Key Findings

• The need for uninterrupted power supply is being rising across several emerging economies including India and China, states a TMR study on the progressing cavity pumps market. Moreover, rising incidences of power cuts, load shedding, and blackouts have resulted into increase in the adoption of steam turbines in order to generate power, where coal water slurry is used as a substitute fuel for operating/driving steam turbines. Hence, a surge in the use of coal water slurry for electricity generation as well as application of progressing cavity pumps in pumping of the coal water slurry are driving the growth prospects in the market, notes a TMR analysis.
• Progressing cavity pumps are being increasingly utilized in the oil & gas industry for artificial lifting as they can sustain wellbore solids and maintain consistent fluid discharge, notes a TMR investigation. The design of these pumps are developed in a way such that, at the pump inlet, the progressing cavity pump system can restrict the solid impurity intake, which can decrease the intake blockages risk and consequently help in advancing the fluid inflow. Owing to this factor, the demand for progressing cavity pumps is being rising among companies from varied end-use industries, states a TMR assessment.

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Progressing Cavity Pumps Market: Growth Boosters

• Surge in the adoption of coal water slurry as an alternative to traditional fossil fuels is leading to notable business prospects in progressing cavity pumps market
• Technological developments in equipment in order to advance the efficiency of progressing cavity pumps is driving the market growth

Progressing Cavity Pumps Market: Key Players

Some of the key players profiled in the report are:

• Mono Pumps
• National Oilwell Varco
• Netzsch pumps
• SEEPEX GmbH
• Wangen Germany
• Circor International
• Nova Rotors Srl
• Vogelsang USA
• Borger GmbH
• SEKO S.p.A
• Liberty Process Equipment
• Artemis PC Pumps Systems Ltd
• Continental Ultra Pumps

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Progressing Cavity Pumps Market Segmentation

Installation

• New Installation
• Aftermarket
• Spares
• Services
• Refurbishment

Pumping Capacity

• Up to 100 GPM
• 100 – 250 GPM
• 250 – 500 GPM
• 501 – 1000 GPM
• Above 1000 GPM

Pressure Rating

• Up to 6 bar
• 6 – 12 bar
• Above 12 bar

Application

• High Liquid Viscosity
• Varied Flow
• Liquid Containing Abrasive Solids
• Sheer Sensitive Liquid
• Others (including Suction Conditions)

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)

Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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