Market Overview:
Progressive Cavity Pump Market size is projected to reach USD 4.37 Billion by 2025, with 4.96% CAGR during the forecast period.
The factors primarily leading to the growth of the global progressive cavity pump industry include the increase in demand from water & wastewater management and the growing infrastructure industry in Asia-Pacific. For instance, governments across the globe are focusing on the development of strict regulatory policies to build efficient water systems, including the development of centralized systems for the distribution and design of water treatment plants.
Additionally, China plans to invest around RMB 559 billion in the water treatment industry, as stated in its five-year plan (2016–2020). Increasing investment in the wastewater industry in developing countries presents growth opportunities for the global market. However, high maintenance cost hampers the market growth during the forecast period.
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The Global Progressive Cavity Pump Market is segmented based on power rating and end-user. The global market includes up to 50 hp, 51-150 hp, and above 150 hp by power rating. The up to 50 HP segment is expected to hold the largest share due to an increase in infrastructure development. By end-user, the global market is segmented into oil & gas, water & wastewater, food & beverage, chemical & petrochemical, and others. The water & wastewater segment is estimated to grow with the highest CAGR during the forecast period due to increasing demand for freshwater increasing the use of progressive cavity pumps in water treatment plants for polymers, sludge, and waste.
Market Segmentation:
The global market for progressive cavity pumps is expected to witness high growth during the forecast period owing to the increase in oil and gas production after a decline in oil prices.
A progressive cavity pump transfers fluids through the pump by means of small, fixed shape, discrete cavities. Progressive cavity pump parts include an internal rotor to push the fluid through a stator. This pump is a positive displacement pump that is used to handle highly viscous fluids required to be moved long distances. These pumps are primarily used in water and wastewater applications for moving sludge containing softer type solids. Advantages of progressive cavity pumps include continuous flow, large free ball passage, high suction capacity, and low life-cycle costs.
Regional Analysis:
The Global Progressive Cavity Pump Market is segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America. North America dominated the progressive cavity pump in terms of market share owing to an increase in the investment in water & wastewater and oil & gas industry in the US & Canada. For instance, in July 2019, Canada Infrastructure Bank (CIB) announced an investment of USD 20 million in Mapleton’s water and wastewater project. Similarly, in September 2019, the US Department of Agriculture (USDA) announced to invest USD 144 million to improve rural water infrastructure in 25 states of the US. Such investments raise the demand for the market in North America.
Top Market Players
The global progressive cavity pump manufacturers include National Oilwell Varco (US), Halliburton (US), Dover (US), Schlumberger (US), Xylem (US), Weatherford (US), Netzsch (Germany), Circor International, Inc. (US), Seepex (US), PCM (US), Moyno (US), Synopumps (India), ITT (US) and Sydex (Italy).
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Industry News:
In April 2019, Netzsch launched a new concept, Full Service in Place (FSIP) pump design with the stator adjustment unit that would help triple the service life in wastewater treatment plants.
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