PROGRESSING CAVITY PUMP MARKET ANALYSIS

The global progressing cavity pump market was valued at US$ 1,360.7 Mn in 2021 and is forecast to reach a value of US$ 1,695.7 Mn by 2028 at a CAGR of 3.3% between 2022 and 2028. The global progressing cavity pump market is experiencing strong growth due to the increase in demand for progressing cavity pumps from various end-use industries. Moreover, suitability for handling high-viscosity fluids and increasing number of smart cities worldwide is expected to boost the growth of the market. However, factors such as high deployment and maintenance cost and availability of substitutes or availability of low-quality and cost-effective products are expected to hamper growth of the progressing cavity pump market.

Global Progressing Cavity Pump Market: Regional Insights

Based on geography, the progressing cavity pump market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Among regions, North America is expected to gain highest share in the market over the forecast period due to the increasing use of progressing cavity pumps in oil recovery and other upstream processes in the region. For instance, this technique (progressing cavity pump) is used for oil wells to improve their production rate by lowering the bottom-hole pressure. According to the U.S. Energy Information Administration (EIA), North America's oil production amounted to 11.8 million barrels per day (b/d) in 2022 and 12.6 million b/d in 2023. Crude oil production averaged 11.3 million barrels per day (b/d) in 2020.

Asia Pacific is also expected to witness robust growth in the global progressing cavity pump market due to the increasing use of progressing cavity pumps and rising number of smart cities in the region. For instance, Prime Minister of India, Narendra Modi launched the government’s ambitious Smart Cities initiative in 2015, which aims to tackle key issues resulting from India’s rapid urbanization. India plans to have at least 100 smart cities by 2022, and by 2050, about 70 per cent of the population will be living in cities.

Figure 1. Global Progressing Cavity Pump Market Share (%), by Region, 2021

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Global Progressing Cavity Pump Market Drivers:

High adoption rate of modern pumping technologies is expected to augment the growth of the global progressing cavity pump market during the forecast period. For instance, a progressive cavity pump is a kind of positive displacement pump, designed to manage extremely difficult pumping applications and high viscous fluids. In February 2020, German Pump Manufacturer, Allweiler launched its next-gen series of AEB-DE progressing cavity pumps. Available in four sizes, pumps are capable of bi-directional flow and share a single installation footprint.

Increasing usage of progressing cavity pump in water and wastewater management worldwide is expected to boost the growth of the global progressing cavity pump market over the forecast period. Progressive cavity pumps have been one of the regular choices for wastewater treatment industries. In September 2022, Saudi Arabia’s National Water Company (NWC) signed two contracts worth 1.59 billion Saudi riyals ($ 423 million) with private-sector consortiums under its Long-Term Operation and Maintenance Contracts programme to rehabilitate, operate, and maintain six wastewater treatment plants in Makkah and Jeddah.

Global Progressing Cavity Pump Market Opportunities:

Rising number of smart cities worldwide is expected to offer lucrative growth opportunities for players in the progressing cavity pump market. For instance, the rising number of smart cities worldwide is expected to create substantial business opportunities for smart water management solution providers, which in turn is expected to increase the use of progressing cavity pump. There are more than 250 smart city projects from 178 cities around the world according to the report by smartcitiesieeee.org.

Suitability for handling high-viscosity fluids is expected to offer lucrative growth opportunities for players in the global progressing cavity pump market. For instance, a pump is designed to manage extremely difficult pumping applications and high viscous fluids. In September 2022, CIRCOR International launched the new ALLWEILER AEB-1F-ME mobile progressing cavity pump unit, ideal for food & beverage market transfer & metering applications, including wine and wine mash, fruits, water, dips, sauce, juice, and oils.

Global Progressing Cavity Pump Market Trends:

As the demand for water is increasing rapidly, so too are the amount of wastewater produced and its overall pollution load increasing worldwide. As a result, the usage of progressing cavity pump in water and wastewater management across the world is also increasing, and the trend is expected to continue during the forecast period. Furthermore, the growth of the progressive cavity pump market can be attributed to the increasing deployment in the water & wastewater treatment plants, especially in developing countries.

Moreover, constant need to modernize various industrial processes is playing an important role in driving progressing cavity pumps market trends in the coming future. Therefore, there is an increase in demand for progressing cavity pumps form various end-use industries, and the trend is expected to continue during the forecast period.

Global Progressing Cavity Pump Market Restraints:

Availability of substitutes or availability of low-quality and cost-effective products is expected to hamper the growth of the progressing cavity pump market. For instance, progressive cavity pumps cannot be run dry or they will be damaged. Moreover, they cannot pump against a closed discharge or they will be damaged. This in turn is expected to increase the use of substitutes. For instance, Boyser peristaltic pumps are an excellent alternative to progressive cavity pumps for various applications.

High cost of deployment & maintenance is expected to hinder growth of the global progressing cavity pump market. By design, progressive cavity pumps have always been considered a high wearing item with maintenance costs exceeding most other pump designs. These pumps have lower operating and capital costs, which makes them more cost-effective and efficient, but the cost of deployment & maintenance is high, which in turn is expected to restrain growth of the global progressing cavity pump market.

Figure 2. Global Progressing Cavity Pump Market Share (%), by Power Rating, 2022

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Global Progressing Cavity Pump Market Segmentation:

The global progressing cavity pump market report is segmented into Power Rating, End-User Vertical, and Geography.

Based on Power Rating, the market is segmented into Up to 50 HP, Between 51 to 150 HP, and Above 150 HP. Out of which, Up to 50 HP Segment is expected to dominate the global progressing cavity pump market during the forecast period and this is attributed to the rising demand for progressing cavity pumps from various end-use industries. Up to 50 hp progressing cavity pumps are feasible in handling tough pumping applications, and thus, there is an increase in demand for progressing cavity pumps from various end-use industries.

Between 51 to 150 HP Segment is also expected to witness robust growth in the near future and this is owing to the increase in demand for progressing cavity pumps. 51-150 Hp pumps offer various advantages such as less floor space and high performance, which allows them to be utilized in large number of end-user industries. They are more suitable in oil & gas, food & beverages, and water & wastewater treatment industries.

Based on End-User Vertical, the market is segmented into Water and Wastewater, Oil and Gas, Chemicals and Petrochemicals, Food and Beverage, and Other End-user Verticals. Out of which, Water and Wastewater Segment is expected to dominate the market over the forecast period and this is attributed to the increasing demand from water and wastewater management infrastructure industry across the world. These pumps are designed for transporting abrasive and highly viscous fluids in wastewater streams.

Oil and Gas Segment is also expected to witness significant growth in the near future and this is owing to the increase use of progressing cavity pumps in oil & gas industry for oil recovery and other upstream processes. Heavy oil or extra-heavy oil usually require special production techniques to overcome their high viscosity, and progressing cavity pumps are designed to manage extremely difficult pumping applications and high viscous fluids.

Global Progressing Cavity Pump Market: Key Developments

In September 2020, SEEPEX GMBH announced the launch of a fully automatically adjustable   progressive cavity pump SCT AutoAdjust. The pump is automatically adjusted to the optimal operating point - simply with one click from the control room or locally on site through the SEEPEX Pump Monitor via the app.

In September 2020, PCM Group announced the development of a new digital application, Hello PCM, which is accessible via QRcode stuck on the pumps, allowing access to various technical information helping in installing and maintain PCM equipment.

Global Progressing Cavity Pump Market: Key Companies Insights

The global progressing cavity pump market is highly competitive. This is attributed to the rise demand for progressing cavity pumps form various end-use industries, as a result, players in the market are focusing on launching novel products in the market.

Some of the key players in the global progressing cavity pump market are ChampionX, Seepex Inc., Halliburton Company, PCM Group, Xylem Inc., Schlumberger Limited, Weatherford International PLC, NETZSCH Group, and National-Oilwell Varco Inc., among others.

*Definition: A progressive cavity pump is a type of positive displacement pump designed to manage extremely difficult pumping applications and high viscous fluids. It is a versatile pump that can be utilized in a variety of applications. They are feasible in handling tough pumping applications, and thus, there is an increase in demand from various end-use industries.