Dublin, Oct. 12, 2022 (GLOBE NEWSWIRE) -- The "Global Progressing Cavity Pump Market by Pumping Capacity (Upto 500 GPM, 501-1000 GPM, Above 1000 GPM), Power Rating (Upto 50 HP, 51-150 HP, Above 150 HP), End-user (Oil & Gas, Water & Wastewater, Others), Product Type, Stage Type, and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global progressing cavity pump market is anticipated to grow from an estimated USD 2.2 billion in 2022 to USD 2.8 billion in 2027, at a CAGR of 5.3%
The market has a promising growth potential due to increased demand for progressive cavity pumps in water & wastewater treatment, chemicals, and infrastructure industries. The rising investments in wastewater treatment plants in developing countries in moving towards sustainability goals is creating new opportunities for the providers of progressing cavity pumps during the forecast period.
501-1,000 GPM: The second fastest-growing segment of the progressing cavity pump market, by pumping capacity
501-1,000 GPM pumps widely used in wastewater treatment plants which are able to convey low to high viscous fluids. The rise in the investments in the wastewater treatment plants in developing regions such as Asia pacific and South America which are increasing measures towards sustainability is fuelling the demand for progressive cavity pumps with pumping capacity between 501-1,000 GPM during the forecast period.
The Oil & gas segment is anticipated to be the second largest progressing cavity pump market by end-user industry, during the forecast period
The oil & gas segment is expected to have the second largest market share during the forecast period. Progressing cavity pumps in oil & gas explorations benefit a lot in the pumping the underneath fluids especially in the enhanced oil recovery process. The growing investments in the oil & gas explorations across countries is driving the demand for progressive cavity pumps in the Oil & gas segment.
North America is expected to account for the second-largest market size during the forecast period
North America is expected to be the second largest and fastest-growing market due to the growing investments in various end user industries such as oil & gas, water & wastewater treatment plants, food & beverages. New policies on treating wastewater and enhancing water infrastructure in US is propelling the demand for progressing cavity pumps in US.
The market is dominated by a few major players that have a wide regional presence. The leading players in the progressing cavity pump market are NOV (US), NETZSCH (Germany), SEEPEX (Germany), CIRCOR International (US), Schlumberger (US), PCM (France).
| Report Attribute | Details |
| No. of Pages | 223 |
| Published | July 2022 |
| Forecast Period | 2022 - 2027 |
| Estimated Market Value (USD) in 2022 | $ 2.2 Billion |
| Forecasted Market Value (USD) by 2027 | $ 2.8 Billion |
| Compound Annual Growth Rate | 5.3% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/wtesei
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