According to a new market research report, the global progressing cavity pump market is projected to reach USD 2.8 billion by 2027 from an estimated USD 2.2 billion in 2022, at a CAGR of 5.3% during the forecast period. The rising sanitation services and progressing towards global sustainability goals is increasing the investments in the water & wastewater treatment plants in developing countries. And, also increase in the exploration activities in the oil & gas industry, demand for petrochemicals products, and precision dosing of additives in food and beverage industries are the key factors driving the market growth.
Key Market Players
The progressing cavity pump market is served by a mix of large international players with operational presence across the globe and local players commanding a strong supply network in the domestic market. The leading players in the global progressing cavity pump market include NETZSCH (Germany), SEEPEX (Germany), NOV (US), CIRCOR International (US), Schlumberger (US), PCM (France).
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There have been advancements in the progressing cavity pumps design to increase the reliability and ease of maintenance. The new features in the design of stator like the spiral stator technology has made the pump rigid and operate with minimized spill-over and wearing. Apart from the design features, there is a shift in the technology towards digital solutions in integrating the pumping systems with digital technology through automation and control.
The water & wastewater segment is expected to be the fastest-growing market share during the forecast period. The high performance of the progressive cavity pumps when it comes to handling sludges, abrasive materials, solid waste in the treatment plants in a non pulsating mode is fuelling the growth of progressing cavity pump market.
The up to 50 hp segment, by power rating, is expected to have the largest market share during the forecast period. As these pumps maintain a consistent flow in the pumping operation. The speed at which the viscous fluids needs to be pumped is dependent on the power rating of the pump. 50 hp power rating is a common power rating suitable for handling fluids in wastewater treatment plants, food & beverages, chemicals & petrochemicals, mining, paper & pulp, construction & buildings. Thus attributing to the largest share in power rating segment in the progressive cavity pump market.
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The increasing in the investments in food & beverage industry create ample opportunities for progressive cavity pump manufacturers. The operations in this industry can range from packaging to preparing, transporting, and serving food or beverages. For these operations in food and beverage industry, rotary lobe and centrifugal pumps are typically the primary choices; however, certain activities demand a progressive cavity pump, such as conveying highly viscous material and applications requiring constant non-pulsing flow. There has been an increase in CAPEX which is due to the rise in the level of automation in the food and beverage processing industry and the need to address the food demands of the burgeoning population. Thus, providing ample opportunities for progressing cavity pump manufacturers.
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