European progressing cavity pumps market is expected to witness a significant growth with the CAGR of 6% during the forecast period. Progressing cavity pumps are based on a positive displacement principle and are primarily designed for abrasion resistance in difficult pumping applications for a broad range of liquids and semi-solids such as crude oil, chemicals, slurry and so on. The major factors boosting the growth of the progressing cavity pumps market include inclination towards wastewater treatment process and rising demand for artificial lift systems.

Another major factor for the growth of the market includes the rising production of petroleum products, globally, where progressing cavity pumps find the highest application. As per the US Energy Information Administration, petroleum products production in 2018 was 100 million oil barrels per day were as compared to 98.1 million oil barrel per day. A major restraint to the market includes availability of alternative to the progressing cavity pumps. At various applications, electrical submersible pumps, sucker rod pumps, and centrifugal pumps can be used as an alternative to the progressing cavity pumps.

European progressing cavity pumps market is segmented on the basis of stage type and application. Based on the stage type, the market is segmented into single stage (90-psi), double stage (180-psi), four stages (360-psi), and eight stage (720-psi rated). Based on the application, the market is segmented into oil & gas, chemical, food & beverage, water & wastewater, and others.

Some of the major players operating in the European progressing cavity pumps market includes National Oilwell Varco, Halliburton, Baker Hughes, (A GE Company), and others. These players adopt various organic and inorganic growth strategies such as merger and acquisition and product launch to strengthen their presence in European market.

Research Methodology

The market study of the European progressing cavity pumps market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include:

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for existing companies and new entrants into the market, potential investors and venture capitalists, government organizations, and various end-user industries for overall market analysis and competitive analysis. The report provides an in-depth analysis of market size, products offered by the company and future market opportunities. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for making better business decisions. 

Market Segmentation:

1. European Progressing Cavity Pumps  Market Research and Analysis by Stage Type

2. European Progressing Cavity Pumps  Market Research and Analysis by Application

The Report Covers:

• Comprehensive research methodology of European progressing cavity pumps market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting European progressing cavity pumps market.
• Insights about market determinants which are stimulating European progressing cavity pumps market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.