Progressing cavity pumps market is expected to grow at a significant rate during the forecast period 2019-2025. Progressing cavity (PC) pumps are based on a positive displacement principle and is primarily designed for abrasion resistance in difficult pumping applications. It can be used while the pumping application is not appropriate with the use of a centrifugal pump. For instance, PC pumps are suitable when the liquid contains higher viscosity or thickness, as compared to water. In terms of PC pumps, the volumetric and mechanical efficiency goes up while the viscosity of liquid increases and produces more flow. Hence, it is ideal for liquids with higher viscosities, such as oil & gas applications.
The major factors propelling the demand for the market include emerging focus on water and wastewater treatment process and rising oil & gas production. For instance, according to the U.S. Energy Information Administration (EIA), in December 2017, the oil production in the US reached 10.04 million b/d (barrels per day) and 10.96 b/d in July 2018. PC pumps are considered as an optimal technology for water and oil separation and prevent the formation of emulsions. It can successfully move several fluids that are used in oil & gas production and transportation. For instance, they transfer multiphase fluids from the well and transmit those fluids to collection stations. In addition, they move crude oil from onsite storage tanks to offsite storage facilities. Other PC pumps application in oil & gas processes include oil skimming, polymer feeding, refinery wastewater transfer, corrosion inhibitor injection, Induced gas flotation (IGF) skimming, closed drains pumping and so on. Due to its wide range of beneficial applications in the oil & gas industry and adoption of artificial lift method is primarily driving the demand for PC pumps in oil & gas applications.
The global PC pumps market is segmented on the basis of the stage type and application. Based on stage type, the market is further classified into a single stage, double stage, four stages and eight stages. Moreover, based on application, the market is further classified into oil & gas, chemical, food & beverage, water & wastewater, and others. In the chemical industry, PC pumps are an optimal solution to move high viscous, toxic materials and highly abrasive materials with minimal wear rather than other positive displacement pumps. It is also an ideal option while pumping shear sensitive materials since these pumps are one of the lowest shearing pumps present on the market. Hence, PC pumps are used to transfer and dosing for polymers and other chemicals.
Geographically, the global progressing cavity pumps market is segmented into four major regions, such as North America, Europe, Asia-Pacific and rest of the world (RoW). The crucial factors contributing to the growth of the market in North America include rising oil & gas production and shifting focus towards water and wastewater treatment. Moreover, Asia-Pacific is estimated to witness optimistic growth due to rapid industrialization and the presence of major chemical manufacturers in the region.
Some crucial players in the market include National Oilwell Varco (NOV), Schlumberger Ltd., PCM Technologies SAS, Halliburton, and General Electric Co. These companies are adopting several strategies, such as joint venture, merger and acquisitions, geographical expansion, partnership and collaborations and product launches to expand market share. For instance, in August 2018, PCM Technologies SAS and Bolland y Cía SA signed a joint venture agreement for the formation of a joint company named PCM BOLLAND S.A. The objective of this agreement is to become a reference in offering artificial lift progressing cavity pumps systems and related services to the oil & gas market in Argentina.
Research Methodology:
The market study of the global progressing cavity pumps market is incorporated by extensive primary and secondary research conducted by the research team at OMR. 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, 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 in our reports.
Secondary Sources Include:
- Financial reports of companies involved in the market.
- Authentic public databases such as the US Energy Information Administration and the European Environment Agency.
- Whitepapers, research-papers, and news blogs.
- Company websites and their product catalog.
The report provides in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.
Market Segmentation:
- Global Progressing Cavity Pumps Market Research and Analysis by Stage Type
- Global Progressing Cavity Pumps Market Research and Analysis by Application
The Report Covers:
- Comprehensive research methodology of the global progressing cavity pumps market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- Exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the global progressing cavity pumps
- Insights about market determinants which are stimulating the global progressing cavity pumps market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
