Progressing cavity pumps market is forecast to grow at a significant rate during the forecast period. These pumps are based on a positive displacement principle and are primarily designed for abrasion resistance in difficult pumping applications. They offer reliable, stable and efficient performance for a broad range of liquids and solids. The design of progressing cavity pumps can be optimized to achieve the best wear performance available for a defined size. The wear optimization of the progressing cavity pump is achieved by geometric design for minimum internal fluid velocities and by selecting proper materials of construction.
The major factors boosting the global progressing cavity pumps market include an emerging focus on the wastewater treatment process and rising demand for artificial lift systems. The US is one of the major countries working in wastewater treatment. As per the 2017 Infrastructure Report Card, there are nearly 14,748 wastewater treatment plants in the US that protect public health and the environment. Nearly 240 million Americans which are nearly 76% of the population rely on these treatment plants. In January 2016, the US Environmental Protection Agency (EPA) estimates $271 billion is required for wastewater infrastructure over the next 25 years.
Browse the full report description of "Progressing Cavity Pumps Market, by Stage Type [Single Stage (90-psi), Double Stage (180-psi), Four Stage (360-psi), Eight Stage (720-psi rated), by Application (Oil & Gas, Chemical, Food & Beverage, Water & Wastewater, Other) – Global Trends, Size, Share, Growth, Industry Analysis and Forecast, 2019-2025" at https://www.omrglobal.com/industry-reports/progressing-cavity-pumps-market
Another major factor for the growth of the market is the rising production of petroleum products across the globe, where progressing cavity pumps find the highest application. As per the US Energy Information Administration, petroleum products production in 2018 was 100 million barrels per day were as compared to 98.1 million barrels per day. A major restraint to the market includes the availability of an alternative to the progressing cavity pumps. At various applications, electrical submersible pumps, sucker rod pumps, and centrifugal pumps can be used as alternative pumps. Another major factor that can restrain the market in the future includes the high adoption of the electric vehicle.
Automotive is the largest sector to consume fossil fuel. Due to rising environmental concerns, the government is introducing new rules and regulations to reduce the usage of fossil fuels in the vehicle. For instance, Norway is going to ban the sale of IC engine vehicles from 2025, where some fellow countries such as Denmark, will ban the sale of IC engine vehicle by 2030. Moreover, countries such as China, India are opting for electric vehicles with double-digit growth every year. The growth in electric vehicle sales will result in a decline of the need for petroleum products and hence so need for progressing cavity pumps.
Progressing Cavity Pumps Market Segmentation
By Stage Type
By Application
Progressing Cavity Pumps Market – Segment by Region
North America
Europe
Asia-Pacific
Rest of the World