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“The progressing cavity pump market is projected to grow at a CAGR of 6.24%, from 2018 to 2023.”
The progressing cavity pump market is projected to grow from an estimated USD 3.02 billion in 2018 to USD 4.08 billion by 2023, at a CAGR of 6.24%, from 2018 to 2023. Increasing investments in modernizing water & wastewater infrastructure, infrastructure development, and suitability for handling high viscosity fluids is driving the market for progressing cavity pumps across the world.
“The water & wastewater management segment is expected grow at the fastest rate of the progressing cavity pump market, by end-user, during the forecast period.”
The water & wastewater management segment of the global progressing cavity pump market is expected to grow at a fast pace during the forecast period. This can be attributed to rapid growth in industrialization and urbanization across the world. Increasing use of progressing cavity pumps in industries such as water & wastewater, oil & gas, process industries, chemicals, and mining due to their high efficiency, wide capacity range, flow rate, and ease of operation and maintenance would drive the market to grow at fastest rate during the forecast period.
“North America: The largest market for progressing cavity pump”
North America is the largest market for progressing cavity pumps, followed by Asia Pacific and Europe. The progressing cavity pump market would be mainly driven by the industrial demand from the US market, particularly from the water & wastewater, chemical, and oil & gas sectors. Aging power & water infrastructure and the reshoring of manufacturing in the US, growing chemicals and food & beverage sector in Canada are likely to positively impact the progressing cavity pump market. Moreover, focus on developing new water & wastewater infrastructure, especially in the US would aid in increasing the demand for progressing cavity pump in this region.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects.
The distribution of primary interviews is as follows:
- By Company Type: Tier 1 - 60%, Tier 2 - 30%, and Tier 3 - 10%
- By Designation: C-Level - 60%, D-Level - 30%, Others - 10%
- By Region: North America - 35%, Europe - 20%, Asia Pacific - 20%, South & Central America - 15%, Middle East & Africa - 10%
Note: The tier of the companies has been defined on the basis of their total revenue; as of 2016: Tier 1 = >USD 5 billion, Tier 2 = USD 1 billion to USD 5 billion, and Tier 3 =
The report provides a picture of the progressing cavity pump market across the pump industry and regions. It aims at estimating the market size and future growth potential of the market across different segments such as power rating, end-user, and region. Furthermore, the report includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.
For the purpose of this report, the market has been segmented on the basis of power rating, end-user, and region, with a focus on industry analysis (industry trends), market ranking analysis of the top players, supply chain analysis, and company profiles, which together comprise and evaluate the basic views on the competitive landscape, emerging and high-growth segments of the progressing cavity pump market, high-growth regions, and market drivers, restraints, and opportunities.
The report provides insights on the following pointers:
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the progressing cavity pump market
Market Development: Comprehensive information about lucrative emerging markets; the report analyzes the markets for progressing cavity pumps across regions Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the global progressing cavity pump market
- The report identifies and addresses key markets for the deployment of progressing cavity pumps in various industries, which would help manufacturers review the growth in demand.
The report helps solutions providers understand the pulse of the market and provide insights into drivers, restraints, and challenges. The report will help key players understand the strategies of their competitors better and will help in making strategic decisions.