Progressive Cavity Pump Market size is poised to surpass USD 6 Billion by the end of 2035, growing at a CAGR of 7% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of progressive cavity pump was over USD 2 Billion. The growth of the market can be attributed to the rising production of sewage in the world. The higher sewage volume increases the need for treating it, which in turn necessitates the use of professing cavity pumps to move and manage the increased sewage volume. Globally, 380 billion m3 of waste from municipalities is generated each year. The flow of wastewater is anticipated to rise by 24% and 51% by 2030 and 2050, respectively.
In addition to these, factors that are believed to fuel the market growth of progressive cavity pumps are the rising production of chemicals. Progressive cavity pumps maintain a consistent flow rate and pressure of chemicals and petrochemicals, therefore growing manufacturing of these chemicals will increase the need for pumps for efficient transfer.
Growth Drivers
Challenges
|
Base Year |
2022 |
|
Forecast Year |
2023-2035 |
|
CAGR |
~7% |
|
Base Year Market Size (2022) |
~ USD 2 Billion |
|
Forecast Year Market Size (2035) |
~ USD 6 Billion |
|
Regional Scope |
|
Power Rating (Up-to 50 HP, 51-150 HP, Above 150 Hp)
The up-to 50 HP segment is estimated to hold 47% share of the global progressive cavity pump market in the year 2035. The growth of the segment can be attributed to the rising use of progressive capacity pumps in various industries including oil and gas, chemical, and wastewater treatment plants. There are different tough applications in all these industries, the pump rate of up to 50 HP is most suitable for these applications and this increases the demand for the segment.
Application (High Liquid Viscosity, Varied Flow, Sheer Sensitive Liquid, Liquid Containing Abrasive Solids)
The high liquid viscosity segment in the progressive cavity pump market is expected to garner a significant share of around 40% in the year 2035. The progressing cavity pump is highly efficient in transferring liquids of high viscosity in different industries, such as power, oil & gas, paper and pulps, and others. For instance, power generation usually requires coal water slurry, which is a highly viscous liquid, and thus increased the need for progressing cavity pumps for pulling this slurry from one point to another.
Our in-depth analysis of the global market includes the following segments:
|
Power Rating |
|
|
Application |
|
|
Pumping Capacity |
|
|
End User |
|
APAC Market Forecast
The progressive cavity pump market in Asia Pacific is projected to be the largest with a share of about 37% by the end of 2035. The growth of the market can be attributed majorly to the increasing salinity of groundwater in various countries of the Asia Pacific region. Previously, saltwater would seep 30-50 km inland. It is currently capable of reaching locations more than 100 km from the coast. The salinity in the affected areas has almost tripled since the 90s. Moreover, Asia is a land of agricultural activities, and the increasing salinity in water is also affecting the growth of the crops. The salinity has affected the 1.5% of the annual rice yield of Vietnam which is worth USD 455 million.
North American Market Statistics
The North America progressive cavity pump market is estimated to be the second largest, registering a share of about 26 % by the end of 2035. The growth of the market can be attributed majorly to the advancement in pump technology, such as the development of more durable and reliable materials, improved designs, and enhanced sealing mechanism. Besides this, the growing production of electricity and demand for fossil for producing more electricity is also expected to boost the growth of the market in the region.
Author Credits: Rushikesh, Richa Gupta
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?