Progressive Cavity Pump Market Trends

Growth Drivers

Growing Investment in Oil & Gas Exploration- By 2030, the globe expects a 13% increase in current capital investment in oil and gas exploration. It will be majorly owing to the rising cost of oil and gas. The assistance of higher capital will aid the exploration of more challenging reservoirs, the progressive cavity pump helps in pulling heavy fluid like oil to the surface.
Rising Number of Smart Cities- There are around 250 smart city projects from 178 cities worldwide, with most of them centered around government and energy activities, next to initiatives for transportation, building, and water. These pumps contribute to optimizing resource distribution, improving infrastructure management, and enhancing overall sustainability within these smart cities and urban environments.
Increasing Need for Enhanced Oil Recovery – The oil becomes even more viscous after undergoing through enhanced oil recovery, such as CO2 injection and waterflooding. Microbial enhanced oil recovery (MEOR) can be increased by up to 15% with enhanced oil recovery. In such scenarios, the pumps are suitable for handling viscous fluid and optimizing production.

Challenges

High Sensitivity Fluid Characteristics – The performance of progressive cavity pumps can be affected by variations in fluid viscosity, consistency, and other characteristics. This limits their suitability for some applications
Limited Awareness has Limited the Adoption
Strict Environmental Regulations

Progressive Cavity Pump Market: Key Insights

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	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Frequently Asked Questions (FAQ)

Increasing demand for water treatment and higher exploration of oil are the major factors driving the market growth.

The market size of progressive cavity pump is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2023 â€“ 2035.

The major players in the market are ChampionX Corporation, Halliburton Company, PCM Group, Weatherford International PLC, National-Oilwell Varco Inc., Xylem Inc., NETZSCH Group, Circor International, Vogelsang GmbH & Co. KG, and Nova Rotors Srl

The up to 50 HP segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

Progressive Cavity Pump Market Trends