Global Progressive Cavity Pumps Market Insight:
Market Research Future (MRFR), in its latest report on the global Progressive Cavity Pump Market 2020, reveals factors that are likely to impact the market size. Across 2019 to 2025, progressive cavity pump market is expected to rise at about 6.84% CAGR. The progressive cavity pump market can value at USD 4.29 Bn by 2025.
Top Market Players:
The global progressive cavity pump manufacturers include Halliburton (US), Dover (US), Xylem (US), National Oilwell Varco (US), ITT (US), Schlumberger (US), PCM (US), Weatherford (US), Netzsch (Germany), Seepex (US), Moyno (US), Circor International, Inc. (US), Synopumps (India), and Sydex (Italy) are some reputed names in the cavity pump manufacturing market that are listed by MRFR.
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The increase in net worth of the progressive cavity pumps global market across the analysis period can be attributed to the implementation of rural water infrastructure development projects. The decline in the quality of drinking water required immediate solutions. Governments are funding projects concerning improvement of the quality of drinking water. This is expected to benefit the market. The utility served by progressive cavity pump is unparalleled. Hence, despite their complex design, hey are gaining high popularity. The rise in the number of progressive cavity pumps is another chief factor that can support the expansion of the global market. The increased production of 50 HP progressive cavity pump due to their high sales can add momentum to the market in the years to come.
Segmentation of Market: Progressing Cavity Pumps
The segment analysis of the Progressive Cavity Pump Industry is done by end-user and power ratings.
The power rating-based segment of the progressive cavity pump global market are 51-150 hp, 50 hp, and above 150 hp. The 50 HP segment is likely to secure the highest share of the global market due to development of infrastructure.
The end-user-based segment of the progressive cavity pump global market are oil & gas, water & wastewater, chemical & petrochemical, and food & beverage among more. The water & wastewater segment can thrive at the highest CAGR in the forecast period owing to rise in the demand for freshwater. In addition, increased application of progressive cavity pumps for sludge and waste treatment can also support the expansion of the market.
Trends of the Global Progressive Cavity Pump Market is studied across Asia Pacific, South America, Europe, North America, and the MEA.
North America progressive cavity pump market is expected to rise at a considerable pace across the market research span. The escalation of funds for the execution of oil & gas and water & wastewater projects across different regions can support the regional market in the years to come. Governments in North America are invested in different water and wastewater projects that are expected to support the expansion of the progressive cavity pump market in the years ahead. Renowned regulatory organizations are funding projects by renowned companies for the improvement of rural water infrastructure. The growing demand for progressive cavity pump across different sectors can also support the expansion of the market in the region.
In Asia Pacific, the rise in industrial application of progressive cavity pump, along with rapid increase in industries can support the regional market rise. In addition, the economic backbone of APAC is growing stronger, which, in turn can support the expansion of the progressive cavity pump market. The expansion of population base is boosting industrial dynamics that can contribute to the expansion of the regional market.
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