The key drivers for the progressing cavity pump market include use of PROGRESSING CAVITY PUMPs in enhanced oil recovery and upstream processes and Intensifying need for water & wastewater management in developed nations.
New York, March 19, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Progressing Cavity Pump Market by Pumping Capacity, Power Rating, End User And Region - Global Forecasts to 2026" - https://www.reportlinker.com/p05391644/?utm_source=GNW
The up to 500 GPM segment by pumping capacity, is the largest contributor in the progressing cavity pump during the forecast period
Progressing cavity pumps offering pumping capacity in the range of 0 to 500 GPM capture the largest share of the global PROGRESSING CAVITY PUMP market.In 2020, the segment captured more than 65% of the total market owing to the versatility in operation offered by these pumps.
In addition to compact size, these pumps require less power-consuming electric or hydraulic motors that are favored across the world for lower operational cost as well as high efficiency.Lower operational cost is also one of the prime factors due to which end-use industries prefer to use these motors over their more powerful counterparts.
The food & beverages industry is among the top consumers of these pumps due to the relatively low requirement of flow rate for fluid processing.
The water & wastewater management end user segment is expected to be the largest contributor during the forecast period
Water & wastewater is the largest end user of PROGRESSING CAVITY PUMPs among all the industries.The need to reduce life cycle costs and improve operating margins is anticipated to boost the usage of PROGRESSING CAVITY PUMP units in the water & wastewater industry for the processing of polymers, waste, sludge, and flocculants.
Intensifying demand for freshwater, handling liquids with higher viscosities, and a clean environment would also propel the need for water and wastewater management in the future, thereby creating opportunities for the usage of PROGRESSING CAVITY PUMPs.The demand for these pumps is likely to rise from new plant installations, unit expansions, and unit upgrades.
According to the UN, the world’s population will increase from 7.2 billion in 2013 to 8.1 billion by 2025. Hence, factors such as population growth, especially in urban areas, industrial development, increasing emphasis on wastewater treatment, international commitments and targets, and government policies would facilitate the growth of the water & wastewater industry. Moreover, by 2030, the UN plans to achieve universal and equitable access to safe and affordable drinking water and adequate and equitable sanitation for all. This calls for huge investments in the water & wastewater sector. This, in turn, would push the demand for PROGRESSING CAVITY PUMPs during the forecast period.
Asia Pacific is expected to dominate the global Progressing Cavity Pump market
The Asia Pacific region was the largest market for progressing cavity pumps in 2020 and accounted for a share of 35.7% of the global market. The PROGRESSING CAVITY PUMP market in Asia Pacific has been studied for China, Australia, India, and Japan. The other Asian countries considered in the study are Thailand, Malaysia, the Philippines, Singapore, and South Korea. According to the IMF, the economic outlook for Asia Pacific remains strong, and the region continues to be the most dynamic in the global economy. The region has many top global economies, such as China, India, and Japan, and is expected to grow at 5.6% till 2022. The major end users of progressing cavity pumps in the region include water & wastewater treatment, oil & gas, and food & beverages industries. The market in this region will be largely driven by China and India—countries exhibiting fast-paced economic expansion and healthy industrial growth rates. The market in Southeast Asian countries, such as Malaysia and Thailand, is at various stages of development. The government of Malaysia aims to serve clean water to 99% of the population by 2022 from 95.5% in 2015. Such targets are likely to reflect favorably on the PROGRESSING CAVITY PUMP market. According to the Indian Ministry of Finance, the country plans to invest USD 646 billion by 2022 in various areas of development. About 70% of the investment would be made in power, roads, and urban infrastructure.
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 I–61%, Tier II–19%, and Tier III–20%
• By Designation: C-Level–56%, Director Level–30%, and Others–14%
• By Region: Asia Pacific–33%, North America–27%, Europe–20%
Note: Others include sales managers, marketing managers, product managers, and product engineers.
The tier of the companies is defined on the basis of their total revenue as of 2017—Tier 1: USD 1 billion, Tier 2: from USD 1 billion to USD 500 million, and Tier 3:
The global PROGRESSING CAVITY PUMP market is dominated by leading players that have an extensive regional presence. The leading players in the PROGRESSING CAVITY PUMP market include Xylem (US), Weir (UK), Sulzer (Switzerland), Roto Pumps (India), EBARA Corporation (Japan), Wilo (Germany), ITT Corporation (US), NETZSCH (Germany), CIRCOR International (US), SEEPEX (Germany).
The report defines, describes, and forecasts the PROGRESSING CAVITY PUMP market, by pumping capacity, power rating, end-user, and region.It also offers detailed qualitative and quantitative analyses of the market.
The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges.It also covers various important aspects of the market.
These include the analysis of the competitive landscape, market dynamics, market estimates, in terms of value, and future trends in the PROGRESSING CAVITY PUMP market.
Key benefits of buying the report:
The report will help market leaders/new entrants in this market in the following ways:
1. This report segments the global PROGRESSING CAVITY PUMP market comprehensively and provides the closest approximations of the revenues for the overall market and the sub-segments across different verticals and regions.
2. The report helps stakeholders understand the pulse of the PROGRESSING CAVITY PUMP market and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to understand competitors better and gain more insights to better their position in their businesses. The competitive landscape section includes the competitor ecosystem, new product development, agreement, and acquisitions.
Reasons to buy the report:
The report will help market leaders/new entrants in this market by providing them with the closest approximations of the revenues for the overall PROGRESSING CAVITY PUMP market and the sub-segments.This report will help stakeholders to understand the competitive landscape and gain more insights and position their businesses and market strategies in a better way.
The report will also help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
Read the full report: https://www.reportlinker.com/p05391644/?utm_source=GNW
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