The global progressive cavity pump market is growing at a fast pace owing to driving factors such as increasing demand from water and waste-water industry due to its characteristic of handling high viscosity fluid. Moreover, increasing use in power generation due to low cost is likely to drive the demand for progressive cavity pump in the near future. High to moderate maintenance cost is projected to restrain the growth of progressive cavity pump market.
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Market Trends
- A progressive cavity pump has one shaft that is marginally twisted in the shape of a screw and is housed in a pumping chamber that is usually rubber lined.
- Progressive cavity pumps are used for flow metering and pumping of viscous and shear sensitive materials.
- Progressive cavity pumping offers continuous, pressure-stable, gentle, and low-pulsation conveyance of fluids.
- Progressive cavity pumps require less NPSH and are widely used with abrasive and corrosive liquids.
- Based on the pumping capacity, progressive cavity pumps can be segmented into Up to 500 GPM, 501 GPM – 1000 GPM and Above 1000 GPM
- Progressive cavity pumps are used for artificial lift in oil & gas industry.
- Progressive cavity pumps are used for pumping slurries, a fluid containing suspended particles, and highly viscous fluids.
- The main market driver for global progressive cavity pumps market is the rapid development and modernization of industries.
- Increase in several municipal waste treatment plants will also positively influence the demand for progressive cavity pumps.
- The fault-finding market restraint is an intricate design and maintenance procedure of the progressive cavity pumps.
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Key Benefits of the Report
• This study presents the analytical depiction of the progressive cavity pump industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the progressive cavity pump market share.
• The current market is quantitatively analyzed from 2020 to 2030 to highlight the progressive cavity pump market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed progressive cavity pump market analysis based on competitive intensity and how the competition will take shape in coming years.
COVID-19 Impact analysis
With the outbreak of COVID-19, the market has witnessed a slump in demand from various enterprises operating in the end-user industries. Under such constrained circumstances, these enterprises have seen a vast decline in revenue and profits, leading to a significant cut down of employees and workers, resulting in an overall loss to industrial production activities.
However, players, like Seepex Inc., have witnessed an increase in orders for spare parts. The company has also found alternative supply channels, components within their modular, and varied pump offerings. Governments of several countries across the globe have imposed stringent lockdowns to limit the spread of the coronavirus. Movement of individuals and economic activities, related to goods and services, have come to a halt because of lockdowns. Supply could not adjust to the decline in consumption. This resulted in considerable build-up of crude oil in storage.
Therefore, midstream activities (consist of transport of crude oil to the refineries) were hampered. Progressing cavity pumps are extensively utilized in pumping stations, which are part of infrastructure of midstream activities. Thus, unprecedented decline in demand has created difficulties for the upstream sector in regions that have unfavorable production economies, which in turn has hampered the whole supply chain of the oil & gas industry.
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