DUBLIN--(BUSINESS WIRE)--The "Progressing Cavity Pump Market by Power Rating (Up to 50 hp, 51-150 hp, Above 150 hp), End User (Oil & Gas (Application, Well Type), Water & Wastewater, Food & Beverage, Chemical & Petrochemical), Region - Global Trends and Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The progressing cavity pump market is projected to grow from an estimated USD 3.02 billion in 2018 to USD 4.08 billion by 2023, at a CAGR of 6.24%, from 2018 to 2023
Increasing investments in modernizing water & wastewater infrastructure, infrastructure development, and suitability for handling high viscosity fluids is driving the market for progressing cavity pumps across the world.
The water & wastewater management segment of the global progressing cavity pump market is expected to grow at a fast pace during the forecast period. This can be attributed to rapid growth in industrialization and urbanization across the world. Increasing use of progressing cavity pumps in industries such as water & wastewater, oil & gas, process industries, chemicals, and mining due to their high efficiency, wide capacity range, flow rate, and ease of operation and maintenance would drive the market to grow at fastest rate during the forecast period.
North America is the largest market for progressing cavity pumps, followed by Asia Pacific and Europe. The progressing cavity pump market would be mainly driven by the industrial demand from the US market, particularly from the water & wastewater, chemical, and oil & gas sectors. Aging power & water infrastructure and the reshoring of manufacturing in the US, growing chemicals and food & beverage sector in Canada are likely to positively impact the progressing cavity pump market. Moreover, focus on developing new water & wastewater infrastructure, especially in the US would aid in increasing the demand for progressing cavity pump in this region.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Progressing Cavity Pump Market, By Power Rating
7 Progressing Cavity Pump Market, By End-User
8 Progressing Cavity Pump Market, By Region
9 Competitive Landscape
10 Company Profiles
- National Oilwell Varco
- J J Tech
- Roto Pumps
- Nova Rotors
- Baker Hughes, A Ge Company
For more information about this report visit https://www.researchandmarkets.com/research/wrvggj/progressing?w=4