Progressing Cavity Pumps Market: Introduction
A progressing cavity pump is a type of positive displacement pump, which is also known as a progressive cavity pump. Progressing cavity pumps transfer fluids through the pump by means of a sequence of small, fixed-shape, discrete cavities. This leads to the volumetric flow rate being proportional to the rotation rate and a low level of shearing being applied to the pumped fluid. Progressing cavity pumps are used in fluid metering and pumping of viscous or shear-sensitive materials. Progressing cavity pumps are installed for handling viscous fluids at high flow rates or in applications wherein high discharge pressure with a smooth flow is required.
Global Progressing Cavity Pumps Market: Segmentation
Based on power rating, the progressing cavity pumps market has been segmented into up to 50 HP, 51 HP–150 HP, and above 150 HP. The up to 50 HP segment is expected to lead the progressing cavity pumps market during the forecast period. Increase in infrastructure development and rise in the demand for industrialization worldwide are driving the progressing cavity pumps market. In terms of end-user, the progressing cavity pumps market has been divided into oil & gas, water & wastewater management, food & beverages, chemical & petrochemical, and others. The water & wastewater management segment is expected to witness significant demand for progressing cavity pumps during the forecast period. The water & wastewater management industry witnesses rising need to reduce life cycle costs and improve operating margins. This is anticipated to boost the water & wastewater management segment of the progressing cavity pumps market in the near future. Increasing demand for fresh water, liquids with higher viscosities, and clean environment is likely to drive the progressing cavity pumps market between 2018 and 2026.
Global Progressing Cavity Pumps Market: Overview
Suitability progressing cavity pumps for handling high-viscosity fluids, increasing demand from water & wastewater management and infrastructure industries in Asia Pacific are major drivers of the progressing cavity pumps market in this region. Stagnancy in the oil & gas industry and moderate-to-high maintenance costs are restraining factors for the progressing cavity pumps market. Increasing investments in water and wastewater treatment plants in developing countries are presenting growth opportunities for the progressing cavity pumps market. Increasing competition from the unorganized sector and potential substitutes such as sucker rods and centrifugal pumps will challenge the progressing cavity pumps market during forecast period.
Global Progressing Cavity Pumps Market: Regional Outlook
In terms of region, the global progressing cavity pumps has been segmented into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa. The increased demand from the water & wastewater management sector and significant demand from other sectors such as food & beverages and chemical & petrochemical in North America are expected to drive the market in the region during the forecast period. The progressing cavity pumps market in Asia Pacific and Europe is primarily driven by increasing industrialization and rising investments in the water and wastewater treatment infrastructure in these regions. In Europe, implementation of large industrial and commercial projects and refurbishment of aging infrastructure are likely to continue to generate demand for progressing cavity pumps.
Global Progressing Cavity Pumps Market: Key Players
Key players operating in the global progressing cavity pumps market are Schlumberger Limited, National Oilwell Varco, Xylem NETZSCH, PCM, Weatherford, Halliburton, Borets, and SEEPEX Inc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.