PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1465228
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1465228
The global market for progressing cavity pumps is poised for substantial growth, with a projected trajectory reaching USD 3.6 billion by the year 2029. This represents a noteworthy increase from the estimated value of USD 2.8 billion in 2024, reflecting a steady Compound Annual Growth Rate (CAGR) of 5.0% over the period spanning from 2024 to 2029. The global market for progressing cavity pumps is undergoing significant growth, driven by several key factors that are propelling its expansion on a worldwide scale. Primarily, the surge in industrialization and urban development in emerging economies, combined with ongoing infrastructure projects, is fueling demand for efficient fluid handling solutions across diverse sectors including oil and gas, water and wastewater treatment, food and beverage, chemicals, and mining. Additionally, stringent environmental regulations and increased focus on workplace safety are compelling industries to invest in advanced pumping technologies like progressing cavity pumps, renowned for their superior performance, reliability, and environmental sustainability. Furthermore, technological advancements such as IoT-enabled monitoring systems, energy-efficient designs, and smart pumping solutions are further bolstering market growth by enhancing operational efficiency, reducing downtime, and minimizing energy consumption. Moreover, the expanding applications of progressing cavity pumps across various industries, coupled with their increasing adoption in emerging sectors such as renewable energy and pharmaceuticals, are opening up new avenues for market expansion. With a rising global demand for high-quality, efficient fluid handling equipment, the global progressing cavity pump market is poised for continued growth in the forthcoming years.
Scope of the Report | |
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Years Considered for the Study | 2020-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD Billion) |
Segments | By Power Rating, By Pumping Capacity, By End-user Industry, By Product type, By Stage type |
Regions covered | Asia Pacific, North America, Europe, Middle East and Africa, and South America |
"Up to 50 HP segment, by power rating, to be fastest growing market from 2024 to 2029."
The up to 50 HP segment, categorized by power rating, is poised to emerge as the fastest-growing market segment from 2024 to 2029 due to several key factors driving its accelerated expansion. Primarily, this segment caters to the needs of small to medium-sized operations across various industries, including manufacturing, agriculture, and small-scale processing facilities. The versatility and affordability of pumps within this power range make them highly attractive to a wide range of end-users, prompting increased adoption and driving market growth. Additionally, as industries continue to prioritize efficiency and cost-effectiveness in their operations, the demand for compact, lower horsepower pumps capable of handling a variety of fluids remains strong. Moreover, technological advancements such as energy-efficient designs and IoT-enabled monitoring systems are making pumps in this segment even more appealing by enhancing their performance, reliability, and operational efficiency. Furthermore, emerging trends such as the integration of smart technologies and automation further fuel the growth of this segment by streamlining processes and reducing maintenance requirements. With a growing emphasis on sustainable and eco-friendly solutions across industries, the up to 50 HP segment is expected to witness robust growth as businesses seek efficient fluid handling equipment that aligns with their environmental objectives and operational needs.
"Water & Wastewater Treatment Segment, by end-use industry, to be the largest market from 2024 to 2029."
The Water & Wastewater Treatment segment, classified by end-use industry, is anticipated to emerge as the largest market segment from 2024 to 2029, driven by several key factors that underscore its dominance in the progressing cavity pump market. Firstly, amidst growing concerns about water scarcity and pollution, there is an escalating global focus on enhancing water treatment and sanitation infrastructure. This translates to increased investments in water and wastewater treatment facilities across various regions, thereby driving demand for efficient fluid handling solutions such as progressing cavity pumps. Furthermore, stringent regulatory standards pertaining to water quality and environmental protection further amplify the need for advanced pumping technologies in the water and wastewater treatment sector. Moreover, the expanding population, rapid urbanization, and industrialization contribute to the rising volumes of wastewater generated, necessitating comprehensive treatment processes to mitigate environmental impact. Progressing cavity pumps play a vital role in various stages of water treatment, including sludge handling, chemical dosing, and filtration, owing to their ability to efficiently handle viscous and abrasive fluids.
"Asia Pacific to be largest and fastest growing region in progressing cavity pump market."
The Asia Pacific region is set to emerge as both the largest and fastest-growing region in the progressing cavity pump market, driven by a confluence of factors that underscore its prominence in the industry. Firstly, rapid industrialization and urbanization across countries like China, India, and Southeast Asian nations are fueling substantial demand for efficient fluid handling solutions across diverse sectors such as oil and gas, water and wastewater treatment, food and beverage, chemicals, and mining. This robust industrial growth, coupled with ongoing infrastructure development projects, contributes significantly to the increasing adoption of progressing cavity pumps in the region. Moreover, stringent environmental regulations and a growing focus on workplace safety are compelling industries in the Asia Pacific to invest in advanced pumping technologies like progressing cavity pumps, which offer superior performance, reliability, and environmental sustainability. Additionally, technological advancements such as IoT-enabled monitoring systems, energy-efficient designs, and smart pumping solutions are further accelerating market growth by enhancing operational efficiency, reducing downtime, and minimizing energy consumption.
By Company Type: Tier 1-65%, Tier 2-24%, and Tier 3-11%
By Designation: C-Level-30%, D-Level-25%, and Others-45%
By Region: North America-27%, Europe-20%, Asia Pacific-33%, Middle East & Africa-12%, and South America-8%
Note: "Others" include sales managers, engineers, and regional managers
The tiers of the companies are defined based on their total revenue as of 2023: Tier 1: greater than USD 1 billion, Tier 2: USD 500 million-1 billion, and Tier 3: less than USD 500 million.
The market for progressing cavity pumps is primarily controlled by reputable international giants. In the industrial control transformer market, some of the leading companies are Caterpillar (USA), Wartsila (Finland), Rolls-Royce Holdings (UK), Cummins (USA), Volkswagen (Germany), Siemens Energy (Germany), Mitsubishi Heavy Industries (Japan) and a few more.
The report provides an exhaustive analysis of the progressing cavity pumps market, offering detailed definitions, descriptions, and forecasts based on various parameters. These parameters include power rating (Up to 50 hp, 51-150 hp, above 150 hp), Pumping Capacity (Up to 500 GPM, 501-1,000 GPM, Above 1,000 GPM), end-user industry (Oil & gas, water & wastewater treatment, food & beverage, chemicals & petrochemicals, others), product type (Dosing Pump, Flanged Pump, Hopper Pump, Food Grade (EHEDG/3A Certified), Food Grade (Non-Certified), Vertical Pump, Downhole Pump), stage type (Single-stage (90-PSI), Double stage (180-PSI), Four stage (360-PSI), Eight-stage (720-PSI)), and region (including Asia Pacific, North America, Europe, Middle East and Africa, and South America). Using both qualitative and quantitative approaches, the report explores key drivers, limitations, opportunities, and challenges within the progressing cavity pump market. Moreover, it provides insights into critical aspects such as competitive landscape analysis, assessment of market dynamics, value-based market estimates, and future trends shaping the progressing cavity pumps market.
Key Benefits of Buying the Report
The research has been carefully developed to meet the requirements of both new entrants into the cavity pump market and established industry players. It provides accurate revenue projections for each of the market's sub-segments as well as the overall market, making it an invaluable tool for stakeholders trying to get a full picture of the competitive environment. Stakeholders can use this data to create market strategies that work for their companies. Furthermore, the research serves as a means of communication for stakeholders to understand the current status of the market by offering vital insights into market drivers, constraints, opportunities for growth, and challenges. Through the integration of these data, stakeholders can make well-informed decisions and remain up to date with the constantly changing dynamics within the cavity pump business.
(Business overview, Products offered, Recent Developments, MNM view)**