PROGRESSING CAVITY PUMP MARKET ANALYSIS

Progressing Cavity Pump Market Size and Trends

The Progressing Cavity Pump Market is estimated to be valued at US$ 3.72 billion in 2024 and is expected to reach US$ 5.31 billion by 2031, exhibiting a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.

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The global progressing cavity pump market growth is driven by the rising preference for progressing cavity pumps over traditional pumps across several industries such as oil & gas, food & beverage, and water & wastewater. Progressing cavity pumps are increasingly being used for mining slurries, oil well borehole cleaning, viscous sludge, and others owing to their ability to easily handle thick, heavy, abrasive materials, and shear-sensitive liquids. These pumps have low maintenance requirements and wear fewer parts compared to conventional pumps which further fuel their demand globally. Additionally, progressing cavity pumps are corrosion-resistant and can handle mixed phases, gases, and solids without any loss in performance, augmenting their deployment across multiple industrial applications.

Progressing Cavity Pumps in Oil & Gas Industry

The progressing cavity pump market is expected to see significant growth in demand from the oil & gas industry. With energy companies looking to ramp up production from mature oilfields and exploit unconventional reserves such as tight oil & gas, shale gas, and deepwater reserves, demand for robust and durable pumping solutions like progressing cavity pumps is increasing. Challenges associated with handling abrasive fluids and fluids containing a high amount of solids further boost the case for progressing cavity pumps over other pump types. As oil & gas companies globally invest heavily in enhancing oil recovery and boosting overall output, spending on downstream infrastructure like pumping systems is expected to rise significantly. This will accelerate the growth of the progressing cavity pump market that is closely tied to the expansionary plans of the oil & gas sector. For instance, in January 2022, NETZSCH initiated the construction of a new production facility in Brazil. Located in Santa Catarina's Ribeirão Souto, near the existing facilities in Pomerode, this new plant will assume full responsibility for the production of multi-screw pumps, thereby enabling the company to ramp up production across its product lines.

The global progressing cavity pump market is witnessing steady gains driven by rising adoption in agricultural irrigation and fertilizer transfer applications. With worldwide focus growing on boosting agricultural productivity and crop yield through optimized irrigation practices, investments in advanced irrigation infrastructure are increasing. This bodes well for the adoption of progressive cavity pumps that help achieve substantial water and energy savings. Mounting pressures of efficient fertilizer and nutrient delivery along with growing acreage under center pivot and lateral move irrigation systems will continue augmenting demand for progressive cavity technology in the agriculture sector. Water scarcity also encourages the use of these high-efficiency pumps for irrigation applications involving re-use of treated wastewater.

For instance, in November 2022, Vogelsang GmbH & Co. KG introduced a novel progressive cavity pump tailored for application in biogas facilities. Featuring a conical shape and an inventive adjustment mechanism, the pump conserves energy while substantially prolonging its operational lifespan.