Progressive Cavity Pump Market Size
The global progressive cavity pump market size was USD 4.45 billion in 2020. The market is projected to grow from USD 4.77 billion in 2021 to USD 7.09 billion in 2028 at a CAGR of 5.8% during the 2021-2028 period. This information is provided by Fortune Business Insights, in its report titled, “Progressive Cavity Pump Market, 2021-2028.”To get more news about Progressive cavity pump parts, you can visit brysonpump.com official website.
According to our researchers, rotating positive displacement pumps are the most common type of progressing cavity pump. They are mostly utilized for continuous, gentle conveyance and precise dosage due to their high process liability and suction capacity. They are incredibly adaptable and can be utilized for a variety of pumping tasks. They have all the benefits of a positive displacement pump and are primarily designed for abrasion resistance in high-stress pumping applications.
The ongoing COVID-19 pandemic has imposed travel restrictions and suspension of industrial works to minimize the impact and spread of the virus. The market has seen a drop in demand from several end-user industries since the onset of COVID-19. Under such difficult conditions, these businesses have witnessed a major drop in revenue and profits, resulting in a significant reduction in the number of employees and workers, and an overall loss in industrial production activities.
The market research report offers important insights, facts, industry-related information, and historical data to provide a thorough industry assessment. To develop the market research report, several procedures and approaches are used to make meaningful assumptions and viewpoints. The research also includes a detailed analysis of market segments, such as pumping capacity, power rating, end-users, and geographies, to provide our readers with a complete picture of the global industry.
A progressive cavity pump is used in a variety of sectors to transfer raw materials with changing viscosity, abrasiveness, or even high solid content on a continuous or intermittent basis. Various industrial operators in water and wastewater, oil and gas, and food and beverage industries to discharge high viscous material at a steady flow rate use these pumps. Furthermore, as compared to alternative approaches, the usage of progressive cavity pumps helps plant operators save large amounts of energy, lower maintenance costs, and reduce downtime.
The pump is utilized in a variety of sectors to improve industrial process recovery. Changes in good conditions and operational parameters, such as motor speed, can cause havoc with the pump and disrupt the system's steady and reliable operation. In addition, changing the pump speed can reduce the process optimization. These factors are likely to drive the progressive cavity pump market growth.
Asia Pacific is expected to have the highest progressive cavity pump market share. The region's market expansion may be ascribed to a number of factors, including rapid economic growth and associated increases in economic activities, such as industrialization, modern agriculture, and urbanization, all of which have increased the demand for clean and reusable water. Rapid industrialization, investment in water and wastewater treatment infrastructure, expansion of various industries, such as chemicals, power, and oil gas, an increase in infrastructural development projects, particularly in China and India, and an intensifying need for proper sanitation with rising standards of living and urbanization are the key factors driving the growth of the market in Asia Pacific.
