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- Progressing Cavity Pump Market to Reach USD 4,400 Million by 2028
Progressing Cavity Pump Market to Reach USD 4,400 Million by 2028
According to analysts at Vantage Market Research, the Progressing Cavity Pump Market is expected to reach USD 4,400 Million by 2028, growing at a CAGR of 5.4% between 2021 to 2028. PCPs are normally utilized in the creation of heavy oil, extra-substantial oil, and others through oil sands wells. It is good for fluids with higher viscosities, as their mechanical and volumetric performances rise due to consistency and stream production. The capacity of PCPs to effectively deal with high-thickness liquid streams and huge volumes of solids in suspension has prompted their popular utilization in the water and wastewater the board business.
Key Finding
- The up to 50 hp segment is projected to expand at the fastest CAGR exceeding 5.6% over the forecast period due to use for the production of heavy oil, extra-heavy oil, and bitumen by oil sands wells.
- The oil & gas segment held a market share of around 34% in 2020. This share is due to the competition analysis demands the growth of pump market in coming future.
- Asia Pacific is expected to expand at a CAGR of over 5.8% from 2021 to 2028. This surge is attributed to the rising demand for progressing cavity pumps in developing economies such as China and India.
The improved oil production procedures are utilized for stretching a well's self-life and for extricating the greatest measure of oil from something very similar in a proficient way.
North America is poised to record the highest CAGR, owing to the increasing demand in countries, such as the U.S., Canada, and Mexico. The development in the handling of metropolitan waste administration in Asia is relied upon to support the interest for progressive cavity pumps. The developing volumes of packaged food and refreshment industry likewise depend on the progressive cavity pumps market. The utilization of sustainable advancements like sunlight-based solar thermal for power generation boosts sales of progressive cavity pumps.
Some of the key players in Progressing Cavity Pump Market include A Ge Company, National Oilwell Varco, Varisco, Circor, Nova Rotors, Baker Hughes, Xylem, Netzsch, Dover, Seepex, Roto Pumps, Schlumberger, ITT, Halliburton, J J Tech, PCM, Weatherford, Borets., among others.
The market is comprised of a high degree of competition due to the presence of numerous key players.
The Progressing Cavity Pump is segmented as follows:
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Global Progressing Cavity Pump Market: Type Segment Analysis
- Up to 50 hp
- 51–150 hp
- Above 150 hp
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Global Progressing Cavity Pump Market: Application Segment Analysis
- Oil & Gas
- Water & Waste Management
- Food & Beverage
- Chemical & Petrochemical
- Others
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Global Progressing Cavity Pump Market: Segment Analysis
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Global Progressing Cavity Pump Market: Segment Analysis
Browse market data Tables and Figures
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Pages and in-depth TOC on "Progressing Cavity Pump Market by Type (Up to 50 hp, 51–150 hp, Above 150 hp) by Application (Oil & Gas, Water & Waste Management, Food & Beverage, Chemical & Petrochemical, Others) , by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa): Global Market Assessment, 2021 – 2028"
View detailed Research Report here - https://www.vantagemarketresearch.com/industry-report/progressing-cavity-pump-market-0254
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- France
- Germany
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
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