Global market for progressing cavity pumps projected to grow to USD 4.9 billion by 2033

From GlobeNewswire: 2024-07-17 10:00:00

The Global Progressing Cavity Pump Market is projected to grow from USD 3.2 billion in 2023 to USD 4.9 billion by 2033, with a CAGR of 4.35%. Progressive cavity pumps are used for transferring highly viscous materials in various industries. Changes in operational parameters can impact the pump’s performance. The 0 to 500 GPM segment is expected to dominate the market, with up to 50 HP power rating being the most popular choice. The oil & gas industry is the largest end-user of progressing cavity pumps, with Asia Pacific leading the market share due to increasing oil and gas activities.

North America is predicted to see the fastest growth in the global progressing cavity pump market, driven by industries like mining, oil and gas, and wastewater treatment. Major vendors in the market include Alfa Laval AB, Xylem Inc., and Weir Group PLC. Recent developments include CIRCOR International, Inc. finalizing a merger agreement with investment funds from KKR. The market is segmented by pumping capacity, power rating, end user, and region. To access more detailed insights, visit the link provided in the news article.



Read more at GlobeNewswire: Global Progressing Cavity Pump Market Size To Worth USD 4.9