Global Progressing Cavity Pump Market to reach USD 5.1 billion by 2025 | CAGR: 7.5%
Global Progressing Cavity Pump Market is valued at USD 2.68 billion in 2016 is anticipated to grow USD 5.1 billion by 2025 with the compounded annual growth of 7.5% over the forecast period 2017-2025.
New York 15 May 2018, As per the new research study conducted by Bizwit Research & Consulting, Global Progressing Cavity Pump industry is poised to raise USD 5.1 billion by 2025. Some key elements are; Reasonableness for dealing with high consistency fluids, growing premiums in structure progression works out, fame for wastewater treatment plants in the Asia Pacific is a bit of the factor that is driving the market for PCPs.
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Global Progressing Cavity Pump Market Size Estimates and Forecasts, by Power Rating (Up to 50HP, HP-150 HP, Above 150 HP) by End-Use (Oil & Gas, Water & Wastewater Management, Food & Beverages, Chemical & Petrochemical, Others) and by Region (North America, Europe, Asia Pacific, Latin America, and Rest of the World) 2017-2025 (USD Billion/Million)
The industry seems to be fairly competitive. Some of the leading market players include Competitive Benchmarking, Borets and so on. Other market players discussed in the report include Schlumberger, Dover, Weatherford. New product launches, acquisitions, and mergers are some of the strategies adopted by the key manufacturers. Additionally, the fierce competitiveness has made these players spend in product developments to improve the customer’s requirements.
Key findings of the study:
- Increasing use of progressing cavity pumps in industries such as water & wastewater, oil & gas and ease of operation and maintenance would drive the market growth.
- focus on developing new water & wastewater infrastructure, especially in the US would aid in increasing the demand for progressing cavity pump.
Bizwit Research & Consulting LLP has considered the following segments for the study:
By Power Rating:
- Up to 50HP
- 51 HP – 150 HP
- Above 150 HP
By End Use:
- Oil & Gas
- By Application
- By Well Type
- Horizontal Well
- Vertical Well
- Water & Wastewater Management
- Food & Beverages
- Chemical & Petrochemical
- North America
- Asia Pacific
- Latin America
- Rest of the World