Progressive Cavity Pump Market Size, Share & Trends Analysis Report By Power Rating (Up to 50 HP, 51 to 150 HP), By Pumping Capacity (Up to 500 GPM, 501 to 1000 GPM,), By End-use (Oil & Gas, Pulp & Paper), By Region, And Segment Forecasts, 2024 - 2030
Progressive Cavity Pump Market Size, Share & Trends Analysis Report By Power Rating (Up to 50 HP, 51 to 150 HP), By Pumping Capacity (Up to 500 GPM, 501 to 1000 GPM,), By End-use (Oil & Gas, Pulp & Paper), By Region, And Segment Forecasts, 2024 - 2030
Progressive Cavity Pump Market Trends
The global progressive cavity pump market size was estimated at USD 2.38 billion in 2023 and is expected to grow at a CAGR of 4.9% from 2024 to 2030. The demand for progressive cavity pumps is on the rise, driven by a variety of factors that underscore their effectiveness and versatility in handling fluid transfer and management across diverse industrial applications. Progressive cavity pumps, known for their capability to adjust flow rates and handle varying pressures, are increasingly sought after for their advanced functionality and reliability in various industries.
Technological advancements in pump design and manufacturing have also significantly contributed to the growing demand for progressive cavity pumps. Modern pumps are equipped with sophisticated features such as variable speed drives, advanced sealing technologies, and digital control systems. These innovations enhance progressive cavity pumps' operational flexibility and efficiency, allowing them to meet the increasingly complex requirements of contemporary industrial processes. Integrating smart technologies also enables real-time monitoring and diagnostics, improving maintenance and operational reliability.
This report forecasts revenue growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the progressive cavity pump market based on power rating, pumping capacity, end-use, and region.