The global progressing cavity pump market size is projected to reach USD 5.9 billion by 2026, at a CAGR of 6.0%, from an estimated USD 4.4 billion in 2021. The key drivers for the progressing cavity pump market include use of PCPs in enhanced oil recovery and upstream processes and Intensifying need for water & wastewater management in developed nations.
The Progressing Cavity Pump market is served by a mix of large international players with their presence and capabilities across different regions as well as local players that have a strong foothold in the domestic markets. The key players operating in the market include Xylem (US), Weir (UK), Sulzer (Switzerland), Roto Pumps (India), EBARA Corporation (Japan), Wilo (Germany), ITT Corporation (US), NETZSCH (Germany), CIRCOR International (US), SEEPEX (Germany), are others.
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The major strategies adopted by the players in the Progressing Cavity Pump market include contracts & agreements, investments & expansion, mergers & acquisitions, new product launches, and partnerships (including joint ventures, strategic alliances, and collaborations). Contracts & agreements was the most commonly adopted strategy from 2017 to February 2021. Partnerships & collaborations have also emerged as a key strategy, as companies look to strengthen their service offerings and geographic market reach by offering their product.
Xylem, Inc. is engaged in designing and manufacturing of highly engineered technologies for the water industry. Its products & services portfolio covers analytical instruments, controllers, pumps & accessories, and water & wastewater treatment solutions. The company operates through 3 main business segments, namely, Water Infrastructure, Applied Water, and Measurement & Control Solutions. The company offers a range of progressive pump systems under the Transport division of the Water Infrastructure business segment. This business segment generated about USD 2.2 billion for the company in 2019.
Sulzer is a global player that delivers reliable and sustainable solutions. It offers pumping solutions, services for rotating equipment, and separation, mixing, and application technologies. The company provides its products and services to the oil & gas, power, and water industries. Sulzer operates through 4 business segments, namely, Pumps Equipment, Rotating Equipment Services, Chemtech, And Applicator Systems. Progressing cavity pumps are offered through the Pump Equipment segment. The Pump Equipment segment provides pumps for various applications, such as production, transportation, crude oil & gas processing; supply, treatment, and transport of water, wastewater collection, and also for fossil-fired, nuclear, and renewable power generation.
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Recent Developments:
- In January 2021, Sulzer acquired Nordic Water, a provider of compact and energy-efficient water and wastewater treatment solutions. This acquisition strengthened Sulzer’s wastewater treatment business by expanding its portfolio of pumps, grinders, mixers, compressors, and other products. The aim of this transaction is to expand the company’s business in the municipal and industrial wastewater treatment domain.
- In January 2021, Schlumberger and Liberty Oilfield Services signed a contract for pressure pumping transactions and onshore hydraulic fracturing business. Under the contract, the companies were working jointly in the US and Canada for pressure pumping and hydraulic fracturing operations. The contract between the 2 companies ended on 4th January 2021, and Liberty will continue to be led by its current management team, developing and delivering next-generation technology for the sustainable development of unconventional energy resources.
- In July 2020, Weatherford and an independent oil field operator in Argentina signed a contract for surface pumping. Under the contract, Weatherford will deliver 146 surface pumping units deployed in critical and challenging mature fields in Golfo San Jorge Basin to improve the operator’s production efficiency and performance.
- In July 2020, Halliburton signed a strategic agreement with Microsoft and Accenture. Under the agreement, Halliburton will complete its move to cloud-based digital platforms and strengthen its customer offerings by:
- Enhancing real-time platforms for expanded remote operations
- Improving analytics capability with the Halliburton Data Lake utilizing machine learning and artificial intelligence, and
- Accelerating the deployment of new technology and applications, including SOC2 compliance, for Halliburton’s overall system reliability and security
