CHICAGO, July 1, 2022 /PRNewswire/ — According to the new market research report “Progressing Cavity Pump Market by Pumping Capacity (Upto 500 GPM, 501–1000 GPM, Above 1000 GPM), Power Rating (Upto 50 hp, 51–150 hp, Above 150 hp), End User (Oil & Gas, Water & Wastewater, Others), Product Type, Stage Type and Region – Forecast to 2027″, published by MarketsandMarkets™, the Progressing Cavity Pump Market is expected to grow at a CAGR of 5.3% during the forecast period, from an estimated USD 2.2 billion in 2022 to USD 2.8 billion in 2027. Growing developments in investments in water & wastewater treatment, oil & gas, chemicals & petrochemicals, mining is fueling the growth for progressing cavity pumps. The new technology trends in conveying high viscosity fluids and semi-solids is creating numerous opportunities for progressing cavity pump manufacturers.
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The water & wastewater treatment segment, by end-user industry, is expected to be the largest Progressing Cavity Pump Market during the forecast period
The water & wastewater segment has the largest share of the global Progressing Cavity Pump Market owing to rise in the demand in developing countries with increase in the sanitation services for achieving sustainability development goals. As these pumps work efficiently when comes to highly viscous fluids and semi-solids which is fueling the growth for progressive cavity pumps….
